<SEC-DOCUMENT>0001019687-13-000405.txt : 20130208
<SEC-HEADER>0001019687-13-000405.hdr.sgml : 20130208
<ACCEPTANCE-DATETIME>20130208171111
ACCESSION NUMBER:		0001019687-13-000405
CONFORMED SUBMISSION TYPE:	S-1
PUBLIC DOCUMENT COUNT:		18
FILED AS OF DATE:		20130208
DATE AS OF CHANGE:		20130208

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pacific Ethanol, Inc.
		CENTRAL INDEX KEY:			0000778164
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				412170618
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-186551
		FILM NUMBER:		13587782

	BUSINESS ADDRESS:	
		STREET 1:		400 CAPITOL MALL, SUITE 2060
		CITY:			SACRAMENTO
		STATE:			CA
		ZIP:			95814
		BUSINESS PHONE:		916-403-2123

	MAIL ADDRESS:	
		STREET 1:		400 CAPITOL MALL, SUITE 2060
		CITY:			SACRAMENTO
		STATE:			CA
		ZIP:			95814

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACCESSITY CORP
		DATE OF NAME CHANGE:	20030627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DRIVERSSHIELD COM CORP
		DATE OF NAME CHANGE:	20001115

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST PRIORITY GROUP INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-1
<SEQUENCE>1
<FILENAME>paceth_s1.htm
<DESCRIPTION>FORM S-1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>As filed with the Securities Exchange
Commission on February 8, 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-______</B></P>



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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 10%; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 80%; font-size: 10pt; font-weight: bold; text-align: center">U. S. SECURITIES AND EXCHANGE COMMISSION</TD>
    <TD ROWSPAN="2" STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 12pt; font-weight: bold"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold">Washington, D.C. 20549</TD></TR>
</TABLE>


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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>FORM S-1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE<BR>
SECURITIES ACT OF 1933</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt">PACIFIC
ETHANOL, INC.</FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 34%; font-weight: bold; text-align: center">2860</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center">41-2170618</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of<BR> incorporation or organization)</TD>
    <TD STYLE="text-align: center">(Primary Standard Industrial<BR> Classification Code No.)</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer <BR> Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>400 Capitol Mall, Suite 2060, Sacramento,
California 95814</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(916) 403-2123</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">(Address
and telephone number of principal executive offices</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">and principal place of business)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><IMG SRC="image_009.gif" ALT="" STYLE="height: 3px; width: 183px"></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Neil
Koehler<BR>
President and Chief Executive Officer<BR>
Pacific Ethanol, Inc.<BR>
400 Capitol Mall, Suite 2060</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Sacramento, California 95814<BR>
(916) 403-2123</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address and telephone number of agent
for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_009.gif" ALT="" STYLE="height: 3px; width: 183px"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Copies
of all correspondence to:</I><BR>
<B>Larry A. Cerutti, Esq.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Troutman Sanders LLP<BR>
5 Park Plaza, Suite 1400<BR>
Irvine, California 92614<BR>
(949) 622-2700 / (949) 622-2739 (fax)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Approximate date of proposed sale to the public:</B> From
time to time after this registration becomes effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If any of the securities being registered
on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the
following box. <FONT STYLE="font-family: Wingdings 2">S</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this form is a post-effective amendment
filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If the delivery of the prospectus is expected
to be made pursuant to Rule 434, check the following box. <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 66%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Large accelerated filer <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></FONT></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Accelerated filer <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Non-accelerated filer <FONT STYLE="font-family: Wingdings 2">&pound;</FONT> (Do not check if a smaller reporting company)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Smaller reporting company <FONT STYLE="font-family: Wingdings 2">S</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="border-bottom: windowtext 1.5pt double; padding-top: 4pt; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">Calculation of Registration Fee</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; border-bottom: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">Title of Each Class of <BR> Securities to be Registered</TD>
    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">Amount to be Registered(1)</TD>
    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Proposed Maximum Offering Price</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>per Share (3)</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Proposed Maximum Aggregate Offering Price (3)</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Amount of Registration Fee (4)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid">Shares of common stock issuable upon exercise of warrants</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">25,630,286</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$0.38</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$9,739,509</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$1,329</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid">Shares of common stock issuable as interest payments on senior unsecured notes</TD>
    <TD STYLE="vertical-align: bottom; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7,369,714<SUP> (2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.38</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$2,800,491</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$382</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: windowtext 1pt solid; border-bottom: windowtext 1.5pt double">Total number of shares of common stock to be registered</TD>
    <TD STYLE="vertical-align: bottom; border-right: windowtext 1pt solid; border-bottom: windowtext 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">33,000,000</TD>
    <TD STYLE="vertical-align: bottom; border-right: windowtext 1pt solid; border-bottom: windowtext 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$0.3</FONT>8</TD>
    <TD STYLE="vertical-align: bottom; border-right: windowtext 1pt solid; border-bottom: windowtext 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$12,540,000</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: windowtext 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$1,711</TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>In accordance with Rule 416(a) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), the Registrant
is also registering hereunder an indeterminate number of shares of common stock that may be issued and resold resulting from stock
splits, stock dividends, or similar transactions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Represents shares of common stock issuable, at the Registrant&rsquo;s election, in payment of interest on the Registrant&rsquo;s
senior unsecured notes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) of the Securities Act based upon
the price of $0.38, which was the average of the high and low prices for the Registrant&rsquo;s common stock on The NASDAQ Capital
Market on February 6, 2013.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>Computed in accordance with Section 6(b) of the Securities Act.</TD></TR></TABLE>

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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Registrant hereby amends this registration statement
on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which
specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities
Act of 1933 or until the registration statement becomes effective on such date as the Commission, acting under Section 8(a), may
determine.</B></P>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 12pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt">&nbsp;</DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: windowtext 1.5pt double; padding-left: 0.05in; text-align: left; font-weight: bold">The information in this prospectus is not complete and may be changed. The selling security holders will not sell these securities until after the registration statement filed with the Securities and Exchange Commission is declared effective.&nbsp; This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SUBJECT TO COMPLETION, DATED FEBRUARY
8, 2013</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt">33,000,000
Shares<BR>
<BR>
PACIFIC ETHANOL, INC.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Common
Stock</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This is a public offering of 33,000,000
shares of our common stock, including 7,369,714 shares of common stock issuable, at our election, in payment of interest under
the terms of our senior unsecured notes, or Notes, and 25,630,286 shares of our common stock issuable upon exercise of our warrants,
or Warrants.&nbsp;&nbsp;All shares of common stock are being offered by the selling security holders identified in this prospectus.
It is anticipated that the selling security holders will sell these shares of common stock from time to time in one or more transactions,
in negotiated transactions or otherwise, at prevailing market prices or at prices otherwise negotiated. We will not receive any
proceeds from the sale of the shares of common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our common stock is currently traded on
The NASDAQ Capital Market under the symbol &ldquo;PEIX.&rdquo; The last reported price of our common stock on The NASDAQ Capital
Market on February 6, 2013, was $0.38 per share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our principal offices are located at 400
Capitol Mall, Suite 2060, Sacramento, California 95814 and our telephone number is (916) 403-2123.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Investing in our shares of common stock
involves substantial risks. See &ldquo;Risk Factors&rdquo; beginning on page 6 of this prospectus for factors you should consider
before buying shares of our common stock.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful
or complete. Any representation to the contrary is a criminal offense.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The date of this prospectus is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2013.</P>

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 93%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: center; border-bottom: Black 1pt solid"><B>Page</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>PROSPECTUS SUMMARY</TD>
    <TD STYLE="text-align: center">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>RISK FACTORS</TD>
    <TD STYLE="text-align: center">6</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</TD>
    <TD STYLE="text-align: center">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>USE OF PROCEEDS</TD>
    <TD STYLE="text-align: center">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>DIVIDEND POLICY</TD>
    <TD STYLE="text-align: center">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>PRICE RANGE OF COMMON STOCK</TD>
    <TD STYLE="text-align: center">18</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-left: 11pt; text-indent: -11pt">MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</TD>
    <TD STYLE="text-align: center">20</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>BUSINESS</TD>
    <TD STYLE="text-align: center">43</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>MANAGEMENT</TD>
    <TD STYLE="text-align: center">55</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS</TD>
    <TD STYLE="text-align: center">77</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>PRINCIPAL STOCKHOLDERS</TD>
    <TD STYLE="text-align: center">86</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>SELLING SECURITY HOLDERS</TD>
    <TD STYLE="text-align: center">88</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>PLAN OF DISTRIBUTION</TD>
    <TD STYLE="text-align: center">95</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>DESCRIPTION OF NOTE AND WARRANT FINANCING</TD>
    <TD STYLE="text-align: center">98</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>DESCRIPTION OF CAPITAL STOCK</TD>
    <TD STYLE="text-align: center">102</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>LEGAL MATTERS</TD>
    <TD STYLE="text-align: center">110</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>EXPERTS</TD>
    <TD STYLE="text-align: center">110</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>WHERE YOU CAN FIND MORE INFORMATION</TD>
    <TD STYLE="text-align: center">110</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>INDEX TO FINANCIAL STATEMENTS</TD>
    <TD STYLE="text-align: center">&nbsp;F-1</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>To fully understand this offering and
its consequences to you, you should read the following summary along with the more detailed information and our financial statements
and the notes to our financial statements appearing elsewhere in this prospectus. In this prospectus, the words &ldquo;we,&rdquo;
&ldquo;us,&rdquo; &ldquo;our&rdquo; and similar terms refer to Pacific Ethanol, Inc., a Delaware corporation, unless the context
provides otherwise.</I></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are the leading marketer and producer
of low-carbon renewable fuels in the Western United States.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We market all the ethanol produced by four
ethanol production facilities located in California, Idaho and Oregon, or Pacific Ethanol Plants, all the ethanol produced by three
other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United
States. We also market ethanol co-products, including wet distillers grains and syrup, or WDG, for the Pacific Ethanol Plants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have extensive customer relationships
throughout the Western United States. Our ethanol customers are integrated oil companies and gasoline marketers who blend ethanol
into gasoline. We arrange for transportation, storage and delivery of ethanol purchased by our customers through our agreements
with third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado,
Idaho and Washington. Our WDG customers are dairies and feedlots located near the Pacific Ethanol Plants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have extensive supplier relationships
throughout the Western and Midwestern United States. In some cases, we have marketing agreements with suppliers to market all of
the output of their facilities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We currently hold an 80% ownership interest
in New PE Holdco LLC, or New PE Holdco, the owner of each of the plant holding companies, or the Plant Owners, that collectively
own the Pacific Ethanol Plants. We operate and maintain the Pacific Ethanol Plants under the terms of an asset management agreement
with New PE Holdco and the Plant Owners, including supplying all goods and materials necessary to operate and maintain each Pacific
Ethanol Plant. In operating the Pacific Ethanol Plants, we direct the production process to obtain optimal production yields, lower
costs by leveraging our infrastructure, enter into risk management agreements such as insurance policies and manage commodity risk
practices. We are also in complete charge of, and have care and custody over, each Pacific Ethanol Plant that is not operational,
and provide recommendations to New PE Holdco as to when a Pacific Ethanol Plant should become operational. We perform all activities
necessary to support a cost effective return of any idled Pacific Ethanol Plant to operational status once New PE Holdco approves
our recommendation to re-start an idled Pacific Ethanol Plant. Neil Koehler, our President and Chief Executive Officer, is the
sole manager of New PE Holdco.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We market ethanol and WDG produced by the
Pacific Ethanol Plants under the terms of separate marketing agreements with the Plant Owners whose facilities are operational.
The marketing agreements provide us with the absolute discretion to solicit, negotiate, administer (including payment collection),
enforce and execute ethanol and co-product sales agreements with any third party.</P>

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

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Pacific Ethanol Plants are comprised
of the four facilities described immediately below, three of which are currently operational. As future market conditions change,
we may increase, decrease or idle production at those facilities which are operational or resume operations of any facility which
is not operational.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; padding-right: 0.05in; padding-left: 0.05in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid"><B>Facility Name</B></P></TD>
    <TD STYLE="width: 21%; padding-right: 0.05in; padding-left: 0.05in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Facility
        Location</B></P></TD>
    <TD STYLE="width: 27%; padding-right: 0.05in; padding-left: 0.05in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Estimated
        Annual Capacity</B><BR>
        <B>(gallons)</B></P></TD>
    <TD STYLE="width: 18%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Current
        Operating Status</B></P></TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt">Magic Valley</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">Burley, ID</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">60,000,000</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Operating</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt">Columbia</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">Boardman, OR</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">40,000,000</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Operating</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt">Stockton</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">Stockton, CA</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">60,000,000</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Operating</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt">Madera</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">Madera, CA</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">40,000,000</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Idled</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We also provide operations, maintenance
and accounting services for a 250,000 gallon per year cellulosic integrated biorefinery owned by ZeaChem Inc. in Boardman, Oregon,
which is adjacent to the Pacific Ethanol Columbia plant.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a Delaware corporation that was incorporated
in February 2005. Our principal executive offices are located at 400 Capitol Mall, Suite 2060, Sacramento, California 95814. Our
telephone number is (916) 403-2123 and our Internet website is <FONT STYLE="font-size: 10pt; color: windowtext">www.pacificethanol.net</FONT>.
The content of our Internet website does not constitute a part of this prospectus.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You should rely only on the information
contained in this prospectus in connection with this offering. We have not authorized anyone to provide you with information that
is different. The selling security holders are not making an offer to sell these securities in any jurisdiction where the offer
or sale is not permitted. You should assume that the information appearing in this prospectus is accurate only as of the date on
the front cover of this prospectus.</P>

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

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; width: 49%">Common stock offered by the selling security holders</TD>
    <TD STYLE="vertical-align: bottom; width: 51%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">33,000,000(1)&nbsp;</P></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top">Common stock outstanding prior to this offering</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">149,203,614&nbsp;</P></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top">Common stock to be outstanding after this offering</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">182,203,614(2)&nbsp;</P></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top">The NASDAQ Capital Market symbol</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PEIX&nbsp;</P></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top">Use of Proceeds&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We will not receive any of the proceeds from the sale
of the shares of common stock being offered under this prospectus. See &ldquo;Use of Proceeds.&rdquo;&nbsp;</P></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top">Risk Factors</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">There are many risks related to our business, this offering and ownership of our common stock that you should consider before you decide to buy our common stock in this offering.&nbsp; You should read the &ldquo;Risk Factors&rdquo; section beginning on page 6, as well as other cautionary statements throughout this prospectus, before investing in shares of our common stock.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_____________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Consists of the 7,369,714 shares of common stock issuable, at our election, in payment of interest under the terms of the Notes
and the 25,630,286 shares of common stock issuable upon exercise of the Warrants.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Represents 149,203,614 shares of common stock currently outstanding plus 33,000,000 shares of common stock being offered by
the selling security holders under this prospectus.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The number of shares of common stock that
will be outstanding upon the completion of this offering is based on the 149,203,614 shares outstanding as of February 6, 2013,
and excludes the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>2,928,804 shares of common stock reserved for issuance under our 2006 Stock Incentive Plan, or 2006 Plan, of which options
to purchase 183,345 shares were outstanding as of that date, at a weighted average exercise price of $0.86 per share;</TD></TR>                                                                                                                               <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>11,429 shares of common stock reserved for issuance under outstanding options issued under our 2004 Stock Option Plan, or 2004
Plan, at a weighted average exercise price of $57.82 per share;</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>78,328,751 shares of common stock reserved for issuance under warrants to purchase common stock outstanding as of that date,
other than the Warrants held by the selling security holders, at a weighted average exercise price of $1.14 per share;</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD>6,741,080 shares of common stock reserved for issuance upon conversion of our Series B Cumulative Convertible Preferred Stock,
or Series B Preferred Stock; and</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any additional shares of common stock we may issue from time to time after that date.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>The following summarizes material risks
that you should carefully consider before you decide to buy our common stock in this offering. Any of the following risks, if they
actually occur, would likely harm our business, financial condition and results of operations. As a result, the trading price of
our common stock could decline, and you could lose the money you paid to buy our common stock.</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>We have incurred significant losses
and negative operating cash flow in the past and we may incur significant losses and negative operating cash flow in the foreseeable
future. Continued losses and negative operating cash flow will hamper our operations and prevent us from expanding our business.
</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have incurred significant losses and
negative operating cash flow in the past. For the nine months ended September 30, 2012, we incurred a consolidated net loss of
approximately $33.7 million and negative operating cash flow of approximately $11.4 million. For 2011, we incurred a consolidated
net loss of approximately $4.0 million and negative operating cash flow of approximately $4.0 million. For 2009, we incurred a
consolidated net loss of approximately $308.7 million and negative operating cash flow of approximately $6.3 million. Although
we reported consolidated net income of $69.5 million for 2010, primarily due to a $119.4 million net gain in connection with the
completion of the bankruptcy proceedings of our former indirect wholly-owned subsidiaries, we incurred negative operating cash
flow of approximately $37.0 million. We believe that we may incur significant losses and negative operating cash flow in the foreseeable
future. We expect to rely on cash on hand, cash, if any, generated from our operations and cash, generated from future financing
activities, if any, to fund all of the cash requirements of our business. Continued losses and negative operating cash flow may
hamper our operations and impede us from expanding our business. Continued losses and negative operating cash flow are also likely
to make our capital raising needs more acute while limiting our ability to raise additional financing on favorable terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>We may be unable to restructure or
repay the Plant Owners&rsquo; term and revolving debt in the aggregate amount of $6.7 million prior to its June 25, 2013 maturity
date. Our inability to timely restructure or repay the debt will likely result in material adverse effects on us and our direct
and indirect subsidiaries, including Kinergy and the Plant Owners, and on each Plant Owner&rsquo;s ability to continue as a going
concern.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of the date of this prospectus, of
the Plant Owners&rsquo; up to $104.8 million in term and revolving debt, $6.7 million in combined term and revolving debt is
due on June 25, 2013. Of the Plant Owner&rsquo;s remaining debt, up to $10.0 million in revolving debt is due on June 25,
2015 and $88.1 million in combined revolving and term debt is due on June, 30, 2016. The Plant Owners do not and will likely
not have sufficient funds to repay the up to $6.7 million in debt on or prior to its maturity on June 25, 2013. We are
therefore attempting to restructure the debt and/or raise additional capital. If we are unable to raise sufficient capital to
repay the debt, we will be in default on that debt and in cross-default on the $88.1 million in revolving and term debt due
on June 30, 2016 plus up to an additional $10.0 million in revolving debt due June 25, 2015, all of which may be accelerated
and become mmediately due and payable on June 25, 2013. Our inability to restructure or repay the $6.7 million of debt due on
June 25, 2013 prior to its maturity will likely have a material adverse effect on us and our direct and indirect
subsidiaries, including Kinergy and the Plant Owners, and on each Plant Owner&rsquo;s ability to continue as a going concern.
For example, the Plant Owners may be forced to suspend or curtail their operations and possibly seek protection under the
United States Bankruptcy<FONT STYLE="font-size: 10pt"> </FONT>Code. A material adverse effect on the Plant Owners would
likewise materially and adversely harm our business, results of operations and future prospects.<FONT STYLE="font-size: 10pt"> </FONT></P>

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

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>The results of our operations and
our ability to operate at a profit is largely dependent on managing the prices of corn, natural gas, ethanol and WDG, all of which
are subject to significant volatility and uncertainty. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our results of operations are highly impacted
by commodity prices, including the cost of corn and natural gas that we must purchase, and the prices of ethanol and WDG that we
sell. Prices and supplies are subject to and determined by market forces over which we have no control, such as weather, domestic
and global demand, shortages, export prices and various governmental policies in the United States and around the world. For example,
over a period of four weeks at the end of 2011, the market price of ethanol declined by approximately 28%, which substantially
reduced our profitability during the fourth quarter and full year of 2011.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a result of price volatility of corn,
natural gas, ethanol and WDG, our results of operations may fluctuate substantially. In addition, increases in corn or natural
gas prices or decreases in ethanol or WDG prices may make it unprofitable to operate. In fact, some of our marketing activities
will likely be unprofitable in a market of generally declining ethanol prices due to the nature of our business. For example, to
satisfy customer demands, we must maintain certain quantities of ethanol inventory for subsequent resale. Moreover, we procure
much of our inventory outside the context of a marketing arrangement and therefore must buy ethanol at a price established at the
time of purchase and sell ethanol at an index price established later at the time of sale that is generally reflective of movements
in the market price of ethanol. As a result, our margins for ethanol sold in these transactions generally decline and may turn
negative as the market price of ethanol declines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No assurance can be given that corn or natural
gas can be purchased at, or near, current or any particular prices or that ethanol or WDG will sell at, or near, current or any
particular prices. Consequently, our results of operations and financial position may be adversely affected by increases in the
price of corn or natural gas or decreases in the price of ethanol or WDG.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Over the past several years, the spread
between ethanol and corn prices has fluctuated widely and narrowed significantly. Fluctuations are likely to continue to occur.
A sustained narrow spread or any further reduction in the spread between ethanol and corn prices, whether as a result of sustained
high or increased corn prices or sustained low or decreased ethanol prices, would adversely affect our results of operations and
financial position. Further, combined revenues from sales of ethanol and WDG could decline below the marginal cost of production,
which could cause us to suspend production of ethanol and WDG at some or all of the Pacific Ethanol Plants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>We are currently a member of New
PE Holdco with limited control over certain business decisions. As a result, our interests may not be as well served as if we were
in control of all aspects of the business of New PE Holdco, which could adversely affect its contribution to our results of operations
and our business prospects related to that entity.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">New PE Holdco owns, and we operate, the
Pacific Ethanol Plants. We currently have a 80% ownership interest in New PE Holdco. While this represents the single largest ownership
position in New PE Holdco and although we have the power to make decisions regarding the activities of New PE Holdco that most
significantly impact New PE Holdco&rsquo;s economic performance by virtue of the terms of the asset management agreement we have
with New PE Holdco and the Plant Owners and by virtue of the fact that Neil Koehler, our President and Chief Executive Officer,
is the sole manager of New PE Holdco, the consent of the other owners is required to approve certain actions, including restarting
an idle plant<B>. </B>Some actions require the consent of holders of 100% of the ownership interests and others require the consent
of holders of 85% of the ownership interests. In addition, we are precluded from voting on matters in which we have a direct financial
interest, such as the amendment or extension of the asset management agreement we have with New PE Holdco and the Plant Owners
and/or the marketing agreements we have with the Plant Owners whose facilities are operational.<B> </B>As a result of these limitations,
we are dependent on the business judgment of the other owners of New PE Holdco in respect of a number of significant matters bearing
on the operations of the Pacific Ethanol Plants. Consequently, our interests may not be as well served as if we were in complete
control of New PE Holdco, and the contribution by New PE Holdco to our results of operations and our business prospects related
to that entity may be adversely affected by our lack of control over that entity.</P>

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

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Increased ethanol production may
cause a decline in ethanol prices or prevent ethanol prices from rising, and may have other negative effects, adversely impacting
our results of operations, cash flows and financial condition.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe that the most significant factor
influencing the price of ethanol has been the substantial increase in ethanol production in recent years. Domestic ethanol production
capacity has increased steadily from an annualized rate of 1.5 billion gallons per year in January 1999 to 13.9 billion gallons
in 2011 according to the Renewable Fuels Association. However, increases in the demand for ethanol may not be commensurate with
increases in the supply of ethanol, thus leading to lower ethanol prices. Demand for ethanol could be impaired due to a number
of factors, including regulatory developments and reduced United States gasoline consumption. Reduced gasoline consumption has
occurred in the past and could occur in the future as a result of increased gasoline or oil prices.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>The market price of ethanol is volatile
and subject to large fluctuations, which may cause our profitability or losses to fluctuate significantly.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The market price of ethanol is volatile
and subject to large fluctuations. The market price of ethanol is dependent upon many factors, including the supply of ethanol
and the price of gasoline, which is in turn dependent upon the price of petroleum which is highly volatile and difficult to forecast.
For example, although the market price of ethanol increased by approximately 42% for the year ended December 31, 2011 as compared
to 2010, during a period of four weeks at the end of 2011, the market price of ethanol declined by approximately 28%, which substantially
reduced our profitability during the fourth quarter and full year of 2011. Fluctuations in the market price of ethanol may cause
our profitability or losses to fluctuate significantly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Some of our marketing activities
will likely be unprofitable in a market of generally declining ethanol prices due to the nature of our business.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Some of our marketing activities will likely
be unprofitable in a market of generally declining ethanol prices due to the nature of our business. For example, to satisfy customer
demands, we must maintain certain quantities of ethanol inventory for subsequent resale. Moreover, we procure much of our inventory
outside the context of a marketing arrangement and therefore must buy ethanol at a price established at the time of purchase and
sell ethanol at an index price established later at the time of sale that is generally reflective of movements in the market price
of ethanol. As a result, our margins for ethanol sold in these transactions generally decline and may turn negative as the market
price of ethanol declines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Disruptions in ethanol production
infrastructure may adversely affect our business, results of operations and financial condition.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our business depends on the continuing availability
of rail, road, port, storage and distribution infrastructure. In particular, due to limited storage capacity at the Pacific Ethanol
Plants and other considerations related to production efficiencies, the Pacific Ethanol Plants depend on just-in-time delivery
of corn. The production of ethanol also requires a significant and uninterrupted supply of other raw materials and energy, primarily
water, electricity and natural gas. The prices of electricity and natural gas have fluctuated significantly in the past and may
fluctuate significantly in the future. Local water, electricity and gas utilities may not be able to reliably supply the water,
electricity and natural gas that the Pacific Ethanol Plants will need or may not be able to supply those resources on acceptable
terms. Any disruptions in the ethanol production infrastructure, whether caused by labor difficulties, earthquakes, storms, other
natural disasters or human error or malfeasance or other reasons, could prevent timely deliveries of corn or other raw materials
and energy and may require the Pacific Ethanol Plants to halt production which could have a material adverse effect on our business,
results of operations and financial condition.</P>

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

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>We and the Pacific Ethanol Plants
may engage in hedging transactions and other risk mitigation strategies that could harm our results of operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In an attempt to partially offset the effects
of volatility of ethanol prices and corn and natural gas costs, the Pacific Ethanol Plants may enter into contracts to fix the
price of a portion of their ethanol production or purchase a portion of their corn or natural gas requirements on a forward basis.
In addition, we may engage in other hedging transactions involving exchange-traded futures contracts for corn, natural gas and
unleaded gasoline from time to time. The financial statement impact of these activities is dependent upon, among other things,
the prices involved and our ability to sell sufficient products to use all of the corn and natural gas for which forward commitments
have been made. Hedging arrangements also expose us to the risk of financial loss in situations where the other party to the hedging
contract defaults on its contract or, in the case of exchange-traded contracts, where there is a change in the expected differential
between the underlying price in the hedging agreement and the actual prices paid or received by us. As a result, our results of
operations and financial position may be adversely affected by fluctuations in the price of corn, natural gas, ethanol and unleaded
gasoline.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Operational difficulties at the Pacific
Ethanol Plants could negatively impact sales volumes and could cause us to incur substantial losses.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Operations at the Pacific Ethanol Plants
are subject to labor disruptions, unscheduled downtimes and other operational hazards inherent in the ethanol production industry,
including equipment failures, fires, explosions, abnormal pressures, blowouts, pipeline ruptures, transportation accidents and
natural disasters. Some of these operational hazards may cause personal injury or loss of life, severe damage to or destruction
of property and equipment or environmental damage, and may result in suspension of operations and the imposition of civil or criminal
penalties. Insurance obtained by the Pacific Ethanol Plants may not be adequate to fully cover the potential operational hazards
described above or the Pacific Ethanol Plants may not be able to renew this insurance on commercially reasonable terms or at all.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Moreover, the production facilities at the
Pacific Ethanol Plants may not operate as planned or expected. All of these facilities are designed to operate at or above a specified
production capacity. The operation of these facilities is and will be, however, subject to various uncertainties. As a result,
these facilities may not produce ethanol and its co-products at expected levels. In the event any of these facilities do not run
at their expected capacity levels, our business, results of operations and financial condition may be materially and adversely
affected.</P>

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

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

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>The United States ethanol industry
is highly dependent upon myriad federal and state legislation and regulation and any changes in legislation or regulation could
have a material adverse effect on our results of operations and financial condition.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>Various studies have criticized the efficiency
of ethanol in general, and corn-based ethanol in particular, which could lead to the reduction or repeal of mandates that require
the use and domestic production of ethanol or otherwise negatively impact public perception and acceptance of ethanol as an alternative
fuel.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Although many trade groups, academics and
governmental agencies have supported ethanol as a fuel additive that promotes a cleaner environment, others have criticized ethanol
production as consuming considerably more energy and emitting more greenhouse gases than other biofuels and as potentially depleting
water resources. Other studies have suggested that ethanol negatively impacts consumers by causing higher prices for dairy, meat
and other foodstuffs from livestock that consume corn. If these views gain acceptance, support for existing measures requiring
the use and domestic production of corn-based ethanol could decline, leading to a reduction or repeal of these measures. These
views could also negatively impact public perception of the ethanol industry and acceptance of ethanol as a component for blending
in transportation fuel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>Waivers or repeal of the national Renewable Fuel
Standard&rsquo;s minimum levels of renewable fuels included in gasoline could have a material adverse effect on our results of
operations.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Shortly after passage of the Energy Independence
and Security Act of 2007, which increased the minimum mandated required usage of ethanol, a Congressional sub-committee held hearings
on the potential impact of the national Renewable Fuel Standard, or national RFS, on commodity prices. While no action was taken
by the sub-committee towards repeal of the national RFS, any attempt by Congress to re-visit, repeal or grant waivers of the national
RFS could adversely affect demand for ethanol and could have a material adverse effect on our results of operations and financial
condition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>The ethanol production and marketing
industry is extremely competitive. Many of our significant competitors have greater production and financial resources and one
or more of these competitors could use their greater resources to gain market share at our expense. In addition, a number of Kinergy&rsquo;s
suppliers may circumvent the marketing services we provide, causing our sales and profitability to decline. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The ethanol production and marketing industry
is extremely competitive. Many of our significant competitors in the ethanol production and marketing industry, including Archer
Daniels Midland Company and Valero Energy Corporation, have substantially greater production and/or financial resources. As a result,
our competitors may be able to compete more aggressively and sustain that competition over a longer period of time. Successful
competition will require a continued high level of investment in marketing and customer service and support. Our limited resources
relative to many significant competitors may cause us to fail to anticipate or respond adequately to new developments and other
competitive pressures. This failure could reduce our competitiveness and cause a decline in market share, sales and profitability.
Even if sufficient funds are available, we may not be able to make the modifications and improvements necessary to compete successfully.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We also face increasing competition from
international suppliers. Currently, international suppliers produce ethanol primarily from sugar cane and have cost structures
that are generally substantially lower than the cost structures of the Pacific Ethanol Plants. Any increase in domestic or foreign
competition could cause the Pacific Ethanol Plants to reduce their prices and take other steps to compete effectively, which could
adversely affect their and our results of operations and financial condition.</P>

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

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, some of our suppliers are potential
competitors and, especially if the price of ethanol reaches historically high levels, they may seek to capture additional profits
by circumventing our marketing services in favor of selling directly to our customers. If one or more of our major suppliers, or
numerous smaller suppliers, circumvent our marketing services, our sales and profitability may decline.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>If Kinergy fails to satisfy its financial
covenants under its credit facility, it may experience a loss or reduction of that facility, which would have a material adverse
effect on our financial condition and results of operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are substantially dependent on Kinergy&rsquo;s
credit facility, to help finance its operations. Kinergy must satisfy quarterly financial covenants under its credit facility,
including covenants regarding its quarterly EBITDA and fixed coverage ratios. Kinergy will be in default under its credit facility
if it fails to satisfy any financial covenant. A default may result in the loss or reduction of the credit facility. The loss of
Kinergy&rsquo;s credit facility, or a significant reduction in Kinergy&rsquo;s borrowing capacity under the facility, would result
in Kinergy&rsquo;s inability to finance a significant portion of its business and would have a material adverse effect on our financial
condition and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>The high concentration of our sales
within the ethanol marketing and production industry could result in a significant reduction in sales and negatively affect our
profitability if demand for ethanol declines. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We expect to be completely focused on the
marketing and production of ethanol and its co-products for the foreseeable future. We may be unable to shift our business focus
away from the marketing and production of ethanol to other renewable fuels or competing products. Accordingly, an industry shift
away from ethanol or the emergence of new competing products may reduce the demand for ethanol. A downturn in the demand for ethanol
would likely materially and adversely affect our sales and profitability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>In addition to ethanol produced by
the Pacific Ethanol Plants, we also depend on a small number of third-party suppliers for a significant portion of the ethanol
we sell. If any of these suppliers does not continue to supply us with ethanol in adequate amounts, we may be unable to satisfy
the demands of our customers and our sales, profitability and relationships with our customers will be adversely affected.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition to the ethanol produced by the
Pacific Ethanol Plants, we also depend on a small number of third-party suppliers for a significant portion of the ethanol that
we sell. We expect to continue to depend for the foreseeable future upon a small number of third-party suppliers for a significant
portion of the total amount of the ethanol that we sell. Our third-party suppliers are primarily located in the Midwestern United
States. The delivery of ethanol from these suppliers is therefore subject to delays resulting from inclement weather and other
conditions. If any of these suppliers is unable or declines for any reason to continue to supply us with ethanol in adequate amounts,
we may be unable to replace that supplier and source other supplies of ethanol in a timely manner, or at all, to satisfy the demands
of our customers. If this occurs, our sales, profitability and our relationships with our customers will be adversely affected.</P>

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

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>We may be adversely affected by environmental,
health and safety laws, regulations and liabilities.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are subject to various federal, state
and local environmental laws and regulations, including those relating to the discharge of materials into the air, water and ground,
the generation, storage, handling, use, transportation and disposal of hazardous materials, and the health and safety of our employees.
In addition, some of these laws and regulations require us to operate under permits that are subject to renewal or modification.
These laws, regulations and permits can often require expensive pollution control equipment or operational changes to limit actual
or potential impacts to the environment. A violation of these laws and regulations or permit conditions can result in substantial
fines, natural resource damages, criminal sanctions, permit revocations and/or facility shutdowns. In addition, we have made, and
expect to make, significant capital expenditures on an ongoing basis to comply with increasingly stringent environmental laws,
regulations and permits.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may be liable for the investigation and
cleanup of environmental contamination at each of the Pacific Ethanol Plants that New PE Holdco owns or other plants that we operate
and at off-site locations where we arrange for the disposal of hazardous substances. If these substances have been or are disposed
of or released at sites that undergo investigation and/or remediation by regulatory agencies, we may be responsible under the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, or other environmental laws for all or part of the costs of investigation
and/or remediation, and for damages to natural resources. We may also be subject to related claims by private parties alleging
property damage and personal injury due to exposure to hazardous or other materials at or from those properties. Some of these
matters may require us to expend significant amounts for investigation, cleanup or other costs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, new laws, new interpretations
of existing laws, increased governmental enforcement of environmental laws or other developments could require us to make significant
additional expenditures. Continued government and public emphasis on environmental issues can be expected to result in increased
future investments for environmental controls at the Pacific Ethanol Plants. Present and future environmental laws and regulations,
and interpretations of those laws and regulations, applicable to our operations, more vigorous enforcement policies and discovery
of currently unknown conditions may require substantial expenditures that could have a material adverse effect on our results of
operations and financial condition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The hazards and risks associated with producing
and transporting our products (including fires, natural disasters, explosions and abnormal pressures and blowouts) may also result
in personal injury claims or damage to property and third parties. As protection against operating hazards, we maintain insurance
coverage against some, but not all, potential losses. However, we could sustain losses for uninsurable or uninsured risks, or in
amounts in excess of existing insurance coverage. Events that result in significant personal injury or damage to our property or
third parties or other losses that are not fully covered by insurance could have a material adverse effect on our results of operations
and financial condition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>If we are unable to attract and retain
key personnel, our ability to operate effectively may be impaired.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our ability to operate our business and
implement strategies depends, in part, on the efforts of our executive officers and other key employees.&nbsp;Our future success
will depend on, among other factors, our ability to retain our current key personnel and attract and retain qualified future key
personnel, particularly executive management. Failure to attract or retain key personnel could have a material adverse effect on
our business and results of operations.</P>

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

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>We depend on a small number of customers
for the majority of our sales. A reduction in business from any of these customers could cause a significant decline in our overall
sales and profitability.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The majority of our sales are generated
from a small number of customers. During 2010 and 2011, one customer accounted for approximately 22% and 19% of our net sales,
respectively. We expect that we will continue to depend for the foreseeable future upon a small number of customers for a significant
portion of our sales. Our agreements with these customers generally do not require them to purchase any specified amount of ethanol
or dollar amount of sales or to make any purchases whatsoever. Therefore, in any future period, our sales generated from these
customers, individually or in the aggregate, may not equal or exceed historical levels. If sales to any of these customers cease
or decline, we may be unable to replace these sales with sales to either existing or new customers in a timely manner, or at all.
A cessation or reduction of sales to one or more of these customers could cause a significant decline in our overall sales and
profitability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Our lack of long-term ethanol orders
and commitments by our customers could lead to a rapid decline in our sales and profitability.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We cannot rely on long-term ethanol orders
or commitments by our customers for protection from the negative financial effects of a decline in the demand for ethanol or a
decline in the demand for our marketing services. The limited certainty of ethanol orders can make it difficult for us to forecast
our sales and allocate our resources in a manner consistent with our actual sales. Moreover, our expense levels are based in part
on our expectations of future sales and, if our expectations regarding future sales are inaccurate, we may be unable to reduce
costs in a timely manner to adjust for sales shortfalls. Furthermore, because we depend on a small number of customers for a significant
portion of our sales, the magnitude of the ramifications of these risks is greater than if our sales were less concentrated. As
a result of our lack of long-term ethanol orders and commitments, we may experience a rapid decline in our sales and profitability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>We recognized impairment charges
in 2009 and may recognize additional impairment charges in the future.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For 2009, we recognized asset impairment
charges in the aggregate amount of $252.4 million. These impairment charges primarily related to our previously wholly-owned ethanol
facilities. We performed our forecast of expected future cash flows of these facilities over their estimated useful lives. The
forecasts of expected future cash flows are heavily dependent upon management&rsquo;s estimates and probability analysis of various
scenarios including market prices for ethanol, our primary product, and corn, our primary production input. Both ethanol and corn
costs have fluctuated significantly in the past year, therefore these estimates are highly subjective and are management&rsquo;s
best estimates at this time. During 2010, as a result of the sale of our 42% ownership interest in Front Range, we incurred an
additional loss on the difference between our cost basis of the investment in Front Range and the price at which we sold our investment.
We may also incur additional impairments in the future on current or future long-lived assets.</P>

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

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Risks Relating to Ownership of Our
Common Stock and this Offering</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>We have received a delisting notice
from The NASDAQ Stock Market. Our common stock may be involuntarily delisted from trading on The NASDAQ Capital Market if we fail
to regain compliance with the minimum closing bid price requirement of $1.00 per share. A delisting of our common stock is likely
to reduce the liquidity of our common stock and may inhibit or preclude our ability to raise additional financing and may also
materially and adversely impact our credit terms with our vendors.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The quantitative listing standards of The
NASDAQ Stock Market, or NASDAQ, require, among other things, that listed companies maintain a minimum closing bid price of $1.00
per share. We failed to satisfy this threshold for 30 consecutive trading days and on June 6, 2012, we received a letter from NASDAQ
indicating that we have been provided an initial period of 180 calendar days, or until December 3, 2012, in which to regain compliance.
On December 5, 2012, we received a letter from NASDAQ granting us a 180-day extension period, or until June 3, 2013, in which to
regain compliance by meeting the minimum closing bid price of $1.00 per share for ten consecutive business days. If we do not regain
compliance by June 3, 2013, the NASDAQ staff will provide written notice that our common stock is subject to delisting. Given the
increased market volatility arising in part from economic turmoil resulting from the ongoing credit crisis, the challenging environment
in the biofuels industry and our lack of liquidity, we may be unable to regain compliance with the closing bid price requirement
by June 3, 2013. A delisting of our common stock is likely to reduce the liquidity of our common stock and may inhibit or preclude
our ability to raise additional financing and may also materially and adversely impact our credit terms with our vendors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>The conversion of convertible securities
(including our Series B Preferred Stock), the issuance of the shares of our Common Stock in payment of interest on our Notes, and
the exercise of outstanding options and warrants (including the Warrants) to purchase our common stock could substantially dilute
your investment, impede our ability to obtain additional financing, and cause us to incur additional expenses.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the terms of our Series B Preferred
Stock that are convertible into our common stock, warrants (including the Warrants) to purchase our common stock, and outstanding
options to acquire our common stock issued to employees, directors and others, the holders of these securities are given an opportunity
to profit from a rise in the market price of our common stock such that, conversion of the Series B Preferred Stock or the exercise
of these warrants (including the Warrants) and/or options, will result in dilution in the interests of our other stockholders.
In addition, the issuance of shares of our common stock, at our election in payment of interest on our Notes, will result in dilution
in the interests of our other stockholders. The terms on which we may obtain additional financing may be adversely affected by
the existence and potentially dilutive impact of the Notes, Series B Preferred Stock, options and warrants (including the Warrants).
In addition, holders of the Notes and Warrants have registration rights with respect to the common stock underlying the Notes and
Warrants), the registration of which will cause us to incur a substantial expense.</P>

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

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The market price of our common stock
and the value of your investment could substantially decline if our Notes or Series B Preferred Stock are converted into shares
of our common stock, if we issue shares of our common stock in payment of interest on our Notes and if our options and warrants
(including the Warrants) are exercised for shares of our common stock and all of these shares of common stock are resold into the
market, or if a perception exists that a substantial number of shares will be issued upon conversion of our Notes or Series B Preferred
Stock, upon the payment of interest on the Notes or upon exercise of our warrants (including the Warrants) or options and then
resold into the market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the conversion prices at which the Series
B Preferred Stock is converted, the conversion prices at which shares of common stock in payment of interest on the Notes are issued,
and the exercise prices at which our warrants (including the Warrants) and options are exercised are lower than the price at which
you made your investment, immediate dilution of the value of your investment will occur. In addition, sales of a substantial number
of shares of common stock issued upon conversion of Series B Preferred Stock, in lieu of cash payments of interest on the Notes
and upon exercise of our warrants (including the Warrants) and options, or even the perception that these sales could occur, could
adversely affect the market price of our common stock. As a result, you could experience a substantial decline in the value of
your investment as a result of both the actual and potential conversion of our outstanding shares of Series B Preferred Stock,
issuance of shares of common stock in lieu of cash payments of interest on the Notes and exercise of our outstanding warrants (including
the Warrants) or options.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">The issuance of shares upon the conversion
of Series B Preferred Stock, upon the payment of interest on the Notes and upon the exercise of outstanding options and warrants
(including the Warrants) could result in a change of control of Pacific Ethanol.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of February 6, 2013, we had outstanding
options, warrants (including the Warrants), and Series B Preferred Stock that were exercisable for or convertible into approximately
108,155,814 shares of common stock based on conversion and exercise prices as of that date. A change of control of Pacific Ethanol
could occur if a significant number of shares of our common stock are issued to the holders of our outstanding options, warrants
(including the Warrants), Notes or shares of Series B Preferred Stock.&nbsp; If a change of control occurs, then the stockholders
who historically have controlled our company would no longer have the ability to exert significant control over matters that could
include the election of our directors, changes in the size and composition of our board of directors, and mergers and other business
combinations involving Pacific Ethanol. Instead, one or more other stockholders could gain the ability to exert this type of control
and may also, through control of our board of directors and voting power, be able to control a number of decisions, including decisions
regarding the qualification and appointment of officers, dividend policy, access to capital (including borrowing from third-party
lenders and the issuance of additional equity securities), and the acquisition or disposition of our assets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Future sales of substantial amounts
of our common stock could adversely affect the market price of our common stock.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Future sales of substantial amounts of our
common stock, or securities convertible or exchangeable into shares of our common stock, into the public market, including shares
of our common stock issued upon exercise of options and warrants (including the Warrants), or perceptions that those sales could
occur, could adversely affect the prevailing market price of our common stock and our ability to raise capital in the future. Resales
of substantial amounts of the shares of our common stock issued in this offering could have a negative effect on our stock price.</P>

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

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Our stock price is highly volatile,
which could result in substantial losses for investors purchasing shares of our common stock and in litigation against us.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The market price of our common stock has
fluctuated significantly in the past and may continue to fluctuate significantly in the future. The market price of our common
stock may continue to fluctuate in response to one or more of the following factors, many of which are beyond our control:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to maintain contracts that are critical to our operations, including the asset management agreement with the Plant
Owners that provide us with the ability to operate the Pacific Ethanol Plants and the marketing agreements with the Plant Owners
whose facilities are operational that provide us with the ability to market all ethanol and co-products produced by the Pacific
Ethanol Plants;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>fluctuations in the market price of ethanol and its co-products;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the cost of key inputs to the production of ethanol, including corn and natural gas;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the volume and timing of the receipt of orders for ethanol from major customers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>competitive pricing pressures;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to produce, sell and deliver ethanol on a cost-effective and timely basis;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the introduction and announcement of one or more new alternatives to ethanol by our competitors;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in market valuations of similar companies;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>stock market price and volume fluctuations generally;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>regulatory developments or increased enforcement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>fluctuations in our quarterly or annual operating results;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>additions or departures of key personnel;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our inability to obtain financing; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our financing activities and future sales of our common stock or other securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Furthermore, we believe that the economic
conditions in California and other Western states, as well as the United States as a whole, could have a negative impact on our
results of operations. Demand for ethanol could also be adversely affected by a slow-down in overall demand for oxygenate and gasoline
additive products. The levels of our ethanol production and purchases for resale will be based upon forecasted demand. Accordingly,
any inaccuracy in forecasting anticipated revenues and expenses could adversely affect our business. The failure to receive anticipated
orders or to complete delivery in any quarterly period could adversely affect our results of operations for that period. Quarterly
results are not necessarily indicative of future performance for any particular period, and we may not experience revenue growth
or profitability on a quarterly or an annual basis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The price at which you purchase shares of
our common stock may not be indicative of the price that will prevail in the trading market. You may be unable to sell your shares
of common stock at or above your purchase price, which may result in substantial losses to you and which may include the complete
loss of your investment. In the past, securities class action litigation has often been brought against a company following periods
of high stock price volatility. We may be the target of similar litigation in the future. Securities litigation could result in
substantial costs and divert management&rsquo;s attention and our resources away from our business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any of the risks described above could have
a material adverse effect on our results of operations, the price of our common stock, or both.</P>

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

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus contains forward-looking
statements, including statements concerning future conditions in the industries within which we operate, and concerning our future
business, financial condition, operating strategies, and operational and legal risks. Words like &ldquo;believe,&rdquo; &ldquo;expect,&rdquo;
&ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;could,&rdquo; &ldquo;seek,&rdquo; &ldquo;estimate,&rdquo; &ldquo;continue,&rdquo;
&ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo; &ldquo;future,&rdquo; &ldquo;plan&rdquo; or variations of those terms and other
similar expressions, including their use in the negative, are used in this prospectus to identify forward-looking statements. You
should not place undue reliance on these forward-looking statements, which speak only as to our expectations, as of the date of
this prospectus. These forward-looking statements are subject to a number of risks and uncertainties, including those identified
under &ldquo;Risk Factors&rdquo; and elsewhere in this prospectus. Although we believe that the expectations reflected in these
forward-looking statements are reasonable, actual conditions in the industries within which we operate, and actual conditions and
results in our business, could differ materially from those expressed in these forward-looking statements. In addition, none of
the events anticipated in the forward-looking statements may actually occur. Any of these different outcomes could cause the price
of our common stock to decline substantially. Except as required by law, we undertake no duty to update any forward-looking statement
after the date of this prospectus, either to conform any statement to reflect actual results or to reflect the occurrence of unanticipated
events.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will not receive any of the proceeds
from the sale of the shares of common stock offered under this prospectus by the selling security holders. Rather, the selling
security holders will receive those proceeds directly.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have never paid cash dividends on our
common stock and do not intend to pay cash dividends on our common stock in the foreseeable future. We anticipate that we will
retain any earnings for use in the continued development of our business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Several of our current and future debt financing
arrangements may limit or prevent cash distributions from our subsidiaries to us, depending upon the achievement of specified financial
and other operating conditions and our ability to properly service our debt, thereby limiting or preventing us from paying cash
dividends. Further, the holders of our outstanding Series B Preferred Stock are entitled to dividends of 7% per annum, payable
quarterly in arrears. In 2012, we paid, in cash, the dividends on out outstanding shares of Series B Preferred Stock as they became
due. As of February 6, 2013, we had accrued unpaid dividends of approximately $5.9 million on our Series B Preferred Stock. The
holders of our outstanding Series B Preferred Stock have agreed to forbear from exercising any and all of their rights and remedies
against us with respect to such unpaid dividends. Accumulated and unpaid dividends in respect of our Series B Preferred Stock must
be paid prior to the payment of any dividends on shares of our common stock.</P>

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

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">PRICE RANGE
OF COMMON STOCK</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our common stock has traded on The NASDAQ
Capital Market under the symbol &ldquo;PEIX&rdquo; since May&nbsp;3, 2010. Between October 10, 2005 and May&nbsp;3, 2010, our common
stock traded on The NASDAQ Global Market (formerly, The NASDAQ National Market). On June 8, 2011, we effected a one-for-seven reverse
split of our common stock. The table below shows, for each fiscal quarter indicated, the high and low sales prices for shares of
our common stock. The prices for periods prior June 8, 2011, have been retroactively restated as if the reverse split had occurred
on January 1, 2010. The prices shown reflect inter-dealer prices, without retail mark-up, mark-down or commission, and may not
necessarily represent actual transactions.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 12pt; font-weight: bold; text-indent: -12pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 3pt; font-weight: bold; text-decoration: underline; text-align: center">Price Range</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%; padding-left: 12pt; font-weight: bold; text-indent: -12pt">&nbsp;</TD>
    <TD STYLE="width: 15%; font-weight: bold; text-decoration: underline; text-align: center">High</TD>
    <TD STYLE="width: 15%; font-weight: bold; text-decoration: underline; text-align: center">Low</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-left: 12pt; font-weight: bold; text-indent: -12pt">Year Ending December 31, 2012:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">First Quarter (January 1 &ndash; March 31)</TD>
    <TD STYLE="text-align: center">$&nbsp; 1.69</TD>
    <TD STYLE="text-align: center">$&nbsp; 1.00</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">Second Quarter (April 1 &ndash; June 30)</TD>
    <TD STYLE="text-align: center">$&nbsp; 1.13</TD>
    <TD STYLE="text-align: center">$&nbsp; 0.31</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">Third Quarter (July 1 &ndash; September 30)</TD>
    <TD STYLE="text-align: center">$&nbsp; 0.70</TD>
    <TD STYLE="text-align: center">$&nbsp; 0.27</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">Fourth Quarter (October 1 &ndash; December 31)</TD>
    <TD STYLE="text-align: center">$&nbsp; 0.43</TD>
    <TD STYLE="text-align: center">$&nbsp; 0.30</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; font-weight: bold; text-indent: -12pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-left: 12pt; font-weight: bold; text-indent: -12pt">Year Ended December 31, 2011:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">First Quarter (January 1 &ndash; March 31)</TD>
    <TD STYLE="text-align: center">$&nbsp; 7.98</TD>
    <TD STYLE="text-align: center">$&nbsp; 4.20</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">Second Quarter (April 1 &ndash; June 30)</TD>
    <TD STYLE="text-align: center">$&nbsp; 4.55</TD>
    <TD STYLE="text-align: center">$&nbsp; 1.08</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">Third Quarter (July 1 &ndash; September 30)</TD>
    <TD STYLE="text-align: center">$&nbsp; 1.31</TD>
    <TD STYLE="text-align: center">$&nbsp; 0.25</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">Fourth Quarter (October 1 &ndash; December 31)</TD>
    <TD STYLE="text-align: center">$&nbsp; 1.85</TD>
    <TD STYLE="text-align: center">$&nbsp; 0.25</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; font-weight: bold; text-indent: -12pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-left: 12pt; font-weight: bold; text-indent: -12pt">Year Ending December 31, 2010:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">First Quarter (January 1 &ndash; March 31)</TD>
    <TD STYLE="text-align: center">$19.25</TD>
    <TD STYLE="text-align: center">$4.97</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">Second Quarter (April 1 &ndash; June 30)</TD>
    <TD STYLE="text-align: center">$11.20</TD>
    <TD STYLE="text-align: center">$3.15</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">Third Quarter (July 1 &ndash; September 30)</TD>
    <TD STYLE="text-align: center">$8.75</TD>
    <TD STYLE="text-align: center">$2.59</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: bottom; padding-left: 12pt; text-indent: -12pt">Fourth Quarter (October 1 &ndash; December 31)</TD>
    <TD STYLE="text-align: center">$7.98</TD>
    <TD STYLE="text-align: center">$4.06</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 12pt; font-weight: bold; text-indent: -12pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of February 6, 2013, we had 149,203,614
shares of common stock outstanding held of record by approximately 420 stockholders. These holders of record include depositories
that hold shares of stock for brokerage firms which, in turn, hold shares of stock for numerous beneficial owners. On February
6, 2013, the last reported price of our common stock on The NASDAQ Capital Market was $0.38 per share.</P>

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

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Equity Compensation Plan Information</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table provides information
about our common stock that may be issued upon the exercise of options, warrants and rights under all of our existing equity compensation
plans as of December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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="font-weight: bold; border-bottom: Black 1pt solid">Plan Category</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of<BR> Securities to be<BR> Issued Upon Exercise of Outstanding<BR> Options, Warrants<BR> or Stock Rights</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted-Average <BR>Exercise Price of Outstanding Options, Warrants and Rights</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; border-bottom: Black 0.5pt solid; margin-bottom: 0pt; text-align: center"><B>Number
                                                                                      of Securities Remaining Available for Future Issuance Under Equity Compensation Plans<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(1)</SUP></FONT></B></P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 0pt">Equity Compensation Plans Approved by Security Holders:</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2.9pt; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2.9pt; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2.9pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 49%; padding-left: 0pt">2004 Plan<SUP>(1)</SUP></TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center; padding-left: 2.9pt">11,429</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center; padding-left: 2.9pt">$57.82</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center; padding-left: 2.9pt">&mdash;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-left: 0pt">2006 Plan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.9pt">183,345</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.9pt">$0.86</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.9pt">5,107,959</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Our 2004 Plan was terminated effective September 7, 2006, except to the extent of then-outstanding options.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33pt; text-indent: -16.5pt">&nbsp;</P>

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

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

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

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

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

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS OF<BR>
FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following discussion and analysis should
be read in conjunction with our consolidated financial statements and notes to consolidated financial statements included elsewhere
in this prospectus. This prospectus and our consolidated financial statements and notes to consolidated financial statements contain
forward-looking statements, which generally include the plans and objectives of management for future operations, including plans
and objectives relating to our future economic performance and our current beliefs regarding revenues we might generate and profits
we might earn if we are successful in implementing our business and growth strategies. The forward-looking statements and associated
risks may include, relate to or be qualified by other important factors, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">fluctuations in the market price of ethanol and its co-products;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the projected growth or contraction in the ethanol and co-product markets in which we operate;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our strategies for expanding, maintaining or contracting our presence in these markets;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our ability to successfully manage and operate third party ethanol production facilities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">anticipated trends in our financial condition and results of operations; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our ability to distinguish ourselves from our current and future competitors.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol"></FONT></TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You are cautioned not to place undue reliance
on any forward-looking statements, which speak only as of the date of this prospectus, or in the case of a document incorporated
by reference, as of the date of that document. We do not undertake to update, revise or correct any forward-looking statements,
except as required by law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any of the factors described above, elsewhere
in this prospectus or in the &ldquo;Risk Factors&rdquo; section of this prospectus could cause our financial results, including
our net income or loss or growth in net income or loss to differ materially from prior results, which in turn could, among other
things, cause the price of our common stock to fluctuate substantially.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are the leading marketer and producer
of low-carbon renewable fuels in the Western United States.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We market all the ethanol produced by the
Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased
from other third-party suppliers throughout the United States. We also market ethanol co-products, including WDG, for the Pacific
Ethanol Plants. We have extensive customer relationships throughout the Western United States. Our ethanol customers are integrated
oil companies and gasoline marketers who blend ethanol into gasoline. We arrange for transportation, storage and delivery of ethanol
purchased by our customers through our agreements with third-party service providers in the Western United States, primarily in
California, Arizona, Nevada, Utah, Oregon, Colorado, Idaho and Washington. Our WDG customers are dairies and feedlots located near
the Pacific Ethanol Plants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have extensive supplier relationships
throughout the Western and Midwestern United States. In some cases, we have marketing agreements with suppliers to market all of
the output of their facilities.</P>

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

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After our recent acquisitions of additional
ownership interests in New PE Holdco, we hold an 80% ownership interest in New PE Holdco which indirectly owns the Pacific Ethanol
Plants through its ownership of the Plant Owners. We operate and maintain the Pacific Ethanol Plants under the terms of an asset
management agreement with New PE Holdco and the Plant Owners. We also market ethanol and WDG produced by the Pacific Ethanol Plants
under the terms of separate marketing agreements with the Plant Owners whose facilities are operational. In addition, we provide
operations, maintenance and accounting services for a 250,000 gallon per year cellulosic integrated biorefinery owned by ZeaChem
Inc. in Boardman, Oregon, which is adjacent to the Pacific Ethanol Columbia plant.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We earn fees as follows under our asset
management and other agreements with New PE Holdco and the Plant Owners:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify">ethanol marketing fees of approximately 1% of the net sales price but not less than $0.015 per
gallon and not more than $0.0225 per gallon;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify">corn procurement and handling fees of $0.045 per bushel;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify">WDG fees of 5% of the third party purchase price, but not less than $2.00 per ton and not more
than $3.50 per ton; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify">asset management fees of $75,000 per month for each operating facility and $40,000 per month for
each idled facility.</TD></TR></TABLE>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We intend to maintain and advance our position
as the leading marketer and producer of low-carbon renewable fuels in the Western United States, in part by expanding our relationships
with customers and third-party ethanol producers to market higher volumes of ethanol and by expanding the market for ethanol by
continuing to work with state governments to encourage the adoption of policies and standards that promote ethanol as a fuel additive
and transportation fuel. Further, we may seek to provide management services for other third-party ethanol production facilities
in the Western United States.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nine Months Ended September 30, 2012 Compared to the Nine
Months Ended September 30, 2011</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">The following selected financial information
should be read in conjunction with our consolidated financial statements and notes to our consolidated financial statements included
elsewhere in this prospectus, and the other sections of &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition
and Results of Operations&rdquo; contained in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">Certain performance metrics that we believe
are important indicators of our results of operations include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended <BR>September 30,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 49%; text-align: left; padding-left: 0pt; padding-right: 0pt">Production gallons sold (in millions)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">106.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">113.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="text-align: right; width: 13%">(6.2</TD><TD STYLE="text-align: left; width: 1%">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt">Third party gallons sold (in millions)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">232.7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">194.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 0pt; padding-right: 0pt">Total gallons sold (in millions)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">338.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">307.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0pt; padding-right: 0pt">&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(238,238,238)">
    <TD STYLE="padding-left: 0pt; padding-right: 0pt">Average sales price per gallon</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.43</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12.9</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt; padding-right: 0pt">Corn cost per bushel &ndash; CBOT equivalent (1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.73</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.95</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3.2</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-left: 0pt; padding-right: 0pt">Co-product revenues as % of delivered cost of corn</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26.2</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22.7</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.4</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0pt; padding-right: 0pt">&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(238,238,238)">
    <TD STYLE="padding-left: 0pt; padding-right: 0pt">Average CBOT ethanol price per gallon</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.29</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.62</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12.6</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0pt; padding-right: 0pt">Average CBOT corn price per bushel</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.81</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.99</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2.6</TD><TD STYLE="text-align: left">)%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 76.5pt 0pt 27pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 18pt">(1)</TD><TD STYLE="padding-right: 76.5pt">We exclude transportation&mdash;or &ldquo;basis&rdquo;&mdash;costs in our corn costs to calculate
a Chicago Board of Trade, or CBOT, equivalent price to compare our corn costs to average CBOT corn prices.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 76.5pt 0pt 27pt; text-indent: -0.25in">&nbsp;</P>

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 76.5pt 0pt 27pt; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>Net Sales, Cost
of Goods Sold and Gross Profit (Loss)</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.15pt">The following table presents our net sales,
cost of goods sold and gross profit (loss) in dollars and gross profit (loss) as a percentage of net sales (in thousands, except
percentages):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.15pt">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended <BR>September 30,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance in</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dollars</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 32%; text-align: left; padding-left: 1.45pt">Net sales</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">619,026</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">659,390</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">(40,364)</TD><TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center; padding-left: 5.4pt">(6.1)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 1.45pt">Cost of goods sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">633,843</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">647,355</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,512)</TD><TD STYLE="padding-bottom: 1pt; text-align: left"></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 5.4pt">(2.1)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 1.45pt">Gross profit (loss)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(14,817)</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12,035</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(26,852)</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; padding-left: 5.4pt; text-align: center">NM</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 9.5pt">Percentage of net sales</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">(2.4)%</TD><TD STYLE="font-style: italic; text-align: left"></TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">1.8%</TD><TD STYLE="font-style: italic; text-align: left"></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: center; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">The decrease in our sales for the nine
months ended September 30, 2012 as compared to the same period in 2011 was due to a decrease in our average sales price per gallon,
partially offset by an increase in our total volume of ethanol gallons sold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">Our average sales price per gallon decreased
13% to $2.43 for the nine months ended September 30, 2012 from an average sales price per gallon of $2.79 for the same period in
2011, consistent with the decrease in the average CBOT ethanol price per gallon for the comparable periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">Total volume of ethanol gallons sold increased
by 30.9 million gallons, or 10%, to 338.7 million gallons for the nine months ended September 30, 2012 as compared to 307.8 million
gallons for the same period in 2011. The overall increase in gallons sold is primarily due to an increase in third party gallons
sold, predominantly from additional gallons sold through third-party ethanol marketing arrangements, including from the Keyes,
California production facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Cost of Goods Sold and Gross Profit (Loss)</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our gross margin decreased to negative 2.4%
for the nine months ended September 30, 2012 from positive 1.8% for the same period in 2011. Our gross profit (loss) decreased
to a loss of $14.8 million for the nine months ended September 30, 2012 from a profit of $12.0 million for the same period in 2011.
The decreases in our gross margin and our gross profit were primarily due to lower corn crush margins. In addition, for the nine
months ended September 30, 2011, we were able to offset approximately $1.5 million of our production costs due to elevated corn
prices with proceeds from the California Ethanol Producer Incentive Program, which were recorded as reductions to cost of goods
sold. We did not receive any such proceeds for the nine months ended September 30, 2012.</P>

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

<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>Selling, General
and Administrative Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">The following table presents our selling,
general and administrative expenses, or SG&amp;A, in dollars and as a percentage of net sales (in thousands, except percentages):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended <BR>
September 30,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance in</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dollars</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt; text-indent: -11pt">&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(238,238,238)">
    <TD STYLE="width: 32%; text-align: left; padding-bottom: 2.5pt; padding-left: 11pt; text-indent: -11pt">Selling, general and administrative expenses</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">9,400</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">11,742</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(2,342)</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left"></TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(19.9)%</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; text-indent: 9.35pt; padding-left: 1.45pt">Percentage of net sales</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">1.5%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">1.8%</TD><TD STYLE="font-style: italic; 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>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SG&amp;A decreased $2.3 million to $9.4
million for the nine months ended September 30, 2012 as compared to $11.7 million for the same period in 2011. The decrease in
SG&amp;A is primarily due to the following factors:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a $1.3 million reduction in noncash compensation expenses due to the decreased value of restricted stock awards to our employees
and members of our board of directors; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a $1.2 million reduction in legal expenses.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Fair Value Adjustments on Convertible
Debt and Warrants</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">The following table presents our fair value
adjustments on convertible debt and warrants in dollars and as a percentage of net sales (in thousands, except percentages):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended<BR> September 30,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance in</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dollars</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt; text-indent: -11pt">&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(238,238,238)">
    <TD STYLE="width: 32%; text-align: left; padding-bottom: 2.5pt; padding-left: 1.45pt">Fair value adjustments on convertible debt and warrants</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">352</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">6,968</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(6,616)</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left"></TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(94.9)%</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; text-indent: 9.35pt; padding-left: 1.45pt">Percentage of net sales</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">0.1%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">1.1%</TD><TD STYLE="font-style: italic; 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>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We issued convertible debt and warrants
beginning in the fourth quarter of 2010 for $35.0 million in cash. The convertible debt and warrants were recorded at fair value.
We issued additional warrants in December 2011, July 2012 and September 2012, which were also recorded at fair value. We recorded
income of $0.4 million and $7.0 million related to the subsequent fair value adjustments of these instruments for the nine months
ended September 30, 2012 and 2011, respectively.</P>

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

<!-- Field: Page; Sequence: 24; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>Interest Expense,
net</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">The following table presents our interest
expense, net in dollars and as a percentage of net sales (in thousands, except pe<FONT STYLE="background-color: White">rcentages):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt"><FONT STYLE="background-color: White">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended <BR>
September 30,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance in</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dollars</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt; text-indent: -11pt">&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(238,238,238)">
    <TD STYLE="width: 32%; text-align: left; padding-bottom: 2.5pt; padding-left: 1.45pt">Interest expense, net</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">9,380</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">11,337</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(1,957)</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left"></TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(17.3)%</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 7.45pt">Percentage of net sales</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">1.5%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">1.7%</TD><TD STYLE="font-style: italic; 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>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33pt">Interest expense, net
decreased by $1.9 million to $9.4 million for the nine months ended September 30, 2012 from $11.3 million for the same period in
2011. The decrease in interest expense, net for these periods is primarily due to decreased average debt balances, largely due
to the retirement of our convertible debt in November 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>Other Expense,
net</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">The following table presents our other
expense, net in dollars and as a percentage of net sales (in thousands, except percentages):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt"><FONT STYLE="background-color: White">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended <BR>
September 30,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance in</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dollars</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt; text-indent: -11pt">&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(238,238,238)">
    <TD STYLE="width: 32%; text-align: left; padding-bottom: 2.5pt; padding-left: 0pt">Other expense, net</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">499</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">709</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(210)</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left"></TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(29.6)%</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 10.3pt">Percentage of net sales</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">0.1%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">0.1%</TD><TD STYLE="font-style: italic; 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>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33pt">Other expense, net decreased
by $0.2 million to $0.5 million for the nine months ended September 30, 2012 from $0.7 million for the same period in 2011. The
decreases in other expense, net are primarily due to reductions in bank fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Net Loss Attributed to Noncontrolling
Interest in Variable Interest Entity</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">The following table presents the portion
of our net loss attributed to noncontrolling interest in variable interest entity in dollars and as a percentage of net sales (in
thousands, except percentages):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt"><FONT STYLE="background-color: White">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended <BR> September 30,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance in</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dollars</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt; text-indent: -11pt">&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: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 32%; text-align: left; padding-bottom: 2.5pt; padding-left: 11pt; text-indent: -11pt">Net loss attributed to noncontrolling interest in variable interest entity</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">20,191</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">9,905</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">10,286</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: center; width: 15%">NM</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 10.3pt">Percentage of net sales</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">3.3%</TD><TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">1.5%</TD><TD STYLE="font-style: italic; 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: right; padding-left: 1.45pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<!-- Field: Page; Sequence: 25; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Net loss attributed to noncontrolling interest
in variable interest entity relates to our consolidated treatment of New PE Holdco, a variable interest entity. For the nine months
ended September 30, 2012 and 2011, we consolidated the entire income statement of New PE Holdco. However, because we owned less
than 100% of New PE Holdco, we reduced our net income (loss) for the amount attributed to noncontrolling interest in variable interest
entity corresponding to the ownership interest that we do not own. From January 1, 2012 through July 13, 2012, we owned 33% of
the outstanding interests of New PE Holdco. On July 13, 2012, we increased our ownership to 67%. At December 31, 2012, we held
67% of the outstanding membership interests of New PE Holdco.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>Net Income (Loss)
Attributed to Pacific Ethanol</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">The following table presents our net income
(loss) attributed to Pacific Ethanol in dollars and as a percentage of net sales (in thousands, except percentages):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance in</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dollars</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt; text-indent: -11pt">&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(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt; text-indent: -11pt; width: 32%">Net income (loss) attributed to Pacific Ethanol</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(13,553)</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left"></TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">5,120</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(18,673)</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left"></TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: center"><P STYLE="text-align: center">NM</P></TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 10.3pt">Percentage of net sales</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">(2.2)%</TD><TD STYLE="font-style: italic; text-align: left"></TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">0.8%</TD><TD STYLE="font-style: italic; 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>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Net income (loss) attributed to Pacific Ethanol
decreased during the nine months ended September 30, 2012 as compared to the same period in 2011, primarily due to our lower gross
profit resulting from lower corn crush margins and additional losses attributed to Pacific Ethanol from our increased ownership
interest in New PE Holdco, which generated losses at the plant-level.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.5pt"><B><I>Preferred Stock
Dividends and Income (Loss) Available to Common Stockholders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">The following table presents our preferred
stock dividends in dollars for our Series B Cumulative Convertible Preferred Stock, or Series B Preferred Stock, these preferred
stock dividends as a percentage of net sales, and our income (loss) available to common stockholders in dollars and our income
(loss) available to common stockholders as a percentage of net sales (in thousands, except percentages):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt"><FONT STYLE="background-color: White">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance in</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dollars</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt; text-indent: -11pt; width: 32%">Preferred stock dividends</TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(949)</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; width: 1%"></TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(946)</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; width: 1%"></TD><TD STYLE="width: 2%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(3)</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; width: 1%"></TD><TD STYLE="width: 2%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 1%">&nbsp;</TD><TD STYLE="width: 13%; border-bottom: Black 2.5pt double; text-align: right">(0.3)%</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; width: 1%"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt; text-indent: -11pt">Percentage of net sales</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">(0.1)%</TD><TD STYLE="font-style: italic; text-align: left"></TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">(0.1)%</TD><TD STYLE="font-style: italic; text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 0pt; text-indent: 0pt; padding-bottom: 2.5pt">Income (loss) available to common stockholders</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">(14,502)</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">4,174</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">(18,676)</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><P STYLE="text-align: center">NM</P></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-left: 10.3pt">Percentage of net sales</TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">(2.3)%</TD><TD STYLE="font-style: italic; text-align: left"></TD><TD STYLE="font-style: italic">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-style: italic; text-align: right">0.6%</TD><TD STYLE="font-style: italic; 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>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Shares of our Series B Preferred Stock are
entitled to quarterly cumulative dividends payable in arrears in an amount equal to 7% per annum of the purchase price per share
of the Series B Preferred Stock. We have recorded dividends on our Series B Preferred Stock in the aggregate amount of $0.9 million
for the nine months ended September 30, 2012 and 2011. We paid the dividends for the nine months ended September 30, 2012, however,
we accrued and did not pay any dividends for the nine months ended September 30, 2011, resulting in total accrued and unpaid dividends
of $6.6 million as of September 30, 2012.</P>

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

<!-- Field: Page; Sequence: 26; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Year Ended December 31, 2011 Compared to the Year Ended December
31, 2010</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Financial Performance Summary</I></B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We consolidate New PE Holdco&rsquo;s financial
results due to the nature of our ownership in and control over New PE Holdco. However, since we do not wholly-own New PE Holdco,
we must adjust our consolidated net income (loss) for the income (loss) attributed to New PE Holdco&rsquo;s other owners. This
adjustment results in net income (loss) attributed to Pacific Ethanol, Inc. See &ldquo;&mdash;Results of Operations-Accounting
for the Results of New PE Holdco&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Our consolidated net sales increased by 174%,
or $572.9 million, to $901.2 million for 2011 from $328.3 million for 2010. Our net income attributed to Pacific Ethanol, Inc.
decreased by $70.8 million to $3.1 million for 2011 from $73.9 million for 2010, the latter of which included a $119.4 million
gain related to the Plant Owners&rsquo; exit from bankruptcy in 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Factors that contributed to our results of
operations for 2011 include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Net sales. </I>The increase in our net sales for 2011 as compared to 2010 was primarily due to the following combination
of factors:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD><I>Higher sales volumes.</I> Total volume of ethanol sold increased by 56% to 424.1 million gallons for 2011 from 271.6 million
gallons for 2010. This increase in sales volume is due to an increase in both production and third party gallons sold. In 2011,
three Pacific Ethanol Plants were operating for the full year, whereas in 2010, only two Pacific Ethanol Plants were operating
most of the year.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD><I>Higher ethanol prices</I>. Our average sales price of ethanol increased 42% to $2.79 per gallon for 2011 as compared to
$1.96 per gallon for 2010.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD><I>Consolidation of New PE Holdco</I>. In 2011, we consolidated the results of New PE Holdco for the entire year, whereas in
2010, we did not consolidate New PE Holdco&rsquo;s results for the three months ended September 30, 2010. For this period we included
only our net marketing fees associated with sales volumes from the Pacific Ethanol Plants. As a result, our net sales were lower
by $55.6 million for 2010.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Gross margin. </I>Our gross margin improved to 2.2% for 2011 from negative 0.2% for 2010. The improvement in gross margin
was primarily the result of improved operating margins at the Pacific Ethanol Plants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Selling, general and administrative expenses</I>. Our selling, general and administrative expenses, or SG&amp;A, increased
by $2.4 million to $15.4 million for 2011, as compared to $13.0 million for 2010, primarily as a result of increases in payroll
and benefits, taxes and permits, amortization of intangibles, rent expense and professional fees, which were partially offset by
decreases in noncash compensation expense.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt"><I>&nbsp;</I></P>

<!-- Field: Page; Sequence: 27; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Fair value adjustments on convertible notes and warrants. </I>We issued convertible notes and warrants in 2010 for $35.0
million in cash. In addition, we issued warrants in December 2011. These instruments were recorded at fair value, with quarterly
adjustments for their fair value, resulting in a charge to net income of $7.6 million for 2011 as compared to a charge of $11.7
million for 2010.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Interest expense. </I>Our interest expense increased by $8.0 million to $14.8 million for 2011 from $6.8 million for 2010.
This increase is primarily due to increased average debt balances related to our convertible notes and line of credit facilities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Other income (expense). </I>Our other income (expense) decreased by $1.5 million to an expense of $0.7 million for 2011
from income of $0.8 million for 2010. This decrease is primarily due to a gain of $1.6 million associated with our purchase of
a 20% ownership interest in New PE Holdco in 2010.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Gain from bankruptcy exit. </I>On June 29, 2010, the Plant Owners exited from bankruptcy, resulting in the removal of $119.4
million in net liabilities from our balance sheet, which was recorded as a gain for 2010.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Sales and Margins</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We generate sales by marketing all the ethanol
produced by the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States
and ethanol purchased from other third-party suppliers throughout the United States. We also market ethanol co-products, including
WDG, for the Pacific Ethanol Plants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Our profitability is highly dependent on
various commodity prices, including the market prices of ethanol, corn and natural gas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Average ethanol sales prices increased in
2011 as compared to 2010. The average price of ethanol, as reported by the Chicago Board of Trade, or CBOT, increased by 42% to
$2.58 for 2011 from $1.82 for 2010. However, over a period of four weeks at the end of 2011, the market price of ethanol declined
by approximately 28%. The increase in the price of ethanol during 2011 was primarily due to an increase in crude oil prices. The
significant drop in the price of ethanol at the end of 2011 was due to a substantial drop in demand for gasoline, of which ethanol
is a primary blend stock component.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Average corn prices also increased in 2011
as compared to 2010. Specifically, the average price of corn, as reported by the CBOT, increased by 58% to $6.80 for 2011 from
$4.30 for 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We have three principal methods of selling
ethanol: as a merchant, as a producer and as an agent. See &ldquo;&mdash;Critical Accounting Policies&mdash;Revenue Recognition&rdquo;
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<!-- Field: Page; Sequence: 28; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">When acting as a merchant or as a producer,
we generally enter into sales contracts to ship ethanol to a customer&rsquo;s desired location. We support these sales contracts
through purchase contracts with several third-party suppliers or through our own production. We manage the necessary logistics
to deliver ethanol to our customers either directly from a third-party supplier or from our inventory via truck or rail. Our sales
as a merchant or as a producer expose us to significant price risks resulting from potential fluctuations in the market price of
ethanol and corn. Our exposure varies depending on the magnitude of our sales and purchase commitments compared to the magnitude
of our existing inventory, as well as the pricing terms&mdash;such as market index or fixed pricing&mdash;of our contracts. We
seek to mitigate our exposure to price risks by implementing appropriate risk management strategies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">When acting as an agent for third-party suppliers,
we conduct back-to-back purchases and sales in which we match ethanol purchase and sale contracts of like quantities and delivery
periods. When acting in this capacity, we receive a predetermined service fee and have little or no exposure to price risks resulting
from potential fluctuations in the market price of ethanol. For these sales, we record the marketing fee as net sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We believe that our gross profit margins
depend primarily on five key factors:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the market price of ethanol, which we believe will be impacted by the degree of competition in the ethanol market, the price
of gasoline and related petroleum products, and government regulation, including government mandates;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the market price of key production input commodities, including corn and natural gas;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the market price of WDG;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to anticipate trends in the market price of ethanol, WDG, and key input commodities and implement appropriate risk
management and opportunistic strategies; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the proportion of our sales of ethanol produced at the Pacific Ethanol Plants to our sales of ethanol produced by unrelated
third-parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We seek to optimize our gross profit margins
by anticipating the factors above and, when resources are available, implementing hedging transactions and taking other actions
designed to limit risk and address these factors. For example, we may seek to decrease inventory levels in anticipation of declining
ethanol prices and increase inventory levels in anticipation of increasing ethanol prices. We may also seek to alter our proportion
or timing, or both, of purchase and sales commitments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Our limited resources to act upon the anticipated
factors described above and/or our inability to anticipate these factors or their relative importance, and adverse movements in
the factors themselves, could result in declining or even negative gross profit margins over certain periods of time. Our ability
to anticipate these factors or favorable movements in these factors may enable us to generate above-average gross profit margins.
However, given the difficulty associated with successfully forecasting any of these factors, we are unable to estimate our future
gross profit margins.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<!-- Field: Page; Sequence: 29; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Results of Operations</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 16.55pt"><B><I>Accounting for the Results of New
PE Holdco</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 16.55pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our consolidated financial statements include
the financial statements of New PE Holdco, which in turn include the financial statements of the Plant Owners, for all periods
except for the three months ended September 30, 2010. On June 29, 2010, the Plant Owners emerged from bankruptcy, and the ownership
of the Plant Owners was transferred to New PE Holdco. Accordingly, for the three months ended September 30, 2010, we did not consolidate
New PE Holdco&rsquo;s or the Plant Owners&rsquo; financial results as we had no ownership interest in the Plant Owners or New PE
Holdco during the period and we did not have the obligation to absorb losses or a right to receive benefits from New PE Holdco
that could potentially be significant to New PE Holdco. Also, under the Plan, we removed the Plant Owners&rsquo; assets of $175.0
million and liabilities of $294.4 million from our balance sheet, resulting in a net gain of $119.4 million for 2010. On October
6, 2010, we purchased a 20% ownership interest in New PE Holdco, which gave us the single largest equity position in New PE Holdco.
Based on our ownership interest as well as our asset management and marketing agreements with New PE Holdco, we determined that,
beginning on October 6, 2010, we were the primary beneficiary of New PE Holdco, and as such, we resumed consolidating New PE Holdco&rsquo;s
financial results with our financial results beginning in the fourth quarter of 2010. Since then, we have further increased our
ownership interest in New PE Holdco to 34%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Selected Financial Information</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">The following selected financial information
should be read in conjunction with our consolidated financial statements and notes to our consolidated financial statements included
elsewhere in this prospectus, and the other sections of &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition
and Results of Operations&rdquo; contained in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Certain performance metrics that we believe
are important indicators of our results of operations include:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 112.5pt 0pt 9pt"></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>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Years Ended<BR> December 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><B>Percentage</B></TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Variance</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 49%; text-align: left">Production gallons sold (in millions)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: center">150.8</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 13%; text-align: center">69.4</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 13%; text-align: center">117.3%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Third party gallons sold (in millions)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">273.3</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">202.2</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">35.2%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 11pt">&nbsp;Total gallons sold (in millions)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">424.1</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">271.6</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">56.1%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Average sales price per gallon</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.96</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">42.3%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Corn cost per bushel&mdash;CBOT equivalent<SUP>(1)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.76</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.33</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">56.1%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Co-product revenues as % of delivered cost of corn(2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">23.6%</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">21.3%</TD><TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">10.8%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Average CBOT ethanol price per gallon<SUP>(3)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.58</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.82</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">41.8%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Average CBOT corn price per bushel<SUP>(3)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.80</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.30</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">58.1%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 112.5pt 0pt 9pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 112.5pt 0pt 9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.35pt"></TD><TD STYLE="width: 36pt">(1)</TD><TD STYLE="padding-right: 112.3pt">We exclude transportation&mdash;or &ldquo;basis&rdquo;&mdash;costs in our corn costs to calculate
a CBOT equivalent in order to more appropriately compare our corn costs to average CBOT corn prices.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.35pt"></TD><TD STYLE="width: 36pt">(2)</TD><TD STYLE="padding-right: 112.3pt">Co-product revenues as percentage of delivered cost of corn shows our yield based on sales of
WDG generated from ethanol we produced.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.35pt"></TD><TD STYLE="width: 36pt">(3)</TD><TD STYLE="padding-right: 112.3pt">Prices for 2010 exclude the three months ended September 30, 2010, as the activities of the
Pacific Ethanol Plants were not consolidated in our financial results.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 112.3pt 0pt 45.35pt; text-indent: -0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 30; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 112.3pt 0pt 45.35pt; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Year Ended December&nbsp;31, 2011 Compared to the Year
Ended December 31, 2010</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Years Ended</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Dollar <BR>Variance</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percentage <BR>Variance</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Results as a Percentage of Net Sales for the <BR>Years Ended</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Favorable</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">Favorable</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Unfavorable)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(Unfavorable)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2010</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right">(dollars in thousands)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 22%; text-align: left">Net sales</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">901,188</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">328,332</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">572,856</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center; padding-left: 1.45pt">174.5%</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center; padding-left: 1.45pt">100.0%</TD><TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center; padding-left: 1.45pt">100.0%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cost of goods sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">881,789</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">329,143</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(552,646</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">(167.9)%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">97.8%</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">100.2%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Gross profit (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,399</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(811</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,210</TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">2.2%</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(0.2)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Selling, general and administrative expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15,427</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,956</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,471</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">(19.1)%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">(1.7)%</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">(3.9)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Income (loss) from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,972</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,767</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,739</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">128.9%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">0.5%</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(4.1)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Fair value adjustments on convertible notes&nbsp;&nbsp; and warrants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,559</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,736</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,295</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">164.4%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">0.8%</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(3.6)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Loss on investment in Front Range</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,146</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,146</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">100.0%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">&mdash;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(3.7)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Loss on extinguishments of debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,159</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,159</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">100.0%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">&mdash;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(0.7)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,813</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,804</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,009</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(117.7)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(1.6)%</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(2.1)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Other income (expense), net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(741</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">840</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,581</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">(188.2)%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">(0.1)%</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">0.3%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Loss before reorganization costs, gain from bankruptcy exit, provision for income taxes and noncontrolling interest in variable interest entities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,023</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(45,772</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,749</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">91.2%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(0.4)%</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(13.9)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Reorganization costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,153</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,153</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">100.0%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">&mdash;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(1.3)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Gain from bankruptcy exit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">119,408</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(119,408</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(100.0)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">&mdash;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">36.4%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Provision for income taxes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">&mdash;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">&mdash;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Consolidated net income (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,023</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,483</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(73,506</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(105.8)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">(0.4)%</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.45pt">21.2%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt; text-indent: -11pt">Net loss attributed to noncontrolling interest in variable interest entities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,097</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,409</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,688</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">61.0%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">0.7%</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">1.3%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt; text-indent: -11pt">Net income attributed to Pacific Ethanol, Inc.</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,074</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">73,892</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(70,818</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 2.5pt double; padding-left: 1.45pt">(95.8)%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 2.5pt double; padding-left: 1.45pt">0.3%</TD><TD STYLE="padding-bottom: 2.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 2.5pt double; padding-left: 1.45pt">22.5%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Preferred stock dividends</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,265</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,847</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,582</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">55.6%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">(0.1)%</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding-left: 1.45pt">(0.9)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt; text-indent: -11pt">Income available to common stockholders</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,809</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">71,045</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(69,236</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 2.5pt double; padding-left: 1.45pt">(97.5)%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 2.5pt double; padding-left: 1.45pt">0.2%</TD><TD STYLE="padding-bottom: 2.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 2.5pt double; padding-left: 1.45pt">21.6%</TD></TR>
</TABLE>



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">*&#9;Not meaningful.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Net Sales</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">The increase in our net sales for 2011 as
compared to 2010 was primarily due to an increase in total gallons sold and an increase in our average sales price per gallon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Total volume of production gallons sold increased
117%, or 81.4 million gallons, to 150.8 million gallons for 2011 as compared to 69.4 million gallons for 2010. The increase in
production gallons sold is primarily due to our consolidation of the financial results of three Pacific Ethanol Plants during all
of 2011, whereas in 2010, we deconsolidated their results for the three months ended September 30, 2010. Third-party gallons sold
also increased by 35%, or 71.1 million gallons, to 273.3 million gallons for 2011 as compared to 202.2 million gallons for 2010.
The increase in third-party gallons sold is primarily due to increased sales under our third-party ethanol marketing arrangements.
Of the total amount of third-party gallons sold for the three months ended September 30, 2010, 24.1 million gallons were attributable
to the Pacific Ethanol Plants, which partially offset the increase in net sales by $55.6 million for 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Our average sales price per gallon increased
42% to $2.79 for 2011 from $1.96 for 2010. This increase in average sales price per gallon is consistent with the average CBOT
price per gallon, which also increased 42% to $2.58 for 2011 from $1.82 for 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<!-- Field: Page; Sequence: 31; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Cost of Goods Sold and Gross Profit
(Loss)</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our gross profit (loss) improved to $19.4
million for 2011 from a gross loss of $0.8 million for 2010 primarily due to higher sales and improved commodity margins, predominately
related to the spread between ethanol prices and corn and energy costs. Our gross margin increased to 2.2% for 2011 as compared
to negative 0.2% for 2010. Although corn, the single largest component of the production cost of our ethanol, increased by 58%
to $6.80 per bushel, the contribution of a third Pacific Ethanol Plant in operation helped improve our gross profit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, we were able to offset approximately
$1.5 million and $0.5 million for 2011 and 2010, respectively, of our production costs due to elevated corn prices with proceeds
from the CEPIP through the Pacific Ethanol Plants located in California, which were recorded as reductions to cost of goods sold.
For any month in which a payment is made by the CEPIP, we may be required to reimburse the funds within the subsequent five years
from each payment date, if corn crush spreads, measured as the difference between specified ethanol and corn index prices, exceed
$1.00 per gallon. To date, we have not been required to reimburse any amounts, and based on historical corn crush spreads, we do
not believe we will be required to make any reimbursements in the foreseeable future.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Selling, General and Administrative
Expenses</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our SG&amp;A increased by $2.4 million to
$15.4 million for 2011 as compared to $13.0 million for 2010. SG&amp;A, however, decreased as a percentage of net sales due to
higher sales volumes. The dollar increase in SG&amp;A is primarily due to the following factors:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an increase in salaries and benefits of $0.5 million due to increased headcount to support our increased sales volume;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an increase in taxes and permits of $0.4 million due to the restart of the Stockton facility and other matters related to the
Pacific Ethanol Plants;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an increase in amortization of intangibles of $0.4 million due to amortization of the Pacific Ethanol tradename by New PE Holdco;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an increase in rent expense of $0.3 million due to a full year of consolidating the results of New PE Holdco and the Pacific
Ethanol Plants; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an increase in professional fees of $0.3 million due to administrative costs incurred by New PE Holdco.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">These increases were partially offset by
a decrease in noncash compensation expense of $0.2 million primarily due to a decline in the fair value of awards occurring during
the year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Fair Value Adjustments on Convertible Notes
and Warrants</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We issued senior convertible notes and warrants
in 2010 for $35.0 million in cash. The senior convertible notes and warrants were recorded at fair value. We recorded a charge
of $11.7 million related to the original issuance and subsequent fair value adjustments of these instruments for 2010. In 2011,
we recorded gains of $7.6 million related to our quarterly fair value adjustments on these instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<!-- Field: Page; Sequence: 32; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Loss on Investment in Front Range</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">In September 2010, we entered into an agreement
to sell our entire interest in Front Range for $18.5 million in cash. The carrying value of our interest in Front Range prior to
the sale was $30.6 million. As a result, we reduced our investment in Front Range to fair value, resulting in a charge of $12.1
million. We closed the sale of our interest in Front Range in October 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Loss on Extinguishments of Debt</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt"><FONT STYLE="color: black">We were</FONT>
party to agreements designed to satisfy our then outstanding debt to Lyles United LLC and Lyles Mechanical Co., or collectively,
Lyles. Under these agreements, we issued shares to a third party which acquired outstanding debt owed to Lyles in successive tranches.
During 2010, under the terms of these agreements, we issued an aggregate of 3.4 million shares of common stock, resulting in an
aggregate loss of $2.2 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><I>Interest Expense</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Interest expense increased by $8.0 million
to $14.8 million for 2011 from $6.8 million for 2010. The increase is primarily due to increased average debt balances, which includes
our convertible notes and the term and line of credit facilities for New PE Holdco. In addition, the increase is related to early
voluntary conversions by the holders of our convertible notes. Upon conversion, under the terms of the convertible notes, &ldquo;make-whole&rdquo;
interest was paid on the principal amounts converted in an amount that would have accrued had the principal amounts remained outstanding
through maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Other Income (Expense), Net</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Other income (expense) decreased by $1.5
million to an expense of $0.7 million for 2011 from income of $0.8 million for 2010. The decrease in other income (expense) is
primarily due to a gain of $1.6 million associated with our acquisition of a 20% ownership interest in New PE Holdco, as we paid
for our ownership interest at a discount to the fair value of the net assets of New PE Holdco.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Reorganization Costs and Gain from Bankruptcy
Exit</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="background-color: White"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Under the Financial Accounting Standards
Board&rsquo;s Accounting Standards Codification 852, <I>Reorganizations</I>, revenues, expenses, realized gains and losses, and
provisions for losses that can be directly associated with the reorganization and restructuring of our business must be reported
separately as reorganization items in the statements of operations. Professional fees directly related to the reorganization include
fees associated with advisors to the Plant Owners, unsecured creditors, secured creditors and administrative costs in complying
with reporting rules under the Bankruptcy Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">The Plant Owners&rsquo; reorganization costs
consisted of the following (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&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>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 0pt">&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(238,238,238)">
    <TD STYLE="width: 66%; text-align: left; padding-left: 0pt">Professional fees</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">4,026</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-bottom: 1pt; text-indent: -1in; padding-left: 1in">Trustee fees</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">127</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-indent: -1in; padding-left: 24.2pt; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><P STYLE="text-align: right">&ndash;</P></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">4,153</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.5pt">&nbsp;</P>

<!-- Field: Page; Sequence: 33; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.5pt">As of the Effective Date, we no longer
owned the Plant Owners. As a result, we removed the net liabilities from our consolidated financial statements, resulting in a
net gain from bankruptcy exit of $119.4 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 16.5pt"><B><I>Net Loss Attributed to Noncontrolling Interest
in Variable Interest Entities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 16.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Net loss attributed to noncontrolling interest
in variable interest entities relates to the consolidated treatment of New PE Holdco for the three months ended December 31, 2010
and for all of 2011, and represents the noncontrolling interest of others in New PE Holdco&rsquo;s earnings. We consolidated New
PE Holdco&rsquo;s financial results for the applicable periods. However, because we owned less than 100%, we reduced our net income
(loss) for the noncontrolling interest, which represents the remaining ownership interest that we do not own.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Preferred Stock Dividends</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Shares of our Series B Preferred Stock are
entitled to quarterly cumulative dividends payable in arrears in an amount equal to 7% per annum of the purchase price per share
of the Series B Preferred Stock. We accrued dividends of $1.3 million and $2.8 million for 2011 and 2010, respectively, resulting
in total accrued and unpaid dividends of $7.3 million in respect of our Series B Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Our discussion and analysis of our financial
condition and results of operations is based upon our consolidated financial statements, which have been prepared in accordance
with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires
us to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the reported amount of net sales and expenses for each period. The
following represents a summary of our critical accounting policies, defined as those policies that we believe are the most important
to the portrayal of our financial condition and results of operations and that require management&rsquo;s most difficult, subjective
or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Revenue Recognition</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We recognize revenue when it is realized
or realizable and earned. We consider revenue realized or realizable and earned when there is persuasive evidence of an arrangement,
delivery has occurred, the sales price is fixed or determinable, and collection is reasonably assured. We derive revenue primarily
from sales of ethanol and related co-products. We recognize revenue when title transfers to our customers, which is generally upon
the delivery of these products to a customer&rsquo;s designated location. These deliveries are made in accordance with sales commitments
and related sales orders entered into with customers either verbally or in written form. The sales commitments and related sales
orders provide quantities, pricing and conditions of sales. In this regard, we engage in three basic types of revenue generating
transactions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>As a producer</I>. Sales as a producer consist of sales of our inventory produced at the Pacific Ethanol Plants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>As a merchant</I>. Sales as a merchant consist of sales to customers through purchases from third-party suppliers in which
we may or may not obtain physical control of the ethanol or co-products in which shipments are directed from our suppliers to our
terminals or direct to our customers but for which we accept the risk of loss in the transactions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>As an agent</I>. Sales as an agent consist of sales to customers through purchases from third-party suppliers in which the
risks and rewards of inventory ownership remain with third-party suppliers and we receive a predetermined service fee under these
transactions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<!-- Field: Page; Sequence: 34; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Revenue from sales of third-party ethanol
and its co-products is recorded net of costs when we are acting as an agent between a customer and a supplier and gross when we
are a principal to the transaction. Several factors are considered to determine whether we are acting as an agent or principal,
most notably whether we are the primary obligor to the customer, whether we have inventory risk and related risk of loss or whether
we add meaningful value to the supplier&rsquo;s product or service. Consideration is also given to whether we have latitude in
establishing the sales price or have credit risk, or both. When we act as an agent, we record revenues on a net basis, or our predetermined
fees and any associated freight, based upon the amount of net revenues retained in excess of amounts paid to suppliers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt"><FONT STYLE="background-color: White">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We record revenues based upon the gross amounts
billed to our customers in transactions where we act as a producer or a merchant and obtain title to ethanol and its co-products
and therefore own the product and any related unmitigated inventory risk for the ethanol, regardless of whether we actually obtain
physical control of the product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Consolidation of Variable Interest Entities</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Effective January 1, 2010, we adopted amended
guidance surrounding a company&rsquo;s analysis to determine whether any of its variable interests constitute controlling financial
interests in a variable interest entity. This analysis identifies the primary beneficiary of a variable interest entity as the
enterprise that has both of the following characteristics: (i) the power to direct the activities of a variable interest entity
that most significantly impact the entity&rsquo;s economic performance, and (ii) the obligation to absorb losses of the entity
that could potentially be significant to the variable interest entity or the right to receive benefits from the entity that could
potentially be significant to the variable interest entity. Additionally, an enterprise is required to assess whether it has an
implicit financial responsibility to ensure that a variable interest entity operates as designed when determining whether it has
the power to direct the activities of the variable interest entity that most significantly impact the entity&rsquo;s economic performance.
The amended guidance also requires ongoing reassessments of whether an enterprise is the primary beneficiary of a variable interest
entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Since January 1, 2010, we have identified
Front Range and New PE Holdco as variable interest entities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to January 1, 2010, under the original
guidance, we determined that we must consolidate Front Range, which owns a plant located in Windsor, Colorado, with an annual production
capacity of up to 50 million gallons. Under the amended guidance, we determined effective January 1, 2010, that we were no longer
the primary beneficiary of Front Range and, as a result, no longer consolidated Front Range&rsquo;s results and recorded our investment
in Front Range under the equity method of accounting. On October 6, 2010, we sold our entire 42% ownership interest in Front Range.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On the Effective Date, we determined that
New PE Holdco was a variable interest entity, however, we did not believe we were its primary beneficiary. On October 6, 2010,
upon our initial purchase of a 20% interest in New PE Holdco, we determined that we were New PE Holdco&rsquo;s primary beneficiary
and began consolidating the results of New PE Holdco. As long as we believe we are deemed the primary beneficiary of New PE Holdco,
we will treat New PE Holdco as a consolidated subsidiary for financial reporting purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">These determinations will be reassessed
for appropriateness at each future reporting period.</P>

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

<!-- Field: Page; Sequence: 35; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Warrants Carried at Fair Value</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have recorded our 2010 and 2011 warrants
at fair value. We believe the valuation of the 2010 and 2011 warrants is a critical accounting estimate because valuation estimates
obtained from third parties involve inputs other than quoted prices to value the conversion feature. Changes in such estimates,
and in particular certain of the inputs to the valuation, can be volatile from period to period and may markedly impact the total
mark-to-market on the 2010 and 2011 warrants recorded as fair value adjustments in our consolidated statements of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We recorded fair value adjustments on convertible
notes and warrants as a gain of $7.6 million and a charge of $11.7 million for the years ended December 31, 2011 and 2010, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Impairment of Long-Lived and Intangible Assets</I>
</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">Our long-lived assets have been primarily
associated with the Pacific Ethanol Plants, reflecting the original cost of construction, adjusted for any subsequent impairment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We assess the impairment of long-lived assets,
including property and equipment and purchased intangibles subject to amortization, when events or changes in circumstances indicate
that the fair value of each asset could be less than the net book value of the asset. We assess long-lived assets for impairment
by first determining the forecasted, undiscounted cash flows each asset is expected to generate plus the net proceeds expected
from the sale of the asset. If the amount of proceeds is less than the carrying value of the asset, we then determine the fair
value of the asset. An impairment loss would be recognized when the fair value is less than the related net book value, and an
impairment expense would be recorded in the amount of the difference. Forecasts of future cash flows are judgments based on our
experience and knowledge of our operations and the industries in which we operate. These forecasts could be significantly affected
by future changes in market conditions, the economic environment, including inflation, and the purchasing decisions of our customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We review our intangible assets with indefinite
lives at least annually or more frequently if impairment indicators arise. In our review, we determine the fair value of these
assets using market multiples and discounted cash flow modeling and compare it to the net book value of the acquired assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We did not recognize any asset impairment
charges associated with the Pacific Ethanol Plants in 2011 or 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Allowance for Doubtful Accounts </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We sell ethanol primarily to gasoline refining
and distribution companies and sell WDG to dairy operators and animal feed distributors. We had significant concentrations of credit
risk from sales of our ethanol as of December 31, 2011 and 2010, as described in Note 1 to our consolidated financial statements
included elsewhere in this prospectus. However, those ethanol customers historically have had good credit ratings and historically
we have collected amounts that were billed to those customers. Receivables from customers are generally unsecured. We continuously
monitor our customer account balances and actively pursue collections on past due balances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<!-- Field: Page; Sequence: 36; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We maintain an allowance for doubtful accounts
for balances that appear to have specific collection issues. Our collection process is based on the age of the invoice and requires
attempted contacts with the customer at specified intervals. If after a specified number of days, we have been unsuccessful in
our collection efforts, we consider recording a bad debt allowance for the balance in question. We would eventually write-off accounts
included in our allowance when we have determined that collection is not likely. The factors considered in reaching this determination
are&nbsp;the apparent financial condition of the customer, and our success in contacting and negotiating with the customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We recognized a recovery of bad debt expense
of $0.2 million for each of the years ended December 31, 2011 and 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Impact of New Accounting Pronouncements</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">On May 12, 2011, the Financial Accounting
Standards Board issued Accounting Standards Update, or ASU, No. 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve
Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS. ASU No. 2011-04 was issued concurrently with International
Financial Reporting Standards, or IFRS, 13 Fair Value Measurements, to provide largely identical guidance about fair value measurement
and disclosure requirements. The new standards do not extend the use of fair value but, rather, provide guidance about how fair
value should be applied where it already is required or permitted under IFRS or United States generally acceptable accounting principles.
This standard is effective prospectively for interim and annual periods beginning after December 15, 2011. We do not expect the
adoption of this standard to have a material effect on our consolidated financial position, results of operations or cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">During the nine months ended September 30,
2012, we funded our operations primarily from cash provided by operations, equity financings and borrowings under our credit facilities.
As of September 30, 2012, we had working capital of $6.8 million and cash and cash equivalents of $18.7 million. As of December
31, 2011, we had working capital of $50.5 million and cash and cash equivalents of $8.9 million. Our current available capital
resources consist of cash on hand, amounts available for borrowing under Kinergy&rsquo;s credit facility and amounts available
for borrowing under the Plant Owners&rsquo; credit facility for the operations of the Pacific Ethanol Plants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In July 2012, we raised $12.0 million in
gross proceeds from the sale of common stock and warrants. Shortly thereafter, we purchased an additional 33% ownership interest
in New PE Holdco for $20.0 million, paying $10.0 million in cash and issuing $10.0 million in senior unsecured promissory notes,
or July Notes, due April 13, 2013. In September 2012, we raised $11.0 million in gross proceeds from the sale of common stock and
warrants and used the proceeds to repay in full the July Notes in October 2012. In July 2012, the Plant Owners extended to June
30, 2016 the maturity date in respect of $46.8 million of the total $86.3 million of the Plant Owners&rsquo; term and revolving
debt and increased its revolving debt by $5.0 million. In October 2012, the Plant Owners secured a new revolving credit facility
of up to $10.0 million.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In January 2013, we raised $22.2 million
in gross proceeds from the sale of Notes and Warrants. Using $21.5 million of the gross proceeds from this transaction, we purchased
$21.5 million of the Plant Owners&rsquo; term debt on January 11, 2013. On January 11, 2013, we also purchased an additional 13%
ownership interest in New PE Holdco, using $653,895 of the gross proceeds of this transaction and $654,135 in cash. Effective as
of January 11, 2013, and the Plant Owners&rsquo; credit facilities were amended to extend the maturity date applicable to $21.5
million of Term A-2 debt from June 25, 2013 to June 30, 2016. Also, effective as of January 11, 2013, the Plant Owners&rsquo; new
$10.0 million revolving credit facility was amended to extend the maturity date of the new facility from June 25, 2013 to June
25, 2016.</P>

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

<!-- Field: Page; Sequence: 37; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have had  communications with
holders of the $6.7 million in debt due June 25, 2013 to restructure the existing loans.<B> </B>We also continue to explore our
capital raising alternatives. We believe that we will be able to successfully restructure the loans or raise additional capital,
or both, prior to the June 25, 2013 maturity date. However, we can provide no assurances that we will be able to do so, or what
the terms of any restructuring or capital raising transaction might be. If we are unable to timely restructure the $6.7 million
in debt due June 25, 2013 or raise sufficient capital to repay the debt, we will be in default on that debt and in cross-default
on the $88.1 million in debt extended to June 30, 2016, all of which, totaling $94.8 million plus up to an additional $10.0 million
under the new credit facility, may be accelerated and become immediately due and payable on June 25, 2013. As a result, we and
our direct and indirect subsidiaries, including Kinergy and the Plant Owners, will likely experience material adverse effects.
See &ldquo;Risk Factors.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On June 6, 2012, we received a letter from
NASDAQ indicating that the bid price of our common stock for the last 30 consecutive business days had closed below the minimum
$1.00 per share required for continued listing. We were provided an initial period of 180 calendar days, or until December 3, 2012,
in which to regain compliance. On December 5, 2012, we received a letter from NASDAQ granting us a 180-day extension period, or
until June 3, 2013, in which to regain compliance by meeting the minimum closing bid price of $1.00 per share for ten consecutive
business days. If we do not regain compliance by June 3, 2013, the NASDAQ staff will provide written notice that our common stock
is subject to delisting. Given the increased market volatility arising in part from economic turmoil resulting from the ongoing
credit crisis, the challenging environment in the biofuels industry and our lack of liquidity, we may be unable to regain compliance
with the closing bid price requirement by June 3, 2013. A delisting of our common stock is likely to reduce the liquidity of our
common stock and may inhibit or preclude our ability to raise additional financing and may also materially and adversely impact
our credit terms with our vendors. See &ldquo;Risk Factors.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our ability to maintain adequate liquidity
depends, in part, upon factors within the ethanol industry beyond our control. These factors, which include, but are not limited
to, the prices of corn, ethanol, natural gas and WDG, as well as regulatory changes and economic and financial conditions in our
industry and the global economy, may affect our ability to generate cash flows from operations and to satisfy our obligations as
they become due.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Despite our liquidity risks, we believe
that current and future available capital resources, revenues generated from operations, and other existing sources of liquidity,
including our credit facilities, will be adequate to meet our anticipated capital requirements for the next twelve months. If,
however, our capital requirements or cash flows vary materially from our current projections, or if other unforeseen circumstances
occur, such as a lack of significant improvement or deterioration of corn crush margins, we may require additional financing during
that period. Our failure to raise capital, if needed, could restrict our growth, hinder our ability to compete and adversely impact
our operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>September 30, 2012 as Compared to
December 31, 2011</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Quantitative Quarter-End Liquidity Status</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">We believe that the following amounts provide
insight into our liquidity and capital resources. The following selected financial information should be read in conjunction with
our consolidated financial statements and notes to consolidated financial statements included elsewhere in this prospectus, and
the other sections of &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;
contained in this prospectus (dollars in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 38.5pt"><FONT STYLE="background-color: White">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 38; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 38.5pt"><FONT STYLE="background-color: White">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30, 2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 49%; text-align: left; padding-left: 0pt">Cash and cash equivalents</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">18,671</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">8,914</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">109.5%</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: 0pt">Current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">68,965</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">66,748</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.3%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 0pt">Total assets of variable interest entity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">163,218</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">173,606</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6.0</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">Current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">62,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">16,297</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">NM</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 0pt">Property and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">153,109</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">159,617</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4.1</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">Notes payable, current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">50,105</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">NM</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 0pt">Notes payable, noncurrent portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">68,990</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">93,689</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26.4</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">Total liabilities of variable interest entity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">97,444</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">76,478</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27.4%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 0pt">Working capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,816</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">50,451</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(86.5</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">Working capital ratio</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.11</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.10</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(72.9</TD><TD STYLE="text-align: left">)%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Change in Working Capital and Cash Flows</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Working capital decreased to $6.8 million
at September 30, 2012 from $50.5 million at December&nbsp;31, 2011 as a result of an increase in current liabilities of $45.9 million,
partially offset by an increase in current assets of $2.2 million. Current liabilities increased primarily due to an increase in
the current portion of our long-term debt due to the reclassification of $39.4 million of the outstanding balance, as its maturity
date is June 2013. In addition, we recorded $10.0 million in short-term notes payable related to our acquisition of an additional
33% ownership interest in New PE Holdco. On October 1, 2012, we repaid in full the $10.0 million in short-term notes with the proceeds
from our public offering of common stock and warrants in September 2012.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Current assets increased primarily due to
higher cash and cash equivalents of $18.7 million, which includes approximately $10.0 million in net proceeds from our public offering
of common stock and warrants in September 2012.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Cash used in operating activities of $11.4
million resulted primarily from a consolidated net loss of $33.7 million and fair value adjustments of $0.4 million, partially
offset by depreciation and amortization of $9.2 million, an increase in accounts payable and accrued expenses of $5.5 million,
a decrease in prepaid inventory of $3.1 million, prepaid expenses and other assets of $1.5 million, inventories of $1.5 million,
accounts receivable of $0.6 million and noncash compensation of $0.7 million.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Cash used in investing activities of $12.1
million resulted from our purchase of an additional 33% ownership interest in New PE Holdco for $20.0 million, $10.0 million of
which was paid in cash, and additions to property and equipment of $2.1 million.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Cash provided by financing activities of
$33.3 million resulted from the net proceeds of our two public offerings of common stock and warrants in the aggregate amount of
$21.0 million, borrowings of $13.2 million and cash payments of dividends in respect of our Series B Preferred Stock of $0.9 million.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>December 31, 2011 as Compared to
December 31, 2010</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><I>Quantitative Year-End Liquidity Status</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">We believe that the following amounts provide
insight into our liquidity and capital resources. The following selected financial information should be read in conjunction with
our consolidated financial statements and notes to consolidated financial statements included elsewhere in this prospectus, and
the other sections of &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;
contained in this prospectus (dollars in thousands):</P>

<!-- Field: Page; Sequence: 39; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of and for the<BR> Year Ended December 31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Variance</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 49%; text-align: left; text-indent: -11pt; padding-left: 11pt">Cash and cash equivalents</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">8,914</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">8,736</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">2.0%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">66,748</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">57,324</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.4%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Total assets of variable interest entity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">173,606</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">183,652</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5.5)%</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,982</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">47,831</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(81.2)%</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Property and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">159,617</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">168,976</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5.5)%</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Notes payable, current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">38,108</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(98.0)%</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Notes payable, noncurrent portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">93,689</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">84,981</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.2%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total liabilities of variable interest entity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">76,478</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">74,939</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.1%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Working capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">57,766</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,493</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">508.5%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Working capital ratio</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.43</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.20</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">519.2%</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Change in Working Capital and Cash Flows</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Working capital increased from $9.5 million
at December 31, 2010 to $57.8 million at December&nbsp;31, 2011 as a result of a significant decrease in current liabilities of
$38.8 million and an increase in current assets of $9.4 million.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Current liabilities decreased primarily
due to the retirement of our convertible notes in the principal amount of $35.0 million. Current assets increased primarily due
to an increase in accounts receivable and prepaid inventory, due to the timing of sales at the end of 2011 as compared to 2010.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Cash used in our operating activities of
$4.0 million resulted primarily from our consolidated net loss of $4.0 million, a $7.6 million gain from fair value adjustments,
a $6.5 million increase in prepaid inventory, a $2.4 million decrease in accounts payable and accrued expenses and a $2.1 million
increase in accounts receivable, partially offset by $12.6 million in depreciation and amortization expense, $3.1 million in interest
paid in stock, $2.3 million in non-cash compensation and a $1.1 million decrease in inventories.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Cash used in our investing activities of
$11.5 million resulted primarily from the $9.1 million purchase of additional ownership interests in New PE Holdco and $2.4 million
in additions to property and equipment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Cash provided by our financing activities
of $15.6 million resulted primarily from $10.0 million in net proceeds from our operating lines of credit, $7.4 million in net
proceeds from the issuance and sale of our common stock and warrants, partially offset by $1.2 million in principal payments in
cash on our convertible notes and $0.5 million in principal payments on related party borrowings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Kinergy Operating Line of Credit</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In May 2012, we extended Kinergy&rsquo;s
operating line of credit. The renewal of Kinergy&rsquo;s credit facility is for an aggregate amount of up to $30.0 million, with
an optional accordion feature for up to an additional $10.0 million. The prior credit facility included an accordion feature of
$5.0 million. The credit facility expires on December 31, 2015. Interest accrues under the credit facility at a rate equal to (i)&nbsp;the
three-month London Interbank Offered Rate, or LIBOR, plus (ii) a specified applicable margin ranging between 2.50% and 3.50%. The
credit facility&rsquo;s monthly unused line fee is 0.50% of the amount by which the maximum credit under the facility exceeds the
average daily principal balance. Kinergy is also required to pay customary fees and expenses associated with the credit facility
and issuances of letters of credit. In addition, Kinergy is responsible for a $3,000 monthly servicing fee. Payments that may be
made by Kinergy to Pacific Ethanol as reimbursement for management and other services provided by Pacific Ethanol to Kinergy are
limited to $800,000 per fiscal quarter in 2012, $900,000 per fiscal quarter in 2013, $1,000,000 per fiscal quarter in 2014 and
$1,100,000 per fiscal quarter in 2015.</P>

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

<!-- Field: Page; Sequence: 40; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, the amended facility includes
the accounts receivable of PAP as additional collateral. Payments that may be made by PAP to Pacific Ethanol as reimbursement for
management and other services provided by Pacific Ethanol to PAP are limited to the extent that quarterly payments would result
in PAP recording less than $100,000 of net income in the quarter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For the fiscal quarter ending June 30, 2012
and each fiscal quarter thereafter, Kinergy and PAP are collectively required to generate aggregate earnings before interest, taxes,
depreciation and amortization, or EBITDA, of $450,000 for the quarter and aggregate EBITDA of $1,100,000 for each two consecutive
quarters. These amounts are required through December 31, 2013. In 2014, the required EBITDA amounts increase to $500,000 per quarter
and $1,300,000 for each two consecutive quarters. Further, for all monthly periods, Kinergy and PAP must collectively maintain
a fixed charge coverage ratio (calculated as a twelve-month rolling EBITDA divided by the sum of interest expense, capital expenditures,
principal payments of indebtedness, indebtedness from capital leases and taxes paid during such twelve-month rolling period) of
at least 2.0 and are prohibited from incurring any additional indebtedness (other than specific intercompany indebtedness) or making
any capital expenditures in excess of $100,000 absent the lender&rsquo;s prior consent. Kinergy and PAP&rsquo;s obligations under
the credit facility are secured by a first-priority security interest in all of their assets in favor of the lender.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table summarizes Kinergy&rsquo;s
financial covenants and actual results for the periods presented (dollars in thousands):</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Periods Ended <BR>September 30,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Years Ended <BR>December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 30%">EBITDA Requirement &ndash; Three Months</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">450</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">350</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">N/A</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">250</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Actual</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,117</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,590</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">N/A</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">555</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD>Excess</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,240</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">N/A</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">305</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">EBITDA Requirement &ndash; Six Months</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">800</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">900</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Actual</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,047</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">858</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,387</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD>Excess</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,947</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,320</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">58</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,487</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&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(238,238,238)">
    <TD STYLE="text-align: left">Fixed Coverage Ratio Requirement</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Actual</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.63</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.39</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.26</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.13</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD>Excess</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.63</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.39</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.26</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.03</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pacific Ethanol has guaranteed all of Kinergy&rsquo;s
obligations under the credit facility. As of September 30, 2012, Kinergy had amounts available for borrowing under the credit facility
of $4.2 million and an outstanding balance of $17.2 million.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Plant Owners&rsquo; Credit Facilities</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Amended and Restated Credit Facility</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 29, 2012, the Plant Owners amended
and restated their existing credit facilities with their lenders to provide for a revolving credit facility of up to $40.0 million,
a term loan of $25.0 million, or Tranche A-1 Loan, and a term loan of $26.3 million, or Tranche A-2 Loan. On January 11, 2013,
we purchased $21.5 million of the Tranche A-2 Loan from the existing lenders under the credit facilities and, at the same time,
the credit facilities were amended to extend the maturity date applicable to $21.5 million of the Tranche A-2 Loan from June 25,
2013 to June 30, 2016. Under these credit facilities, $6.7 million of the combined revolving loans and term loans has a maturity
date of June 25, 2013 and $88.1 million of the combined revolving loans and term loans has a maturity date of June 30, 2016.</P>

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

<!-- Field: Page; Sequence: 41; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Plant Owners may elect to receive Eurodollar
loans and/or base rate loans. The per annum interest rate on Eurodollar loans is equal to (a) the rate obtained by dividing (i)
the one-month LIBOR for the relevant interest period (but in no event less than 4%) by (ii) a percentage equal to (1) 100% minus
(2) the Eurodollar Reserve Percentage (as determined by the Board of Governors of the Federal Reserve System) for the relevant
period, plus (b) the applicable margin of 10%. The per annum interest rate on base rate loans is equal to (A) the higher of (x)
the Federal Funds Effective Rate (equal to the weighted average of the rates on overnight federal funds transactions with members
of the Federal Reserve System) plus 0.50%, (y) the rate of interest as publicly announced by Wells Fargo Bank as its &ldquo;prime
rate&rdquo; or (z) the one-month LIBOR plus 1.0%, plus the applicable margin of 10%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Interest under the loans is payable monthly
in cash, but as long as no default or event of default has occurred or is continuing, interest payments due to certain lenders
for any period prior to June 25, 2013, may, at the option of the Plant Owners, be deferred and added to the principal balance of
the Tranche A-1 Loan due June 30, 2016. The Plant Owners are also required to pay an unused line fee of 2.0% per annum and other
customary fees and expenses associated with the credit facility.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Plant Owners&rsquo; obligations are
secured by a security interest in their assets and equity interests in favor of the lenders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The amended and restated credit facility
contains numerous customary representations, warranties, affirmative and negative covenants and other customary terms and conditions,
including events of default (including upon the occurrence of an event of default with respect to any indebtedness owed by Pacific
Ethanol) and remedies in favor of the lenders. The facility also contains restrictions on the creation or incurrence of additional
indebtedness (other than pursuant to the new credit facility described below) and on distributions of funds from the Plant Owners
to any affiliates of the Plant Owners, including Pacific Ethanol.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The amended and restated credit facility
also contains financial covenants concerning certain of the Plant Owners&rsquo; budgeted expenses. Specifically, the Plant Owners
shall not permit amounts disbursed pursuant to the categories in the budget related to the asset management agreement among the
Plant Owners and Pacific Ethanol and operating disbursements to exceed their respective budgeted amounts by more than 10%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Plant Owners have the right at any time,
and from time to time, but subject to limitations imposed by an intercreditor agreement (described below), to prepay in whole or
in part the revolving loans and Tranche A-1 Loans (and the Tranche A-2 Loans following the payment in full of the revolving loans
and Tranche A-1 Loans). However, in the event of any prepayment of the Tranche A-1 Loans that have a maturity date of June 30,
2016, the Plant Owners must pay a premium equal to the present value of all interest payments which would have accrued from the
date of such payment through June 30, 2016, calculated using a discount rate, applied quarterly, equal to the Treasury Rate as
of such prepayment date plus 50 basis points. The amended and restated credit facility also provides for mandatory prepayments
in connection with certain customary events, including any sale of material assets; however, certain mandatory prepayments are
not subject to the prepayment premium.</P>

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

<!-- Field: Page; Sequence: 42; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 29, 2012, the Plant Owners also
secured a new revolving credit facility of up to $10.0 million with the ability to request incremental increases of up to a maximum
aggregate amount of $5.0 million. On January 11, 2013, the new credit facility was amended to extend its maturity date from June&nbsp;25,
2013 to June 25, 2015.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Plant Owners may elect to receive Eurodollar
loans and/or base rate loans under the new credit facility. The per annum interest rate on the loans is the same as under the amended
and restated credit facility described above; however, the applicable margin under the new credit facility is 5.5% per annum instead
of 10%; provided that for any loans for which interest is paid as capitalized interest, the applicable margin is 8.0% per annum
for the period for which interest is so paid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The timing of interest payments, the Plant
Owners&rsquo; ability to capitalize interest, the unused line fees and other customary fees and expenses associated with the new
credit facility are the same as for the amended and restated credit facility described above. The Plant Owners&rsquo; obligations
under the new credit facility are secured by a security interest in their assets and equity interests in favor of the lenders.
The new credit facility contains representations and warranties, events of default and financial covenants identical to those contained
in the amended and restated credit facility. The Plant Owners have the right at any time, and from time to time, but subject to
limitations imposed by an intercreditor agreement, to prepay the revolving loans under the new credit facility. The credit facility
requires mandatory prepayments in connection with certain customary events, including any sale of material assets.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with entering into the amended
and restated credit facility and the new credit facility, the Plant Owners entered into an Intercreditor Agreement with Wells Fargo
Bank, as collateral agent. The Intercreditor Agreement generally provides, among other things, that the amounts owed by the Plant
Owners under the new credit facility shall be senior in right and payment to the payment of amounts owed by the Plant Owners under
the amended and restated credit facility.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Note Payable to Related Party</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 31, 2009, our Chief Executive
Officer provided funds in an aggregate amount of $1.0 million for general working capital purposes, in exchange for an unsecured
promissory note issued by us. Interest on the unpaid principal amount accrues at a rate of 8.00% per annum. As of December 31,
2012, the remaining principal amount of $750,000 was due and payable on the extended maturity date of March 31, 2013. On February
7, 2013, the maturity date was further extended to March 31, 2014.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt">The impact of inflation was not significant
to our financial condition or results of operations for the three and nine months ended September 30, 2012 and 2011 and the years
ended December 31, 2010 and 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33pt"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<!-- Field: Page; Sequence: 43; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Background</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are the leading marketer and producer
of low-carbon renewable fuels in the Western United States.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We market all the ethanol produced by the
Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased
from other third-party suppliers throughout the United States . We also market ethanol co-products, including WDG, for the Pacific
Ethanol Plants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have extensive customer relationships
throughout the Western United States. Our ethanol customers are integrated oil companies and gasoline marketers who blend ethanol
into gasoline. We arrange for transportation, storage and delivery of ethanol purchased by our customers through our agreements
with third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado,
Idaho and Washington. Our WDG customers are dairies and feedlots located near the Pacific Ethanol Plants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have extensive supplier relationships
throughout the Western and Midwestern United States. In some cases, we have marketing agreements with suppliers to market all of
the output of their facilities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We hold an 80% ownership interest in New
PE Holdco LLC, or New PE Holdco, the owner of each of the plant holding companies, or the Plant Owners, that collectively own the
Pacific Ethanol Plants. We operate and maintain the Pacific Ethanol Plants under the terms of an asset management agreement with
New PE Holdco and the Plant Owners, including supplying all goods and materials necessary to operate and maintain each Pacific
Ethanol Plant. In operating the Pacific Ethanol Plants, we direct the production process to obtain optimal production yields, lower
costs by leveraging our infrastructure, enter into risk management agreements such as insurance policies and manage commodity risk
practices. We are also in complete charge of, and have care and custody over, each Pacific Ethanol Plant that is not operational,
and provide recommendations as to when a Pacific Ethanol Plant should become operational. We perform all activities necessary to
support a cost effective return of any idled Pacific Ethanol Plant to operational status once New PE Holdco approves our recommendation
to re-start an idled Pacific Ethanol Plant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We market ethanol and WDG produced by the
Pacific Ethanol Plants under the terms of separate marketing agreements with the Plant Owners whose facilities are operational.
The marketing agreements provide us with the absolute discretion to solicit, negotiate, administer (including payment collection),
enforce and execute ethanol and co-product sales agreements with any third party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Pacific Ethanol Plants are comprised
of the four facilities described immediately below, three of which are currently operational. As future market conditions change,
we may increase, decrease or idle production at those facilities which are operational or resume operations of any facility which
is not operational.</P>

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

<!-- Field: Page; Sequence: 44; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; padding-right: 0.05in; padding-left: 0.05in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid"><B>Facility Name</B></P></TD>
    <TD STYLE="width: 21%; padding-right: 0.05in; padding-left: 0.05in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Facility
        Location</B></P></TD>
    <TD STYLE="width: 27%; padding-right: 0.05in; padding-left: 0.05in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Estimated
        Annual Capacity</B><BR>
        <B>(gallons)</B></P></TD>
    <TD STYLE="width: 18%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Current
        Operating Status</B></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt">Magic Valley</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">Burley, ID</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">60,000,000</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Operating</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt">Columbia</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">Boardman, OR</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">40,000,000</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Operating</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt">Stockton</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">Stockton, CA</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">60,000,000</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Operating</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.75pt; text-indent: -5.75pt">Madera</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">Madera, CA</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center">40,000,000</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">Idled</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We earn fees as follows under our asset
management and other agreements with New PE Holdco and the Plant Owners:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify">ethanol marketing fees of approximately 1% of the net sales price but not less than $0.015 per
gallon and not more than $0.0225 per gallon;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify">corn procurement and handling fees of $0.045 per bushel;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify">WDG fees of 5% of the third party purchase price, but not less than $2.00 per ton and not more
than $3.50 per ton; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">-</FONT></TD><TD STYLE="text-align: justify">asset management fees of $75,000 per month for each operating facility and $40,000 per month for
each idled facility.</TD></TR></TABLE>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We also provide operations, maintenance
and accounting services for a 250,000 gallon per year cellulosic integrated biorefinery owned by ZeaChem Inc. in Boardman, Oregon,
which is adjacent to the Pacific Ethanol Columbia plant.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.1pt">We are a Delaware corporation formed in
February 2005. Our main Internet address is http://www.pacificethanol.net. Our annual reports on Form 10-K, quarterly reports on
Form 10-Q, current reports on Form 8-K, amendments to those reports and other Securities and Exchange Commission, or SEC, filings
are available free of charge through our website as soon as reasonably practicable after the reports are electronically filed with,
or furnished to, the Securities and Exchange Commission. Our common stock trades on The NASDAQ Capital Market under the symbol
&ldquo;PEIX.&rdquo; The inclusion of our Internet address in this prospectus does not include or incorporate by reference into
this prospectus any information contained on our website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In 2006, we began constructing the first
of the four Pacific Ethanol Plants and were continuously engaged in plant construction until the fourth facility was completed
in 2008. In late 2008 and early 2009, we idled production at three of the Pacific Ethanol Plants due to adverse market conditions
and lack of adequate working capital. On May 17, 2009, each of the Plant Owners filed voluntary petitions for relief under chapter
11 of Title 11 of the United States Bankruptcy Code, or Bankruptcy Code, in the United States Bankruptcy Court for the District
of Delaware, or Bankruptcy Court, in an effort to restructure their indebtedness. On April 16, 2010, the Plant Owners filed a joint
plan of reorganization, or Plan, with the Bankruptcy Court, which was structured in cooperation with a number of the Plant Owners&rsquo;
secured lenders. The Bankruptcy Court confirmed the Plan at a hearing on June 8, 2010. On June 29, 2010, or Effective Date, the
Plant Owners emerged from bankruptcy under the terms of the Plan. Under the Plan, on the Effective Date, all of the ownership interests
in the Plant Owners were transferred to New PE Holdco, which was wholly-owned as of that date by some of the prepetition lenders
to the Plant Owners and new lenders to the Plant Owners. As a result, the Pacific Ethanol Plants became wholly-owned by New PE
Holdco as of the Effective Date.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.1pt">Our primary goal is to maintain and advance
our position as the leading marketer and producer of low-carbon renewable fuels in the Western United States. We view the key elements
of our business and growth strategy to achieve this objective in short- and long-term perspectives, which include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.1pt">&nbsp;</P>

<!-- Field: Page; Sequence: 45; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Short-Term Strategy</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Expand</I> <I>ethanol</I> <I>production and marketing</I> <I>revenues,</I> <I>ethanol</I> <I>markets</I> <I>and</I> <I>distribution</I>
<I>infrastructure</I>. We plan to increase our ethanol production and marketing revenues by expanding our relationships with third-party
ethanol producers and our ethanol customers to increase sales volumes of ethanol throughout the Western United States at profitable
margins. In addition, we plan to maintain and increase sales to animal feed customers in the local markets we serve for WDG. We
also plan to expand the market for ethanol by continuing to work with the federal government and state governments to encourage
the adoption of policies and standards that promote ethanol as a component in transportation fuels. In addition, we plan to expand
our distribution infrastructure by increasing our ability to provide transportation, storage and related logistical services to
our customers throughout the Western United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Operation of Pacific Ethanol Plants and Third-Party Plants. </I>We operate the Pacific Ethanol Plants under an asset management
agreement with New PE Holdco and the Plant Owners. If the Madera, California facility becomes operational, we intend to expand
our business by providing management and operational services to that facility. We also intend to expand our business by providing
management services to other third party facilities. For example, in October 2011, we entered into a management agreement with
ZeaChem Inc. to provide operations, maintenance and accounting services for its 250,000 gallon per year cellulosic integrated biorefinery
in Boardman, Oregon.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Focus</I> <I>on</I> <I>cost</I> <I>efficiencies</I>. We operate the Pacific Ethanol Plants in markets where we believe local
characteristics create an opportunity to capture a significant production and shipping cost advantage over competing ethanol production
facilities. We believe a combination of factors will enable us to achieve this cost advantage, including:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 64.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>Locations near fuel blending facilities will enable lower ethanol transportation costs and allow timing and logistical advantages
over competing locations which require ethanol to be shipped over much longer distances.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 82.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 64.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>Locations adjacent to major rail lines will enable the efficient delivery of corn in large unit trains from major corn-producing
regions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 82.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 64.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>Locations near large concentrations of dairy and/or beef cattle will enable delivery of WDG over short distances without the
need for costly drying processes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 82.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to these
location-related efficiencies, we believe that we can continue to increase operating efficiencies by incorporating advanced design
elements into the production facilities to take advantage of state-of-the-art technical and operational efficiencies.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Long-Term Strategy</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Continue to increase our ownership interest in New PE Holdco.</I> We intend to continue to increase our ownership interest
in New PE Holdco as opportunities arise to purchase additional interests from other members and as financial resources and business
prospects make the acquisition of additional ownership interests in New PE Holdco advisable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<!-- Field: Page; Sequence: 46; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Explore</I> <I>new</I> <I>technologies and renewable</I> <I>fuels</I>. We are evaluating a number of technologies that may
increase the efficiency of our ethanol production facilities and reduce our use of carbon-based fuels. For example, we have installed
a reactor system at the Columbia facility from Pursuit Dynamics PLC and we are continuing trials for the purpose of verifying the
stated benefits. In addition, we are exploring the feasibility of using different and potentially abundant and cost-effective feedstocks,
including cellulosic feed stock, to supplement corn as the raw material used in the production of ethanol. As capital resources
become available, we intend to continue pursuing these opportunities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 55pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Evaluate</I> <I>and</I> <I>pursue</I> <I>acquisition</I> <I>opportunities</I>. We intend to evaluate and pursue opportunities
to acquire additional ethanol production, storage and distribution facilities and related infrastructure as financial resources
and business prospects make the acquisition of these facilities advisable. In addition, we may also seek to acquire facility sites
under development.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">We believe that our competitive strengths include
the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Our</I> <I>customer</I> <I>and</I> <I>supplier</I> <I>relationships</I>. We have developed extensive business relationships
with our customers and suppliers. In particular, we have developed extensive business relationships with major and independent
un-branded gasoline suppliers who collectively control the majority of all gasoline sales in California and other Western states.
In addition, we have developed extensive business relationships with ethanol and grain suppliers throughout the Western and Midwestern
United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Our</I> <I>ethanol</I> <I>distribution</I> <I>network</I>. We believe that we have a competitive advantage due to our experience
in marketing to the segment of customers in major metropolitan and rural markets in the Western United States. We have developed
an ethanol distribution network for delivery of ethanol by truck to virtually every significant fuel terminal as well as to numerous
smaller fuel terminals throughout California and other Western states. Fuel terminals have limited storage capacity and we have
been successful in securing storage tanks at many of the terminals we service. In addition, we have an extensive network of third-party
delivery trucks available to deliver ethanol throughout the Western United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Our operational expertise</I>. We began managing ethanol production facilities in 2006. We believe that we have obtained
operational expertise and know-how that can be used to continue operating the Pacific Ethanol Plants and provide operational services
to third party facilities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Our</I> s<I>trategic locations</I>. We believe that our focus on developing and acquiring ethanol production facilities
in markets where local characteristics create the opportunity to capture a significant production and shipping cost advantage over
competing ethanol production facilities provides us with competitive advantages, including transportation cost, delivery timing
and logistical advantages as well as higher margins associated with the local sale of WDG and other co-products.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<!-- Field: Page; Sequence: 47; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Our low carbon-intensity ethanol.</I> The California Air Resources Board has enacted a low carbon fuels standard for transportation
fuels. If the standard goes into effect, carbon emission standards placed on ethanol produced in California will be higher than
in other states, significantly favoring low carbon-intensity fuels.&nbsp;The ethanol produced in California by the Pacific Ethanol
Plants and certain other California producers, all of which we market, will have a lower carbon-intensity rating than either gasoline
or ethanol produced in the mid-west, and will therefore be a superior product for our California customers. However, enforcement
of California&rsquo;s low carbon fuels standard has been halted by the U.S. District Court on federal constitutional grounds, a
decision that has been appealed by the California Air Resources Board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Modern technologies</I>. The Pacific Ethanol Plants use the latest production technologies to take advantage of state-of-the-art
technical and operational efficiencies in order to achieve lower operating costs and more efficient production of ethanol and its
co-products and reduce our use of carbon-based fuels.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Our experienced management</I>. Neil M. Koehler, our President and Chief Executive Officer, has over 30 years of experience
in the ethanol production, sales and marketing industry. Mr.&nbsp;Koehler is a Director of the California Renewable Fuels Partnership,
a Director of the Renewable Fuels Association, or RFA, and is a frequent speaker on the issue of renewable fuels and ethanol marketing
and production. In addition to Mr. Koehler, we have seasoned managers with many years of experience in the ethanol, fuel and energy
industries leading our various departments. We believe that the experience of our management over the past two decades and our
ethanol marketing operations have enabled us to establish valuable relationships in the ethanol industry and understand the business
of marketing and producing ethanol and its co-products.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe that these advantages will allow
us to capture an increasing share of the total market for ethanol and its co-products.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Overview of Ethanol Market </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The primary applications for fuel-grade ethanol in
the United States include:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Octane enhancer</I>. On average, regular unleaded gasoline has an octane rating of 87 and premium unleaded gasoline has
an octane rating of 91. In contrast, pure ethanol has an average octane rating of 113. Adding ethanol to gasoline enables refiners
to produce greater quantities of lower octane blend stock with an octane rating of less than 87 before blending. In addition, ethanol
is commonly added to finished regular grade gasoline as a means of producing higher octane mid-grade and premium gasoline.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Renewable fuels</I>. Ethanol is blended with gasoline in order to enable gasoline refiners to comply with a variety of governmental
programs, in particular, the national Renewable Fuel Standard, or national RFS, which was enacted to promote alternatives to fossil
fuels. See &ldquo;&mdash;Governmental Regulation.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Fuel blending</I>. In addition to its performance and environmental benefits, ethanol is used to extend fuel supplies. As
the need for automotive fuel in the United States increases and the dependence on foreign crude oil and refined products grows,
the United States is increasingly seeking domestic sources of fuel. Much of the ethanol blending throughout the United States is
done for the purpose of extending the volume of fuel sold at the gasoline pump.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<!-- Field: Page; Sequence: 48; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The United States ethanol industry is highly
dependent upon federal and state legislation and regulation. For example, the Energy Independence and Security Act of 2007, which
was signed into law in December 2007, significantly increased the prior national RFS. The national RFS increases the mandated use
of all renewable fuels to approximately 15.2 billion gallons in 2012 and 16.6 billion gallons in 2013. Under the national RFS,
the mandated use of all renewable fuels rises incrementally in succeeding years and peaks at 36.0 billion gallons by 2022. Under
the national RFS, approximately 13.2 billion gallons in 2012 and 13.8 billion gallons in 2013 are required from conventional, or
corn-based, ethanol, which also rises incrementally in succeeding years and peaks at 15.0 billion gallons by 2015. We believe that
these increases will bolster demand for ethanol.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The State of California has adopted a low
carbon fuels standard for transportation fuels. Originally intended to go into effect on January 1, 2011, the enforcement of the
low carbon fuels standard was halted on December 29, 2011 by the U.S. District Court on federal constitutional grounds. The California
Air Resources Board has appealed that decision. The state of California estimates that the standard will have the effect of increasing
current renewable fuels use in California by three to five times by 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">According to the RFA, the domestic ethanol
industry produced approximately 13.9 billion gallons of ethanol in 2011. We believe that the ethanol market in California alone
represented approximately 10% of the national market. However, the Western United States has relatively few ethanol facilities
and local ethanol production levels are substantially below the local demand for ethanol. The balance of ethanol is shipped via
rail from the Midwest to the Western United States. Gasoline and diesel fuel that supply the major fuel terminals are shipped in
pipelines throughout portions of the Western United States. Unlike gasoline and diesel fuel, however, ethanol is not shipped in
these pipelines because ethanol has an affinity for mixing with water already present in the pipelines. When mixed, water dilutes
ethanol and creates significant quality control issues. Therefore, ethanol must be trucked from rail terminals to regional fuel
terminals, or blending racks. In addition, we believe that ethanol prices in the Western United States are typically $0.15 to $0.20
per gallon higher than in the Midwest due to the freight costs of delivering ethanol from Midwest production facilities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe that approximately 90% of the
ethanol produced in the United States is made in the Midwest from corn. According to the Department of Energy, or DOE, ethanol
is generally blended at 10% by volume, but is also blended at up to 85% by volume for vehicles designed to operate on 85% ethanol.
The Environmental Protection Agency, or EPA, recently increased the allowable blend of ethanol in gasoline from 10% to 15% for
model year 2001 and newer automobiles, pending final application by blenders who will sell E15, and in some cases, approval by
certain state regulatory authorities. Compared to gasoline, ethanol is generally considered to be cleaner burning and contains
higher octane. We anticipate that the increasing demand for transportation fuels coupled with limited opportunities for gasoline
refinery expansions and the growing importance of reducing CO<SUB>2</SUB> emissions through the use of renewable fuels will generate
additional growth in the demand for ethanol in the Western United States.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">According to the DOE, total annual gasoline
consumption in the United States is approximately 137 billion gallons and total annual ethanol consumption represented approximately
10% of this amount in 2011. We believe that the domestic ethanol industry has substantial potential for growth to initially reach
the 10% blend ratio, increasing as the industry blends up to 15%, which equals an annual demand of between 13.7 billion gallons
and 20.0 billion gallons of ethanol. Furthermore, the national RFS requires an increase of up to 36 billion gallons of ethanol
annually by 2022, subject to an annual EPA review to adjust targets based on availability of commercially produced advanced and
cellulose biofuels.</P>

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

<!-- Field: Page; Sequence: 49; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Overview of Ethanol Production Process</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The production of ethanol from starch- or
sugar-based feedstocks has been refined considerably in recent years, leading to a highly-efficient process that we believe now
yields substantially more energy from ethanol and its co-products than is required to make the products. The modern production
of ethanol requires large amounts of corn, or other high-starch grains, and water as well as chemicals, enzymes and yeast, and
denaturants including unleaded gasoline or liquid natural gas, in addition to natural gas and electricity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the dry milling process, corn or other
high-starch grains are first ground into meal and then slurried with water to form a mash. Enzymes are then added to the mash to
convert the starch into the simple sugar, dextrose. Ammonia is also added for acidic (pH) control and as a nutrient for the yeast.
The mash is processed through a high temperature cooking procedure, which reduces bacteria levels prior to fermentation. The mash
is then cooled and transferred to fermenters, where yeast is added and the conversion of sugar to ethanol and CO<SUB>2 </SUB>begins.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After fermentation, the resulting &ldquo;beer&rdquo;
is transferred to distillation, where the ethanol is separated from the residual &ldquo;stillage.&rdquo; The ethanol is concentrated
to 190 proof using conventional distillation methods and then is dehydrated to approximately 200 proof, representing 100% alcohol
levels, in a molecular sieve system. The resulting anhydrous ethanol is then blended with about 5% denaturant, which is usually
gasoline, and is then ready for shipment to market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The residual stillage is separated into
a coarse grain portion and a liquid portion through a centrifugation process. The soluble liquid portion is concentrated to about
40% dissolved solids by an evaporation process. This intermediate state is called condensed distillers solubles, or syrup. The
coarse grain and syrup portions are then mixed to produce WDG or can be mixed and dried to produce dried distillers grains with
solubles, or DDGS. Both WDG and DDGS are high-protein animal feed products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Overview of Distillers Grains Market</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Most distillers grains are produced in the
Midwest, where producers dry the grains before shipping. Successful and profitable delivery of DDGS from the Midwest to markets
in the Western United States faces a number of challenges, including drying of distiller grains which may increase the energy cost
to dry the grains and reduce the quality of the feed product, and longer distance to market, which may increase the handling and
transportation costs to deliver the grains to market. By not drying the distillers grains and by shipping WDG locally, we believe
that we will be able to better preserve the feed value of this product, as the WDG retains a higher percentage of nutrients than
DDGS.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Historically, the market price for distillers
grains has generally tracked the value of corn. We believe that the market price of DDGS is determined by a number of factors,
including the market value of corn, soybean meal and other competitive ingredients, the performance or value of DDGS in a particular
feed formulation and general market forces of supply and demand. The market price of distillers grains is also often influenced
by nutritional models that calculate the feed value of distillers grains by nutritional content, as well as reliability of consistent
supply.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We sell ethanol produced by the Pacific
Ethanol Plants and other third-parties to various customers in the Western United States. We also arrange for transportation, storage
and delivery of ethanol purchased by our customers through our agreements with third-party service providers. In addition, we sell
WDG produced by the Pacific Ethanol Plants to customers comprised of dairies and feedlots located near the Pacific Ethanol Plants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">During 2011 and 2010, we produced or purchased
ethanol from third parties and resold an aggregate of approximately 283 million and 226 million gallons of fuel-grade ethanol to
approximately 55 and 57 customers, respectively. Sales to our largest customer, Chevron Products USA, in 2011 and 2010 represented
approximately 22% and 19%, of our net sales, respectively. Sales to each of our other customers represented less than 10% of our
net sales in each of 2011 and 2010.</P>

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

<!-- Field: Page; Sequence: 50; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Most of the major metropolitan areas
in the Western United States have fuel terminals served by rail, but other major metropolitan areas and more remote smaller cities
and rural areas do not. We believe that we have a competitive advantage due to our experience in marketing to the segment of customers
in major metropolitan and rural markets in the Western United States. We manage the complicated logistics of shipping ethanol purchased
from third-parties from the Midwest by rail to intermediate storage locations throughout the Western United States and trucking
the ethanol from these storage locations to blending racks where the ethanol is blended with gasoline. We believe that by establishing
an efficient service for truck deliveries to these more remote locations, we have differentiated ourselves from our competitors.
In addition, by producing ethanol in the Western United States, we believe that we will benefit from our ability to increase spot
sales of ethanol from this additional supply following ethanol price spikes caused from time to time by rail delays in delivering
ethanol from the Midwest to the Western United States. In addition to producing ethanol, we produce ethanol co-products, including
WDG. We endeavor to position WDG as the protein feed of choice for cattle based on its nutritional composition, consistency of
quality and delivery, ease of handling and its mixing ability with other feed ingredients. We are one of the few WDG producers
with production facilities located in the Western United States and we primarily sell our WDG to dairy farmers in close proximity
to the Pacific Ethanol Plants.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0">Suppliers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our marketing operations are dependent
upon various third-party producers of fuel-grade ethanol. In addition, we provide ethanol transportation, storage and delivery
services through third-party service providers with whom we have contracted to receive ethanol at agreed upon locations from our
suppliers and to store and/or deliver the ethanol to agreed-upon locations on behalf of our customers. These contracts generally
run from year-to-year, subject to termination by either party upon advance written notice before the end of the then current annual
term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">During 2011 and 2010, we purchased fuel-grade
ethanol and corn, the largest component in producing ethanol, from our suppliers. Purchases from our three largest suppliers in
2011 represented approximately 64% of our total ethanol and corn purchases. Purchases from our three largest suppliers in 2010
represented approximately 60% of our total ethanol and corn purchases. Purchases from each of our other suppliers represented less
than 10% of total ethanol and corn purchases in each of 2011 and 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The ethanol production operations of
the Pacific Ethanol Plants are dependent upon various raw materials suppliers, including suppliers of corn, natural gas, electricity
and water. The cost of corn is the most important variable cost associated with the production of ethanol. An ethanol facility
must be able to efficiently ship corn from the Midwest via rail and cheaply and reliably truck ethanol to local markets. We believe
that our existing grain receiving facilities at the Pacific Ethanol Plants are some of the most efficient grain receiving facilities
in the United States. We source corn for the Pacific Ethanol Plants using standard contracts, including spot purchase, forward
purchase and basis contracts. When resources are available to do so, we seek to limit the exposure of the Pacific Ethanol Plants
to raw material price fluctuations by purchasing forward a portion of their corn requirements on a fixed price basis and by purchasing
corn and other raw materials futures contracts.</P>

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

<!-- Field: Page; Sequence: 51; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0">Pacific Ethanol Plants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 12pt; text-indent: 0.5in">The table below provides an overview
of the Pacific Ethanol Plants owned by New PE Holdco and operated by us. Three of the Pacific Ethanol Plants are currently operational.
As future market conditions change, we may increase, decrease or idle production at those facilities which are operational or resume
operations of any facility which is not operational.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 40%; padding-right: 0.05in; padding-left: 12pt; font-weight: bold; text-indent: -12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Madera<BR>
        Facility</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Columbia<BR>
        Facility</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 13%; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Magic Valley<BR>
        Facility</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 15%; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Stockton<BR>
        Facility</B></P></TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt"><FONT STYLE="font-size: 10pt">Location&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">Madera, CA</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">Boardman, OR</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Burley, ID</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">Stockton, CA</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt"><FONT STYLE="font-size: 10pt">Quarter/Year operations began&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">4<SUP>th</SUP> Qtr., 2006</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">3<SUP>rd</SUP> Qtr., 2007</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">2<SUP>nd</SUP> Qtr., 2008</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">3<SUP>rd</SUP> Qtr., 2008</FONT></TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt"><FONT STYLE="font-size: 10pt">Operating status&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">Idled</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">Operating</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Operating</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">Operating</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt"><FONT STYLE="font-size: 10pt">Approximate maximum annual ethanol production capacity (in millions of gallons)&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">40</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">40</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">60</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">60</FONT></TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt"><FONT STYLE="font-size: 10pt">Ownership by New PE Holdco&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">100%</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.8pt; text-indent: -5.8pt"><FONT STYLE="font-size: 10pt">Primary energy source&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">Natural Gas</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">Natural Gas</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Natural Gas</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">Natural Gas</FONT></TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.05in; padding-left: 5.75pt; text-indent: -5.75pt"><FONT STYLE="font-size: 10pt">Estimated annual WDG production capacity (in thousands of tons)&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">293</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">293</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">418</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">418</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0">Commodity Risk Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We employ various risk mitigation techniques.
For example, we may seek to mitigate our exposure to commodity price fluctuations by purchasing forward a portion of our corn and
natural gas requirements through fixed-price or variable-price contracts with our suppliers, as well as entering into derivative
contracts for ethanol, corn and natural gas. To mitigate ethanol inventory price risks, we may sell a portion of our production
forward under fixed- or index-price contracts, or both. We may hedge a portion of the price risks by selling exchange-traded futures
contracts. Proper execution of these risk mitigation strategies can reduce the volatility of our gross profit margins. However,
given the nature of our business, we cannot effectively hedge against extreme volatility or certain market conditions. For example,
over a period of four weeks at the end of 2011, the west coast market price of ethanol declined by approximately 28%, which substantially
reduced our fourth quarter and full year profitability.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0">Marketing Arrangements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In addition to our marketing agreements
with the Plant Owners whose facilities are operational to market all of the ethanol produced at those Pacific Ethanol Plants, we
have exclusive ethanol marketing agreements with third-party ethanol producers, including Calgren Renewable Fuels, LLC, Front Range
Energy, LLC, or Front Range, and AE Advanced Fuels Keyes, Inc. to market and sell their entire ethanol production volumes. Calgren
Renewable Fuels, LLC owns and operates an ethanol production facility in Pixley, California with annual production capacity of
55 million gallons. Front Range owns and operates an ethanol production facility in Windsor, Colorado with annual production capacity
of 50 million gallons. AE Advanced Fuels Keyes, Inc. owns and operates an ethanol production facility in Keyes, California with
annual production capacity of 55 million gallons. We intend to evaluate and pursue opportunities to enter into marketing arrangements
with other ethanol producers as business prospects make these marketing arrangements advisable.</P>

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

<!-- Field: Page; Sequence: 52; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0">Competition</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We operate in the highly competitive
ethanol marketing and production industry. The largest ethanol producers in the United States are Archer Daniels Midland Company,
or ADM, and Valero Energy Corporation, or Valero, collectively with over 20% of the total installed capacity of ethanol in the
United States. In addition, there are many mid-size producers with several plants under ownership, smaller producers with one or
two plants, and several ethanol marketers that create significant competition. Overall, we believe there are over 200 ethanol facilities
in the United States with an installed operating capacity of approximately 14.9 billion gallons and many brokers and marketers
with whom we compete for sales of ethanol and its co-products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We believe that our competitive strengths
include our strategic locations in the Western United States, our extensive ethanol distribution network, our extensive customer
and supplier relationships, our use of modern technologies at our production facilities and our experienced management. We believe
that these advantages will allow us to capture an increasing share of the total market for ethanol and its co-products and earn
favorable margins on ethanol and its co-products that we produce.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our strategic focus on particular geographic
locations designed to exploit cost efficiencies may nevertheless result in higher than expected costs as a result of more expensive
raw materials and related shipping costs, including corn, which generally must be transported from the Midwest. If the costs of
producing and shipping ethanol and its co-products over short distances are not advantageous relative to the costs of obtaining
raw materials from the Midwest, then the planned benefits of our strategic locations may not be realized.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0">Governmental Regulation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our business is subject to federal, state
and local laws and regulations relating to the production of renewable fuels, the protection of the environment and in support
of the corn and ethanol industries. These laws, their underlying regulatory requirements and their enforcement, some of which are
described below, impact, or may impact, our existing and proposed business operations by imposing:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>restrictions on our existing and proposed business operations and/or the need to install enhanced or additional controls;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the need to obtain and comply with permits and authorizations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>liability for exceeding applicable permit limits or legal requirements, in some cases for the remediation of contaminated soil
and groundwater at our facilities, contiguous and adjacent properties and other properties owned and/or operated by third parties;
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>specifications for the ethanol we market and produce.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In addition, some governmental regulations
are helpful to our ethanol marketing and production business. The ethanol fuel industry is greatly dependent upon mandates and
environmental regulations that favor the use of ethanol in motor fuel blends in North America. Some of the governmental regulations
applicable to our ethanol marketing and production business are briefly described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.25in"><B><I>Clean Air Act Amendments of 1990</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In November 1990, a comprehensive amendment
to the Clean Air Act of 1977, or Clean Air Act, established a series of requirements and restrictions for gasoline content designed
to reduce air pollution in identified problem areas of the United States. The two principal components affecting motor fuel content
are the oxygenated fuels program, which is administered by states under federal guidelines, and a federally supervised reformulated
gasoline, or RFG, program.</P>

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

<!-- Field: Page; Sequence: 53; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0; text-indent: 0.25in">Oxygenated Fuels Program</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Federal law requires the sale of oxygenated
fuels in a number of carbon monoxide non-attainment Metropolitan Statistical Areas, or MSAs, during at least four winter months,
typically November through February. Any additional MSAs not in compliance for a period of two consecutive years may also be included
in the program. The EPA Administrator is afforded flexibility in requiring a shorter or longer period of use depending upon available
supplies of oxygenated fuels or the level of non-attainment. This law currently affects the Los Angeles area, where over 150 million
gallons of ethanol are blended with gasoline each winter.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0; text-indent: 0.25in">Reformulated Gasoline Program</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Clean Air Act Amendments of 1990
established special standards effective January 1, 1995 for the most polluted ozone non-attainment areas: Los Angeles Area, Baltimore,
Chicago Area, Houston Area, Milwaukee Area, New York City Area, Hartford, Philadelphia Area and San Diego, with provisions to add
other areas in the future if conditions warrant. California&rsquo;s San Joaquin Valley, the location of both the Madera and Stockton
facilities, was added in 2002. At the outset of the RFG program there were a total of 96 MSAs not in compliance with clean air
standards for ozone, which represents approximately 60% of the national market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The RFG program also includes a provision
that allows individual states to &ldquo;opt into&rdquo; the federal program by request of the governor, to adopt standards promulgated
by California that are stricter than federal standards, or to offer alternative programs designed to reduce ozone levels. Nearly
the entire Northeast and middle Atlantic areas from Washington, D.C. to Boston not under the federal mandate have &ldquo;opted
into&rdquo; the federal standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">These state mandates in recent years
have created a variety of gasoline grades to meet different regional environmental requirements. The RFG program accounts for about
30% of nationwide gasoline consumption. California refiners blend a minimum of 2.0% oxygen by weight, which is the equivalent of
5.7% ethanol in every gallon of gasoline, or roughly 1.0 billion gallons of ethanol per year in California alone.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0; text-indent: 0.25in">National Energy Legislation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In addition, the Energy Independence
and Security Act of 2007, which was signed into law in December 2007, significantly increased the prior national RFS. The national
RFS significantly increases the mandated use of renewable fuels to approximately 15.2 billion gallons in 2012, and rises incrementally
and peaks at 36.0 billion gallons by 2022.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0; text-indent: 0.25in">E15 (a Blend of Gasoline
and Ethanol)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In October 2010, the EPA partially granted
a waiver request application submitted under the Clean Air Act. This partial waiver allows fuel and fuel additive manufacturers
to introduce into commerce gasoline that contains greater than 10 volume percent of ethanol, up to 15 volume percent of ethanol,
or E15, for use in some motor vehicles once other conditions are fulfilled. This waiver only applies to vehicles from model year
2001 and beyond. It is important to remember that there are a number of additional steps that must be completed &ndash; some of
which are not under EPA control &ndash; to allow the sale and distribution of E15. These include, but are not limited to, submission
of a complete E15 fuels registration application by industry, and, for certain states, changes to some states&rsquo; laws to allow
for the use of E15.</P>

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

<!-- Field: Page; Sequence: 54; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0; text-indent: 0.25in">State Energy Legislation
and Regulations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In January 2007, California&rsquo;s Governor
signed an executive order directing the California Air Resources Board to implement California&rsquo;s low carbon fuels standard
for transportation fuels. The enforcement of the low carbon fuels standard was recently halted by the U.S. District Court on federal
constitutional grounds, a decision that has been appealed by the California Air Resources Board. If enforced, the Governor&rsquo;s
office estimates that the standard will have the effect of increasing current renewable fuels use in California by three to five
times by 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The State of California has established
a policy to support ethanol produced in California with the California Ethanol Producer Incentive Program, or CEPIP, a producer
incentive which offers up to $0.25 per gallon when ethanol production profitability is less than prescribed levels determined by
the California Energy Commission, or CEC. The Pacific Ethanol Plants located in California are eligible for the CEPIP, and the
Stockton facility participated in the program in 2010 and 2011. For 2012, this program is currently not funded and no assurances
can be given that the CEC will decide to fund the CEPIP or that the CEC will not alter the program thresholds, participant eligibility
or other policy choices that may impact the ability of the Pacific Ethanol Plants located in California to be eligible for the
CEPIP.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0; text-indent: 0.25in">Additional Environmental
Regulations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In addition to the governmental regulations
applicable to the ethanol marketing and production industries described above, our business is subject to additional federal, state
and local environmental regulations, including regulations established by the EPA, the San Joaquin Valley Regional Water Quality
Control Board, the San Joaquin Valley Air Pollution Control District and the California Air Resources Board. We cannot predict
the manner or extent to which these regulations will harm or help our business or the ethanol production and marketing industry
in general.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 11pt 0 0">Employees</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">As of February 6, 2013, we had approximately
172 full-time employees. We believe that our employees are highly-skilled, and our success will depend in part upon our ability
to retain our employees and attract new qualified employees, many of whom are in great demand. We have never had a work stoppage
or strike, and no employees are presently represented by a labor union or covered by a collective bargaining agreement. We consider
our relations with our employees to be good.</P>

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

<!-- Field: Page; Sequence: 55; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The following table sets forth information
regarding our current directors and executive officers as of February 6, 2013:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%; padding-right: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; border-bottom: Black 0.5pt solid"><B>Name</B></P></TD>
    <TD STYLE="width: 9%; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Age</B></P></TD>
    <TD STYLE="width: 54%; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; border-bottom: Black 0.5pt solid"><B>Positions Held</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 0.1in">William L. Jones&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">63</TD>
    <TD STYLE="padding-left: 0.1in; padding-right: 0.1in">Chairman of the Board and Director</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.1in">Neil M. Koehler&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">54</TD>
    <TD STYLE="padding-left: 0.1in; padding-right: 0.1in">Chief Executive Officer, President and Director</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 0.1in">Michael D. Kandris&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">65</TD>
    <TD STYLE="padding-left: 0.1in; padding-right: 0.1in">Director and Chief Operating Officer</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.1in">Bryon T. McGregor&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">49</TD>
    <TD STYLE="padding-left: 0.1in; padding-right: 0.1in">Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 0.1in">Christopher W. Wright&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">60</TD>
    <TD STYLE="padding-left: 0.1in; padding-right: 0.1in">Vice President, General Counsel and Secretary</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.1in">Terry L. Stone <SUP>(1)</SUP>&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">63</TD>
    <TD STYLE="padding-left: 0.1in; padding-right: 0.1in">Director</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 0.1in">John L. Prince <SUP>(1)</SUP>&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">70</TD>
    <TD STYLE="padding-left: 0.1in; padding-right: 0.1in">Director</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.1in">Douglas L. Kieta <SUP>(2)</SUP>&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">70</TD>
    <TD STYLE="padding-left: 0.1in; padding-right: 0.1in">Director </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 0.1in">Larry D. Layne <SUP>(3)</SUP>&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">72</TD>
    <TD STYLE="padding-left: 0.1in; padding-right: 0.1in">Director</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5.5pt">___________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2pt 0 0 5.5pt">(1)&#9;Member of the Audit, Compensation and Nominating
and Governance Committees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2pt 0 0 5.5pt">(2)&#9;Member of the Compensation and Nominating and
Governance Committees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2pt 0 0 5.5pt">(3)&#9;Member of the Audit and Compensation Committees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our officers are appointed by and serve
at the discretion of our Board of Directors, or Board. There are no family relationships among our executive officers and directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Following is a brief description of the
business experience and educational background of each of our directors and executive officers, including the capacities in which
they served during the past five years:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B><I>William L. Jones</I></B> has served
as Chairman of the Board and as a director since March 2005. Mr. Jones is a co-founder of Pacific Ethanol California, Inc., or
PEI California, which is one of our predecessors, and served as Chairman of the Board of PEI California since its formation in
January 2003 through March 2004, when he stepped off the board of directors of PEI California to focus on his candidacy for one
of California&rsquo;s United States Senate seats. Mr. Jones was California&rsquo;s Secretary of State from 1995 to 2003. Since
May 2002, Mr. Jones has also been the owner of Tri-J Land &amp; Cattle, a diversified farming and cattle company in Fresno County,
California. Mr. Jones has a B.A. degree in Agribusiness and Plant Sciences from California State University, Fresno.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Jones&rsquo;s qualifications to serve
on our Board include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>co-founder of PEI California;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>knowledge gained through his extensive work as our Chairman since our inception in 2005;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extensive knowledge of and experience in the agricultural and feed industries, as well as a deep understanding of operations
in political environments; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>background as an owner of a farming company in California, and his previous role in the California state government.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 56; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B><I>Neil M. Koehler</I></B> has served
as Chief Executive Officer, President and as a director since March 2005. Mr. Koehler is a co-founder of PEI California and served
as its Chief Executive Officer since its formation in January 2003 and as a member of its board of directors from March 2004 until
its dissolution in March 2012. Prior to his association with PEI California, Mr. Koehler was the co-founder and General Manager
of Parallel Products, one of the first ethanol production facilities in California, which was sold to a public company in 1997.
Mr. Koehler was also the sole manager and sole limited liability company member of Kinergy Marketing, LLC, which he founded in
September 2000, and which is one of our wholly-owned subsidiaries. Mr. Koehler has over 30 years of experience in the ethanol production,
sales and marketing industry in the Western United States. Mr. Koehler is a Director of the California Renewable Fuels Partnership,
a Director of the Renewable Fuels Association and is a nationally-recognized speaker on the production and marketing of renewable
fuels. Mr. Koehler has a B.A. degree in Government from Pomona College.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Koehler&rsquo;s qualifications to
serve on our Board include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>day-to-day leadership experience as our current President and Chief Executive Officer provides Mr. Koehler with intimate knowledge
of our operations;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extensive knowledge of and experience in the ethanol production, sales and marketing industry, particularly in the Western
United States;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>prior leadership experience with other companies in the ethanol industry; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>day-to-day leadership experience affords a deep understanding of business operations, challenges and opportunities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B><I>Michael D. Kandris</I></B> has
served as a director since June 2008 and as our Chief Operating Officer since January 6, 2013. Mr. Kandris served as an independent
contractor with supervisory responsibility for ethanol plant operations, under the direction of our Chief Executive Officer, from
January 1, 2012 to January 5, 2013. Mr. Kandris was President, Western Division of Ruan Transportation Management Systems from
November 2007 until his retirement in September 2009. From January 2000 to November 2007, Mr. Kandris served as President and Chief
Operating Officer of Ruan Transportation Management Systems, where he had overall responsibility for all operations, finance and
administrative functions. Mr. Kandris has 30 years of experience in all modes of transportation and logistics. Mr. Kandris served
on the Executive Committee of the American Trucking Association and as a board member for the National Tank Truck Organization
until his retirement from Ruan Transportation Management Systems in September 2009. Mr. Kandris has a B.S. degree in Business from
California State University, Hayward.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Kandris&rsquo; qualifications to
serve on our Board include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extensive experience in various executive leadership positions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extensive experience in rail and truck transportation and logistics; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>day-to-day leadership experience affords a deep understanding of business operations, challenges and opportunities.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 57; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B><I>Bryon T. McGregor</I></B> has served
as our Chief Financial Officer since November 19, 2009. Mr. McGregor served as Vice President, Finance at Pacific Ethanol from
September 2008 until he became Interim Chief Financial Officer in April 2009. Prior to joining Pacific Ethanol, Mr. McGregor was
employed as Senior Director for E*TRADE Financial from February 2002 to August 2008, serving in various capacities including International
Treasurer based in London, England from 2006 to 2008, Brokerage Treasurer and Director from 2003 to 2006 and Assistant Treasurer
and Director of Finance and Investor Relations from 2002 to 2003. Prior to joining E*TRADE, Mr. McGregor served as Manager of Finance
and Head of Project Finance for BP (formerly Atlantic Richfield Company &ndash; ARCO) from 1998 to 2001. Mr. McGregor has extensive
experience in banking and served as a Director of International Project Finance for Credit Suisse from 1992 to 1998, as Assistant
Vice President for Sumitomo Mitsubishi Banking Corp (formerly The Sumitomo Bank Limited) from 1989 to 1992, and as Commercial Banking
Officer for Bank of America from 1987 to 1989. Mr. McGregor has a B.S. degree in Business Management from Brigham Young University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B><I>Christopher W. Wright</I></B> has
served as Vice President, General Counsel and Secretary since June 2006. From April 2004 until he joined Pacific Ethanol in June
2006, Mr. Wright operated an independent consulting practice, advising companies on complex transactions, including acquisitions
and financings. Prior to that time, from January 2003 to April 2004, Mr. Wright was a partner with Orrick, Herrington &amp; Sutcliffe,
LLP, and from July 1998 to December 2002, Mr. Wright was a partner with Cooley Godward LLP, where he served as Partner-in-Charge
of the Pacific Northwest office. Mr. Wright has extensive experience advising boards of directors on compliance, securities matters
and strategic transactions, with a particular focus on guiding the development of rapidly growing companies. He has acted as general
counsel for numerous technology enterprises in all aspects of corporate development, including fund-raising, business and technology
acquisitions, mergers and strategic alliances. Mr. Wright has an A.B. degree in History from Yale College and a J.D. from the University
of Chicago Law School.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B><I>Terry L. Stone</I></B> has served
as a director since March 2005. Mr. Stone is a Certified Public Accountant with over thirty years of experience in accounting and
taxation. He has been the owner of his own accountancy firm since 1990 and has provided accounting and taxation services to a wide
range of industries, including agriculture, manufacturing, retail, equipment leasing, professionals and not-for-profit organizations.
Mr. Stone has served as a part-time instructor at California State University, Fresno, teaching classes in taxation, auditing and
financial and management accounting. Mr. Stone is also a financial advisor and franchisee of Ameriprise Financial Services, Inc.
Mr. Stone has a B.S. degree in Accounting from California State University, Fresno.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Stone&rsquo;s qualifications to serve
on our Board include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extensive experience with financial accounting and tax matters;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>recognized expertise as an instructor of taxation, auditing and financial and management accounting;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;audit committee financial expert,&rdquo; as defined by the Securities and Exchange Commission, and satisfies the &ldquo;financial
sophistication&rdquo; requirements of NASDAQ&rsquo;s listing standards; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>ability to communicate and encourage discussion, together with his experience as a senior independent director of all Board
committees on which he serves make him an effective chairman of our Audit Committee.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 58; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B><I>John L. Prince</I></B> has served
as a director since July 2005. Mr. Prince is retired but also works as a consultant to Ruan Transport Corp. and other companies.
Mr. Prince was an Executive Vice President with Land O&rsquo; Lakes, Inc. from July 1998 until his retirement in 2004. Prior to
that time, Mr. Prince was President and Chief Executive Officer of Dairyman&rsquo;s Cooperative Creamery Association located in
Tulare, California, until its merger with Land O&rsquo; Lakes, Inc. in July 1998. Land O&rsquo; Lakes, Inc. is a farmer-owned,
national branded organization based in Minnesota with annual sales in excess of $6 billion and membership and operations in over
30 states. Prior to joining the Dairyman&rsquo;s Cooperative Creamery Association, Mr. Prince was President and Chief Executive
Officer for nine years until 1994, and was Operations Manager for the preceding ten years commencing in 1975, of the Alto Dairy
Cooperative in Waupun, Wisconsin. Mr. Prince has a B.A. degree in Business Administration from the University of Northern Iowa.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Prince&rsquo;s qualifications to
serve on our Board include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extensive experience in various executive leadership positions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>day-to-day leadership experience affords a deep understanding of business operations, challenges and opportunities; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>ability to communicate and encourage discussion helps Mr. Prince discharge his duties effectively as chairman of our Nominating
and Corporate Governance Committee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B><I>Douglas L. Kieta</I></B> has served
as a director since April 2006. Mr. Kieta is currently retired. Prior to retirement in January 2009, Mr. Kieta was employed by
BE&amp;K, Inc., a large engineering and construction company headquartered in Birmingham, Alabama, where he served as the Vice
President of Power from May 2006 to January 2009. From April 1999 to April 2006, Mr. Kieta was employed at Calpine Corporation
where he was the Senior Vice President of Construction and Engineering. Calpine Corporation is a major North American power company
which leases and operates integrated systems of fuel-efficient natural gas-fired and renewable geothermal power plants and delivers
clean, reliable and fuel-efficient electricity to customers and communities in 21 states and three Canadian provinces. Mr. Kieta
has a B.S. degree in Civil Engineering from Clarkson University and a Master&rsquo;s degree in Civil Engineering from Cornell University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Kieta&rsquo;s qualifications to serve
on our Board include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extensive experience in various leadership positions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>day-to-day leadership experience affords a deep understanding of business operations, challenges and opportunities; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>service with Calpine affords a deep understanding of large-scale construction and engineering projects as well as plant operations,
which is particularly relevant to our ethanol production facility operations.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 59; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B><I>Larry D. Layne</I></B> has served
as a director since December 2007. Mr. Layne joined First Western Bank in 1963 and served in various capacities with First Western
Bank and its acquiror, Lloyds Bank of California, and Lloyd&rsquo;s acquiror, Sanwa Bank, until his retirement in 2000. Sanwa Bank
was subsequently acquired by Bank of the West. From 1999 to 2000, Mr. Layne was Vice Chairman of Sanwa Bank in charge of its Commercial
Banking Group which encompassed all of Sanwa Bank&rsquo;s 38 commercial and business banking centers and 12 Pacific Rim branches
as well as numerous internal departments. From 1997 to 2000, Mr. Layne was also Chairman of the Board of The Eureka Funds, a mutual
fund family of five separate investment funds with total assets of $900,000,000. From 1996 to 2000, Mr. Layne was Group Executive
Vice President of the Relationship Banking Group of Sanwa Bank in charge of its 107 branches and 13 commercial banking centers
as well as numerous internal departments. Mr. Layne has also served in various capacities with many industry and community organizations,
including as Director and Chairman of the Board of the Agricultural Foundation at California State University, Fresno; Chairman
of the Audit Committee of the Ag. Foundation at California State University, Fresno; board member of the Fresno Metropolitan Flood
Control District; and Chairman of the Ag Lending Committee of the California Bankers Association. Mr. Layne has a B.S. degree in
Dairy Husbandry from California State University, Fresno and is a graduate of the California Agriculture Leadership Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Layne&rsquo;s qualifications to serve
on our Board include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extensive experience in various leadership positions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>day-to-day leadership experience affords a deep understanding of business operations, challenges and opportunities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>experience and involvement in California industry and community organizations provides a useful perspective; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>ability to communicate and encourage discussion helps Mr. Layne discharge his duties effectively as chairman of our Compensation
Committee.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our corporate governance guidelines provide
that a majority of the Board and all members of our Audit, Compensation and Nominating and Corporate Governance Committees shall
be independent. On an annual basis, each director and executive officer is obligated to complete a Director and Officer Questionnaire
that requires disclosure of any transactions with Pacific Ethanol in which a director or executive officer, or any member of his
or her immediate family, have a direct or indirect material interest. Following completion of these questionnaires, the Board,
with the assistance of the Nominating and Corporate Governance Committee, makes an annual determination as to the independence
of each director using the current standards for &ldquo;independence&rdquo; established by the Securities and Exchange Commission
and NASDAQ, additional criteria contained in our corporate governance guidelines and consideration of any other material relationship
a director may have with Pacific Ethanol.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Board has determined that all of
its directors are independent under these standards, except for (i)&nbsp;William L. Jones, as a result of his receipt of interest
payments in excess of $120,000 attributable to a loan made to us by Mr. Jones, (ii)&nbsp;Michael D. Kandris, who serves as our
Chief Operating Officer , and (iii)&nbsp;Neil M.&nbsp;Koehler, who serves full-time as our Chief Executive Officer and President.
See &ldquo;Certain Relationships and Related Transactions&rdquo; below.</P>

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

<!-- Field: Page; Sequence: 60; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0"><B>Compensation of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We use a combination of cash and equity-based
incentive compensation to attract and retain qualified candidates to serve on our Board. In setting the compensation of directors,
we consider the significant amount of time that Board members spend in fulfilling their duties to Pacific Ethanol as well as the
experience level we require to serve on our Board. The Board, through its Compensation Committee, annually reviews the compensation
and compensation policies for Board members. In recommending director compensation, the Compensation Committee is guided by the
following three goals:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>compensation should pay directors fairly for work required in a company of our size and scope;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>compensation should align directors&rsquo; interests with the long-term interests of our stockholders; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the structure of the compensation should be clearly disclosed to our stockholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In addition, as with our executive compensation,
in making compensation decisions as to our directors, our Compensation Committee compared our cash and equity compensation payable
to directors against market data obtained by Aon Hewitt in 2007 and market data obtained from survey data provided by Equilar,
Inc. The Aon Hewitt data included a general industry survey of 235 companies with less than $1 billion in annual revenues and a
general industry survey of 51 companies with between $500 million and $1 billion in annual revenues. The data provided by Equilar,
Inc. included a survey of 20 companies in the chemicals sector with between $200 million and $1 billion in annual revenues. The
Compensation Committee sets compensation for our directors at approximately the median of compensation paid to directors of the
companies surveyed by Aon Hewitt and Equilar, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Cash Compensation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our cash compensation plan for directors
provides the Chairman of our Board annual compensation of $80,000, the Chairman of our Audit Committee annual compensation of $42,000,
the Chairman of our Compensation Committee annual compensation of $36,000, the Chairman of our Nominating and Corporate Governance
Committee annual compensation of $36,000, the Chairman of our Operations and Feed Committee annual compensation of $36,000 and
the Chairman of our Strategic Transactions Committee annual compensation of $36,000. All other directors, except employee directors,
are to receive annual compensation of $24,000. These amounts are paid in advance in bi-weekly installments. In addition, directors
are reimbursed for specified reasonable and documented expenses in connection with attendance at meetings of our Board and its
committees. Employee directors do not receive director compensation in connection with their service as directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Equity Compensation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our Compensation Committee or our full
Board typically grants equity compensation to our newly elected or reelected directors which normally vests as to 100% of the grants
no later than one year after the date of grant. Vesting is normally subject to continued service on our Board during the full year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In determining the amount of equity compensation,
the Compensation Committee determines the value of total compensation, approximately targeting the median of compensation paid
to directors of the companies comprising the market data provided to us by Aon Hewitt in 2007. The Compensation Committee then
determines the cash component based on this market data. The balance of the total compensation target is then allocated to equity
awards, and the number of shares to be granted to our directors is based on the estimated value of the underlying shares on the
expected grant date.</P>

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

<!-- Field: Page; Sequence: 61; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">In addition, our Compensation Committee
may grant, and has from time to time granted, additional equity compensation to directors at its discretion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Koehler was compensated as a full-time
employee and officer but received no additional compensation for service as a Board member during 2012. Information regarding the
compensation awarded to Mr. Koehler is included in &ldquo;Executive Compensation and Related Information&mdash;Summary Compensation
Table&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Director Compensation Table &ndash; 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The following table summarizes the compensation
of our non-employee directors for the year ended December&nbsp;31, 2012.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Fees
                                                                  Earned</B><BR> <B>or Paid in Cash</B><BR> <B>($)</B><SUP>(1)</SUP></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>All other<BR>Compensation</B><BR> <B>($)</B><SUP>(2)</SUP></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total<BR> ($)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 28%; text-align: left">William L. Jones<FONT STYLE="font-size: 10pt"><SUP>(3)</SUP></FONT></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">80,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">80,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Terry L. Stone<FONT STYLE="font-size: 10pt"><SUP>(4)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">42,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">42,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">John L. Prince<FONT STYLE="font-size: 10pt"><SUP>(5)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Douglas L. Kieta<FONT STYLE="font-size: 10pt"><SUP>(6)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Larry D. Layne<FONT STYLE="font-size: 10pt"><SUP>(7)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Michael D. Kandris<FONT STYLE="font-size: 10pt"><SUP>(8)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">239,135</TD><TD STYLE="text-align: left"><SUP>(9)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">275,135</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(1)</TD><TD STYLE="padding-right: 27pt">For a description of annual director fees and fees for chair positions, see the disclosure above
under &ldquo;Compensation of Directors&mdash;Cash Compensation.&rdquo;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(2)</TD><TD STYLE="padding-right: 27pt">Except as contained in the table, the value of perquisites and other personal benefits was less
than $10,000 in aggregate for each director.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(3)</TD><TD STYLE="padding-right: 27pt">At December 31, 2012, Mr. Jones held 47,522 vested shares from stock awards and also held options
to purchase an aggregate of 7,143 shares of common stock.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(4)</TD><TD STYLE="padding-right: 27pt">At December 31, 2012, Mr. Stone held 33,878 vested shares from stock awards and also held options
to purchase an aggregate of 2,143 shares of common stock.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(5)</TD><TD STYLE="padding-right: 27pt">At December 31, 2012, Mr. Prince held 29,592 vested shares from stock awards and also held options
to purchase an aggregate of 2,143 shares of common stock.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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="padding-right: 27pt">At December 31, 2012, Mr. Kieta held 38,821 vested shares from stock awards.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(7)</TD><TD STYLE="padding-right: 27pt">At December 31, 2012, Mr. Layne held 34,535 vested shares from stock awards.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(8)</TD><TD STYLE="padding-right: 27pt">At December 31, 2011, Mr. Kandris held 33,878 vested shares from stock awards. On January 6, 2013,
we entered into an Executive Employment Agreement with Mr. Kandris under which Mr. Kandris became our Chief Operating Officer.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(9)</TD><TD STYLE="padding-right: 27pt">Represents payments we made to Mr. Kandris in consideration of consulting services provided to
us in 2012 under a consulting agreement.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-indent: 0.5in">The following table sets forth summary
information concerning the compensation of our (i)&nbsp;Chief Executive Officer and President, who serves as our principal executive
officer, (ii)&nbsp;Chief Financial Officer, who serves as our principal financial officer, and (iii)&nbsp;Vice President, General
Counsel and Secretary (collectively, the &ldquo;named executive officers&rdquo;), for all services rendered in all capacities to
us for the years ended December 31, 2012 and 2011.</P>

<!-- Field: Page; Sequence: 62; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 6pt -22pt; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Name and<BR> Principal Position</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Salary<BR> ($)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Bonus<BR> ($)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><B>Stock</B><BR> <B>Awards</B><BR> <B>($)<SUP>(1)</SUP></B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><B>Total</B><BR> <B>($)<SUP>(2)</SUP></B></P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 35%; text-align: left">Neil M. Koehler</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center">2012</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">384,375</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">40,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">424,375</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 11pt">Chief Executive Officer and President</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">381,900</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">86,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">468,100</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Bryon T. McGregor</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">246,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">23,370</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">269,370</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt">Chief Financial Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">244,400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">28,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">272,900</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Christopher W. Wright</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">246,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">23,370</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">269,370</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 11pt">Vice President, General Counsel and Secretary</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">244,400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">28,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">272,900</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 6pt -22pt; text-indent: 0.5in"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(1)</TD><TD>The amounts shown are the fair value of stock awards on the date of grant. Fair value of stock awards is calculated by multiplying
the number of shares of stock granted by the closing price of our common stock on the date of grant. The shares of common stock
were issued under our 2006 Plan. Information regarding the vesting schedules for the named executive officers is included in the
footnotes to the &ldquo;Outstanding Equity Awards at Fiscal Year-End&minus;2012&rdquo; table below.<FONT STYLE="font-family: Times New Roman, Times, Serif; color: black">
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(2)</TD><TD>The value of perquisites and other personal benefits was less than $10,000 in aggregate for each of the named executive officers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Executive Employment Agreements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in"><B><I>Neil M. Koehler</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our Amended and Restated Executive Employment
Agreement with Mr. Koehler dated as of December 11, 2007 provides for at-will employment as our President and Chief Executive Officer.
Mr. Koehler initially received a base salary of $300,000 per year, which was increased to $375,000 effective March 1, 2008 and
further increased to $384,375 effective April 3, 2011, and is eligible to receive an annual discretionary cash bonus of up to 70%
of his base salary, to be paid based upon performance criteria set by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Upon termination by Pacific Ethanol without
cause, resignation by Mr. Koehler for good reason or upon Mr. Koehler&rsquo;s disability, Mr. Koehler is entitled to receive (i)
severance equal to twelve months of base salary, (ii) continued health insurance coverage for twelve months, and (iii) accelerated
vesting of 25% of all shares or options subject to any equity awards granted to Mr. Koehler prior to Mr. Koehler&rsquo;s termination
which are unvested as of the date of termination. However, if Mr. Koehler is terminated without cause or resigns for good reason
within three months before or twelve months after a change in control, Mr. Koehler is entitled to (a) severance equal to eighteen
months of base salary, (b) continued health insurance coverage for eighteen months, and (c) accelerated vesting of 100% of all
shares or options subject to any equity awards granted to Mr. Koehler prior to Mr. Koehler&rsquo;s termination that are unvested
as of the date of termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The term &ldquo;for good reason&rdquo;
is defined in the Amended and Restated Executive Employment Agreement as (i) the assignment to Mr. Koehler of any duties or responsibilities
that result in the material diminution of Mr. Koehler&rsquo;s authority, duties or responsibility, (ii) a material reduction by
Pacific Ethanol in Mr. Koehler&rsquo;s annual base salary, except to the extent the base salaries of all other executive officers
of Pacific Ethanol are accordingly reduced, (iii) a relocation of Mr. Koehler&rsquo;s place of work, or Pacific Ethanol&rsquo;s
principal executive offices if Mr. Koehler&rsquo;s principal office is at these offices, to a location that increases Mr. Koehler&rsquo;s
daily one-way commute by more than thirty-five miles, or (iv) any material breach by Pacific Ethanol of any material provision
of the Amended and Restated Executive Employment Agreement.</P>

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

<!-- Field: Page; Sequence: 63; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">The term &ldquo;cause&rdquo; is defined
in the Amended and Restated Executive Employment Agreement as (i) Mr. Koehler&rsquo;s indictment or conviction of any felony or
of any crime involving dishonesty, (ii) Mr. Koehler&rsquo;s participation in any fraud or other act of willful misconduct against
Pacific Ethanol, (iii) Mr. Koehler&rsquo;s refusal to comply with any lawful directive of Pacific Ethanol, (iv) Mr. Koehler&rsquo;s
material breach of his fiduciary, statutory, contractual, or common law duties to Pacific Ethanol, or (v) conduct by Mr. Koehler
which, in the good faith and reasonable determination of the Board, demonstrates gross unfitness to serve; provided, however, that
in the event that any of the foregoing events is reasonably capable of being cured, Pacific Ethanol shall, within twenty days after
the discovery of the event, provide written notice to Mr. Koehler describing the nature of the event and Mr. Koehler shall thereafter
have ten business days to cure the event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">A &ldquo;change in control&rdquo; of
Pacific Ethanol is deemed to have occurred if, in a single transaction or series of related transactions (i) any person (as the
term is used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, or Exchange Act), or persons acting as a group,
other than a trustee or fiduciary holding securities under an employee benefit program, is or becomes a &ldquo;beneficial owner&rdquo;
(as defined in Rule 13-3 under the Exchange Act), directly or indirectly of securities of Pacific Ethanol representing a majority
of the combined voting power of Pacific Ethanol, (ii) there is a merger, consolidation or other business combination transaction
of Pacific Ethanol with or into another corporation, entity or person, other than a transaction in which the holders of at least
a majority of the shares of voting capital stock of Pacific Ethanol outstanding immediately prior to the transaction continue to
hold (either by the shares remaining outstanding or by their being converted into shares of voting capital stock of the surviving
entity) a majority of the total voting power represented by the shares of voting capital stock of Pacific Ethanol (or the surviving
entity) outstanding immediately after the transaction, or (iii) all or substantially all of our assets are sold.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our Amended and Restated Executive Employment
Agreement with Mr. McGregor effective as of November 25, 2009 provides for at-will employment as our Chief Financial Officer. Mr.
McGregor initially received a base salary of $240,000 per year, which was increased to $246,000 effective April 3, 2011, and is
eligible to receive an annual discretionary cash bonus of up to 50% of his base salary, to be paid based upon performance criteria
set by the Board. All other terms and conditions of Mr. McGregor&rsquo;s Amended and Restated Executive Employment Agreement are
substantially the same as those contained in Mr. Koehler&rsquo;s Amended and Restated Executive Employment Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our Amended and Restated Executive Employment
Agreement with Mr. Wright dated as of December 11, 2007 provides for at-will employment as our Vice President, General Counsel
and Secretary. Mr. Wright initially received a base salary of $225,000 per year, which was increased to $240,000 effective March
1, 2008 and further increased to $246,000 effective April 3, 2011, and is eligible to receive an annual discretionary cash bonus
of up to 50% of his base salary, to be paid based upon performance criteria set by the Board. All other terms and conditions of
Mr. Wright&rsquo;s Amended and Restated Executive Employment Agreement are substantially the same as those contained in Mr. Koehler&rsquo;s
Amended and Restated Executive Employment Agreement.</P>

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

<!-- Field: Page; Sequence: 64; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in"><B><I>Michael Kandris</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our Executive Employment Agreement with
Mr. Kandris dated as of January 6, 2013 provides for at-will employment as our Chief Operating Officer. Mr. Kandris&rsquo; base
salary is $246,000 per year and he is eligible to receive an annual discretionary cash bonus of up to 50% of his base salary, to
be paid based upon performance criteria set by the Board. All other terms and conditions of Mr. Kandris&rsquo;s Executive Employment
Agreement are substantially the same as those contained in Mr. Koehler&rsquo;s Amended and Restated Executive Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Clawback Policy</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In 2011, our Compensation Committee instituted
a &ldquo;clawback&rdquo; policy with respect to incentive compensation. Except as otherwise required by applicable law and regulations,
the clawback policy applies to any incentive-based compensation awarded or paid after January 1, 2011. The clawback policy mitigates
the risks associated with our compensation policies, because certain executive officers will be required to repay compensation
in the circumstances identified in the policy. The clawback policy requires recoupment of the incentive based compensation paid
or granted to certain executive officers in the event of a material noncompliance with any financial reporting requirements under
the federal securities laws (other than to comply with changes in applicable accounting principles).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our Compensation Committee will reevaluate
and, if necessary, revise our clawback policy to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act once
the rules implementing the clawback requirements have been finalized by the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Outstanding Equity Awards at Fiscal Year-End &ndash; 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The following table sets forth information
about outstanding equity awards held by our named executive officers as of December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in">&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; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD COLSPAN="8" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Option Awards</B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD COLSPAN="5" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stock Awards</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid"><B>Number of Securities Underlying Unexercised Options (#) Exercisable</B></P></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid"><B>Number of Securities Underlying Unexercised Options (#) Unexercisable</B></P></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid"><B>Option Exercise Price ($)</B></P>

</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt; border-bottom: Black 1pt solid">Option Expiration Date</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid"><B>Number of Shares or Units of Stock That Have Not Vested (#)</B><SUP>(1)</SUP></P></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid"><B>Market Value of Shares<BR> or Units of Stock That Have Not Vested($)<SUP>(2)</SUP></B></P>

</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 22%; text-align: left">Neil M. Koehler</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">18,750</TD><TD STYLE="width: 1%; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">37,500</TD><TD STYLE="width: 1%; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">0.86</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: center">8/1/2021</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;42,856</FONT></TD><TD STYLE="width: 1%; text-align: left"><SUP>(4)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">13,714</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></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: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,571</TD><TD STYLE="text-align: left"><SUP>(5)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">17,143</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Bryon T. McGregor</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,571</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,143</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.86</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">8/1/2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,000</TD><TD STYLE="text-align: left"><SUP>(7)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,840</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,000</TD><TD STYLE="text-align: left"><SUP>(8)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,800</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></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: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></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(238,238,238)">
    <TD STYLE="text-align: left">Christopher W. Wright</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,571</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,143</TD><TD STYLE="text-align: left"><SUP>(6)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.86</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">8/1/2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,000</TD><TD STYLE="text-align: left"><SUP>(7)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,840</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></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: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,000</TD><TD STYLE="text-align: left"><SUP>(8)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,800</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 0">_______________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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>The stock awards reported in the above table represent shares of restricted stock and stock options granted under our 2006
Stock Incentive Plan.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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>Represents the fair market value per share of our common stock on December 31, 2012, which was $0.32, multiplied by the number
of shares that had not vested as of that date.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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>Represents stock options granted on August 1, 2011. The option vested as to 18,750 shares on April 1, 2012 and will vest as
to 18,750 shares on each of April 1, 2013 and 2014.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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>Represents shares granted on October 20, 2010. Mr. Koehler&rsquo;s grant vests as to 21,428 shares on each of October 4, 2013
and 2014.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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>Represents shares granted on August 1, 2011. Mr. Koehler&rsquo;s grant vests as to 17,857 shares on each of April 1, 2013,
2014 and 2015.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(6)</TD><TD>Represents stock options granted on August 1, 2011. The option vested as to 8,571 shares on April 1, 2012 and will vest as
to 8,571 shares on April 1, 2013 and as to 8,572 shares on April 1, 2014.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(7)</TD><TD>Represents shares granted on October 20, 2010. The grant vests as to 6,000 shares on each of October 4, 2013 and 2014.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(8)</TD><TD>Represents shares granted on August 1, 2011. The grant vests as to 5,000 shares on each of April 1, 2013, 2014 and 2015.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 65; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>2006 Stock Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In 2006, our Board adopted and our stockholders
ratified and approved the adoption of our 2006 Plan. On March 5, 2010, our Board approved an increase in the number of shares of
common stock authorized for issuance under our 2006 Plan from 285,714 shares to 857,142 shares. Our stockholders approved the amendment
to the 2006 Plan on June 3, 2010. Effective October 20, 2010, our Board approved amendments to our 2006 Plan to (i) increase the
limit on annual awards to any plan participant from 250,000 shares to 1,000,000 shares, and (ii) eliminate the authority of the
plan administrator to reduce the exercise or base price of one or more outstanding stock options or stock appreciation rights.
These amendments did not require stockholder approval. On March 25, 2011, our Board approved a further increase in the number of
shares of common stock authorized for issuance under our 2006 Plan from 857,142 to 1,214,285 shares. Our stockholders approved
the amendment to the 2006 Plan on May 19, 2011. Effective April 2, 2012, our Board approved a further increase in the number of
shares of common stock authorized for issuance under our 2006 Plan from 1,214,285 to 6,214,285 shares. Our stockholders approved
the amendment to the 2006 Plan on December 13, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The 2006 Plan is intended to promote
our interests by providing eligible persons in our service with the opportunity to acquire a proprietary or economic interest,
or otherwise increase their proprietary or economic interest, in Pacific Ethanol as an incentive for them to remain in service
and render superior performance during their service. The 2006 Plan consists of two equity-based incentive programs, the Discretionary
Grant Program and the Stock Issuance Program. Principal features of each program are summarized below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">A total of 6,214,285 shares of common
stock are authorized for issuance under the 2006 Plan. As of the date of this prospectus, equity awards totaling 3,468,826 shares
of common stock, net of forfeitures and shares withheld to satisfy tax withholding obligations, have been issued under the 2006
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The following is a summary of the principal
features of our 2006 Plan as amended to reflect the recent amendment. The summary does not purport to be a complete description
of all provisions of our 2006 Plan and is qualified in its entirety by the text of the 2006 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Administration</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Compensation Committee of our Board
has the exclusive authority to administer the Discretionary Grant and Stock Issuance Programs with respect to option grants, restricted
stock awards, restricted stock units, stock appreciation rights, direct stock issuances and other stock-based awards (&ldquo;equity
awards&rdquo;) made to executive officers and non-employee Board members, and also has the authority to make equity awards under
those programs to all other eligible individuals. However, the Board may retain, reassume or exercise from time to time the power
to administer those programs. Equity awards made to members of the Compensation Committee must be authorized and approved by a
disinterested majority of the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The term &ldquo;plan administrator,&rdquo;
as used in this summary, means the Compensation Committee or the Board, to the extent either entity is acting within the scope
of its administrative jurisdiction under the 2006 Plan.</P>

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

<!-- Field: Page; Sequence: 66; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>Share Reserve</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">An aggregate of 6,214,285 shares of common
stock are authorized for issuance under the 2006 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">No participant in the 2006 Plan may be
granted equity awards for more than 1,000,000 shares of common stock per calendar year. Prior stockholder approval constituted
approval of the 1,000,000 share limitation for purposes of Code Section 162(m). This share limitation is intended to assure that
any deductions to which we would otherwise be entitled, either upon the exercise of stock options or stock appreciation rights
granted under the Discretionary Grant Program with an exercise price per share equal to the fair market value per share of our
common stock on the grant date or upon the subsequent sale of the shares purchased under those options, will not be subject to
the $1,000,000 limitation on the income tax deductibility of compensation paid per covered executive officer imposed under Code
Section 162(m). In addition, shares issued under the Stock Issuance Program may qualify as performance-based compensation that
is not subject to the Code Section 162(m) limitation, if the issuance of those shares is approved by the Compensation Committee
and the vesting is tied solely to the attainment of the corporate performance milestones discussed below in the summary description
of that program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The shares of common stock issuable under
the 2006 Plan may be drawn from shares of our authorized but unissued shares or from shares reacquired by us, including shares
repurchased on the open market. Shares subject to any outstanding equity awards under the 2006 Plan that expire or otherwise terminate
before those shares are issued will be available for subsequent awards. Unvested shares issued under the 2006 Plan and subsequently
repurchased by us at the option exercise or direct issue price paid per share, under our repurchase rights under the 2006 Plan,
will be added back to the number of shares reserved for issuance under the 2006 Plan and will be available for subsequent reissuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">If the exercise price of an option under
the 2006 Plan is paid with shares of common stock, then the authorized reserve of common stock under the 2006 Plan will be reduced
only by the net number of new shares issued under the exercised stock option. If shares of common stock otherwise issuable under
the 2006 Plan are withheld in satisfaction of the withholding taxes incurred in connection with the issuance, exercise or vesting
of an equity award, then the number of shares of common stock available for issuance under the 2006 Plan will be reduced only by
the net number of shares issued under that equity award. The withheld shares will not reduce the share reserve. Upon the exercise
of any stock appreciation right granted under the 2006 Plan, the share reserve will only be reduced by the net number of shares
actually issued upon exercise, and not by the gross number of shares as to which the stock appreciation right is exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We have registered the issuance of all
of the shares of common stock authorized for issuance under our 2006 Plan on form S-8 under the Securities Act of 1933, or Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Eligibility</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Officers, employees, non-employee directors,
and consultants and independent advisors who are under written contract and whose securities issued under the 2006 Plan could be
registered on Form S-8, all of whom are in our service or the service of any parent or subsidiary of ours, whether now existing
or subsequently established, are eligible to participate in the Discretionary Grant and Stock Issuance Programs.</P>

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

<!-- Field: Page; Sequence: 67; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">As of February 6, 2013, four executive
officers, approximately 168 other employees, five non-executive officer members of our Board and an indeterminate number of consultants
and advisors were eligible to participate in the 2006 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Valuation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The fair market value per share of our
common stock on any relevant date under the 2006 Plan will be deemed to be equal to the closing price per share of our common stock
at the close of regular trading hours on that date on The NASDAQ Capital Market (or any other primary successor exchange or market
on which our securities are listed or traded). If there is no closing price for our common stock on the date in question, the fair
market value will be the closing price on the last preceding date for which a quotation exists. On February 6, 2013, the fair market
value determined on that basis was $0.38 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Discretionary Grant Program</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The plan administrator has complete discretion
under the Discretionary Grant Program to determine which eligible individuals are to receive equity awards under that program,
the time or times when those equity awards are to be made, the number of shares subject to each award, the time or times when each
equity award is to vest and become exercisable, the maximum term for which the equity award is to remain outstanding and the status
of any granted option as either an incentive stock option or a non-statutory option under the federal tax laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Stock Options.</I> Each granted option
will have an exercise price per share determined by the plan administrator, provided that the exercise price will not be less than
85% or 100% of the fair market value of a share on the grant date in the case of non-statutory or incentive options, respectively.
No granted option will have a term in excess of ten years. Incentive options granted to an employee who beneficially owns more
than 10% of our outstanding common stock must have exercise prices not less than 110% of the fair market value of a share on the
grant date and a term of not more than five years measured from the grant date. Options generally will become exercisable in one
or more installments over a specified period of service measured from the grant date. However, options may be structured so that
they will be immediately exercisable for any or all of the option shares. Any unvested shares acquired under immediately exercisable
options will be subject to repurchase, at the exercise price paid per share, if the optionee ceases service with us prior to vesting
in those shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">An optionee who ceases service with us
other than due to misconduct will have a limited time within which to exercise outstanding options for any shares for which those
options are vested and exercisable at the time of cessation of service. The plan administrator has complete discretion to extend
the period following the optionee&rsquo;s cessation of service during which outstanding options may be exercised (but not beyond
the expiration date) and/or to accelerate the exercisability or vesting of options in whole or in part. Discretion may be exercised
at any time while the options remain outstanding, whether before or after the optionee&rsquo;s actual cessation of service.</P>

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

<!-- Field: Page; Sequence: 68; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in"><I>Stock Appreciation Rights.</I> The
plan administrator has the authority to issue the following three types of stock appreciation rights under the Discretionary Grant
Program:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Tandem stock appreciation rights, which
provide the holders with the right, upon approval of the plan administrator, to surrender their options for an appreciation distribution
in an amount equal to the excess of the fair market value of the vested shares of common stock subject to the surrendered option
over the aggregate exercise price payable for those shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Standalone stock appreciation rights,
which allow the holders to exercise those rights as to a specific number of shares of common stock and receive in exchange an appreciation
distribution in an amount equal to the excess of the fair market value on the exercise date of the shares of common stock as to
which those rights are exercised over the aggregate base price in effect for those shares. The base price per share may not be
less than the fair market value per share of the common stock on the date the standalone stock appreciation right is granted, and
the right may not have a term in excess of ten years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Limited stock appreciation rights, which
may be included in one or more option grants made under the Discretionary Grant Program to executive officers or directors who
are subject to the short-swing profit liability provisions of Section 16 of the Exchange Act. Upon the successful completion of
a hostile takeover for more than 50% of our outstanding voting securities or a change in a majority of our Board as a result of
one or more contested elections for Board membership over a period of up to 36 consecutive months, each outstanding option with
a limited stock appreciation right may be surrendered in return for a cash distribution per surrendered option share equal to the
excess of the fair market value per share at the time the option is surrendered or, if greater and the option is a non-statutory
option, the highest price paid per share in the transaction, over the exercise price payable per share under the option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Payments with respect to exercised tandem
or standalone stock appreciation rights may, at the discretion of the plan administrator, be made in cash or in shares of common
stock. All payments with respect to exercised limited stock appreciation rights will be made in cash. Upon cessation of service
with us, the holder of one or more stock appreciation rights will have a limited period within which to exercise those rights as
to any shares as to which those stock appreciation rights are vested and exercisable at the time of cessation of service. The plan
administrator will have complete discretion to extend the period following the holder&rsquo;s cessation of service during which
his or her outstanding stock appreciation rights may be exercised and/or to accelerate the exercisability or vesting of the stock
appreciation rights in whole or in part. Discretion may be exercised at any time while the stock appreciation rights remain outstanding,
whether before or after the holder&rsquo;s actual cessation of service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Exchange Program.</I> The plan administrator
has the authority, with the consent of the affected holders, to effect the cancellation of any or all outstanding options or stock
appreciation rights under the Discretionary Grant Program and to grant in exchange one or more of the following: (i) new options
or stock appreciation rights covering the same or a different number of shares of common stock but with an exercise or base price
per share not less than the fair market value per share of common stock on the new grant date, or (ii) cash or shares of common
stock, whether vested or unvested, equal in value to the value of the cancelled options or stock appreciation rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Stock Issuance Program</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Shares of common stock may be issued
under the Stock Issuance Program for valid consideration under the Delaware General Corporation Law as the plan administrator deems
appropriate, including cash, past services or other property. In addition, restricted shares of common stock may be issued under
restricted stock awards that vest in one or more installments over the recipient&rsquo;s period of service or upon attainment of
specified performance objectives. Shares of common stock may also be issued under the program under restricted stock units or other
stock-based awards that entitle the recipients to receive the shares underlying those awards upon the attainment of designated
performance goals, the satisfaction of specified service requirements and/or upon the expiration of a designated time period following
the vesting of those awards or units, including a deferred distribution date following the termination of the recipient&rsquo;s
service with us.</P>

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

<!-- Field: Page; Sequence: 69; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">The plan administrator will have complete
discretion under the Stock Issuance Program to determine which eligible individuals are to receive equity awards under the program,
the time or times when those equity awards are to be made, the number of shares subject to each equity award, the vesting schedule
to be in effect for the equity award and the consideration, if any, payable per share. The shares issued under an equity award
may be fully vested upon issuance or may vest upon the completion of a designated service period and/or the attainment of pre-established
performance goals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">To assure that the compensation attributable
to one or more equity awards under the Stock Issuance Program will qualify as performance-based compensation that will not be subject
to the $1,000,000 limitation on the income tax deductibility of the compensation paid per covered executive officer imposed under
Code Section 162(m), the Compensation Committee will also have the discretionary authority to structure one or more equity awards
under the Stock Issuance Program so that the shares subject to those particular awards will vest only upon the achievement of pre-established
corporate performance goals. Goals may be based on one or more of the following criteria: (i) return on total stockholders&rsquo;
equity; (ii) net income per share; (iii) net income or operating income; (iv) earnings before interest, taxes, depreciation, amortization
and stock-based compensation costs, or operating income before depreciation and amortization; (v) sales or revenue targets; (vi)
return on assets, capital or investment; (vii) cash flow; (viii) market share; (ix) cost reduction goals; (x) budget comparisons;
(xi) implementation or completion of projects or processes strategic or critical to our business operations; (xii) measures of
customer satisfaction; (xiii) any combination of, or a specified increase in, any of the foregoing; and (xiv) the formation of
joint ventures, research and development collaborations, marketing or customer service collaborations, or the completion of other
corporate transactions intended to enhance our revenue or profitability or expand our customer base; provided, however, that for
purposes of items (ii), (iii) and (vii) above, the Compensation Committee may, at the time the equity awards are made, specify
adjustments to those items as reported in accordance with United States generally accepted accounting principles, or GAAP, which
will exclude from the calculation of those performance goals one or more of the following: charges related to acquisitions, stock-based
compensation, employer payroll tax expense on stock option exercises, settlement costs, restructuring costs, gains or losses on
strategic investments, non-operating gains, other non-cash charges, valuation allowance on deferred tax assets, and the related
income tax effects, purchases of property and equipment, and any extraordinary non-recurring items as described in Accounting Principles
Board Opinion No. 30 or its successor, provided that those adjustments are in conformity with those reported by us on a non-GAAP
basis. In addition, performance goals may be based upon the attainment of specified levels of our performance under one or more
of the measures described above relative to the performance of other entities and may also be based on the performance of any of
our business groups or divisions thereof or any parent or subsidiary. Performance goals may include a minimum threshold level of
performance below which no award will be earned, levels of performance at which specified portions of an award will be earned,
and a maximum level of performance at which an award will be fully earned. The Compensation Committee may provide that, if the
actual level of attainment for any performance objective is between two specified levels, the amount of the award attributable
to that performance objective shall be interpolated on a straight-line basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The plan administrator will have the
discretionary authority at any time to accelerate the vesting of any and all shares of restricted stock or other unvested shares
outstanding under the Stock Issuance Program. However, no vesting requirements tied to the attainment of performance objectives
may be waived with respect to shares that were intended at the time of issuance to qualify as performance-based compensation under
Code Section 162(m), except in the event of specified involuntary terminations or changes in control or ownership.</P>

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

<!-- Field: Page; Sequence: 70; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">Outstanding restricted stock units or
other stock-based awards under the Stock Issuance Program will automatically terminate, and no shares of common stock will actually
be issued in satisfaction of those awards, if the performance goals or service requirements established for those awards are not
attained. The plan administrator, however, will have the discretionary authority to issue shares of common stock in satisfaction
of one or more outstanding restricted stock units or other stock-based awards as to which the designated performance goals or service
requirements are not attained. However, no vesting requirements tied to the attainment of performance objectives may be waived
with respect to awards that were intended at the time of issuance to qualify as performance-based compensation under Code Section
162(m), except in the event of specified involuntary terminations or changes in control or ownership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>General Provisions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Acceleration</I>. If a change in control
occurs, each outstanding equity award under the Discretionary Grant Program will automatically accelerate in full, unless (i) that
award is assumed by the successor corporation or otherwise continued in effect, (ii) the award is replaced with a cash retention
program that preserves the spread existing on the unvested shares subject to that equity award (the excess of the fair market value
of those shares over the exercise or base price in effect for the shares) and provides for subsequent payout of that spread in
accordance with the same vesting schedule in effect for those shares, or (iii) the acceleration of the award is subject to other
limitations imposed by the plan administrator. In addition, all unvested shares outstanding under the Discretionary Grant and Stock
Issuance Programs will immediately vest upon the change in control, except to the extent our repurchase rights with respect to
those shares are to be assigned to the successor corporation or otherwise continued in effect or accelerated vesting is precluded
by other limitations imposed by the plan administrator. Each outstanding equity award under the Stock Issuance Program will vest
as to the number of shares of common stock subject to that award immediately prior to the change in control, unless that equity
award is assumed by the successor corporation or otherwise continued in effect or replaced with a cash retention program similar
to the program described in clause (ii) above or unless vesting is precluded by its terms. Immediately following a change in control,
all outstanding awards under the Discretionary Grant Program will terminate and cease to be outstanding except to the extent assumed
by the successor corporation or its parent or otherwise expressly continued in full force and effect under the terms of the change
in control transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The plan administrator will have the
discretion to structure one or more equity awards under the Discretionary Grant and Stock Issuance Programs so that those equity
awards will vest in full either immediately upon a change in control or in the event the individual&rsquo;s service with us or
the successor entity is terminated (actually or constructively) within a designated period following a change in control transaction,
whether or not those equity awards are to be assumed or otherwise continued in effect or replaced with a cash retention program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">A change in control will be deemed to
have occurred if, in a single transaction or series of related transactions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(i)&#9;any person (as that term is used
in Section 13(d) and 14(d) of the Exchange Act), or persons acting as a group, other than a trustee or fiduciary holding securities
under an employment benefit program, is or becomes a beneficial owner (as defined in Rule 13-3 under the Exchange Act), directly
or indirectly of securities representing 51% or more of the combined voting power of our company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(ii)&#9;there is a merger, consolidation,
or other business combination transaction of us with or into another corporation, entity or person, other than a transaction in
which the holders of at least a majority of the shares of our voting capital stock outstanding immediately prior to the transaction
continue to hold (either by the shares remaining outstanding or by their being converted into shares of voting capital stock of
the surviving entity) a majority of the total voting power represented by the shares of voting capital stock of our company (or
the surviving entity) outstanding immediately after the transaction; or</P>

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

<!-- Field: Page; Sequence: 71; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">(iii)&#9;all or substantially all of
our assets are sold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Stockholder Rights and Option Transferability.</I>
The holder of an option or stock appreciation right will have no stockholder rights with respect to the shares subject to that
option or stock appreciation right unless and until the holder exercises the option or stock appreciation right and becomes a holder
of record of shares of common stock distributed upon exercise of the award. Incentive options are not assignable or transferable
other than by will or the laws of inheritance following the optionee&rsquo;s death, and during the optionee&rsquo;s lifetime, may
only be exercised by the optionee. However, non-statutory options and stock appreciation rights may be transferred or assigned
during the holder&rsquo;s lifetime to one or more members of the holder&rsquo;s family or to a trust established for the benefit
of the holder and/or one or more family members or to the holder&rsquo;s former spouse, to the extent the transfer is in connection
with the holder&rsquo;s estate plan or under a domestic relations order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">A participant will have a number of rights
with respect to shares of common stock issued to the participant under the Stock Issuance Program, whether or not the participant&rsquo;s
interest in those shares is vested. Accordingly, the participant will have the right to vote the shares and to receive any regular
cash dividends paid on the shares, but will not have the right to transfer the shares prior to vesting. A participant will not
have any stockholder rights with respect to the shares of common stock subject to restricted stock units or other stock-based awards
until the awards vest and the shares of common stock are actually issued. However, dividend-equivalent units may be paid or credited,
either in cash or in actual or phantom shares of common stock, on outstanding restricted stock units or other stock-based awards,
subject to terms and conditions the plan administrator deems appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Changes in Capitalization.</I> If
any change is made to the outstanding shares of common stock by reason of any recapitalization, stock dividend, stock split, combination
of shares, exchange of shares or other change in corporate structure effected without our receipt of consideration, appropriate
adjustments will be made to (i) the maximum number and/or class of securities issuable under the 2006 Plan, (ii) the maximum number
and/or class of securities for which any one person may be granted equity awards under the 2006 Plan per calendar year, (iii) the
number and/or class of securities and the exercise price or base price per share in effect under each outstanding option or stock
appreciation right, and (iv) the number and/or class of securities subject to each outstanding restricted stock unit or other stock-based
award under the 2006 Plan and the cash consideration, if any, payable per share. All adjustments will be designed to preclude any
dilution or enlargement of benefits under the 2006 Plan and the outstanding equity awards thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Special Tax Election.</I> Subject
to applicable laws, rules and regulations, the plan administrator may permit any or all holders of equity awards to utilize any
or all of the following methods to satisfy all or part of the federal and state income and employment withholding taxes to which
they may become subject in connection with the issuance, exercise or vesting of those equity awards:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in"><I>Stock Withholding</I>: The election to have us withhold,
from the shares otherwise issuable upon the issuance, exercise or vesting of an equity award, a portion of those shares with an
aggregate fair market value equal to the percentage of the withholding taxes (not to exceed 100%) designated by the holder and
make a cash payment equal to the fair market value directly to the appropriate taxing authorities on the individual&rsquo;s behalf.</P>

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

<!-- Field: Page; Sequence: 72; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in"><I>Stock Delivery</I>: The election to deliver to us
shares of common stock previously acquired by the holder (other than in connection with the issuance, exercise or vesting that
triggered the withholding taxes) with an <I>aggregate</I> fair market value equal to the percentage of the withholding taxes (not
to exceed 100%) designated by the holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in"><I>Sale and Remittance</I>: The election to deliver
to us, to the extent the award is issued or exercised for vested shares, through a special sale and remittance procedure under
which the optionee or participant will <I>concurrently</I> provide irrevocable instructions to a brokerage firm to effect the immediate
sale of the purchased or issued shares and remit to us, out of the sale proceeds available on the settlement date, sufficient funds
to cover the withholding taxes we are required to withhold by reason of the issuance, exercise or vesting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Amendment, Suspension and Termination</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our Board may suspend or terminate the
2006 Plan at any time. Our Board may amend or modify the 2006 Plan, subject to any required stockholder approval. Stockholder approval
will be required for any amendment that materially increases the number of shares available for issuance under the 2006 Plan, materially
expands the class of individuals eligible to receive equity awards under the 2006 Plan, materially increases the benefits accruing
to optionees and other participants under the 2006 Plan or materially reduces the price at which shares of common stock may be
issued or purchased under the 2006 Plan, materially extends the term of the 2006 Plan, expands the types of awards available for
issuance under the 2006 Plan, or as to which stockholder approval is required by applicable laws, rules or regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Unless sooner terminated by our Board,
the 2006 Plan will terminate on the earliest to occur of: July 19, 2016; the date on which all shares available for issuance under
the 2006 Plan have been issued as fully-vested shares; and the termination of all outstanding equity awards upon specified changes
in control or ownership. If the 2006 Plan terminates on July 19, 2016, then all equity awards outstanding at that time will continue
to have force and effect in accordance with the provisions of the documents evidencing those awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Federal Income Tax Consequences</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The following discussion summarizes income
tax consequences of the 2006 Plan under current federal income tax law and is intended for general information only. In addition,
the tax consequences described below are subject to the limitations of Code Section 162(m), as discussed in further detail below.
Other federal taxes and foreign, state and local income taxes are not discussed, and may vary depending upon individual circumstances
and from locality to locality.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Option Grants</I>. Options granted
under the 2006 Plan may be either incentive stock options, which satisfy the requirements of Code Section 422, or non-statutory
stock options, which are not intended to meet those requirements. The federal income tax treatment for the two types of options
differs as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Incentive Stock Options.</I> No taxable
income is recognized by the optionee at the time of the option grant, and, if there is no disqualifying disposition at the time
of exercise, no taxable income is recognized for regular tax purposes at the time the option is exercised, although taxable income
may arise at that time for alternative minimum tax purposes equal to the excess of the fair market value of the purchased shares
at the time over the exercise price paid for those shares.</P>

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

<!-- Field: Page; Sequence: 73; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">The optionee will recognize taxable income
in the year in which the purchased shares are sold or otherwise made the subject of some dispositions. For federal tax purposes,
dispositions are divided into two categories: qualifying and disqualifying. A qualifying disposition occurs if the sale or other
disposition is made more than two years after the date the option for the shares involved in the sale or disposition was granted
and more than one year after the date the option was exercised for those shares. If either of these two requirements is not satisfied,
a disqualifying disposition will result.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Upon a qualifying disposition, the optionee
will recognize long-term capital gain in an amount equal to the excess of the amount realized upon the sale or other disposition
of the purchased shares over the exercise price paid for the shares. If there is a disqualifying disposition of the shares, the
excess of the fair market value of those shares on the exercise date over the exercise price paid for the shares will be taxable
as ordinary income to the optionee. Any additional gain or any loss recognized upon the disposition will be taxable as a capital
gain or capital loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">If the optionee makes a disqualifying
disposition of the purchased shares, we will be generally entitled to an income tax deduction, for our taxable year in which the
disposition occurs, equal to the excess of the fair market value of the shares on the option exercise date over the exercise price
paid for the shares. If the optionee makes a qualifying disposition, we will not be entitled to any income tax deduction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Non-Statutory Stock Options.</I> No
taxable income is generally recognized by an optionee upon the grant of a non-statutory option. The optionee will, in general,
recognize ordinary income, in the year in which the option is exercised, equal to the excess of the fair market value of the purchased
shares on the exercise date over the exercise price paid for the shares, and we will be required to collect withholding taxes applicable
to the income from the optionee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We will generally be entitled to an income
tax deduction equal to the amount of any ordinary income recognized by the optionee with respect to an exercised non-statutory
option. The deduction will in general be allowed for our taxable year in which the ordinary income is recognized by the optionee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">If the shares acquired upon exercise
of the non-statutory option are unvested and subject to repurchase in the event of the optionee&rsquo;s cessation of service prior
to vesting in those shares, the optionee will not recognize any taxable income at the time of exercise but will have to report
as ordinary income, as and when our repurchase right lapses, an amount equal to the excess of the fair market value of the shares
on the date the repurchase right lapses over the exercise price paid for the shares. The optionee may elect under Code Section
83(b) to include as ordinary income in the year of exercise of the option an amount equal to the excess of the fair market value
of the purchased shares on the exercise date over the exercise price paid for the shares. If a timely Code Section 83(b) election
is made, the optionee will not recognize any additional income as and when the repurchase right lapses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Stock Appreciation Rights.</I> No
taxable income is generally recognized upon receipt of a stock appreciation right. The holder will recognize ordinary income in
the year in which the stock appreciation right is exercised, in an amount equal to the excess of the fair market value of the underlying
shares of common stock on the exercise date over the base price in effect for the exercised right, and we will be required to collect
withholding taxes applicable to the income from the holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We will generally be entitled to an income
tax deduction equal to the amount of any ordinary income recognized by the holder in connection with the exercise of a stock appreciation
right. The deduction will in general be allowed for our taxable year in which the ordinary income is recognized by the holder.</P>

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

<!-- Field: Page; Sequence: 74; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in"><I>Direct Stock Issuances.</I> Stock
granted under the 2006 Plan may include issuances including unrestricted stock grants, restricted stock grants and restricted stock
units. The federal income tax treatment for the stock issuances is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Unrestricted Stock Grants</I>. The
holder will recognize ordinary income in the year in which shares are actually issued to the holder. The amount of that income
will be equal to the fair market value of the shares on the date of issuance, and we will be required to collect withholding taxes
applicable to the income from the holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We will be entitled to an income tax
deduction equal to the amount of ordinary income recognized by the holder at the time the shares are issued. The deduction will
in general be allowed for our taxable year in which the ordinary income is recognized by the holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Restricted Stock Grants</I>. No taxable
income is recognized upon receipt of stock that qualifies as performance-based compensation unless the recipient elects to have
the value of the stock (without consideration of any effect of the vesting conditions) included in income on the date of receipt.
The recipient may elect under Code Section 83(b) to include as ordinary income in the year the shares are actually issued an amount
equal to the fair market value of the shares. If a timely Code Section 83(b) election is made, the holder will not recognize any
additional income when the vesting conditions lapse and will not be entitled to a deduction in the event the stock is forfeited
as a result of failure to vest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">If the holder does not file an election
under Code Section 83(b), he will not recognize income until the shares vest. At that time, the holder will recognize ordinary
income in an amount equal to the fair market value of the shares on the date the shares vest. We will be required to collect withholding
taxes applicable to the income of the holder at that time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We will be entitled to an income tax
deduction equal to the amount of ordinary income recognized by the holder at the time the shares are issued, if the holder elects
to file an election under Code Section&nbsp;83(b), or we will be entitled to an income tax deduction at the time the vesting conditions
occur, if the holder does not elect to file an election under Code Section 83(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Restricted Stock Units</I>. No taxable
income is generally recognized upon receipt of a restricted stock unit award. The holder will recognize ordinary income in the
year in which the shares subject to that unit are actually issued to the holder. The amount of that income will be equal to the
fair market value of the shares on the date of issuance, and we will be required to collect withholding taxes applicable to the
income from the holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We will generally be entitled to an income
tax deduction equal to the amount of ordinary income recognized by the holder at the time the shares are issued. The deduction
will in general be allowed for our taxable year in which the ordinary income is recognized by the holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Section&nbsp;409A.</I>&nbsp;&nbsp;A
number of awards, including non-statutory stock options and stock appreciation rights granted with an exercise price that is less
than fair market value, and some restricted stock units, can be considered &ldquo;non-qualified deferred compensation&rdquo; and
subject to Code Section 409A. Awards that are subject to but do not meet the requirements of Code Section&nbsp;409A will result
in an additional 20% tax obligation, plus penalties and interest to the recipient, and may result in accelerated imposition of
income tax and the related withholding.</P>

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

<!-- Field: Page; Sequence: 75; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>Deductibility of Executive Compensation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We anticipate that any compensation deemed
paid by us in connection with disqualifying dispositions of incentive stock option shares or the exercise of non-statutory stock
options or stock appreciation rights with exercise prices or base prices equal to or greater than the fair market value of the
underlying shares on the grant date will qualify as performance-based compensation for purposes of Code Section 162(m) and will
not have to be taken into account for purposes of the $1,000,000 limitation per covered individual on the deductibility of the
compensation paid to some executive officers. Accordingly, all compensation deemed paid with respect to those options or stock
appreciation rights should remain deductible without limitation under Code Section 162(m). However, any compensation deemed paid
by us in connection with shares issued under the Stock Issuance Program will be subject to the $1,000,000 limitation on deductibility
per covered individual, except to the extent the vesting of those shares is based solely on one or more of the performance milestones
specified above in the summary of the terms of the Stock Issuance Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Accounting Treatment</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In accordance with accounting standards
established by the Financial Accounting Standards Board&rsquo;s Accounting Standards Codification Topic 718, <I>Stock Compensation</I>,
we are<FONT STYLE="font-size: 10pt; color: black"> </FONT>required to recognize all share-based payments, including grants of stock
options, restricted stock and restricted stock units, in our financial statements. Accordingly, stock options are valued at fair
value as of the grant date under an appropriate valuation formula, and that value will be charged as stock-based compensation expense
against our reported earnings over the designated vesting period of the award. For shares issuable upon the vesting of restricted
stock units that may be awarded under the 2006 Plan, we are required to expense over the vesting period a compensation cost equal
to the fair market value of the underlying shares on the date of the award. Restricted stock issued under the 2006 Plan results
in a direct charge to our reported earnings equal to the excess of the fair market value of those shares on the issuance date over
the cash consideration (if any) paid for the shares. If the shares are unvested at the time of issuance, then any charge to our
reported earnings is amortized over the vesting period. This accounting treatment for restricted stock units and restricted stock
issuances is applicable whether vesting is tied to service periods or performance criteria.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>New Plan Benefits</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">No additional awards under the 2006 Plan
are determinable at this time because awards under the 2006 Plan are discretionary and no specific additional awards have been
approved by the plan administrator beyond currently outstanding unvested restricted stock grants and outstanding stock options
in respect of 2,787,775 shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Other Arrangements Not Subject
to Stockholder Action</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Information regarding our equity compensation
plan arrangements that existed as of the end of 2012 is included in this prospectus under the heading &ldquo;Price Range of Common
Stock--Equity Compensation Plan Information.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Interests of Related Parties</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The 2006 Plan provides that our officers,
employees, non-employee directors, and some consultants and independent advisors will be eligible to receive awards under the 2006
Plan. As discussed above, we may be eligible in some circumstances to receive a tax deduction for some executive compensation resulting
from awards under the 2006 Plan that would otherwise be disallowed under Section 162(m).</P>

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

<!-- Field: Page; Sequence: 76; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>Possible Anti-Takeover Effects</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Although not intended as an anti-takeover
measure by our Board, one of the possible effects of the 2006 Plan could be to place additional shares, and to increase the percentage
of the total number of shares outstanding, or to place other incentive compensation, in the hands of the directors and officers
of Pacific Ethanol. Those persons may be viewed as part of, or friendly to, incumbent management and may, therefore, under some
circumstances be expected to make investment and voting decisions in response to a hostile takeover attempt that may serve to discourage
or render more difficult the accomplishment of the attempt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In addition, options or other incentive
compensation may, in the discretion of the plan administrator, contain a provision providing for the acceleration of the exercisability
of outstanding, but unexercisable, installments upon the first public announcement of a tender offer, merger, consolidation, sale
of all or substantially all of our assets, or other attempted changes in the control of Pacific Ethanol. In the opinion of our
Board, this acceleration provision merely ensures that optionees under the 2006 Plan will be able to exercise their options or
obtain their incentive compensation as intended by our Board and stockholders prior to any extraordinary corporate transaction
which might serve to limit or restrict that right. Our Board is, however, presently unaware of any threat of hostile takeover involving
Pacific Ethanol, Inc..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Indemnification of Directors and Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Section 145 of the Delaware General Corporation
Law permits a corporation to indemnify its directors and officers against expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred in connection with a pending or completed action, suit or proceeding if the officer or director
acted in good faith and in a manner the officer or director reasonably believed to be in the best interests of the corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in">Our certificate of incorporation provides
that, except in certain specified instances, our directors shall not be personally liable to us or our stockholders for monetary
damages for breach of their fiduciary duty as directors, except liability for the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any breach of their duty of loyalty to Pacific Ethanol or our stockholders;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">acts or omissions not in good faith or which involve intentional misconduct or a knowing violation
of law;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section
174 of the Delaware General Corporation Law; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any transaction from which the director derived an improper personal benefit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In addition, our certificate of incorporation
and bylaws obligate us to indemnify our directors and officers against expenses and other amounts reasonably incurred in connection
with any proceeding arising from the fact that such person is or was an agent of ours. Our bylaws also authorize us to purchase
and maintain insurance on behalf of any of our directors or officers against any liability asserted against that person in that
capacity, whether or not we would have the power to indemnify that person under the provisions of the Delaware General Corporation
Law. We have entered and expect to continue to enter into agreements to indemnify our directors and officers as determined by our
Board. These agreements provide for indemnification of related expenses including attorneys&rsquo; fees, judgments, fines and settlement
amounts incurred by any of these individuals in any action or proceeding. We believe that these bylaw provisions and indemnification
agreements are necessary to attract and retain qualified persons as directors and officers. We also maintain directors&rsquo; and
officers&rsquo; liability insurance.</P>

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

<!-- Field: Page; Sequence: 77; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">The limitation of liability and indemnification
provisions in our certificate of incorporation and bylaws may discourage stockholders from bringing a lawsuit against our directors
for breach of their fiduciary duty. They may also reduce the likelihood of derivative litigation against our directors and officers,
even though an action, if successful, might benefit us and other stockholders. Furthermore, a stockholder&rsquo;s investment may
be adversely affected to the extent that we pay the costs of settlement and damage awards against directors and officers as required
by these indemnification provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to our directors, officers and controlling persons under the foregoing provisions
of our certificate of incorporation or bylaws, or otherwise, we have been informed that in the opinion of the Securities and Exchange
Commission, this indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">Certain
Relationships and Related Transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Policies and Procedures for Approval of Related Party
Transactions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our Board has the responsibility to review
and discuss with management and approve, and has adopted written policies and procedures relating to approval or ratification of,
interested transactions with related parties. During this process, the material facts as to the related party&rsquo;s interest
in a transaction are disclosed to all Board members or the Audit Committee. Under the policies and procedures, the Board, through
the Audit Committee, is to review each interested transaction with a related party that requires approval and either approve or
disapprove of the entry into the interested transaction. An interested transaction is any transaction in which we are a participant
and in which any related party has or will have a direct or indirect interest. Transactions that are in the ordinary course of
business and would not require either disclosure required by Item 404(a) of Regulation S-K under the Securities Act or approval
of the Board or an independent committee of the Board as required by applicable NASDAQ rules would not be deemed interested transactions.
No director may participate in any approval of an interested transaction with respect to which he or she is a related party. Our
Board intends to approve only those related party transactions that are in the best interests of Pacific Ethanol and our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Other than as described below or elsewhere
in this Proxy Statement, since January 1, 2010, there has not been a transaction or series of related transactions to which Pacific
Ethanol was or is a party involving an amount in excess of $120,000 and in which any director, executive officer, holder of more
than 5% of any class of our voting securities, or any member of the immediate family of any of the foregoing persons, had or will
have a direct or indirect material interest. All of the below transactions were separately approved by our Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Certain Relationships and Related Transactions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Miscellaneous</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We are or have been a party to employment
and compensation arrangements with related parties, as more particularly described above in &ldquo;Management&mdash;Executive Employment
Agreements.&rdquo; We have entered into an indemnification agreement with each of our directors and executive officers. The indemnification
agreements and our certificate of incorporation and bylaws require us to indemnify our directors and officers to the fullest extent
permitted by Delaware law.</P>

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

<!-- Field: Page; Sequence: 78; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>Neil M. Koehler</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On May 20, 2008, we sold to Neil M. Koehler,
who is our President and Chief Executive Officer and one of our directors, 256,410 shares of our Series B Preferred Stock, all
of which were initially convertible into an aggregate of 109,890 shares of our common stock based on an initial preferred-to-common
conversion ratio of approximately 1-for-0.43, and warrants to purchase an aggregate of 54,945 shares of our common stock at an
exercise price of $49.00 per share, for an aggregate purchase price of $5,000,000. As a result of various anti-dilution adjustments,
the conversion ratio of the Series B Preferred Stock has declined to approximately 1-for-7.3. For each the years ended December
31, 2011, 2010 and 2009, we accrued cash dividends in the amount of $350,000 in respect of shares of Series B Preferred Stock held
by Mr. Koehler.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On August 21, 2012, we entered into an
agreement with Mr. Koehler under which $105,000 of the accrued and unpaid dividends in respect of shares of Series B Preferred
Stock held by Mr. Koehler were to be paid in shares of our common stock at a price per share of $0.31. We made such payment by
issuing an aggregate of 338,709 shares of common stock to Mr. Koehler on August 24, 2012. <B> </B>On December 26, 2012, we entered
into an agreement with Mr. Koehler under which $105,000 of the accrued and unpaid dividends in respect of shares of Series B Preferred
Stock held by Mr. Koehler were to be paid in shares of our common stock at a price per share of $0.34. We made such payment by
issuing an aggregate of 311,301 shares of common stock to Mr. Koehler on December 31, 2012. As of December 31, 2012, in aggregate,
dividends totaling $840,000 have not been paid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On March 30, 2009, we entered into an
unsecured promissory note in favor of Mr. Koehler. The promissory note was for the principal amount of $1,000,000. Interest on
the unpaid principal amount of the promissory note accrues at a rate per annum of 8.00%. On March 29, 2010, we entered into an
amendment to the promissory note to extend its maturity date to January 5, 2011. On October 29, 2010, we paid all accrued interest
under the promissory note, totaling $126,500. On November 5, 2010, we entered into an amendment to the promissory note extending
its maturity date to March 31, 2012. On December 31, 2010, we paid all accrued interest under the promissory note, totaling $13,774.
On November 30, 2011, we made a principal payment of $250,000, resulting in an unpaid principal balance of $750,000. On March
7, 2012, we entered into an amendment to the promissory note further extending its maturity date to March 31, 2013. On February
7, 2013, we entered into an amendment to the promissory note further extending its maturity date to March 31, 2014. For the years
ended December 31, 2012 and 2011, we paid all accrued interest under the promissory note, totaling $60,164 and $78,300, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On January 28, 2010, we granted 35,714
shares of our restricted common stock to Mr. Koehler in consideration of services provided. The value of the common was determined
be $535,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On October 20, 2010, we granted 107,143
shares of our restricted common stock to Mr. Koehler in consideration of services provided. The value of the common stock was determined
to be $712,500.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On August 1, 2011, we granted 71,429
shares of our restricted common stock to Mr. Koehler in consideration of services provided. The value of the common stock was determined
to be $61,429.</P>

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

<!-- Field: Page; Sequence: 79; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>Paul P. Koehler </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Paul P. Koehler, a brother of Neil M.
Koehler, is employed by us as Vice President of Corporate Development at an annual salary of $220,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On May 20, 2008, we sold to Mr. Koehler
12,820 shares of our Series B Preferred Stock, all of which were initially convertible into an aggregate of 5,494 shares of our
common stock based on an initial preferred-to-common conversion ratio of approximately 1-for-0.43, and warrants to purchase an
aggregate of 2,747 shares of our common stock at an exercise price of $49.00 per share, for an aggregate purchase price of $250,000.
As a result of various anti-dilution adjustments, the conversion ratio of the Series B Preferred Stock has declined to approximately
1-for-7.3. For the years ended December 31, 2011, 2010 and 2009, we accrued cash dividends in the amount of $17,500 in respect
of shares of Series B Preferred Stock held by Mr. Koehler.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On August 21, 2012, we entered into an
agreement with Mr. Koehler under which $5,250 of the accrued and unpaid dividends in respect of shares of Series B Preferred Stock
held by Mr. Koehler were to be paid in shares of our common stock at a price per share of $0.31. We made such payment by issuing
an aggregate of 16,935 shares of common stock to Mr. Koehler on August 24, 2012. <B> </B>On December 26, 2012, we entered into
an agreement with Mr. Koehler under which $5,250 of the accrued and unpaid dividends in respect of shares of Series B Preferred
Stock held by Mr. Koehler were to be paid in shares of our common stock at a price per share of $0.34. We made such payment by
issuing an aggregate of 15,564 shares of common stock to Mr. Koehler on December 31, 2012. As of December 31, 2012, in aggregate,
dividends totaling $42,000 have not been paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Thomas D. Koehler</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On May 20, 2008, we sold to Thomas D.
Koehler, a brother of Neil M. Koehler, who is our President and Chief Executive Officer and one of our directors, 12,820 shares
of our Series B Preferred Stock, all of which were initially convertible into an aggregate of 5,494 shares of our common stock
based on an initial preferred-to-common conversion ratio of approximately 1-for-0.43, and warrants to purchase an aggregate of
2,747 shares of our common stock at an exercise price of $49.00 per share, for an aggregate purchase price of $250,000. As a result
of various anti-dilution adjustments, the conversion ratio of the Series B Preferred Stock has declined to approximately 1-for-7.3.
For the years ended December 31, 2011, 2010 and 2009, we accrued cash dividends in the amount of $17,500 in respect of shares of
Series B Preferred Stock held by Mr. Koehler.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On August 21, 2012, we entered into an
agreement with Mr. Koehler under which $5,250 of the accrued and unpaid dividends in respect of shares of Series B Preferred Stock
held by Mr. Koehler were to be paid in shares of our common stock at a price per share of $0.31. We made such payment by issuing
an aggregate of 16,935 shares of common stock to Mr. Koehler on August 24, 2012. On December 26, 2012, we entered into an agreement
with Mr. Koehler under which $5,250 of the accrued and unpaid dividends in respect of shares of Series B Preferred Stock held by
Mr. Koehler were to be paid in shares of our common stock at a price per share of $0.34. We made such payment by issuing an aggregate
of 15,564 shares of common stock to Mr. Koehler on December 31, 2012. As of December 31, 2012, in aggregate, dividends totaling
$42,000 have not been paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On April 1, 2008, we entered into an
Independent Contractor Services Agreement with Mr. Koehler for the provision of strategic consulting services, including in connection
with promoting Pacific Ethanol, and ethanol as a fuel additive and transportation fuel, with governmental agencies. Mr. Koehler
was compensated at a rate of $5,000 per month under this arrangement from April 1, 2008 through September 30, 2010. Effective October
1, 2010, Mr. Koehler&rsquo;s compensation was increased to $7,500 per month.</P>

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

<!-- Field: Page; Sequence: 80; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>William L. Jones</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On May 20, 2008, we sold to Mr. Jones
12,820 shares of our Series B Preferred Stock, all of which were initially convertible into an aggregate of 5,494 shares of our
common stock based on an initial preferred-to-common conversion ratio of approximately 1-for-0.43, and warrants to purchase an
aggregate of 2,747 shares of our common stock at an exercise price of $49.00 per share, for an aggregate purchase price of $250,000.
As a result of various anti-dilution adjustments, the conversion ratio of the Series B Preferred Stock has declined to approximately
1-for-7.3. For the years ended December 31, 2011, 2010 and 2009, we accrued cash dividends in the amount of $17,500 in respect
of shares of Series B Preferred Stock held by Mr. Jones.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On August 21, 2012, we entered into an
agreement with Mr. Jones under which $5,250 of the accrued and unpaid dividends in respect of shares of Series B Preferred Stock
held by Mr. Jones were to be paid in shares of our common stock at a price per share of $0.31. We made such payment by issuing
an aggregate of 16,935 shares of common stock to Mr. Jones on August 24, 2012. On December 26, 2012, we entered into an agreement
with Mr. Jones under which $5,250 of the accrued and unpaid dividends in respect of shares of Series B Preferred Stock held by
Mr. Jones were to be paid in shares of our common stock at a price per share of $0.34. We made such payment by issuing an aggregate
of 15,564 shares of common stock to Mr. Jones on December 31, 2012. As of December 31, 2012, in aggregate, dividends totaling $42,000
have not been paid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On March 30, 2009, we entered into an
unsecured promissory note in favor of Mr. Jones. The promissory note was for the principal amount of $1,000,000. Interest on the
unpaid principal amount of the promissory note accrued at a rate per annum of 8.00%. On October 29, 2010, we paid $750,000 in principal
and all accrued interest under the promissory note, totaling $127,000. On November 5, 2010, we entered into an amendment to the
promissory note extending its maturity date to March 31, 2012. On December 31, 2010, we paid all accrued interest under the promissory
note, totaling $3,000. On November 30, 2011, we paid in full the remainder of the outstanding balance of $250,000 on the promissory
note. For the year ended December 31, 2011, we paid all accrued interest under the promissory note, totaling $18,300.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Jones serves as a non-employee director
and Chairman of our Board. On January 28, 2010, we granted 4,286 shares of our restricted common stock to each of our non-employee
directors in consideration of services provided. The value of the common stock granted to each non-employee director on January
28, 2010 was determined to be $64,200. On October 1, 2010 we granted 8,163 shares of our restricted common stock to each of our
non-employee directors in consideration of services provided. The value of the common stock granted to each non-employee director
on October 1, 2010 was determined to be $60,000. On October 20, 2010, we granted 12,857 shares of our restricted common stock to
each of our non-employee directors in consideration of services provided. The value of the common stock granted to each non-employee
director on October 20, 2010 was determined to be $85,500. On August 1, 2011, we granted 11,429 shares of our restricted common
stock to Mr. Jones, the Chairman of our Board, in consideration of services provided. The value of the common stock granted to
the Chairman of our Board on August 1, 2011 was determined to be $9,829.</P>

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

<!-- Field: Page; Sequence: 81; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>Ryan W. Turner</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On May 13, 2009, we entered into a consulting
agreement with Ryan W. Turner, who is the son-in-law of William L. Jones, for consulting services relating to a potential capital
raising transaction and reorganization of us or our bankrupt subsidiaries, or both, at $10,000 per month. In November 2009, we
executed a new consulting agreement with Mr. Turner for similar consulting services at $20,000 per month. In 2009 and 2010, we
paid Mr. Turner an aggregate of $86,500 and $23,100, respectively, under these arrangements. Our consulting relationship with Mr.
Turner was terminated in connection with his appointment to our Board in February 2010. We paid $205,270 and $14,539 in director
fees to Mr. Turner for services provided as a member of our Board during 2010 and 2011, respectively. On April 4, 2011, Mr. Turner
chose not to stand for reelection as a member of the Board and his directorship ceased on May 9, 2011.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On September 7, 2010, we granted 1,786
shares of our restricted common stock to Ryan Turner in consideration of services provided as a non-employee director on our Board.
The value of the common stock granted to Mr. Turner on September 7, 2010 was determined to be $7,375. On October 1, 2010, we granted
8,163 shares of our restricted common stock to each of our non-employee directors in consideration of services provided. The value
of the common stock granted to each non-employee director on October 1, 2010 was determined to be $60,000. On October 20, 2010,
we granted 12,857 shares of our restricted common stock to each of our non-employee directors in consideration of services provided.
The value of the common stock granted to each non-employee director on October 20, 2010 was determined to be $85,500.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Michael</I></B><I> <B>D. Kandris</B></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">During the years ended December 31, 2011
and 2012, Mr. Kandris provided consulting services to us concerning ethanol plant operations and was paid $239,135 in 2012 and
$184,074 in 2011 for his services.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On January 28, 2010, we granted 4,286
shares of our restricted common stock to each of our non-employee directors in consideration of services provided. The value of
the common stock granted to each non-employee director on January 28, 2010 was determined to be $64,200. On October 1, 2010, we
granted 8,163 shares of our restricted common stock to each of our non-employee directors in consideration of services provided.
The value of the common stock granted to each non-employee director on October 1, 2010 was determined to be $60,000. On October
20, 2010, we granted 12,857 shares of our restricted common stock to each of our non-employee directors in consideration of services
provided. The value of the common stock granted to each non-employee director on October 20, 2010 was determined to be $85,500.
On August 1, 2011, we granted 8,571 shares of our restricted common stock to each of our non-employee directors (except for the
Chairman of our Board, Mr. Jones) in consideration of services provided. The value of the common stock granted to Mr. Kandris on
August 1, 2011 was determined to be $7,371.</P>

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

<!-- Field: Page; Sequence: 82; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>Terry L. Stone, John L. Prince,
Douglas L. Kieta and Larry D. Layne</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Messrs. Stone, Prince, Kieta and Layne
serve as non-employee directors on our Board. On January 28, 2010, we granted 4,286 shares of our restricted common stock to each
of our non-employee directors in consideration of services provided. The value of the common stock granted to each non-employee
director on January 28, 2010 was determined to be $64,200. On October 1, 2010, we granted 8,163 shares of our restricted common
stock to each of our non-employee directors in consideration of services provided. The value of the common stock granted to each
non-employee director on October 1, 2010 was determined to be $60,000. On October 20, 2010, we granted 12,857 shares of our restricted
common stock to each of our non-employee directors in consideration of services provided. The value of the common stock granted
to each non-employee director on October 20, 2010 was determined to be $85,500. On August 1, 2011, we granted 8,571 shares of our
restricted common stock to each of our non-employee directors (except for the Chairman of our Board, Mr. Jones) in consideration
of services provided. The value of the common stock granted to Messrs. Stone, Prince, Kieta and Layne on August 1, 2011 was determined
to be $7,371.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Christopher W. Wright </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Wright is our Vice President, General
Counsel and Secretary. On January 28, 2010, we granted 10,000 shares of our restricted common stock to Mr. Wright in consideration
of services provided. The value of the common stock granted on January 28, 2010 was determined to be $149,800. On October 20, 2010,
we granted 30,000 shares of our restricted common stock to Mr. Wright in consideration of services provided. The value of the common
stock granted on October 20, 2010 was determined to be $199,500. On August 1, 2011, we granted 20,000 shares of our restricted
common stock to Mr. Wright in consideration of services provided. The value of the common stock granted on August 1, 2011 was determined
to be $17,200.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Bryon T. McGregor</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. McGregor is our Chief Financial Officer.
On January 28, 2010, we granted 10,000 shares of our restricted common stock to Mr. McGregor in consideration of services provided.
The value of the common stock granted on January 28, 2010 was determined to be $149,800. On October 20, 2010, we granted 30,000
shares of our restricted common stock to each of Mr. McGregor in consideration of services provided. The value of the common stock
granted on October 20, 2010 was determined to be $199,500. On August 1, 2011, we granted 20,000 shares of our restricted common
stock to Mr. McGregor in consideration of services provided. The value of the common stock granted on August 1, 2011 was determined
to be $17,200.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Lyles United, LLC</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On March 27, 2008, we sold to Lyles United
2,051,282 shares of our Series B Preferred Stock, all of which were initially convertible into an aggregate of 879,121 shares of
our common stock based on an initial preferred-to-common conversion ratio of approximately 1-for-0.43, and warrants to purchase
an aggregate of 439,560 shares of our common stock at an exercise price of $49.00 per share, for an aggregate purchase price of
$40,000,000. As a result of various anti-dilution adjustments, the conversion ratio of the Series B Preferred Stock has declined
to approximately 1-for-7.3. For the years ended December 31, 2011, 2010 and 2009, we accrued cash dividends in the amount of $700,000,
$700,000 and $2,270,000, respectively, in respect of shares of Series B Preferred Stock held by Lyles United.</P>

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

<!-- Field: Page; Sequence: 83; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->82<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">On August 21, 2012, we entered into an
agreement with Lyles United under which $367,068 of the accrued and unpaid dividends in respect of shares of Series B Preferred
Stock held by Lyles United were to be paid in shares of our common stock at a price per share of $0.31. We made such payment by
issuing an aggregate of 1,184,091 shares of common stock to Lyles United on August 24, 2012. On December 26, 2012, we entered into
an agreement with Lyles United under which $367,068 of the accrued and unpaid dividends in respect of shares of Series B Preferred
Stock held by Lyles United were to be paid in shares of our common stock at a price per share of $0.34. We made such payment by
issuing an aggregate of 1,088,275 shares of common stock to Lyles United on December 31, 2012. As of December 31, 2012, in aggregate,
dividends totaling $2,936,546 have not been paid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In November and December 2007, one of
our wholly-owned subsidiaries borrowed, in two loan transactions of equal amount, an aggregate of $30,000,000 from Lyles United.
The loans were due in the amount of $15,000,000 in each of February and March 2009 and were secured by substantially all of the
assets of the subsidiary. We guaranteed the repayment of the loan. The first loan accrued interest at the Prime Rate of interest
as reported from time to time in <I>The Wall Street Journal</I>, plus 2% and the second loan accrued interest at the Prime Rate
of interest as reported from time to time in <I>The Wall Street Journal</I>, plus 4%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In connection with the first loan in
November 2007, our subsidiary entered into a Letter Agreement with Lyles United under which it committed to award the primary construction
and mechanical contract to Lyles United or one of its affiliates for the construction of an ethanol production facility at the
Imperial Valley site near Calipatria, California, or the Project, conditioned upon the subsidiary electing, in its sole discretion,
to proceed with the Project and Lyles United or its affiliate having all necessary licenses and being otherwise ready, willing
and able to perform the primary construction and mechanical contract. In the event the foregoing conditions were satisfied and
the subsidiary awarded the contract to a party other than Lyles United or one of its affiliates, the subsidiary would have been
required to pay to Lyles United, as liquidated damages, an amount equal to $5.0 million. We have ceased any construction activity
at the Imperial Valley site.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In November 2008, we restructured the
loans from Lyles United. We assumed all of the subsidiary&rsquo;s obligations under the loans and issued a single promissory note
in favor of Lyles United in the principal amount of $30,000,000, or the Lyles United Note. The new loan was due March 15, 2009
and accrues interest at the Prime Rate of interest as reported from time to time in <I>The Wall Street Journal</I>, plus 3%. We
also terminated Lyles United&rsquo;s security interest in our subsidiary&rsquo;s assets. We also entered into a joint instruction
letter with Lyles United instructing a subsidiary to remit directly to Lyles United any cash distributions received on account
of the subsidiary&rsquo;s ownership interests in the initial obligor subsidiary or Front Range until the time as the loan is repaid
in full. In addition, the subsidiary entered into a limited recourse guaranty in favor of Lyles United to the extent of the cash
distributions. Another subsidiary also guaranteed our obligations as to the loan and pledged all of its assets as security therefor.
Finally, the initial obligor subsidiary paid all accrued and unpaid interest on the initial loans through November 6, 2008 in the
aggregate amount of $2,205,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We paid Lyles United an aggregate of
$332,000 and $146,000 in interest on the loans for the years ended December 31, 2009 and 2008, respectively. As of December 31,
2009, we owed Lyles United accrued and unpaid interest of $2,644,000 in respect of this loan, subject to amounts that may be satisfied
on account of the transactions described below with Socius CG II, Ltd. On October 6, 2010, we paid $15,214,700 in principal, interest
and fees to Lyles United, fully satisfying the amounts owed to Lyles United under these loans.</P>

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

<!-- Field: Page; Sequence: 84; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in"><I>Lyles Mechanical Co. Loan Transaction</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In October 2008, we issued an unsecured
promissory note, or the Lyles Mechanical Note, to Lyles Mechanical Co., or Lyles Mechanical, an affiliate of Lyles United. The
promissory note is for the principal amount of $1,500,000 for final payment due to Lyles Mechanical for final construction our
ethanol production facility in Stockton, California. Interest on the unpaid principal amount of the promissory note accrues at
an annual rate equal to the Prime Rate as reported from time to time in <I>The Wall Street Journal</I> plus 2%. All principal and
unpaid interest on the promissory note was due on March 31, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We did not pay Lyles Mechanical any principal
or interest on the loans for the years ended December 31, 2009 and 2008. As of December 31, 2009, we owed Lyles Mechanical accrued
and unpaid interest of $87,000 in respect of this loan, subject to amounts that may be satisfied on account of the transactions
described below with Socius CG II, Ltd. On October 6, 2010, we paid $1,822,630 in principal and interest to Lyles Mechanical, fully
satisfying the amounts owed to Lyles Mechanical under these loans.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In February 2009 we and some of our subsidiaries
and Lyles United and Lyles Mechanical entered into a forbearance agreement relating to the loans described above. In March 2009,
we and some of our subsidiaries as well as Lyles United and Lyles Mechanical entered into an amended forbearance agreement relating
to the loans described above. The amended forbearance agreement provided that Lyles United and Lyles Mechanical would forbear from
exercising their rights and remedies under their promissory notes until the earliest to occur of April 30, 2009; the date of termination
of the forbearance period due to a default under the amended forbearance agreement; and the date on which all of the obligations
under the promissory notes and related documents have been paid and discharged in full and the promissory notes have been canceled.
On October 6, 2010, we paid all amounts due to Lyles United and Lyles Mechanical under the loans described above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Between March 5, 2010 and July 21, 2010,
under the terms of Orders Approving Stipulation for Settlement of Claim, or Orders, entered by the Superior Court of the State
of California for the County of Los Angeles, we issued an aggregate of <FONT STYLE="color: black">3,441,000</FONT> shares of our
common stock to Socius GC II, Ltd., or Socius, in consideration of the full and final settlement of an aggregate of $19,000,000
in claims against us held by Socius, or the Claims and legal fees and expenses incurred by Socius. Socius purchased the Claims
from Lyles United under the terms of a Purchase and Option Agreement dated effective as of March 2, 2010 between Socius and Lyles
United, or Lyles United Purchase Agreement. The Claims consisted of the right to receive an aggregate of $19,000,000 of principal
amount under a loan made by Lyles United to us under the terms of an Amended and Restated Promissory Note dated November
7, 2008 in the original principal amount of $30,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><I>Lyles United Purchase Agreement</I>.
On March 2, 2010, Socius and Lyles United entered into the Lyles United Purchase Agreement described above. We are a party to the
Lyles United Purchase Agreement through our execution of an acknowledgment contained in that agreement. The Lyles United Purchase
Agreement provided for the sale by Lyles United to Socius of Lyles United&rsquo;s right to receive payment on a portion of the
total amount of our indebtedness to Lyles United, specifically $5,000,000 principal amount of and under the Lyles United Note.
The Lyles United Purchase Agreement also provides that if specified conditions are met with respect to the sale and purchase of
the $5,000,000 portion of the total indebtedness owed to Lyles United, then Lyles United will have successive options, to be exercised
at the sole and absolute discretion of Lyles United, if at all, to sell, transfer and assign to Socius one or more additional claims
(which may include any combination of principal, interest or reimbursable fees or expenses comprising part of the then-outstanding
indebtedness) in the amount of up to $5,000,000 each. On October 6, 2010, we paid in full all amounts due under the Lyles United
Note.</P>

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

<!-- Field: Page; Sequence: 85; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->84<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in"><I>Lyles Mechanical Option/Purchase Agreement</I>.
On March 2, 2010, Socius and Lyles Mechanical entered into an Option/Purchase Agreement, or Option Agreement. We are a party to
the Option Agreement through our execution of an acknowledgment contained in that agreement. The Option Agreement grants Lyles
Mechanical an option in the future, to be exercised at the sole and absolute discretion of Lyles Mechanical, if at all, to sell,
transfer and assign to Socius the right of Lyles Mechanical to receive payment of all amounts due Lyles Mechanical by us under
the terms of the Lyles Mechanical Note in the principal amount of $1,500,000. On October 6, 2010, we paid in full all amounts due
under the Lyles Mechanical Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Frank P. Greinke</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">For the years ended December 31, 2012,
2011, 2010 and 2009, we accrued cash dividends in the amount of $116,000, $116,000, $1,366,000 and $414,000, respectively, in respect
of shares of Series B Preferred Stock held by the Greinke Personal Living Trust Dated April 20, 1999 (&ldquo;Greinke Trust&rdquo;).
Frank P. Greinke is one of our former directors and the trustee of the holder of shares of our issued and outstanding Series B
Preferred Stock. The Greinke Trust acquired its shares of Series B Preferred Stock from Lyles United in December 2009. On January
4, 2011, the Greinke Trust converted 170,358 shares of Series B Preferred Stock into 142,857 shares of our common stock. On January
10, 2011, the Greinke Trust converted 233,782 shares of Series B Preferred Stock into 196,042 shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Shares of our Series B Preferred Stock,
which were initially convertible into shares of our common stock based on an initial preferred-to-common conversion ratio of approximately
1-for-0.43, were converted into shares of our common stock based on lower conversion ratios resulting from various anti-dilution
adjustments, thereby increasing the number of shares of common stock issued to the Greinke Trust in connection with its conversions
of our Series B Preferred Stock. The current conversion ratio is approximately 1-for-7.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On August 21, 2012, we entered into an
agreement with the Greinke Trust under which $189,656 of the accrued and unpaid dividends in respect of shares of Series B Preferred
Stock held by the Greinke Trust were to be paid in shares of our common stock at a price per share of $0.31. We made such payment
by issuing an aggregate of 611,795 shares of common stock to the Greinke Trust on August 24, 2012. On December 26, 2012, we entered
into an agreement with the Greinke Trust under which $189,656 of the accrued and unpaid dividends in respect of shares of Series
B Preferred Stock held by the Greinke Trust were to be paid in shares of our common stock at a price per share of $0.34. We made
such payment by issuing an aggregate of 562,288 shares of common stock to the Greinke Trust on December 31, 2012. As of December
31, 2012, in aggregate, dividends totaling $1,517,250 have not been paid.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">During 2009 and 2008, we contracted with
Southern Counties Oil Co., an entity controlled by Mr. Greinke, for the purchase of ethanol. For the years ended December 31, 2009
and 2008, we sold ethanol to Southern Counties Oil Co. for an aggregate of $2,482,000 and $12,095,000, respectively, and as of
December 31, 2009 and 2008, we had outstanding accounts receivable due from Southern Counties Oil Co. of $138,000 and $152,000,
respectively. For the nine months ended September 30, 2010, we sold ethanol to Southern Counties Oil Co. for an aggregate of $3,414,000
and as of September 30, 2010, we had outstanding accounts receivable of $109,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">During the years ended December 31, 2010,
2011 and 2012, we contracted with Southern Counties Oil Co., an entity controlled by Mr. Greinke, for sales of ethanol in an aggregate
amount of approximately $6,836,400, $11,775,500 and $1,062,600, respectively.</P>

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

<!-- Field: Page; Sequence: 86; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0">&nbsp;<B> </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The following table sets forth information
with respect to the beneficial ownership of our voting securities as of February 6, 2013, the date of the table, by:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>each person known by us to beneficially own more than 5% of the outstanding shares of our common stock;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>each of our directors;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>each of our current executive officers; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>all of our directors and executive officers as a group.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in">Beneficial ownership is determined in accordance
with the rules of the Securities and Exchange Commission, and includes voting or investment power with respect to the securities.
To our knowledge, except as indicated by footnote, and subject to community property laws where applicable, the persons named in
the table below have sole voting and investment power with respect to all shares of common stock shown as beneficially owned by
them. Shares of common stock underlying derivative securities, if any, that currently are exercisable or convertible or are scheduled
to become exercisable or convertible for or into shares of common stock within 60 days after the date of the table are deemed to
be outstanding in calculating the percentage ownership of each listed person or group but are not deemed to be outstanding as to
any other person or group. Except as indicated by footnote, percentage of beneficial ownership is based on 149,203,614 shares of
common stock and 926,942 shares of Series B Preferred Stock outstanding as of the date of the table.<FONT STYLE="font-size: 10pt">
</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 44%; padding-right: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-indent: -9pt; border-bottom: Black 0.5pt solid"><B>Name
        and Address of Beneficial Owner</B><SUP>(1)</SUP></P></TD>
    <TD STYLE="width: 19%; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Title of
        Class</B></P></TD>
    <TD STYLE="width: 23%; padding-right: 0.1in; padding-left: 0.1in; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; border-bottom: Black 0.5pt solid; margin-bottom: 0; text-align: center"><B>Amount
        and Nature</B><BR>
        <B>of Beneficial Ownership</B></P></TD>
    <TD STYLE="width: 14%; padding-right: 0.1in; padding-left: 0.1in; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; border-bottom: Black 0.5pt solid; margin-bottom: 0; text-align: center"><B>Percent</B><BR>
        <B>of Class</B></P></TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">William L. Jones&#9;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;621,866<SUP>(2)</SUP></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">Series B Preferred</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;12,820</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">1.38%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 0.1in">Neil M. Koehler&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;3,308,763<SUP>(3)</SUP></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;2.19%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">Series B Preferred</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;256,410</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;27.66%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 0.1in">Bryon T. McGregor&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;108,272<SUP>(4)</SUP></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 0.1in">Christopher W. Wright&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;50,703<SUP>(5)</SUP></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">*</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">Terry L. Stone&#9;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;186,021<SUP>(6)</SUP></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 0.1in">John L. Prince&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;181,735<SUP>(7)</SUP></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 0.1in">Douglas L. Kieta&#9;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;188,821</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">Larry D. Layne&#9;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;284,535<SUP>(8)</SUP></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">*</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">Michael D. Kandris&#9;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;193,878</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">Frank P. Greinke&#9;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;2,113,815<SUP>(9)</SUP></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;1.41%</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Series B Preferred</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;85,180</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;9.19%</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">Lyles United, LLC&#9;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;4,168,985<SUP>(10)</SUP></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;2.72%</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Series B Preferred</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;512,820</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;55.32%</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">Capital Ventures International&#9;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;13,122,760<SUP>(11)</SUP></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;8.79%</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">Iroquois Master Fund Ltd.&#9;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;12,500,000<SUP>(12)</SUP></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;8.38%</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-indent: -9pt">All executive officers and
        directors as a group (9 persons)&#9;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Common</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;5,124,594<SUP>(13)</SUP></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;3.39%</TD></TR>
<TR STYLE="background-color: rgb(238,238,238)">
    <TD STYLE="vertical-align: top; padding-right: 0.1in">__________</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">Series B Preferred</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;269,230</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; text-align: center">&#9;29.04%</TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">*</TD><TD>Less than 1.00%</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;<B> </B></P>

<!-- Field: Page; Sequence: 87; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.5pt">(1)</TD><TD>Messrs. Jones, Koehler, Stone, Prince, Kieta, Layne and Kandris are directors of Pacific Ethanol. Messrs. Koehler, McGregor,
Wright and Kandris are executive officers of Pacific Ethanol. The address of each of these persons is c/o Pacific Ethanol, Inc.,
400 Capitol Mall, Suite 2060, Sacramento, California 95814.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(2)</TD><TD>Amount represents 518,744 shares of common stock held by William L. Jones and Maurine Jones, husband and wife, as community
property, 7,143 shares of common stock underlying options issued to Mr. Jones, 2,748 shares of common stock underlying a warrant
issued to Mr. Jones and 93,231 shares of common stock underlying our Series B Preferred Stock held by Mr. Jones.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(3)</TD><TD>Amount represents 1,370,356 shares of common stock held directly, 54,945 shares of common stock underlying a warrant, 1,864,712
shares of common stock underlying our Series B Preferred Stock and 18,750 shares of common stock underlying options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(4)</TD><TD>Includes 8,571 shares of common stock underlying options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(5)</TD><TD>Includes 8,571 shares of common stock underlying options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(6)</TD><TD>Includes 2,143 shares of common stock underlying options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(7)</TD><TD>Includes 2,143 shares of common stock underlying options.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(8)</TD><TD>Includes 100,000 shares beneficially owned by Larry D. Layne, as trustee under the Layne Family Trust.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(9)</TD><TD>Amount represents 1,494,354 shares of common stock held directly and 619,461 shares of common stock underlying our Series B
Preferred Stock. The shares are beneficially owned by Frank P. Greinke, as trustee under the Greinke Personal Living Trust Dated
April 20, 1999. The address of Frank P. Greinke is P.O. Box 4159, 1800 W. Katella, Suite 400, Orange, California 92863.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(10)</TD><TD>Includes 439,561 shares of common stock underlying a warrant and 3,729,424 shares of common stock underlying our Series B Preferred
Stock. In addition, Lyles Diversified, Inc. holds 79,983 shares of common stock and The Lyles Foundation holds 51,707 shares of
common stock. The address of Lyles United, LLC is c/o Howard Rice Nemerovski Canady Falk &amp; Rabkin, Three Embarcadero Center,
Suite 700, San Francisco, California 94111-4024.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(11)</TD><TD>Includes warrants to purchase an aggregate of 71,429 shares of common stock. The information with respect to the holdings of
Capital Ventures International is based solely on the Schedule 13G filed September 28, 2012 by Capital Ventures International and
Heights Capital Management, Inc. Capital Ventures International and Heights Capital Management, Inc. share voting and dispositive
power over all shares beneficially owned. Heights Capital Management, Inc. is the investment manager to Capital Ventures International
and as such may exercise voting and dispositive power over the shares. The address for Capital Ventures International is One Capitol
Place, P.O. Box 1787 GT, Grand Cayman, Cayman Islands, British West Indies. The address for Heights Capital Management, Inc. is
101 California Street, Suite 3250, San Francisco, California 94111.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(12)</TD><TD>The information with respect to the holdings of Iroquois Master Fund Ltd. is based solely on the Schedule 13G filed October
9, 2012 by Iroquois Capital Management L.L.C., Joshua Silverman and Richard Abbe, as the reporting persons. Each of the reporting
persons shares voting and dispositive power over all shares beneficially owned. The shares reported as beneficially owned excludes
15,335,250 shares of common stock issuable upon exercise of a warrant issued to Iroquois Master Fund Ltd. because the warrant contains
a blocking provision under which the holder thereof does not have the right to exercise the warrant to the extent that such exercise
would result in beneficial ownership by the holder thereof or any of its affiliates, of more than 4.9% of our shares of common
stock outstanding. The address for each of the reporting persons is 641 Lexington Avenue, 26<SUP>th</SUP> Floor, New York, New
York 10022.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 24.5pt">(13)</TD><TD>Amount represents 3,061,637 shares of common stock held directly, 47,321 shares of common stock underlying options, 57,693
shares of common stock underlying warrants and 1,957,943 shares of common stock underlying our Series B Preferred Stock.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 88; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">This prospectus covers the sale by the
selling security holders of up to an aggregate of 33,000,000 shares of common stock, representing an aggregate of 7,369,714 shares
of common stock issuable, at our election, in payment of interest on the Notes and an aggregate of 25,630,286 shares of our common
stock underlying Warrants. We are registering the shares of common stock in order to permit the selling security holders to offer
the shares for resale from time to time. Except for the ownership of the Notes and the Warrants described below, the selling security
holders have not had any material relationship with us within the past three years except as disclosed under the heading &ldquo;Our
Relationships with the Selling Security Holders&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The table below lists the selling security
holders and other information regarding the beneficial ownership of the shares of common stock held by each of the selling security
holders. The second column lists the number of shares of common stock beneficially owned by the selling security holders, based
on their respective ownership of shares of common stock, Warrants and other warrants, as of February 6, 2013. The number of shares
in the second column does not take into account any limitations on the exercise of any warrants (including, the Warrants).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The third column lists the shares of
common stock being offered by this prospectus by the selling security holders and does not take into account any limitations on
issuance contained in the Notes or on exercise contained in the Warrants. The selling security holders may sell all, some or none
of their shares in this offering. See &ldquo;Plan of Distribution.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">This prospectus generally covers the
resale of up to 7,369,714 shares of common stock issuable, at our election, in payment of interest on the Notes (i.e., a portion
of the shares of common stock that may be issued as interest in lieu of cash payments). We are only registering a portion of the
total number of shares that may be issued, at our election, in payment of interest on the Notes. The number of shares of common
stock that will be issued, at our election, in payment of interest on the Notes (i.e., shares of common stock that may be issued
as interest in lieu of cash payments) may be more or less than the number of shares being offered by this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The fourth column assumes the sale of
all of the shares offered by the selling security holders under this prospectus<FONT STYLE="font-size: 10pt">. </FONT>The number
of shares in the fourth column does not take into account any limitations on the exercise of any warrants held by the selling security
holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Under the terms of the Warrants, a selling
security holder may not exercise the Warrants to the extent (but only to the extent)&nbsp;that&nbsp;the selling security holder
or any of its affiliates would, after such exercise, beneficially own more than&nbsp;4.99% of our outstanding shares of common
stock, or Blocker. The Blocker applicable to the exercise of the Warrants may be raised or lowered at the option of the selling
security holder to any percentage not in excess of 9.99%, except that any increase will only be effective upon 61-days&rsquo; prior
notice to us. The number of shares in the second column does not reflect this limitation contained in the Warrants or identical
limitations contained in any other warrants held by the selling security holders. The number of shares in the fourth column does
not reflect limitations contained in any other warrants held by the selling security holders. The number of shares beneficially
owned by each selling security holder taking into account these limitations, if such number is less than the number of shares set
forth in the table, is set forth in the footnotes to the table below.</P>

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

<!-- Field: Page; Sequence: 89; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">Except as disclosed in the
footnotes to the table below, each of the selling security holders has represented to us that  it is not a broker-dealer, or
affiliated with or associated with a broker-dealer, registered with the Securities and Exchange Commission or designated as a
member of the Financial Industry Regulatory Authority. The shares of common stock being offered under this prospectus may be
offered for sale from time to time during the period the registration statement of which this prospectus is a part remains
effective, by or for the accounts of the selling security holders listed below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Beneficial ownership is determined in
accordance with the rules of the SEC, and includes voting or investment power with respect to the securities. To our knowledge,
except as indicated by footnote, and subject to community property laws where applicable, the persons named in the table below
have sole voting and investment power with respect to all shares of common stock shown as beneficially owned by them. Except as
indicated by footnote, all shares of common stock underlying derivative securities, if any, that are currently exercisable or convertible
or are scheduled to become exercisable or convertible for or into shares of common stock within 60 days after the date of the table
are deemed to be outstanding for the purpose of calculating the percentage ownership of each listed person or group but are not
deemed to be outstanding as to any other person or group.</P>

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

<!-- Field: Page; Sequence: 90; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">Name of</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Shares of<BR> Common Stock<BR> Beneficially Owned<BR> Prior to</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Maximum Number of Shares of<BR> Common Stock to be Sold Pursuant to this</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; text-align: center">Shares of<BR> Common Stock<BR> Beneficially Owned<BR> After Offering (##)</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Beneficial Owner</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"><P STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>Offering
                                                                                                                                                                     (#)</B></P></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"><P STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>Prospectus</B></P></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"><P STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>Number</B></P></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percentage</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&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">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0.1in">&ndash;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Candlewood Special Situations Master Fund, Ltd. <SUP>(1)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,142,697 <SUP>(4)</SUP></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,484,054 <SUP>(5)</SUP></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0.1in">&ndash;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 42%; text-align: left">Credit Suisse Loan Funding LLC <SUP>(6)</SUP></TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">16,640,155 <SUP>(7)</SUP></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">17,218,419 <SUP>(8)</SUP></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">3,267,089 <SUP>(9)</SUP></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right; padding-left: 0.1in">1.77%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">CCVF PacEth LLC <SUP>(10)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,389 <SUP>(11)</SUP></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,370 <SUP>(12)</SUP></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0.1in">&ndash;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Candlewood Credit Value Fund II, LP <SUP>(10)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,395 <SUP>(13)</SUP></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,378 <SUP>(14)</SUP></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0.1in">&ndash;</TD></TR>
</TABLE>



<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: 0">__________</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(#)</TD><TD>Does not take into account any limitations on exercise contained in any warrants (including, the Warrants).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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">(##)</TD><TD>Assumes all shares being offered under this prospectus are sold. The percentage of beneficial ownership is based on 182,203,614
shares of common stock, consisting of 149,203,614 shares of common stock outstanding as of February 6, 2013 and the 33,000,000
shares of common stock offered under this prospectus. Does not take into account any limitations on exercise contained in any warrants
beneficially held by the selling security holder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">(1)</TD><TD>Michael Lau and David Koenig, as Managing Partners of Candlewood Investment Group, LP (&ldquo;CIG&rdquo;), the investment manager
of the selling security holder, have the power to vote and dispose of the securities held by the selling security holder&nbsp;and
may be deemed to beneficially own such securities.&nbsp;&nbsp;Mr. Lau, Mr. Koenig and&nbsp;CIG each disclaim beneficial ownership
of such securities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>The number of shares represented in the second column of the table does not take into account the limitations on exercise contained
in the Warrants, which provide that the selling security holder may not exercise the Warrants to the extent (but only to the extent)&nbsp;that&nbsp;the
selling security holder or any of its affiliates would, after such exercise, beneficially own more than&nbsp;4.99% of our outstanding
shares of common stock.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>CWD OC 522 Master Fund, Ltd., Candlewood Special Situations Master Fund, Ltd. and CIG, together with certain other investment
funds advised by CIG that are not selling security holders, may be deemed to be a &ldquo;group&rdquo; within the meaning of Section
13(d) of the Exchange Act (collectively, the &ldquo;Candlewood Entities&rdquo;). To the extent that such entities are deemed to
be a &ldquo;group,&rdquo; each such entity may be deemed to beneficially own all of the shares of common stock beneficially owned
by each other member of the &ldquo;group.&rdquo; The number of shares of common stock represented as beneficially owned by the
selling security holder in the table does not include any shares of common stock that may be deemed to be beneficially owned by
such entity as a result of membership in any &ldquo;group&rdquo;. The Candlewood Entities may be deemed to beneficially own an
additional 3,786,813 shares of our common stock, consisting of 1,662,625 shares of common stock and 2,124,188 shares of common
stock issuable upon exercise of warrants held by Candlewood Special Situations Fund, L.P. Such warrants may not be exercised to
the extent (but only to the extent) that the holder or any of its affiliates would beneficially own a number of shares of our common
stock which would exceed 4.99% of our outstanding shares of common stock (which limit may be lowered or raised to an amount not
in excess of 9.99%, in either case at the option of the holder, provided that any increase will only be effective upon 61 days&rsquo;
prior notice to us).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>Without taking into account the limitations on exercise contained in the warrants (including the Warrants), the Candlewood
Entities may be deemed to beneficially own an aggregate of 15,981,249 shares prior to the offering. Taking into account the limitations
on exercise contained in the warrants (including the Warrants), the Candlewood Entities may be deemed to beneficially own an aggregate
of 7,748,968 shares of our common stock prior to the offering. If the limitation is raised to 9.99%, the Candlewood Entities may
be deemed to beneficially own an aggregate of 15,981,249 shares prior to the offering.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>After the offering, taking into account the limitations on exercise contained in the warrants, the Candlewood Entities may
be deemed to beneficially own 3,786,813 shares, or 2.05%, of our outstanding common stock. Percentage of beneficial ownership is
calculated as set forth above (see footnote ##).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>None of the Candlewood Entities is affiliated with the Credit Value Entities (see footnote 10).</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 91; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in"></P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">(2)</TD><TD>Represents shares of common stock issuable upon exercise of the Warrants.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(3)</TD><TD>Represents (i) 4,051,739 shares of common stock issuable upon exercise of the Warrants and (ii) 1,165,040 shares of common
stock issuable, at our election, in payment of interest on the Notes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(4)</TD><TD>Represents shares of common stock issuable upon exercise of the Warrants. Taking into account the limitations on exercise contained
in the Warrants, the selling security holder would beneficially own 7,836,291 shares of common stock prior to the offering. If
the limitation is raised to 9.99%, the selling security holder would beneficially own the number of shares represented in the second
column of the table prior to the offering.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(5)</TD><TD>Represents (i) 8,142,697 shares of common stock issuable upon exercise of the Warrants and (ii) 2,341,357 shares of common
stock issuable, at our election, in payment of interest on the Notes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(6)</TD><TD>Credit Suisse Loan Funding LLC is an indirect wholly owned subsidiary of Credit Suisse Group AG, a publicly traded corporation
(NYSE:CS). Credit Suisse Loan Funding LLC is affiliated with a broker-dealer. Credit Suisse Loan Funding LLC has represented that
it acquired the securities offered for its own account in the ordinary course of business, and at the time it acquired the securities,
it had no agreements, plans or understandings, directly or indirectly, to distribute the securities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>The number of shares represented in the second column and the fourth column of the table does not take into account the limitations
on exercise contained in the Warrants, which provide that the selling security holder may not exercise the Warrants to the extent
(but only to the extent)&nbsp;that&nbsp;the selling security holder or any of its affiliates would, after such exercise, beneficially
own more than&nbsp;4.99% of our outstanding shares of common stock.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>Taking into account the limitations on exercise contained in the Warrants, the selling security holder would beneficially own
7,767,655 shares of our common stock prior to the offering. If the limitation is raised to 9.99%, the selling security holder would
beneficially own the number of shares represented in the second column of the table prior to the offering.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(7)</TD><TD>Represents (i) 13,373,066 shares of common stock issuable upon exercise of the Warrants, (ii) 1,306,836 shares of common stock
held by the selling security holder and (iii) 1,960,253 shares of common stock issuable upon exercise of warrants issued in July
2012 to the selling security holder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(8)</TD><TD>Represents (i) 13,373,066 shares of common stock issuable upon exercise of the Warrants and (ii) 3,845,353 shares of common
stock issuable, at our election, in payment of interest on the Notes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(9)</TD><TD>Represents (i) 1,306,836 shares of common stock held by the selling security holder and (ii) 1,960,253 shares of common stock
issuable upon exercise of warrants we issued to the selling security holder in July 2012.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt">(10)</TD><TD>Donald Pollard, Grant Pothast and Michael Geroux, as portfolio managers of Credit Value Partners LP (&ldquo;CVP&rdquo;), the
investment manager of the selling security holder, have the power to vote and dispose of the securities held by the selling security
holder&nbsp;and may be deemed to beneficially own such securities.&nbsp;&nbsp;Messrs. Pollard, Pothast and Geroux, and CVP, each
disclaim beneficial ownership of such securities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>CCVF PacEth LLC, Candlewood Credit Value Fund II, LP and CVP are affiliated entities and may be deemed to be a &ldquo;group&rdquo;
within the meaning of Section 13(d) of the Exchange Act (collectively, the &ldquo;Credit Value Entities&rdquo;). To the extent
CCVF PacEth LLC, Candlewood Credit Value Fund II, LP and CVP are deemed to be a &ldquo;group,&rdquo; each such entity may be deemed
to beneficially own all of the shares of common stock beneficially owned by each other member of the &ldquo;group.&rdquo; The number
of shares of common stock represented as beneficially owned by the selling security holder in the table does not include any shares
of common stock that may be deemed to be beneficially owned by such entity as a result of membership in any &ldquo;group&rdquo;.
As such, the number of shares of common stock represented as beneficially owned (i) by CCVF PacEth LLC in the table does not include
shares of common stock represented in the table as beneficially owned by Candlewood Credit Value Fund II, LP and (ii) by Candlewood
Credit Value Fund II, LP in the table does not include shares of common stock represented in the table as beneficially owned by
CCVF PacEth LLC.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 92; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in"></P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>Taking into account the limitations on exercise contained in the Warrants, the Credit Value Entities would beneficially own
62,784 shares, or 0.04% of our outstanding shares, prior to the offering, consisting of the shares underlying the Warrants held
by Candlewood Credit Value Fund II, LP and Candlewood Credit Value Fund II, LP.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>Taking into account the limitations on exercise contained in the Warrants, the Credit Value Entities would not beneficially
own any shares after the offering.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt"></TD><TD>None of the Credit Value Entities is affiliated with the Candlewood Entities (see footnote 1).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(11)</TD><TD>Represents shares of common stock issuable upon exercise of the Warrants.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(12)</TD><TD>Represents (i) 31,389 shares of common stock issuable upon exercise of the Warrants and (ii) 8,981 shares of common stock issuable,
at our election, in payment of interest on the Notes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(13)</TD><TD>Represents shares of common stock issuable upon exercise of the Warrants.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27.35pt">(14)</TD><TD>Represents (i) 31,395 shares of common stock issuable upon exercise of the Warrants and (ii) 8,983 shares of common stock issuable,
at our election, in payment of interest on the Notes.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 93; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Transactions Through Which the Selling Security Holders
Obtained Beneficial Ownership of the Offered Shares </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On January 11, 2013, or Closing Date,
we issued $22,192,491 in aggregate principal amount of Notes and Warrants to purchase an aggregate of 25,630,286 shares of our
common stock to five accredited investors in a private placement transaction, or Financing, for aggregate gross proceeds of $22,192,491,
under the terms of a Securities Purchase Agreement, dated as of December 19, 2012, or Purchase Agreement, as more fully described
below. Under the terms of the Purchase Agreement, each selling security holder purchased a Note and Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Of the 33,000,000 shares of common stock
offered by the selling security holders under this prospectus, 25,630,286 shares of common stock are issuable upon exercise of
the Warrants and 7,369,714 shares of common stock are issuable in payment of interest on the Notes. The Notes and Warrants were
acquired from us in connection with the transaction described below in &ldquo;Description of Note and Warrant Financing.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Subject to the satisfaction of the Equity
Conditions (as defined below), we may, at our option, elect to pay interest due and payable on the Notes on any Interest Payment
Date (as defined below) in shares of our common stock, or Interest Shares. The Warrants are exercisable into shares of our common
stock, or as exercised, the Warrant Shares. The exercise price applicable to the Warrants is subject to weighted-average anti-dilution
protection in the event that we issue or are deemed to have issued certain securities at a price lower than applicable the then
applicable exercise price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In connection with the issuance of the
Notes and Warrants, we paid commissions to Lazard Capital Markets LLC in the amount of $100,000 and expenses of approximately $371.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In connection with the sale of the Notes
and the Warrants, we entered into a registration rights agreement, or Registration Rights Agreement, with all of the selling security
holders to file a registration statement with the Securities and Exchange Commission by February 10, 2013 for the resale by the
selling security holders of 7,369,714 Interest Shares and 25,630,286 Warrant Shares. We are required to use commercially reasonable
best efforts to have such registration statement declared effective by the Securities and Exchange Commission within ninety (90)
days after the filing of such registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We are obligated to use commercially
reasonable best efforts to keep a registration statement we file in compliance with our obligations under the Registration Rights
Agreement effective (and the prospectus contained therein available for use) for resales by the selling security holders on a delayed
or continuous basis at then-prevailing market prices at all times until the earlier of (i) the date on which all of the shares
of common stock covered by the registration statement have been sold, (ii) the date on which all of the shares of common stock
covered by the registration statement may be sold without restriction pursuant to Rule 144 of the Securities Act (including, without
limitation, volume restrictions and without the need for current public information required by Rule 144(c), if applicable) or
(iii) the date on which all of the Warrants have expired or been fully exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Registration Rights Agreement contains
various indemnification provisions in connection with the registration of the Interest Shares and Warrants Shares.</P>

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

<!-- Field: Page; Sequence: 94; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0"><B>Our Relationships with the Selling Security Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In the past three years, we have not
had any relationship or arrangement with any of the selling security holders, their affiliates, or any person with whom the selling
security holders have a contractual relationship regarding the Financing other than as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>On April 16, 2010, the Plant Owners filed the Plan, with the Bankruptcy Court, which was structured in cooperation with
a number of the Plant Owners&rsquo; secured lenders, including certain of the selling security holders and their affiliates. The
Bankruptcy Court confirmed the Plan at a hearing on June 8, 2010. On June 29, 2010, or Effective Date, the Plant Owners emerged
from bankruptcy under the terms of the Plan. Under the Plan, on the Effective Date, all of the ownership interests in the Plant
Owners were transferred to New PE Holdco, which was wholly-owned as of that date by some of the prepetition lenders (including
certain of the selling security holders and their affiliates) to the Plant Owners and new lenders (including certain of the selling
security holders and their affiliates) to the Plant Owners. As a result, the Pacific Ethanol Plants became wholly-owned by New
PE Holdco as of the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Symbol"></FONT>Certain
of the selling security holders and certain affiliates of the selling security holders are lenders under the terms of the Plant
Owners&rsquo; credit facilities. See &ldquo;Liquidity and Capital Resources&mdash;Plant Owners&rsquo; Credit Facilities&rdquo;
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October 6, 2010, we purchased 80
units of New PE Holdco from Candlewood Special Situations Fund, L.P. for an aggregate purchase price of $8,880,000 in cash.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In December 2011, we purchased 50 units
of New PE Holdco from Candlewood Special Situations Fund, L.P. for an aggregate purchase price of $3,250,000 in cash.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December 13, 2011, Candlewood Special
Situations Fund, L.P. purchased 435,000 shares of our common stock and warrants to purchase an aggregate of 282,750 shares of
our common stock in a private placement transaction for an aggregate purchase price of $456,750.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July 3, 2012, we completed a public
offering, described in our prospectus supplement dated June 28, 2012 to our prospectus dated May 17, 2012 (File No. 333-180731),
in which (i) Candlewood Special Situations Fund, L.P. purchased 1,227,625 shares of our common stock and warrants to purchase
an aggregate of 1,841,438 shares of our common stock for an aggregate purchase price of $527,879 and (ii) Credit Suisse Securities
(USA) LLC purchased 1,306,836 shares of our common stock and warrants to purchase an aggregate of 1,960,253 shares of our common
stock for an aggregate purchase price of $561,939.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July 13, 2012, we purchased (i)
92.719 units of New PE Holdco from Credit Suisse Securities (USA) LLC for an aggregate purchase price of approximately $5.6 million,
with approximately $2.8 million paid in cash and approximately $2.8 million paid in our senior unsecured notes dated July 13,
2012 and (ii) 87.100 units of New PE Holdco from Candlewood Special Situations Fund, L.P. for an aggregate purchase price of approximately
$5.3 million, with approximately $2.6 million paid in cash and approximately $2.6 million paid in our senior unsecured notes dated
July 13, 2012. On October 1, 2012, we fully repaid the senior unsecured notes we issued to Credit Suisse Securities (USA) LLC
and Candlewood Special Situations Fund, L.P. on July 13, 2012.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January 11, 2013, using the cash
proceeds of the Financing and cash, we purchased (i) 60.062 units of New PE Holdco from Candlewood Special Situations Fund, LP
for an aggregate purchase price of $600,620 in cash, (ii) 5.409 units of New PE Holdco from CCVF PacEth LLC for an aggregate purchase
price of $54,090 in cash, (iii) 5.410 units of New PE Holdco from Candlewood Credit Value Fund II, LP for an aggregate purchase
price of $54,100 in cash and (iv) 59.893 units of New PE Holdco from Credit Suisse Securities (USA) LLC for an aggregate purchase
price of $598,930 in cash.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January 11, 2013, we used $21,538,597
of the gross proceeds of the Financing to purchase (i) $368,388 of the Tranche A-2 Loan from CWD OC 522 Master Fund, Ltd., (ii)
$10,209,414 of the Tranche A-2 Loan from Candlewood Special Situations Master Fund, Ltd. and (iii) $10,960,795 of the Tranche
A-2 Loan from Credit Suisse Loan Funding LLC, an affiliate of Credit Suisse Securities (USA) LLC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"></P>

<!-- Field: Page; Sequence: 95; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->94<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.75in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.75in"><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-transform: uppercase; text-align: center"><B>PLAN<FONT STYLE="text-transform: none">
OF DISTRIBUTION</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-indent: 0.5in">We are registering the shares of common
stock issuable pursuant to the terms of the Notes and exercise of the Warrants issued in the Financing to permit the resale of
these shares of common stock by the holders of the Notes and Warrants from time to time after the date of this prospectus. We will
not receive any of the proceeds from the sale by the selling security holders of the shares of common stock. We will bear all fees
and expenses incident to our obligation to register the shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The selling security holders may sell
all or a portion of the shares of common stock held by them and offered hereby from time to time directly or through one or more
underwriters, broker-dealers or agents. If the shares of common stock are sold through underwriters or broker-dealers, the selling
security holders will be responsible for underwriting discounts or commissions or agent&rsquo;s commissions. The shares of common
stock may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at varying
prices determined at the time of sale or at negotiated prices. These sales may be effected in transactions, which may involve crosses
or block transactions, pursuant to one or more of the following methods:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>on any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>in the over-the-counter market;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>in transactions otherwise than on these exchanges or systems or in the over-the-counter market;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>through the writing or settlement of options, whether such options are listed on an options exchange or otherwise;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the
block as principal to facilitate the transaction;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>purchases by a broker-dealer as principal and resale by the broker-dealer for its account;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exchange distribution in accordance with the rules of the applicable exchange;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>privately negotiated transactions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>short sales made after the date the registration statement, of which this prospectus forms a part, is declared effective by
the SEC;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>broker-dealers may agree with the selling security holders to sell a specified number of such shares at a stipulated price
per share;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a combination of any such methods of sale; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any other method permitted pursuant to applicable law.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 96; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->95<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-indent: 0.5in">The selling security holders may also
sell shares of common stock under Rule 144 promulgated under the Securities Act of 1933, as amended, if available, rather than
under this prospectus. In addition, the selling security holders may transfer the shares of common stock by other means not described
in this prospectus. If the selling security holders effect such transactions by selling shares of common stock to or through underwriters,
broker-dealers or agents, such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions
or commissions from the selling security holders or commissions from purchasers of the shares of common stock for whom they may
act as agent or to whom they may sell as principal (which discounts, concessions or commissions as to particular underwriters,
broker-dealers or agents may be in excess of those customary in the types of transactions involved). In connection with sales of
the shares of common stock or otherwise, the selling security holders may enter into hedging transactions with broker-dealers,
which may in turn engage in short sales of the shares of common stock in the course of hedging in positions they assume. The selling
security holders may also sell shares of common stock short and deliver shares of common stock covered by this prospectus to close
out short positions and to return borrowed shares in connection with such short sales. The selling security holders may also loan
or pledge shares of common stock to broker-dealers that in turn may sell such shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The selling security holders may pledge
or grant a security interest in some or all of the notes, warrants or shares of common stock owned by them and, if they default
in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock
from time to time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other applicable provision
of the Securities Act amending, if necessary, the list of selling security holders to include the pledgee, transferee or other
successors in interest as selling security holders under this prospectus. The selling security holders also may transfer and donate
the shares of common stock in other circumstances in which case the transferees, donees, pledgees or other successors in interest
will be the selling beneficial owners for purposes of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">To the extent required by the Securities
Act and the rules and regulations thereunder, the selling security holders and any broker-dealer participating in the distribution
of the shares of common stock may be deemed to be &ldquo;underwriters&rdquo; within the meaning of the Securities Act, and any
commission paid, or any discounts or concessions allowed to, any such broker-dealer may be deemed to be underwriting commissions
or discounts under the Securities Act. At the time a particular offering of the shares of common stock is made, a prospectus supplement,
if required, will be distributed, which will set forth the aggregate amount of shares of common stock being offered and the terms
of the offering, including the name or names of any broker-dealers or agents, any discounts, commissions and other terms constituting
compensation from the selling security holders and any discounts, commissions or concessions allowed or re-allowed or paid to broker-dealers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Under the securities laws of some states,
the shares of common stock may be sold in such states only through registered or licensed brokers or dealers. In addition, in some
states the shares of common stock may not be sold unless such shares have been registered or qualified for sale in such state or
an exemption from registration or qualification is available and is complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">There can be no assurance that any selling
security holder will sell any or all of the shares of common stock registered pursuant to the registration statement, of which
this prospectus forms a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The selling security holders and any
other person participating in such distribution will be subject to applicable provisions of the Securities Exchange Act of 1934,
as amended, and the rules and regulations thereunder, including, without limitation, to the extent applicable, Regulation M of
the Exchange Act, which may limit the timing of purchases and sales of any of the shares of common stock by the selling security
holders and any other participating person. To the extent applicable, Regulation M may also restrict the ability of any person
engaged in the distribution of the shares of common stock to engage in market-making activities with respect to the shares of common
stock. All of the foregoing may affect the marketability of the shares of common stock and the ability of any person or entity
to engage in market-making activities with respect to the shares of common stock.</P>

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

<!-- Field: Page; Sequence: 97; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->96<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">We will pay all expenses of the registration
of the shares of common stock pursuant to the registration rights agreement, estimated to be $100,000 in total, including, without
limitation, Securities and Exchange Commission filing fees and expenses of compliance with state securities or &ldquo;blue sky&rdquo;
laws; <U>provided</U>, <U>however</U>, that a selling security holder will pay all underwriting discounts and selling commissions,
if any. We will indemnify the selling security holders against liabilities, including some liabilities under the Securities Act
in accordance with the registration rights agreements or the selling security holders will be entitled to contribution. We may
be indemnified by the selling security holders against civil liabilities, including liabilities under the Securities Act that may
arise from any written information furnished to us by the selling security holder specifically for use in this prospectus, in accordance
with the related registration rights agreements or we may be entitled to contribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Once sold under the registration statement,
of which this prospectus forms a part, the shares of common stock will be freely tradable in the hands of persons other than our
affiliates.</P>

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

<!-- Field: Page; Sequence: 98; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->97<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">Description<FONT STYLE="text-transform: none">
OF NOTE AND WARRANT FINANCING</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On January 11, 2013, we raised $22,192,491
through the issuance of $22,192,491 in aggregate principal amount of Notes and Warrants to purchase an aggregate of 25,630,286
shares of our common stock in the Financing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On January 11, 2013, using $21.5 million
of the gross proceeds of the Financing, we purchased $21.5 million of the Plant Owners&rsquo; term debt. On January 11, 2013, we
also purchased an additional 13% ownership interest in New PE Holdco, using $653,895 of the gross proceeds of the Financing and
$654,135 in cash.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Notes were issued on January 11,
2013 and have an aggregate principal amount of $22,192,491. The Notes mature on March 30, 2016, or Maturity Date. The Notes bear
interest at the rate of 5% per annum, subject to adjustment.&nbsp;&nbsp;If the aggregate outstanding principal balance of the Notes
is not less than $10,769,298 by January 15, 2014, the interest rate will increase commencing on January 15, 2014 by 1% per annum
on each calendar January 15, April 15, July 15 and October 15 until the aggregate outstanding principal balance of the Notes is
less than $10,769,298, or 2014 Rate Increases. The interest rate will also increase by an additional 2% per annum above the interest
rate otherwise applicable upon the occurrence, and during the continuance, of an event of default (as described below) until such
event of default has been cured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Payment of Principal and Optional
Prepayment</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We are required to pay all outstanding
principal and any accrued and unpaid interest on the Notes on the Maturity Date. We may, at our option, prepay the Notes at any
time without premium or penalty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Mandatory Prepayment</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">If at any time we receive net cash proceeds
from an issuance of our equity or equity linked securities, certain sales of our or any of our wholly or partially owned subsidiaries
assets or as a result of us or any of our wholly or partially owned subsidiaries incurring certain indebtedness, then we will be
obligated to prepay the Notes using 100% of all such net cash proceeds, provided that in connection with proceeds received in connection
with an equity linked security, we will be obligated to use all such net cash proceeds to either prepay the Notes or purchase outstanding
debt issued by indirect partially owned subsidiaries under the Plant Owners amended and restated credit facility. See &ldquo;Management&rsquo;s
Discussion and Analysis of Financial Condition and Results of Operations&mdash;Liquidity and Capital Resources&mdash;Plant Owners&rsquo;
Credit Facilities&mdash;Amended and Restated Credit Facility&rdquo; above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Payments of Interest &ndash; Interest
Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Interest on the Notes is payable in cash
in arrears on the 15th calendar day of each month, or Interest Payment Date, beginning on March 15, 2013. Subject to the satisfaction
of the Equity Conditions (as defined below), at our option, we may elect to pay interest due and payable on any Interest Payment
Date in shares of our common stock, provided that the interest rate applicable to any outstanding amounts that we pay in Interest
Shares shall increase by 2% per annum from the then applicable interest rate for the period for which such interest is paid. The
number of Interest Shares to be issued, at our election, on any particular Interest Payment Date shall be equal to the quotient
of (x) the amount of interest payable (assuming payment in Interest Shares) on such Interest Payment Date divided by (y) the product
of (i) the weighted average price of our common stock for 30 trading days immediately preceding (but excluding) the Interest Payment
Date and (ii) 0.95.</P>

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

<!-- Field: Page; Sequence: 99; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->98<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">For any Interest Payment Date on which
we elect to pay interest in Interest Shares in lieu of in cash, we are required to deliver a written notice, or Interest Notice,
to each holder of the Notes on or prior to the third trading day prior to the Interest Payment Date, or the Interest Notice Date.
If all of the Equity Conditions (as defined below) have not been satisfied as of the Interest Notice Date, then unless the holder
of the Note waives such failure, interest must be paid in cash. If we elect to pay the applicable interest in Interest Shares and
if the Equity Conditions were satisfied as of the applicable Interest Notice Date but are not satisfied as of the Interest Payment
Date, then, unless the holder of the Note waives such failure, interest must be paid in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In order for the interest to be paid
in Interest Shares, all of the following conditions must be satisfied (or waived by the investors) during the five trading days
prior to the applicable date (collectively, the &ldquo;Equity Conditions&rdquo;):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Interest Shares are either (i) covered by an effective registration statement and the prospectus contained therein shall
be available for the resale of the Interest Shares and we shall not have had knowledge of any fact that would cause such registration
statement not to be effective and available for the resale of the Interest Shares or (ii) are eligible for resale without restriction
under Rule&nbsp;144 of the Securities Act and without the need for registration under any applicable federal or state securities
laws and we shall not have had knowledge of any fact that would cause the Interest Shares not to be eligible for sale pursuant
to Rule 144 of the Securities Act and any applicable state securities laws;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Our common stock shall have been listed or designated for quotation on an exchange or market permitted by the Notes (including
The NASDAQ Capital Market) and shall not have been suspended from trading on such exchange or market (other than suspensions of
not more than two days due to business announcements by us), nor shall delisting or suspension by such exchange or market been
threatened or pending either in writing by such exchange or market (provided, that, until June 3, 2013, the pending or threatened
delisting of our common stock as a result of the failure to maintain a $1.00 minimum share price shall be disregarded);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Interest Shares may be issued without violating the regulations of the eligible exchange or market on which our common
stock is then listed or designated for quotation, including NASDAQ Listing Rule 5635(d);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>There shall not have been (i) a public announcement of a proposed fundamental transaction, (ii) an event of default under the
Notes or (iii) an event that after the passage of time would constitute a event of default under the Notes;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The issuance of the Interest Shares will not result in the holder of the Note beneficially owning in excess of 4.99% of our
outstanding shares of common stock (which limit may be raised to an amount not in excess of 9.99%, at the option of the holder
with prior notice to Pacific Ethanol);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We shall have delivered Interest Shares on a timely basis;</TD></TR></TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 100; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->99<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We shall not have publicly announced that certain types of transactions involving a change of control are pending, proposed
or intended that have not been abandoned, terminated or consummated;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>No event shall have occurred that constitutes, or with the passage of time or giving of notice would constitute, an event of
default under the Notes; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We shall be in compliance with and shall not have breached any provision, covenant, representation or warranty of any transaction
document to which we became party in connection with the Financing;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Interest Shares shall be duly authorized; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The holder of the Note must not be in possession of any material, non-public information relating to us (other than certain
material, non-public information relating to Pacific Ethanol provided to the holder of the Note in accordance with the terms of
the Note).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">If we cannot make an interest payment
in shares of common stock because one of the conditions described above is not satisfied, we must make the interest payment in
cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We have agreed not to issue more than
3,289,727 Interest Shares unless we have obtained either (i) stockholder approval pursuant to NASDAQ Listing Rule 5635(d) for the
issuance of more than 28,920,013 shares of our common stock upon exercise of the Warrants and in payment of interest on the Notes
or (ii) a waiver from NASDAQ of compliance with Rule 5635(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Events of Default</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Notes contain a variety of events
of default which are typical for transactions of this type. A holder of a Note may declare all amounts owed under the holder&rsquo;s
Note due and payable if there is an event of default; in addition, the all amounts owed the Notes will become immediately due and
payable upon certain events of default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Covenants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Notes contain a variety of obligations
on the part of Pacific Ethanol not to engage in certain activities, which are typical for transactions of this type, as well as
the following covenants:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The payments due under the Notes will rank senior to all of our other indebtedness and the indebtedness of our subsidiaries,
other than permitted senior indebtedness;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We and our subsidiaries will not incur other indebtedness, except for certain permitted indebtedness;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We and our subsidiaries will not incur any liens, except for certain permitted liens;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We and our subsidiaries will not, directly or indirectly, redeem or repay all or any portion of any indebtedness (except for
certain permitted indebtedness) if at the time such payment is due or is made or, after giving effect to such payment, an event
constituting, or that with the passage of time and without being cured would constitute, an event of default has occurred and is
continuing;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We and our subsidiaries will not redeem, repurchase or pay any dividend or distribution on our or its respective capital stock
without the prior consent of the holders of the Notes, other than certain permitted distributions; and</TD></TR></TABLE>

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

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

<!-- Field: Page; Sequence: 101; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We and our subsidiaries will not sell, lease, assign, transfer or otherwise dispose of any assets of Pacific Ethanol or any
of its subsidiaries, except for certain permitted dispositions (including the sales of inventory or receivables in the ordinary
course of business).</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Warrants were issued on January 11,
2013, were immediately exercisable and, in the aggregate, entitle the holders to purchase up to an aggregate of 25,630,286 Warrant
Shares for a period of five years at an exercise price of $0.52 per share, or Warrant Exercise Price, subject to adjustment.&nbsp;&nbsp;The
Warrants include both cash and cashless exercise provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Warrant Exercise Price is subject
to adjustment for stock splits, combinations or similar events, and, in such event, the number of shares issuable upon the exercise
of the Warrant will also be adjusted such that the aggregate Warrant Exercise Price will be the same immediately before and immediately
after the adjustment.&nbsp;&nbsp;In addition, the Warrant Exercise Price is also subject to a &ldquo;weighted-average&rdquo; anti-dilution
adjustment in the event that we issue or are deemed to have issued certain securities at a price lower than the then applicable
Warrant Exercise Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Warrants impose penalties on us for
failure to timely deliver Warrant Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Under the terms of the Warrants, each
investor is prohibited from exercising a Warrant to the extent that, as a result of the exercise, the investor will beneficially
own in excess of 4.99% of our outstanding shares of our common stock (which limit may be lowered or raised to an amount not in
excess of 9.99%, in either case at the option of the holder, provided that any increase will only be effective upon 61-days&rsquo;
prior notice to us).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">If we issue options, convertible securities,
warrants, stock, or similar securities to all holders of shares of our common stock, each holder of a Warrant will have the right
to acquire the same securities as if it had exercised its Warrant. If we make a distribution of our assets to all holders of shares
of our common stock, each holder of a Warrant will have the right to acquire the same assets as if it had exercised its Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Warrants contain provisions prohibiting
us from entering into certain transactions involving a change of control, unless the successor assumes in writing all of our obligations
under the Warrants.&nbsp;&nbsp;Upon the occurrence of a transaction involving a permitted change of control, the holders of the
Warrants will have the right, among others, to have the Warrants repurchased for a purchase price in cash equal to the Black Scholes
value (as calculated pursuant to the Warrants) of the then unexercised portion of the Warrants.</P>

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

<!-- Field: Page; Sequence: 102; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Authorized and Outstanding Capital Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our authorized capital stock consists
of 300,000,000 shares of common stock, $0.001 par value per share, and 10,000,000 shares of preferred stock, $0.001 par value per
share, of which 1,684,375 shares are designated as Series&nbsp;A Preferred Stock and 1,580,790 shares are designated as Series&nbsp;B
Preferred Stock. As of February 6, 2013, there were 149,203,614 shares of common stock, no shares of Series A Preferred Stock and
926,942 shares of Series B Preferred Stock issued and outstanding. On June 8, 2011, we effected a one-for-seven reverse split of
our common stock. All share information contained in this prospectus reflects the effect of this reverse stock split. The following
description of our capital stock does not purport to be complete and should be reviewed in conjunction with our certificate of
incorporation, including our Certificate of Designations, Powers, Preferences and Rights of the Series&nbsp;A Preferred Stock,
or Series A Certificate of Designations, our Certificate of Designations, Powers, Preferences and Rights of the Series&nbsp;B Preferred
Stock, or Series&nbsp;B Certificate of Designations, and our bylaws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">All outstanding shares of common stock
are fully paid and nonassessable. The following summarizes the rights of holders of our common stock:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>each holder of common stock is entitled to one vote per share on all matters to be voted upon generally by the stockholders;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>subject to preferences that may apply to shares of preferred stock outstanding, the holders of common stock are entitled to
receive lawful dividends as may be declared by our board of directors, or Board;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>upon our liquidation, dissolution or winding up, the holders of shares of common stock are entitled to receive a pro rata portion
of all our assets remaining for distribution after satisfaction of all our liabilities and the payment of any liquidation preference
of any outstanding preferred stock;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>there are no redemption or sinking fund provisions applicable to our common stock; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>there are no preemptive or conversion rights applicable to our common stock.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our Board is authorized to issue from
time to time, in one or more designated series, any or all of our authorized but unissued shares of preferred stock with dividend,
redemption, conversion, exchange, voting and other provisions as may be provided in that particular series. The issuance need not
be approved by our common stockholders and need only be approved by holders, if any, of our Series A Preferred Stock and Series
B Preferred Stock if, as described below, the shares of preferred stock to be issued have preferences that are senior to or on
parity with those of our Series A Preferred Stock and Series B Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The rights of the holders of our common
stock, Series A Preferred Stock and Series B Preferred Stock will be subject to, and may be adversely affected by, the rights of
the holders of any preferred stock that may be issued in the future. Issuance of a new series of preferred stock, while providing
desirable flexibility in connection with possible acquisitions and other corporate purposes, could have the effect of entrenching
our Board and making it more difficult for a third-party to acquire, or discourage a third-party from acquiring, a majority of
our outstanding voting stock. The following is a summary of the terms of the Series A Preferred Stock and the Series B Preferred
Stock.</P>

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

<!-- Field: Page; Sequence: 103; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0"><B>Series B Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">As of February 6, 2013, 926,942 shares
of Series B Preferred Stock were issued and outstanding and an aggregate of 1,419,210 shares of Series B Preferred Stock had been
converted into shares of our common stock. The converted shares of Series B Preferred Stock have been returned to undesignated
preferred stock. A balance of 653,848 shares of Series B Preferred Stock remain authorized for issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Rank and Liquidation Preference</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Shares of Series B Preferred Stock rank
prior to our common stock as to distribution of assets upon liquidation events, which include a liquidation, dissolution or winding
up of Pacific Ethanol, whether voluntary or involuntary. The liquidation preference of each share of Series B Preferred Stock is
equal to $19.50, or Series B Issue Price, plus any accrued but unpaid dividends on the Series B Preferred Stock. If assets remain
after the amounts are distributed to the holders of Series B Preferred Stock, the assets shall be distributed pro rata, on an as-converted
to common stock basis, to the holders of our common stock and Series B Preferred Stock. The written consent of a majority of the
outstanding shares of Series B Preferred Stock is required before we can authorize the issuance of any class or series of capital
stock that ranks senior to or on parity with shares of Series B Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Dividend Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">As long as shares of Series B Preferred
Stock remain outstanding, each holder of shares of Series B Preferred Stock are entitled to receive, and shall be paid quarterly
in arrears, in cash out of funds legally available therefor, cumulative dividends, in an amount equal to 7.0% of the Series B Issue
Price per share per annum with respect to each share of Series B Preferred Stock. The dividends may, at our option, be paid in
shares of Series B Preferred Stock valued at the Series B Issue Price. In the event we declare, order, pay or make a dividend or
other distribution on our common stock, other than a dividend or distribution made in common stock, the holders of the Series B
Preferred Stock shall be entitled to receive with respect to each share of Series B Preferred Stock held, any dividend or distribution
that would be received by a holder of the number of shares of our common stock into which the Series B Preferred Stock is convertible
on the record date for the dividend or distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Series B Preferred Stock ranks pari
passu with respect to dividends and liquidation rights with the Series A Preferred Stock and pari passu with respect to any class
or series of capital stock specifically ranking on parity with the Series B Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Optional Conversion Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Each share of Series B Preferred Stock
is convertible at the option of the holder into shares of our common stock at any time. Each share of Series B Preferred Stock
is convertible into the number of shares of common stock as calculated by multiplying the number of shares of Series B Preferred
Stock to be converted by the Series B Issue Price, and dividing the result thereof by the Conversion Price. The &ldquo;Conversion
Price&rdquo; was initially $45.50 per share of Series B Preferred Stock, subject to adjustment; therefore, each share of Series
B Preferred Stock was initially convertible into 0.43 shares of common stock, which number is equal to the quotient of the Series
B Issue Price of $19.50 divided by the initial Conversion Price of $45.50 per share of Series B Preferred Stock. Accrued and unpaid
dividends are to be paid in cash upon any conversion.</P>

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

<!-- Field: Page; Sequence: 104; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>Mandatory Conversion Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In the event of a Transaction which will
result in an internal rate of return to holders of Series B Preferred Stock of 25% or more, each share of Series B Preferred Stock
shall, concurrently with the closing of the Transaction, be converted into shares of common stock. A &ldquo;Transaction&rdquo;
is defined as a sale, lease, conveyance or disposition of all or substantially all of our capital stock or assets or a merger,
consolidation, share exchange, reorganization or other transaction or series of related transactions (whether involving us or a
subsidiary) in which the stockholders immediately prior to the transaction do not retain a majority of the voting power in the
surviving entity. Any mandatory conversion will be made into the number of shares of common stock determined on the same basis
as the optional conversion rights above. Accrued and unpaid dividends are to be paid in cash upon any conversion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">No shares of Series B Preferred Stock
will be converted into common stock on a mandatory basis unless at the time of the proposed conversion we have on file with the
Securities and Exchange Commission an effective registration statement with respect to the shares of common stock issued or issuable
to the holders on conversion of the Series B Preferred Stock then issued or issuable to the holders and the shares of common stock
are eligible for trading on The NASDAQ Stock Market (or approved by and listed on a stock exchange approved by the holders of 66
2/3% of the then outstanding shares of Series B Preferred Stock).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Conversion Price Adjustments</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Conversion Price is subject to customary
adjustment for stock splits, stock combinations, stock dividends, mergers, consolidations, reorganizations, share exchanges, reclassifications,
distributions of assets and issuances of convertible securities, and the like. The Conversion Price is also subject to downward
adjustments if we issue shares of common stock or securities convertible into or exercisable for shares of common stock, other
than specified excluded securities, at per share prices less than the then effective Conversion Price. In this event, the Conversion
Price shall be reduced to the price determined by dividing (i) an amount equal to the sum of (a) the number of shares of common
stock outstanding immediately prior to the issue or sale multiplied by the then existing Conversion Price, and (b) the consideration,
if any, received by us upon such issue or sale, by (ii) the total number of shares of common stock outstanding immediately after
the issue or sale. For purposes of determining the number of shares of common stock outstanding as provided in clauses (i) and
(ii) above, the number of shares of common stock issuable upon conversion of all outstanding shares of Series B Preferred Stock,
and the exercise of all outstanding securities convertible into or exercisable for shares of common stock, will be deemed to be
outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Conversion Price will not be adjusted
in the case of the issuance or sale of the following: (i) securities issued to our employees, officers or directors or options
to purchase common stock granted by us to our employees, officers or directors under any option plan, agreement or other arrangement
duly adopted by us and the grant of which is approved by the compensation committee of our Board; (ii) the Series B Preferred Stock
and any common stock issued upon conversion of the Series B Preferred Stock; (iii) securities issued on the conversion of any convertible
securities, in each case, outstanding on the date of the filing of the Series B Certificate of Designations; and (iv) securities
issued in connection with a stock split, stock dividend, combination, reorganization, recapitalization or other similar event for
which adjustment is made in accordance with the foregoing.</P>

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

<!-- Field: Page; Sequence: 105; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->104<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.25in"><B><I>Voting Rights and Protective Provisions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Series B Preferred Stock votes together
with all other classes and series of our voting stock as a single class on all actions to be taken by our stockholders. Each share
of Series B Preferred Stock entitles the holder thereof to the number of votes equal to the number of shares of common stock into
which each share of Series B Preferred Stock is convertible on all matters to be voted on by our stockholders, however, the number
of votes for each share of Series B Preferred Stock may not exceed the number of shares of common stock into which each share of
Series B Preferred Stock would be convertible if the applicable Conversion Price were $45.50 (subject to appropriate adjustment
for stock splits, stock dividends, combinations and other similar recapitalizations affecting the shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We are not permitted, without first obtaining
the written consent of the holders of at least a majority of the then outstanding shares of Series B Preferred Stock voting as
a separate class, to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>increase or decrease the total number of authorized shares of Series B Preferred Stock or the authorized shares of our common
stock reserved for issuance upon conversion of the Series B Preferred Stock (except as otherwise required by our certificate of
incorporation or the Series B Certificate of Designations);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>increase or decrease the number of authorized shares of preferred stock or common stock (except as otherwise required by our
certificate of incorporation or the Series B Certificate of Designations);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>alter, amend, repeal, substitute or waive any provision of our certificate of incorporation or our bylaws, so as to affect
adversely the voting powers, preferences or other rights, including the liquidation preferences, dividend rights, conversion rights,
redemption rights or any reduction in the stated value of the Series B Preferred Stock, whether by merger, consolidation or otherwise;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>authorize, create, issue or sell any securities senior to or on parity with the Series B Preferred Stock or securities that
are convertible into securities senior to or on parity the Series B Preferred Stock with respect to voting, dividend, liquidation
or redemption rights, including subordinated debt;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>authorize, create, issue or sell any securities junior to the Series B Preferred Stock other than common stock or securities
that are convertible into securities junior to Series B Preferred Stock other than common stock with respect to voting, dividend,
liquidation or redemption rights, including subordinated debt;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>authorize, create, issue or sell any additional shares of Series B Preferred Stock other than the Series B Preferred Stock
initially authorized, created, issued and sold, Series B Preferred Stock issued as payment of dividends and Series B Preferred
Stock issued in replacement or exchange therefore;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>engage in a Transaction that would result in an internal rate of return to holders of Series B Preferred Stock of less than
25%;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>declare or pay any dividends or distributions on our capital stock in a cumulative amount in excess of the dividends and distributions
paid on the Series B Preferred Stock in accordance with the Series B Certificate of Designations;</TD></TR></TABLE>

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

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

<!-- Field: Page; Sequence: 106; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->105<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>authorize or effect the voluntary liquidation, dissolution, recapitalization, reorganization or winding up of our business;
or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>purchase, redeem or otherwise acquire any of our capital stock other than Series B Preferred Stock, or any warrants or other
rights to subscribe for or to purchase, or any options for the purchase of, our capital stock or securities convertible into or
exchangeable for our capital stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Reservation of Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We initially were required to reserve
3,000,000 shares of common stock for issuance upon conversion of shares of Series B Preferred Stock and are required to maintain
a sufficient number of reserved shares of common stock to allow for the conversion of all shares of Series B Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">As of February 6, 2013, no shares of
Series A Preferred Stock were issued and outstanding and an aggregate of 5,315,625 shares of Series A Preferred Stock had been
converted into shares of our common stock and returned to undesignated preferred stock. A balance of 1,684,375 shares of Series
A Preferred Stock remain authorized for issuance. The rights and preferences of the Series A Preferred Stock are substantially
the same as the Series B Preferred Stock, except as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the Series A Issue Price, on which the Series A Preferred Stock liquidation preference is based, is $16.00 per share;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>dividends accrue and are payable at a rate per annum of 5.0% of the Series A Issue Price per share;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>each share of Series A Preferred Stock is convertible at a rate equal to the Series A Issue Price divided by an initial Conversion
Price of $56.00 per share;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>holders of the Series A Preferred Stock have a number of votes equal to the number of shares of common stock into which each
share of Series A Preferred Stock is convertible on all matters to be voted on by our stockholders, voting together as a single
class; provided, however, that the number of votes for each share of Series A Preferred Stock shall not exceed the number of shares
of common stock into which each share of Series A Preferred Stock would be convertible if the applicable Conversion Price were
$62.93 (subject to appropriate adjustment for stock splits, stock dividends, combinations and other similar recapitalizations affecting
the shares); and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>we are not permitted, without first obtaining the written consent of the holders of at least a majority of the then outstanding
shares of Series A Preferred Stock voting as a separate class, to:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>change the number of members of our Board to be more than nine members or less than seven members;</TD></TR></TABLE>

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

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

<!-- Field: Page; Sequence: 107; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->106<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>effect any material change in our industry focus or that of our subsidiaries, considered on a consolidated basis;</TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>authorize or engage in, or permit any subsidiary to authorize or engage in, any transaction or series of transactions with
one of our or our subsidiaries&rsquo; current or former officers, directors or members with value in excess of $100,000, excluding
compensation or the grant of options approved by our Board; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>authorize or engage in, or permit any subsidiary to authorize or engage in, any transaction with any entity or person that
is affiliated with any of our or our subsidiaries&rsquo; current or former directors, officers or members, excluding any director
nominated by the initial holder of the Series B Preferred Stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Preemptive Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Holders of our Series A Preferred Stock
have preemptive rights to purchase a pro rata portion of all capital stock or securities convertible into capital stock that we
issue, sell or exchange, or agree to issue, sell or exchange, or reserve or set aside for issuance, sale or exchange. We must deliver
each holder of our Series A Preferred Stock a written notice of any proposed or intended issuance, sale or exchange of capital
stock or securities convertible into capital stock which must include a description of the securities and the price and other terms
upon which they are to be issued, sold or exchanged together with the identity of the persons or entities (if known) to which or
with which the securities are to be issued, sold or exchanged, and an offer to issue and sell to or exchange with the holder of
the Series A Preferred Stock the holder&rsquo;s pro rata portion of the securities, and any additional amount of the securities
should the other holders of Series A Preferred Stock subscribe for less than the full amounts for which they are entitled to subscribe.
In the case of a public offering of our common stock for a purchase price of at least $12.00 per share and a total gross offering
price of at least $50 million, the preemptive rights of the holders of the Series A Preferred Stock shall be limited to 50% of
the securities. Holders of our Series A Preferred Stock have a 30 day period during which to accept the offer. We will have 90
days from the expiration of this 30 day period to issue, sell or exchange all or any part of the securities as to which the offer
has not been accepted by the holders of the Series A Preferred Stock, but only as to the offerees or purchasers described in the
offer and only upon the terms and conditions that are not more favorable, in the aggregate, to the offerees or purchasers or less
favorable to us than those contained in the offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The preemptive rights of the holders
of the Series A Preferred Stock shall not apply to any of the following securities: (i) securities issued to our employees, officers
or directors or options to purchase common stock granted by us to our employees, officers or directors under any option plan, agreement
or other arrangement duly adopted by us and the grant of which is approved by the compensation committee of our Board; (ii) the
Series A Preferred Stock and any common stock issued upon conversion of the Series A Preferred Stock; (iii) securities issued on
the conversion of any convertible securities, in each case, outstanding on the date of the filing of the Series A Certificate of
Designations; (iv) securities issued in connection with a stock split, stock dividend, combination, reorganization, recapitalization
or other similar event for which adjustment is made in accordance with the Series A Certificate of Designations; and (v) the issuance
of our securities issued for consideration other than cash as a result of a merger, consolidation, acquisition or similar business
combination by us approved by our Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">As of February 6, 2013, we had outstanding
warrants to purchase 101,219,960 shares of our common stock at exercise prices ranging from $0.12 to $49.70 per share. These outstanding
warrants consist of Warrants to purchase an aggregate of 252,101 shares of common stock at an exercise price of $0.12 per share
expiring in 2017, warrants to purchase an aggregate of 13,950,000 shares of common stock at an exercise price of $0.43 per share
expiring in 2014, warrants to purchase an aggregate of 28,000,000 shares of common stock at an exercise price of $0.50 per share
expiring in 2017, warrants to purchase an aggregate of 25,630,286 shares of common stock at an exercise price of $0.52 per share
expiring in 2018, warrants to purchase an aggregate of 27,500,000 shares of common stock at an exercise price of $0.59 per share
expiring in 2015, warrants to purchase an aggregate of 4,956,250 shares of common stock at an exercise price of $0.78 per share
expiring in 2016, warrants to purchase an aggregate of 502,750 shares of common stock at an exercise price of $49.00 per share
expiring in 2018 and warrants to purchase an aggregate of 428,573 shares of common stock at an exercise price of $49.70 per share
expiring in 2013.</P>

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

<!-- Field: Page; Sequence: 108; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->107<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">As of February 6, 2013, we had outstanding
options to purchase 194,774 shares of our common stock at exercise prices ranging from $0.86 to $57.82 per share issued under our
2004 and 2006 Plans.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">A number of holders of shares of our
common stock and all holders of warrants are entitled to rights with respect to the registration of their shares of common stock
and underlying shares of common stock, respectively, under the Securities Act. The registration rights with respect to the shares
of common stock issuable under the Notes are described in the &ldquo;Selling Security Holders&rdquo; section of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Lyles Registration Rights Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">A number of holders of our Series B Preferred
Stock have registration rights under a registration rights agreement dated March 27, 2008, or Series B Registration Rights Agreement,
with respect to shares of common stock issued, issuable or that may be issuable under shares of Series B Preferred Stock and warrants
that were purchased under the terms of a securities purchase agreement dated March 18, 2008 between us and Lyles United, LLC. The
Series B Registration Rights Agreement provides that holders of a majority of the Series B Preferred Stock, including the shares
of common stock into which the Series B Preferred Stock have been converted, may demand at any time that we register on their behalf
the shares of common stock issued, issuable or that may be issuable upon conversion of the Series B Preferred Stock and as payment
of dividends on the Series B Preferred Stock, and upon exercise of the warrants issued in connection with the issuance of the shares
of Series B Preferred Stock. Following such demand, we are required to notify any other parties that are entitled to registration
rights under the Lyles Registration Rights Agreement of our intent to file a registration statement and include them in the related
registration statement upon their request. We are required to keep a registration statement filed under the Lyles Registration
Rights Agreement effective until all shares that are entitled to be registered are sold or can be sold under Rule 144 of the Securities
Act. The holders are entitled to two demand registrations on Form S-1 and an unlimited demand registrations on Form S-3 (except
that we are not obligated to effect more than one demand registration on Form S-3 in any calendar year).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In addition to the demand registration
rights under the Lyles Registration Rights Agreement, the holders are entitled to &ldquo;piggyback&rdquo; registration rights.
These rights entitle the holders who so elect to be included in certain registration statements to be filed by us with respect
to other registrations of equity securities. The holders are entitled to unlimited &ldquo;piggyback&rdquo; registration rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The Lyles Registration Rights Agreement
includes customary cross-indemnity provisions under which we are obligated to indemnify the holders and their affiliates as a result
of losses caused by untrue or allegedly untrue statements of material fact contained or incorporated by reference in any registration
statement under which a holder&rsquo;s shares are registered, including any prospectuses or amendments related thereto. Our indemnity
obligations also apply to omissions of material facts and to any failure on our part to comply with any law, rule or regulation
applicable to such registration statement. Each holder is obligated to indemnify us and our affiliates as a result of losses caused
by untrue or allegedly untrue statements of material fact contained in any registration statement under which their shares are
registered, including any prospectuses or amendments related thereto, which statements were furnished in writing by that holder,
but only to the extent of the net proceeds received by that holder with respect to shares sold under the registration statement.
The holders&rsquo; indemnity obligations also apply to omissions of material facts on the part of the holders.</P>

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

<!-- Field: Page; Sequence: 109; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->108<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">A number of customary limitations to
our registration obligations are included in the Lyles Registration Rights Agreement. These limitations include our right to, in
good faith, delay or withdrawal registrations requested by the holders under demand and &ldquo;piggyback&rdquo; registration rights,
and the right to exclude portions of holders&rsquo; shares upon the advice of its underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We are responsible for all costs of registration,
plus reasonable fees of one legal counsel for the holders, which fees are not to exceed $25,000 per registration. The Lyles Registration
Rights Agreement provides for reasonable access on the part of the holders to all of our books, records and other information and
the opportunity to discuss the same with our management.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Anti-Takeover Effects of Delaware Law and Our Certificate
of Incorporation and Bylaws</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">A number of provisions of Delaware law,
our certificate of incorporation and our bylaws contain provisions that could have the effect of delaying, deferring and discouraging
another party from acquiring control of us. These provisions, which are summarized below, are expected to discourage coercive takeover
practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us
to first negotiate with our board of directors. We believe that the benefits of increased protection of our potential ability to
negotiate with an unfriendly or unsolicited acquiror outweigh the disadvantages of discouraging a proposal to acquire us because
negotiation of these proposals could result in an improvement of their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Undesignated Preferred Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The ability to authorize undesignated
preferred stock makes it possible for our board of directors to issue preferred stock with voting or other rights or preferences
that could impede the success of any attempt to acquire us. These and other provisions may have the effect of deferring hostile
takeovers or delaying changes in control or management of Pacific Ethanol.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.25in"><B><I>Delaware Anti-Takeover Statute</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We are subject to the provisions of Section
203 of the DGCL regulating corporate takeovers. In general, Section 203 prohibits a publicly-held Delaware corporation from engaging,
under specified circumstances, in a business combination with an interested stockholder for a period of three years following the
date the person became an interested stockholder unless:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>prior to the date of the transaction, the board of directors of the corporation approved either the business combination or
the transaction which resulted in the stockholder becoming an interested stockholder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the stockholder owned
at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of
determining the number of shares of voting stock outstanding (but not the outstanding voting stock owned by the stockholder) (1)
shares owned by persons who are directors and also officers and (2) shares owned by employee stock plans in which employee participants
do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange
offer; or</TD></TR></TABLE>

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

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

<!-- Field: Page; Sequence: 110; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->109<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>on or subsequent to the date of the transaction, the business combination is approved by the board and authorized at an annual
or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66&#8532;% of the outstanding
voting stock that is not owned by the interested stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Generally, a business combination includes
a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. An interested
stockholder is a person who, together with affiliates and associates, owns or, within three years prior to the determination of
interested stockholder status, did own 15% or more of a corporation&rsquo;s outstanding voting securities. We expect the existence
of its provision to have an anti-takeover effect with respect to transactions our board of directors does not approve in advance.
We also anticipate that Section 203 may also discourage attempts that might result in a premium over the market price for the shares
of common stock held by stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The provisions of Delaware law, our certificate
of incorporation and our bylaws could have the effect of discouraging others from attempting hostile takeovers and, as a consequence,
they may also inhibit temporary fluctuations in the market price of our common stock that often result from actual or rumored hostile
takeover attempts. These provisions may also have the effect of preventing changes in our management. It is possible that these
provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The transfer agent and registrar for
our common stock is American Stock Transfer &amp; Trust Company, LLC. Its telephone number is (718) 921-8200.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">LEGAL
MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The validity of the shares of common
stock offered under this prospectus will be passed upon by Troutman Sanders LLP, Irvine, California.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">EXPERTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Hein &amp; Associates LLP, independent
registered public accounting firm, has audited our balance sheets as of December 31, 2011 and 2010, and related statements of operations,
stockholders&rsquo; equity (deficit) and cash flows for the years then ended. We have included our financial statements in the
prospectus and elsewhere in the registration statement in reliance on Hein &amp; Associates LLP&rsquo;s report, given on their
authority as experts in accounting and auditing.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-transform: uppercase; text-align: center">WHERE
YOU CAN FIND MORE INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We have filed with the SEC a registration
statement on Form S-1 under the Securities Act, and the rules and regulations promulgated under the Securities Act, with respect
to the common stock offered under this prospectus. This prospectus, which constitutes a part of the registration statement, does
not contain all of the information contained in the registration statement and the exhibits and schedules to the registration statement.
Many of the contracts and documents described in this prospectus are filed as exhibits to the registration statements and you may
review the full text of these contracts and documents by referring to these exhibits.</P>

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

<!-- Field: Page; Sequence: 111; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->110<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">For further information with respect
to us and the common stock offered under this prospectus, reference is made to the registration statement and its exhibits and
schedules. We file reports, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K
with the SEC. The public may read and copy any materials we file with the SEC at the SEC&rsquo;s Public Reference Room at 100 F
Street, N.E., Washington, DC 20549, on official business days during the hours of 10 a.m. to 3 p.m. The registration statement,
including its exhibits and schedules, may be inspected at the Public Reference Room. The public may obtain information on the operation
of the Public Reference Room by calling the SEC at 1-800-SEC-0330.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The SEC maintains an Internet web site
that contains reports, proxy and information statements and other information regarding issuers, including Pacific Ethanol, that
file electronically with the SEC. The SEC&rsquo;s Internet website address is http://www.sec.gov. Our Internet website address
is http://www.pacificethanol.net/.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">We do not anticipate that we will send
an annual report to our stockholders until and unless we are required to do so by the rules of the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">All trademarks or trade names referred
to in this prospectus are the property of their respective owners.</P>

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

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

<!-- Field: Page; Sequence: 112; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->111<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 0">&nbsp;</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PACIFIC ETHANOL, INC.</B><BR>
<BR>
<B>INDEX TO FINANCIAL STATEMENTS</B></P>

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

<TABLE CELLSPACING="3" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 93%; padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">Page</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Consolidated Balance Sheets as of September 30, 2012 (unaudited) and December 31, 2011</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-2</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Consolidated Statements of Operations for the Nine Months Ended September 30, 2011 and 2011 (unaudited)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-4</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2012 and 2011 (unaudited)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-5</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Notes to Consolidated Financial Statements (unaudited) for the Nine Months Ended September 30, 2012</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-6</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Report of Independent Registered Public Accounting Firm</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-20</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Consolidated Balance Sheets as of December 31, 2011 and 2010</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-21</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Consolidated Statements of Operations for the Years Ended December 31, 2011 and 2010</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-23</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Consolidated Statement of Stockholders&rsquo; Equity  for the Years Ended December 31, 2011 and 2010</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-24</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Consolidated Statements of Cash Flows for the Years Ended December 31, 2011 and 2010</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-25</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 10pt; text-indent: -10pt">Notes to Consolidated Financial Statements for the Years Ended December 31, 2011 and 2010</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">F-26</TD></TR>
</TABLE>


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

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

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

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

<!-- Field: Page; Sequence: 113; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PACIFIC ETHANOL, INC.<BR>
CONSOLIDATED BALANCE SHEETS<BR>
(in thousands)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&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="font-weight: bold; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">September 30,</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">December 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center"><U>ASSETS</U></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">(unaudited)</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">*</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left">Current Assets:</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="width: 66%; text-align: left; padding-left: 11pt">Cash and cash equivalents</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">18,671</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">8,914</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 11pt">Accounts receivable, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,513</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,140</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 11pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,374</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,131</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 11pt">Prepaid inventory</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,095</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,239</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt">Other current assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,312</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,324</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 22pt">Total current assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">68,965</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">66,748</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Property and equipment, net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">153,109</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">159,617</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left">Other Assets:</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: 11pt">Intangible assets, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,865</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,458</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt">Other assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,723</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,653</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 22pt">Total other assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,588</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,111</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Assets**</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">227,662</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">232,476</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 5%">&nbsp;&nbsp;&nbsp;*</TD>
    <TD STYLE="text-align: left; width: 95%"><FONT STYLE="font-weight: normal">Amounts derived from the audited financial statements for the year ended December 31, 2011.</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;**</TD>
    <TD STYLE="width: 95%"><FONT STYLE="font-weight: normal">Assets of the consolidated variable interest entity that can only be used to settle obligations
of that entity were $163,218 and $173,606 as of September 30, 2012 and December 31, 2011, respectively.</FONT></TD></TR>
</TABLE>


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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-weight: normal"></FONT></P>

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



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

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



<!-- Field: Page; Sequence: 114; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PACIFIC ETHANOL, INC.<BR>
CONSOLIDATED BALANCE SHEETS (CONTINUED)<BR>
(in thousands, except par value and shares)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&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="font-weight: bold; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">September 30,</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">December 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center"><U>LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</U></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">(unaudited)</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">*</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -1.3pt">Current Liabilities:</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="width: 66%; text-align: left; padding-left: 11pt">Accounts payable &ndash; trade</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">8,484</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">5,519</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 11pt">Accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,560</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,713</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt">Accrued preferred dividends</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,315</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 11pt">Current portion &ndash; long-term debt (including $750 to related party)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">50,105</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">750</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 22pt">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">62,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,297</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold">&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: 11pt">Long-term debt, net of current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68,990</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">93,689</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 11pt">Accrued preferred dividends</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,583</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt">Warrant liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,495</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,921</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt">Other liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,348</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,305</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; 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(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Liabilities**</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">145,565</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">113,212</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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(238,238,238)">
    <TD STYLE="text-align: left">Commitments and Contingencies (Notes 4, 5 and 7)</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">&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(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left">Stockholders&rsquo; Equity:</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">Pacific Ethanol, Inc. Stockholders&rsquo; Equity:</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(238,238,238)">
    <TD STYLE="padding-left: 11pt; text-indent: -11pt">Preferred stock, $0.001 par value; 10,000,000 shares authorized; Series A: 1,684,375 shares authorized; 0 shares issued and outstanding as of September 30, 2012 and December&nbsp;31, 2011; <BR>Series B: 1,580,790 shares authorized; 926,942 shares issued and outstanding as of September 30, 2012 and December 31, 2011; liquidation preference of $24,659 as of September 30, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11pt; text-indent: -11pt">Common stock, $0.001 par value; 300,000,000 shares authorized; 144,710,897 and 86,631,664 shares issued and outstanding as of September 30, 2012 and December&nbsp;31, 2011, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">145</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">87</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 11pt">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">581,985</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">556,871</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11pt">Accumulated deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(524,487</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(509,985</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 22pt">Total Pacific Ethanol, Inc. Stockholders&rsquo; Equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,644</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">46,974</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Noncontrolling interest in variable interest entity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">24,453</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">72,290</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 22pt">Total Stockholders&rsquo; Equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">82,097</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">119,264</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Liabilities and Stockholders&rsquo; Equity</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">227,662</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">232,476</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: left; text-indent: -13.5pt">_______________</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: left; text-indent: -13.5pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 5%">&nbsp;&nbsp;*</TD>
    <TD STYLE="text-align: left; width: 95%"><FONT STYLE="font-weight: normal">Amounts derived from the audited financial statements for the year ended December 31, 2011.</FONT></TD></TR>
</TABLE>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: left; text-indent: -13.5pt"><FONT STYLE="font-weight: normal"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: bold 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;&nbsp;**</TD>
    <TD STYLE="width: 95%"><FONT STYLE="font-weight: normal">Liabilities of the consolidated variable interest entity for which creditors do not have recourse
to the general credit of Pacific Ethanol, Inc. were $97,444 and $76,478 as of September 30, 2012 and December 31, 2011, respectively.</FONT></TD></TR>
</TABLE>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-weight: normal"></FONT></P>

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


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



<!-- Field: Page; Sequence: 115; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>PACIFIC
ETHANOL, INC.<BR>
CONSOLIDATED STATEMENTS OF OPERATIONS</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(unaudited, in thousands, except per
share data)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></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>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Nine Months Ended</P>
                                               <P STYLE="margin-top: 0; margin-bottom: 0">September 30,</P></TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 66%; text-align: left">Net sales</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">619,026</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">659,390</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cost of goods sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">633,843</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">647,355</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Gross profit (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,817</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,035</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Selling, general and administrative expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,400</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,742</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Income (loss) from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(24,217</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">293</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Fair value adjustments on convertible debt and warrants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">352</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,968</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Interest expense, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,380</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,337</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other expense, net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(499</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(709</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Loss before provision for income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(33,744</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,785</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Provision for income taxes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Consolidated net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(33,744</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,785</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net loss attributed to noncontrolling interest in variable interest entity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">20,191</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,905</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Net income (loss) attributed to Pacific Ethanol</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(13,553</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5,120</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Preferred stock dividends</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(949</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(946</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Income (loss) available to common stockholders</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(14,502</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,174</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net income (loss) per share, basic and diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.15</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Weighted-average shares outstanding, basic</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">96,203</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,230</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Weighted-average shares outstanding, diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">96,203</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,328</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



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

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

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-weight: normal"></FONT></P>

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


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

<!-- Field: Page; Sequence: 116; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 38.5pt"><FONT STYLE="background-color: white">&nbsp;</FONT>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PACIFIC ETHANOL, INC.<BR>
CONSOLIDATED STATEMENTS OF CASH FLOWS<BR>
(unaudited, in thousands)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="background-color: white">&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="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Nine Months Ended <BR>September 30,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left">Operating Activities:</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; width: 66%; padding-left: 11pt">Consolidated net loss</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">(33,744</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">(4,785</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 22pt; text-indent: -11pt">Adjustments to reconcile consolidated net loss to net cash used in operating activities:</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: 33pt; text-indent: -11pt">Depreciation and amortization of intangibles</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,216</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,490</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Fair value adjustments on convertible debt and warrants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(352</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,968</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Inventory valuation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">275</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">157</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Amortization of deferred financing fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">455</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">485</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Noncash compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">705</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,978</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Derivative instruments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(202</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(334</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Bad debt recovery</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(185</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 22pt; text-indent: -11pt">Changes in operating assets and liabilities:</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: 33pt; text-indent: -11pt">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">642</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,204</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,482</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,280</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Prepaid expenses and other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,480</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(368</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Prepaid inventory</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,144</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,466</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 33pt; text-indent: -11pt">Accounts payable and accrued expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,492</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,920</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 44pt">Net cash used in operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(11,422</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(7,560</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; 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(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left">Investing Activities:</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: 22pt; text-indent: -11pt">Purchase of 33% ownership interest in New PEHC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 22pt; text-indent: -11pt">Additions to property and equipment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,115</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,459</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 55pt; text-indent: -11pt">Net cash used in investing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(12,115</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,459</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold; 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-weight: bold; text-align: left">Financing Activities:</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(238,238,238)">
    <TD STYLE="text-align: left; padding-left: 22pt; text-indent: -11pt">Net proceeds from sales of common stock and warrants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,994</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 22pt; text-indent: -11pt">Net proceeds from borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,249</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,091</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 22pt; text-indent: -11pt">Preferred stock dividends paid</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(949</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 44pt">Net cash provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">33,294</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17,091</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Net increase in cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,757</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,072</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cash and cash equivalents at beginning of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,914</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,736</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Cash and cash equivalents at end of period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">18,671</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">16,808</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&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(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left">Supplemental Information:</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-bottom: 2.5pt; padding-left: 11pt">Interest paid</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,504</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,047</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Noncash financing and investing activities:</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-bottom: 2.5pt; padding-left: 22pt; text-indent: -11pt">Preferred stock dividends paid in common stock</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">732</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 22pt; text-indent: -11pt">Notes issued for purchase of 33% ownership interest in New PEHC</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">10,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 22pt; text-indent: -11pt">Accrued interest added to term loan</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,407</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 22pt; text-indent: -11pt">Preferred stock dividends accrued</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">946</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 22pt; text-indent: -11pt">Debt extinguished with issuance of common stock</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">25,388</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-weight: normal"></FONT></P>

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 38.5pt"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 117; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 38.5pt"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD><FONT STYLE="font-variant: small-caps">ORGANIZATION </FONT>AND BASIS OF PRESENTATION.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Organization and Business</U></I>
&ndash; The consolidated financial statements include the accounts of Pacific Ethanol, Inc., a Delaware corporation (&ldquo;Pacific
Ethanol&rdquo;), and its wholly-owned subsidiaries, including Kinergy Marketing LLC, an Oregon limited liability company (&ldquo;Kinergy&rdquo;)
and its wholly-owned subsidiary Pacific Ag. Products, LLC, a California limited liability company (&ldquo;PAP&rdquo;) for all periods
presented, and for the periods specified below, the Plant Owners (as defined below) (collectively, the &ldquo;Company&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The Company is the leading
marketer and producer of low-carbon renewable fuels in the Western United States. The Company also sells ethanol co-products, including
wet distillers grain and syrup (&ldquo;WDG&rdquo;), and provides transportation, storage and delivery of ethanol through third-party
service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado, Idaho and Washington.
The Company sells ethanol produced by the Pacific Ethanol Plants (as defined below) and unrelated third parties to gasoline refining
and distribution companies and sells its WDG to dairy operators and animal feed distributors.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company manages the production and
operation of the four ethanol production facilities, namely, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia, LLC, Pacific
Ethanol Stockton, LLC and Pacific Ethanol Magic Valley, LLC (collectively, the &ldquo;Pacific Ethanol Plants&rdquo;) and their
holding company, Pacific Ethanol Holding Co. LLC (&ldquo;PEHC,&rdquo; and together with the Pacific Ethanol Plants, the &ldquo;Plant
Owners&rdquo;). PEHC is a wholly-owned subsidiary of New PE Holdco LLC (&ldquo;New PE Holdco&rdquo;) which, in turn, is a subsidiary
of the Company. These four facilities have an aggregate annual production capacity of up to 200 million gallons. As of September
30, 2012, three of the facilities were operating and one of the facilities was idled. When market conditions permit, and with approval
of New PE Holdco, the Company intends to resume operations at the Madera, California facility.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 6, 2010, the Company purchased
an initial 20% ownership interest in New PE Holdco, a variable interest entity (&ldquo;VIE&rdquo;), from a number of New PE Holdco&rsquo;s
owners. At that time, the Company determined it was the primary beneficiary of New PE Holdco, and as such, has consolidated the
results of New PE Holdco since then. See Note 2 &ndash; Variable Interest Entity. On each of November 29, 2011 and December 19,
2011, the Company purchased an additional 7% ownership interest in New PE Holdco. Further, on July 13, 2012, the Company purchased
an additional 33% ownership interest in New PE Holdco, bringing the Company&rsquo;s total ownership interest in New PE Holdco to
67% as of September 30, 2012.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Liquidity</U></I> &ndash; Despite
the liquidity risks relative to the Plant Owners&rsquo; credit facilities, the Company believes that current and future available
capital resources, revenues generated from operations, and other existing sources of liquidity, including its credit facilities,
will be adequate to meet its anticipated working capital and capital expenditure requirements for the next twelve months. See Note
5 &ndash; Debt. If, however, the Company&rsquo;s capital requirements or cash flow vary materially from its current projections,
or if other unforeseen circumstances occur, such as a lack of significant improvement or further deterioration of corn crush margins,
the Company may require additional financing during that period. The Company&rsquo;s failure to raise capital, if needed, could
restrict its growth, hinder its ability to compete and adversely impact its operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Basis of Presentation</U></I><U>&ndash;<I>Interim
Financial Statements</I></U><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"> </FONT>&ndash; The accompanying
unaudited consolidated financial statements and related notes have been prepared in accordance with accounting principles generally
accepted in the United States for interim financial information and the instructions to Form 10-Q and Rule&nbsp;10-01 of Regulation&nbsp;S-X.
Results for interim periods should not be considered indicative of results for a full year. These interim consolidated financial
statements should be read in conjunction with the consolidated financial statements for the years ended December 31, 2011 and
2010 and related notes beginning on page F-20 of this prospectus. The accounting policies used in preparing these consolidated
financial statements are the same as those described in Note 1 to such consolidated financial statements. In the opinion of management,
all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the results for interim
periods have been included. All significant intercompany accounts and transactions have been eliminated in consolidation.</P>



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

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

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

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

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

<!-- Field: Page; Sequence: 118; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Use of Estimates</U></I> - The preparation
of the consolidated financial statements in conformity with accounting principles generally accepted in the United States requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 are required as part of determining the consolidation of VIEs, fair value of convertible notes and
warrants, allowance for doubtful accounts, estimated lives of property and equipment and intangibles, long-lived asset impairments,
valuation allowances on deferred income taxes and the potential outcome of future tax consequences of events recognized in the
Company&rsquo;s financial statements or tax returns. Actual results and outcomes may materially differ from management&rsquo;s
estimates and assumptions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Reclassification</U></I> - Reclassifications
of prior year&rsquo;s data have been made to conform to 2012 classifications. Such classifications had no effect on net income
(loss) reported in the consolidated statements of operations.</P>




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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Accounts Receivable and Allowance
for Doubtful Accounts</U></I> &ndash; Trade accounts receivable are presented at face value, net of the allowance for doubtful
accounts. The Company sells ethanol to gasoline refining and distribution companies and sells WDG to dairy operators and animal
feed distributors generally without requiring collateral.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company maintains an allowance for
doubtful accounts for balances that appear to have specific collection issues. The collection process is based on the age of the
invoice and requires attempted contacts with the customer at specified intervals. If, after a specified number of days, the Company
has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance in question. Delinquent accounts
receivable are charged against the allowance for doubtful accounts once uncollectibility has been determined. The factors considered
in reaching this determination are the apparent financial condition of the customer and the Company&rsquo;s success in contacting
and negotiating with the customer. If the financial condition of the Company&rsquo;s customers were to deteriorate, resulting in
an impairment of ability to make payments, additional allowances may be required.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Of the total accounts receivable balance,
approximately $25,540,000 and $23,715,000 at September 30, 2012 and December 31, 2011, respectively, were used as collateral under
Kinergy&rsquo;s working capital line of credit. The allowance for doubtful accounts was $9,000 and $24,000 as of September 30,
2012 and December 31, 2011, respectively.  The Company recorded net bad debt recoveries of $15,000 and $185,000 for the nine
months ended September 30, 2012 and 2011, respectively.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD>VARIABLE INTEREST ENTITY.</TD></TR></TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company concluded that at all times
since New PE Holdco&rsquo;s inception, New PE Holdco has been a VIE because the other owners of New PE Holdco, due to the Company&rsquo;s
involvement through its contractual arrangements, have at all times lacked the power to direct the activities that most significantly
impacted its economic performance. Some of these activities include efficient management and operation of the Pacific Ethanol Plants,
sale of ethanol, the procurement of feedstock, sale of co-products and implementation of risk management strategies. Furthermore,
upon the Company&rsquo;s purchase of its initial 20% ownership interest in New PE Holdco on October 6, 2010, the Company, through
its ownership interest, had an obligation to absorb losses and receive benefits that could potentially be significant to New PE
Holdco. As a result, the Company then became the primary beneficiary of New PE Holdco and began consolidating the financial results
of New PE Holdco. On November 29, 2011, the Company purchased an additional 7% ownership interest in New PE Holdco for $4,502,000
in cash. On December 19, 2011, the Company purchased another 7% ownership interest in New PE Holdco for $4,615,000 in cash.</P>


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

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

<!-- Field: Page; Sequence: 119; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 13, 2012, the Company purchased
an additional 33% ownership interest in New PE Holdco for $20,000,000 by paying $10,000,000 in cash and issuing $10,000,000 in
notes payable. Because the Company has a controlling financial interest in New PE Holdco, it did not record any gain or loss on
this purchase, but instead reduced the amount of the noncontrolling interest in VIE on its consolidated balance sheet by $27,646,000
and recorded the difference between the fair value of the purchase and the price paid by the Company of $7,646,000, to additional
paid-in capital.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Upon the closing of the Company&rsquo;s
purchase of the additional 33% ownership interest, its total ownership interest in New PE Holdco increased from 34% to 67%. Because
New PE Holdco&rsquo;s results are consolidated with the Company&rsquo;s for financial reporting purposes, the acquisition of additional
interests in New PE Holdco did not impact the consolidated net income or loss that the Company reports. However, the portion of
New PE Holdco&rsquo;s net income or loss that is allocated to the Company increased from 34% to 67%, thus changing the net income
or loss attributable to Pacific Ethanol after reducing the net income or loss attributable to the noncontrolling interests and
the Company&rsquo;s earnings per share. For the nine months ended September 30, 2012 and 2011, had the Company held a 67% ownership
interest in New PE Holdco and issued 28,000,000 shares of common stock under the financing noted above, the Company&rsquo;s reported
results would have had the following proforma impact for the nine months ended September 30, 2012 and 2011, net loss available
to common stockholders would have been $23,288,000 and $1,311,000, respectively, and loss per share would have been $0.21 and
$0.03, respectively.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying values and classification
of assets that are collateral for the obligations of New PE Holdco consisted of the following (in thousands):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">September 30, 2012</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">December 31, 2011</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 46%; text-align: left">Cash and cash equivalents</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">92</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">2,070</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,368</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,320</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Property and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">148,390</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">155,523</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,368</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,693</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt">Total assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">163,218</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">173,606</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>



<TR STYLE="vertical-align: bottom; background-color: White">
    <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(238,238,238)">
    <TD STYLE="width: 46%; text-align: left">Current liabilities</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">6,063</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">3,064</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Long-term debt, including current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91,186</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73,256</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">195</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">158</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt">Total liabilities</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">97,444</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">76,478</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR></TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s acquisition of its
ownership interest in New PE Holdco does not impact the Company&rsquo;s rights or obligations under any of its contractual agreements.
Further, creditors of New PE Holdco do not have recourse to the Company. Since its initial acquisition, the Company has not provided
any additional support to New PE Holdco beyond the terms of its contractual agreements.</P>

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

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

<!-- Field: Page; Sequence: 120; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>




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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD>INVENTORIES.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories consisted primarily of bulk
ethanol and unleaded fuel, and are valued at the lower-of-cost-or-market, with cost determined on a first-in, first-out basis.
Inventory balances consisted of the following (in thousands):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">September 30, 2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 46%; text-align: left">Finished goods</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">8,089</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">9,429</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Work in progress</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,164</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,284</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Raw materials</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,273</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,334</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">848</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,084</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 22pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">14,374</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">16,131</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD>DERIVATIVES.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The business and activities of the Company
expose it to a variety of market risks, including risks related to changes in commodity prices and interest rates. The Company
monitors and manages these financial exposures as an integral part of its risk management program. This program recognizes the
unpredictability of financial markets and seeks to reduce the potentially adverse effects that market volatility could have on
operating results.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Commodity Risk</U></I><U> &ndash;
<I>Cash Flow Hedges</I></U> &ndash; The Company uses derivative instruments to protect cash flows from fluctuations caused by volatility
in commodity prices for periods of up to twelve months in order to protect gross profit margins from potentially adverse effects
of market and price volatility on ethanol sale and purchase commitments where the prices are set at a future date and/or if the
contracts specify a floating or index-based price for ethanol. In addition, the Company hedges anticipated sales of ethanol to
minimize its exposure to the potentially adverse effects of price volatility. These derivatives may be designated and documented
as cash flow hedges and effectiveness is evaluated by assessing the probability of the anticipated transactions and regressing
commodity futures prices against the Company&rsquo;s purchase and sales prices. Ineffectiveness, which is defined as the degree
to which the derivative does not offset the underlying exposure, is recognized immediately in cost of goods sold. For the nine months ended September 30, 2012 and 2011, the Company did not designate any of its derivatives as cash flow hedges.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Commodity Risk &ndash; Non-Designated
Hedges</U></I> &ndash; The Company uses derivative instruments to lock in prices for certain amounts of corn and ethanol by entering
into forward contracts for those commodities. These derivatives are not designated for special hedge accounting treatment. The
changes in fair value of these contracts are recorded on the balance sheet and recognized immediately in cost of goods sold.  The Company recognized gains of $202,000 and $334,000 as the change in the fair
value of these contracts for the nine months ended September 30, 2012 and 2011, respectively. The notional balances remaining on
these contracts were $24,102,000 and $9,186,000 as of September 30, 2012 and December 31, 2011, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Non-Designated Derivative Instruments</U></I>
&ndash; The Company classified its derivative instruments not designated as hedging instruments of $514,000 and $291,000 in other
assets and accrued liabilities as of September 30, 2012, respectively, and $244,000 and $500,000 in other assets and accrued liabilities
as of December 31, 2011, respectively.</P>

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

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

<!-- Field: Page; Sequence: 121; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>




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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The classification and amounts of the
Company&rsquo;s recognized gains (losses) for its derivatives not designated as hedging instruments are as follow (in thousands):</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center">Realized Gains</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"> Nine Months Ended September  30,</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">Type of Instrument</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">Statements of Operations Location</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center">2012</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center">2011</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(238,238,238); vertical-align: bottom">
    <TD STYLE="padding-bottom: 2.5pt; width: 30%">Commodity contracts</TD>
    <TD STYLE="padding-bottom: 2.5pt; width: 3%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; width: 35%">Cost of goods sold</TD>
    <TD STYLE="padding-bottom: 2.5pt; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 11%">277</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 11%">460</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; width: 1%"></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center">Unrealized Losses</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"> Nine Months Ended September  30,</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">Type of Instrument</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">Statements of Operations Location</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center">2012</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center">2011</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(238,238,238); vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; width: 30%">Commodity contracts</TD>
    <TD STYLE="padding-bottom: 1pt; width: 3%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 35%">Cost of goods sold</TD>
    <TD STYLE="padding-bottom: 1pt; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 1%">$</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; width: 11%">(479</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; width: 1%">)</TD>
    <TD STYLE="padding-bottom: 1pt; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: left; width: 1%">$</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; width: 11%">(126</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; width: 1%">)</TD></TR>

</TABLE>


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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD>DEBT.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Long-term borrowings are summarized as
follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">September 30, <BR>2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, <BR>
2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 46%; text-align: left">Kinergy operating line of credit</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">17,158</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 13%; color: black; text-align: right">20,432</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Senior unsecured notes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Note payable to related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">750</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Plant Owners&rsquo; term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,687</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,279</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Plant Owners&rsquo; operating line of credit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">38,500</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21,978</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">119,095</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">94,439</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less short-term portion</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(50,105</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(750</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Long-term debt</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">68,990</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">93,689</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Kinergy Operating Line of Credit</U></I>
&ndash; In May 2012, the Company extended Kinergy&rsquo;s operating line of credit. The renewal of Kinergy&rsquo;s credit facility
is for an aggregate amount of up to $40,000,000, including an optional accordion feature for up to an additional $10,000,000. The
prior credit facility included an accordion feature of $5,000,000. The credit facility expires on December 31, 2015. Interest accrues
under the credit facility at a rate equal to (i)&nbsp;the three-month London Interbank Offered Rate (&ldquo;LIBOR&rdquo;), plus
(ii) a specified applicable margin ranging between 2.50% and 3.50%. The credit facility&rsquo;s monthly unused line fee is 0.50%
of the amount by which the maximum credit under the facility exceeds the average daily principal balance. Kinergy is also required
to pay customary fees and expenses associated with the credit facility and issuances of letters of credit. In addition, Kinergy
is responsible for a $3,000 monthly servicing fee. Payments that may be made by Kinergy to Pacific Ethanol as reimbursement for
management and other services provided by Pacific Ethanol to Kinergy are limited to $800,000 per fiscal quarter in 2012, $900,000
per fiscal quarter in 2013, $1,000,000 per fiscal quarter in 2014 and $1,100,000 per fiscal quarter in 2015. As of September 30,
2012, Kinergy had unused availability under the revolving credit facility of $4,200,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the amended facility includes
the accounts receivable of PAP as additional collateral. Payments that may be made by PAP to Pacific Ethanol as reimbursement for
management and other services provided by Pacific Ethanol to PAP are limited to the extent that quarterly payments would result
in PAP recording less than $100,000 of net income in the quarter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the fiscal quarter ending June 30,
2012 and each fiscal quarter thereafter, Kinergy and PAP are collectively required to generate aggregate earnings before interest,
taxes, depreciation and amortization, or EBITDA, of $450,000 for the quarter and aggregate EBITDA of $1,100,000 for each two consecutive
quarters. These amounts are required through December 31, 2013. In 2014, the required EBITDA amounts increase to $500,000 per quarter
and $1,300,000 for each two consecutive quarters. Further, for all monthly periods, Kinergy and PAP must collectively maintain
a fixed charge coverage ratio (calculated as a twelve-month rolling EBITDA divided by the sum of interest expense, capital expenditures,
principal payments of indebtedness, indebtedness from capital leases and taxes paid during such twelve-month rolling period) of
at least 2.0 and are prohibited from incurring any additional indebtedness (other than specific intercompany indebtedness) or making
any capital expenditures in excess of $100,000 absent the lender&rsquo;s prior consent. Kinergy and PAP&rsquo;s obligations under
the credit facility are secured by a first-priority security interest in all of their assets in favor of the lender. The Company
believes it is in compliance with these covenants.</P>

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

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

<!-- Field: Page; Sequence: 122; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>




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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Senior Unsecured Notes</U></I> &ndash;
In July 2012, as part of the Company&rsquo;s acquisition of an additional 33% ownership interest in New PE Holdco, the Company
issued senior unsecured promissory notes (the &ldquo;Notes&rdquo;) due April 13, 2013 in the aggregate principal amount of $10.0
million. Interest on the unpaid principal amount accrued at a rate of 5.00% per annum. As discussed in Note 11, the Company repaid
the Notes in October 2012.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I><U>Plant Owners&rsquo;
Term Debt and Operating Line of Credit</U></I> &ndash; On July 13, 2012, the Plant Owners&rsquo; amended their existing credit
facilities. Prior to the amendment, the credit facilities consisted of a $35,000,000 revolving credit facility, a $25,000,000 tranche
A-1 term loan and a $26,300,000 tranche A-2 term loan. Under the amendment, the Plant Owners&rsquo; credit facilities were, among
other things, amended to extend the maturity date in respect of $46,800,000 of the combined revolving credit facility and term
loans from June 25, 2013 to June 30, 2016. In addition, the aggregate commitment amount under the revolving credit facility was
increased by $5,000,000. Further, monthly interest payments due to certain lenders may, at the option of the Plant Owners, be deferred
and added to the loans maturing on the extended maturity date of June 30, 2016. As of September 30, 2012, $1,407,000 of accrued
interest was deferred and added to the term loan. The amendment also provides the Plant Owners with the ability to pay down and
pay off the non-extending lenders and the outstanding tranche A-2 term loan at, or at any time prior to, the original maturity
date of June 25, 2013 without penalty while keeping the extended loans in place.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">For the nine
months ended September 30, 2012, the Plant Owners increased their borrowings under their operating line of credit by $16,522,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of September 30, 2012, the Plant Owners
had unused availability under the revolving credit facility of $700,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 29, 2012, the Plant Owners amended
and restated their existing credit facilities and entered into a new revolving credit facility for an aggregate amount of up to
$10,000,000. See Note 11- Subsequent Events.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has had and continues to have
extensive communications with holders of the $39,500,000 in debt due June 25, 2013 to restructure the existing loans and any additional
loans under the new $10,000,000 credit facility. The Company also continues to explore its capital raising alternatives. The Company
believes that it will be able to successfully restructure the loans or raise additional capital, or both, prior to the June 25,
2013 maturity date. However, the Company cannot provide any assurances that it will be able to do so, or what the terms of any
restructuring or capital raising transaction might be. If the Company is unable to timely restructure the $39,500,000 in debt (together
with any additional debt under the new credit facility) due June 25, 2013 or raise sufficient capital to repay the debt, the Company
will be in default on that debt and in cross-default on the $46,800,000 in debt extended to June 30, 2016, all of which, totaling
$91,300,000 plus any amounts borrowed under the new credit facility, will be accelerated and immediately due and payable
on June 25, 2013. As a result, the Company and its direct and indirect subsidiaries, including Kinergy and the Plant Owners, will
likely experience material adverse effects.</P>



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

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

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

<!-- Field: Page; Sequence: 123; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>




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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Note Payable to Related Party</U></I>
&ndash; On March 31, 2009, the Company&rsquo;s Chief Executive Officer provided funds in an aggregate amount of $1,000,000 for
general working capital purposes, in exchange for an unsecured promissory note issued by the Company. Interest on the unpaid principal
amount accrues at a rate of 8.00% per annum.  The Company recorded interest under this note of approximately
$45,000 and $60,000 for the nine months ended September 30, 2012 and 2011, respectively. As of December 31, 2011, the remaining
amount of $750,000 was due and payable on the extended maturity date of March 31, 2012. On March 7, 2012, the maturity date was
further extended to March 31, 2013.</P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">For the nine months ended
September 30, 2012, certain warrant holders exercised warrants in respect of 252,101 shares of common stock on a cashless exercise
basis, resulting in 172,269 net shares of common stock issued by the Company. For the nine months ended September 30,
2012, certain warrant holders exercised warrants in respect of 50,000 shares of common stock for $26,500 in cash.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>July Offering</U> </I>&ndash; On
July 3, 2012, the Company raised $10,903,000, net of $1,137,000 of underwriting and issuance costs, through a public offering of
units consisting of an aggregate of 28,000,000 shares of common stock, warrants to purchase 28,000,000 shares of common stock at
an exercise price of $0.63 per share with a term of five years and warrants to purchase 14,000,000 shares of common stock at an
exercise price of $0.53 per share with a term of eighteen months (&ldquo;July Offering&rdquo;), which warrant exercise prices are
subject to adjustment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The warrants issued in the July Offering
are subject to a &ldquo;weighted-average&rdquo; anti-dilution adjustment if the Company issues or is deemed to have issued securities
at a price lower than the then applicable warrant exercise prices. In September 2012, as discussed below, the Company issued additional
common stock and warrants, resulting in adjustments to the exercise prices of warrants issued in the July Offering. The adjusted
exercise prices for the 5-year and 18-month warrants are $0.50 per share and $0.43 per share, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounted for the net proceeds
of the July Offering by first allocating the $3,380,000 fair value of the warrants to liabilities and then allocating the remaining
amount to equity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>September Offering</U> </I>&ndash;
On September 26, 2012, the Company raised $10,091,000, net of $909,000 of underwriting and issuance costs, through a public offering
of units consisting of an aggregate of 27,500,000 shares of common stock and warrants to purchase 27,500,000 shares of common stock
at an exercise price of $0.59 per share with a term of three years (&ldquo;September Offering&rdquo;). The Company accounted for
the net proceeds of the September Offering by first allocating the $1,658,000 fair value of the warrants to liabilities and then
allocating the remaining amount to equity.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">7.</TD><TD>COMMITMENTS AND CONTINGENCIES.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Purchase Commitments</U></I> &ndash;
At September 30, 2012, the Company had fixed-price purchase contracts with its suppliers to purchase $14,153,000 of ethanol and
indexed-price contracts to purchase 112,000 gallons of ethanol. These contracts will be satisfied throughout the remainder of 2012.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Sales Commitments</U></I> &ndash;
At September 30, 2012, the Company had entered into sales contracts with its major customers to sell certain quantities of ethanol
and WDG. The volumes indicated in the indexed-price contracts table will be sold at publicly-indexed sales prices determined by
market prices in effect on their respective transaction dates (in thousands):</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fixed-Price Contracts</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 47%">Ethanol</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">70</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">WDG</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">521</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 13.7pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">591</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Indexed-Price Contracts <BR>(Volume)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 47%; text-align: left; padding-left: 0pt">Ethanol (gallons)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">97,708</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: 0pt">WDG (tons)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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

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

<!-- Field: Page; Sequence: 124; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>




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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Litigation &ndash; General</U> &ndash;</I>
The Company is subject to various claims and contingencies in the ordinary course of its business, including those related to litigation,
business transactions, employee-related matters, and others. When the Company is aware of a claim or potential claim, it assesses
the likelihood of any loss or exposure. If it is probable that a loss will result and the amount of the loss can be reasonably
estimated, the Company will record a liability for the loss. If the loss is not probable or the amount of the loss cannot be reasonably
estimated, the Company discloses the claim if the likelihood of a potential loss is reasonably possible and the amount involved
could be material. While there can be no assurances, the Company does not expect that any of its pending legal proceedings will
have a material financial impact on the Company&rsquo;s operating results.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">8.</TD><TD>FAIR VALUE MEASUREMENTS.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The fair value hierarchy
prioritizes the inputs used in valuation techniques into three levels as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Level 1 &ndash; Observable inputs &ndash; unadjusted quoted prices in active markets for identical
assets and liabilities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Level 2 &ndash; Observable inputs other than quoted prices included in Level 1 that are observable
for the asset or liability through corroboration with market data; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Level 3 &ndash; Unobservable inputs &ndash; includes amounts derived from valuation models where
one or more significant inputs are unobservable. For fair value measurements using significant unobservable inputs, a description
of the inputs and the information used to develop the inputs is required along with a reconciliation of Level 3 values from the
prior reporting period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company valued its warrants using a
Monte Carlo Binomial Lattice-Based valuation methodology, adjusted for marketability restrictions. Significant assumptions used
in the valuations for the dates noted are as follows (fair value in thousands):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>As of September 30, 2012:</U></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Original Issue<BR> Date</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercise Price</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Volatility</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Risk<BR> Free Int<BR> Rate</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Term<BR> (yrs)</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Marketability<BR> Discount</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp; Fair Value</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&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><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(238,238,238)">
    <TD STYLE="width: 34%; text-align: right">October 2010</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">0.12</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">75.6%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">0.62%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">5.10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">48.0%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">43</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">December 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.84</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77.7%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.47%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.21</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55.9%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">585</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: right">July 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">76.8%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.62%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.76</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57.5%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,351</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">July 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.43</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73.9%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.17%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.26</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57.5%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">858</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: right">September 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.59</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74.1%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.31%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58.5%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,658</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&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><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; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">6,495</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



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

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

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

<!-- Field: Page; Sequence: 125; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>As of December 31, 2011:</U></I></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Original Issue<BR> Date</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercise Price</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Volatility</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Risk<BR> Free Int<BR> Rate</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Term<BR> (yrs)</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Marketability<BR> Discount</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&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><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(238,238,238)">
    <TD STYLE="width: 34%; text-align: right">October 2010</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">0.45</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">68.0%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">1.09%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">5.90</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">47.4%</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">226</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">December 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68.0%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.83%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.96</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52.0%</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,695</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">1,921</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The changes in the fair value of
the Company&rsquo;s Level 3 inputs were as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</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(238,238,238)">
    <TD STYLE="width: 67%">Balance, December 31, 2011</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,921</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Warrant exercises</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(112</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Adjustments to fair value for the period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">33</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Balance, March 31, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,842</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Adjustments to fair value for the period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,285</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Balance, June 30, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">557</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD>July Offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,380</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>September Offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,658</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Adjustments to fair value for the period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">900</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Balance, September 30, 2012</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,495</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Other Derivative Instruments</U></I>
&ndash; The Company&rsquo;s other derivative instruments consist of commodity positions. The fair value of the commodity positions
are based on quoted prices on the commodity exchanges and are designated as Level 1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table summarizes fair value measurements by level
at September 30, 2012 (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in">Assets:</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="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in">Commodity contracts(1)</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; text-align: right">514</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; text-align: right">514</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in">Total Assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">514</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">514</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">(1) Included in other current assets
in the consolidated balance sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 9pt">&nbsp;</P>

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

<!-- Field: Page; Sequence: 126; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 9pt">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in">Liabilities:</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(238,238,238)">
    <TD STYLE="width: 48%; text-align: left">Warrants</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">6,495</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">6,495</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in">Commodity contracts(1)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">291</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">291</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in">Total Liabilities</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">291</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,495</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,786</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> (1) Included in accrued liabilities in the consolidated balance sheets.</P>





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following tables summarize fair value measurements by level
at December 31, 2011 (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in">Assets:</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="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in">Commodity contracts(1)</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; text-align: right">244</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; text-align: right">244</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in">Total Assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">244</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">244</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> (1) Included in other current assets in the consolidated balance sheets.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt">&nbsp;&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in">Liabilities:</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="width: 48%; text-align: left">Warrants(1)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&ndash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,921</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,921</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in">Commodity contracts(2)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">500</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">500</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in">Total Liabilities</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">500</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,921</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,421</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">(1) Included in other liabilities
in the consolidated balance sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">(2) Included in accrued liabilities
in the consolidated balance sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 9pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 9pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">9.</TD><TD>EARNINGS PER SHARE.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables compute basic and
diluted earnings per share (in thousands, except per share data):</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30, 2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Loss <BR>Numerator</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Shares Denominator</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Per-Share<BR>
 Amount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 61%; text-align: justify">Net loss attributed to Pacific Ethanol</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(13,553</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Less: Preferred stock dividends</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(949</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -8.05pt; padding-left: 8.05pt">Basic and diluted loss per share:</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-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt">Loss available to common stockholders</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(14,502</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">96,203</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.15</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 9pt">&nbsp;</P>

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

<!-- Field: Page; Sequence: 127; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&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="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30, 2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Income <BR>
Numerator</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Shares Denominator</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Per-Share <BR>
Amount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 61%; text-align: justify">Net income attributed to Pacific Ethanol</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">5,120</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Less: Preferred stock dividends</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(946</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt">Basic income per share:</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">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Income available to common stockholders</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,174</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,230</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.20</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Add: Stock options</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&ndash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">98</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt">Diluted income per share:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt">Income available to common stockholders</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,174</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,328</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.20</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There
were an aggregate of 3,300,000 potentially dilutive weighted-average shares from convertible securities outstanding for the nine
months ended September 30, 2012. These convertible securities were not considered in calculating diluted net loss per share for
the nine months ended September 30, 2012, as their effect would have been anti-dilutive.</P>



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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Preferred Dividends</U> &ndash; </I>The
Company accrued and paid cash dividends in respect of its Series B Preferred Stock of $949,000 for the nine
months ended September 30, 2012,  and accrued but did not pay cash dividends of $946,000 for the nine months ended September 30, 2011. On August 21, 2012, the Company entered into an agreement with the Series
B Preferred Stock holders under which the Company issued 2,360,000 shares of its common stock in payment of $732,000 of the total
$7,315,000 of accrued and unpaid dividends in respect of the Series B Preferred Stock. In addition, the holders of the Series B
Preferred Stock agreed to forebear from exercising any rights they may have with respect to the unpaid dividends until January
1, 2014. The Company had accrued and unpaid dividends in respect of its Series B Preferred Stock of $6,583,000 and $7,315,000 as
of September 30, 2012 and December 31, 2011, respectively.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Note Payable to Related Party</U>
&ndash; </I>The Company had a note payable to its Chief Executive Officer totaling $750,000 as of September 30, 2012 and December
31, 2011. This note matures on March 31, 2013.</P>

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

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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">11.  &nbsp;&nbsp;&nbsp;&nbsp;SUBSEQUENT EVENTS.</P>






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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Repayment of Senior Unsecured
Notes</U></I> &ndash; On October 1, 2012, the Company fully repaid in cash its $10,000,000 in senior unsecured notes from
proceeds of its public offering, which closed on September 26, 2012.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Second Amended and Restated Credit
Agreement</U></I> &ndash; On October 29, 2012, the Plant Owners entered into a Second Amended and Restated Credit Agreement (&ldquo;Restated
Credit Agreement&rdquo;) with the lenders party to the agreement. The Restated Credit Agreement provides for a revolving credit
facility of up to $40,000,000, a term loan of $25,000,000 (&ldquo;Tranche A-1 Loan&rdquo;) and a term loan of $26,300,000 (&ldquo;Tranche
A-2 Loan&rdquo;). Under the terms of the Restated Credit Agreement, $39,500,000 of the combined revolving loans and term loans
has a maturity date of June 25, 2013 and $51,800,000 of the combined revolving loans and term loans has a maturity date of June
30, 2016.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Plant Owners may elect to receive Eurodollar
loans and/or base rate loans. The per annum interest rate on Eurodollar loans is equal to (a) the rate obtained by dividing (i)
the one-month LIBOR for the relevant interest period (but in no event less than 4%) by (ii) a percentage equal to (1) 100% minus
(2) the Eurodollar Reserve Percentage (as determined by the Board of Governors of the Federal Reserve System) for the relevant
period, plus (b) the applicable margin of 10%. The per annum interest rate on base rate loans is equal to (A) the higher of (x)
the Federal Funds Effective Rate (equal to the weighted average of the rates on overnight federal funds transactions with members
of the Federal Reserve System) plus 0.50%, (y) the rate of interest as publicly announced by Wells Fargo Bank as its &ldquo;prime
rate&rdquo; or (z) the one-month LIBOR plus 1.0%, plus the applicable margin of 10%.</P>



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

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

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

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

<!-- Field: Page; Sequence: 128; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>


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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest under the loans is payable monthly
in cash, but as long as no default or event of default has occurred or is continuing, interest payments due to certain lenders
for any period prior to June 25, 2013, may, at the option of the Plant Owners, be deferred and added to the principal balance of
the Tranche A-1 Loan due June 30, 2016. The Plant Owners are also required to pay an unused line fee of 2.0% per annum and other
customary fees and expenses associated with the credit facility.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The Plant Owners&rsquo; obligations are secured by a security interest in their assets and equity interests
in favor of the lenders. The Restated Credit Agreement contains numerous customary representations, warranties, affirmative and
negative covenants and other customary terms and conditions, including events of default (including upon the occurrence of an event
of default with respect to any indebtedness owed by the Company) and remedies in favor of the lenders. The Restated Credit Agreement
also contains restrictions on the creation or incurrence of additional indebtedness (other than pursuant to the Credit Agreement
described below) and on distributions of funds from the Plant Owners to any affiliates of the Plant Owners, including the Company.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal">The
Restated Credit Agreement also contains financial covenants concerning certain of the Plant Owners&rsquo; budgeted expenses. Specifically,
the Plant Owners shall not permit amounts disbursed pursuant to the categories in the budget related to the asset management agreement
among the Plant Owners and the Company and operating disbursements to exceed their respective budgeted amounts by more than 10%.</FONT></P>

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


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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal">The
Plant Owners have the right at any time, and from time to time, but subject to limitations imposed by an intercreditor agreement
(described below), to prepay in whole or in part the revolving loans and Tranche A-1 Loans (and the Tranche A-2 Loans following
the payment in full of the revolving loans and Tranche A-1 Loans). However, in the event of any prepayment of the Tranche A-1 Loans
that have a maturity date of June 30, 2016, the Plant Owners must pay a premium equal to the present value of all interest payments
which would have accrued from the date of such payment through June 30, 2016, calculated using a discount rate, applied quarterly,
equal to the Treasury Rate as of such prepayment date plus 50 basis points. The Restated Credit Agreement also provides for mandatory
prepayments in connection with certain customary events, including any sale of material assets; however, certain mandatory prepayments
are not subject to the prepayment premium.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I><U>Credit Agreement</U></I> &ndash;
On October 29, 2012, the Plant Owners entered into a Credit Agreement (&ldquo;Credit Agreement&rdquo;) with lenders party to the
agreement. The Credit Agreement provides for a revolving credit facility of up to $10,000,000. The Plant owners may request (with
a maximum of 5 requests) increases in the amount of the facility in increments of not less than $1,000,000, up to a maximum credit
limit of $5,000,000. The lenders have no obligation to agree to such a request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Effective as of January 11, 2013, the
maturity date applicable to Loans made under the Credit Agreement was extended from June 25, 2013 to June 25, 2015. The maturity
date applicable to the Loans made under the Credit Agreement may be extended to June 25, 2016 upon approval of lenders holding
in excess of 50% of the outstanding principal amount of the loans and the undisbursed amount of the aggregate lending commitment.</P>

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



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

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

<!-- Field: Page; Sequence: 129; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Plant Owners may elect to receive
Eurodollar loans and/or base rate loans. The per annum interest rate on Eurodollar loans is equal to (a) the rate obtained by dividing
(i) the one-month LIBOR for the relevant interest period (but in no event less than 4%) by (ii) a percentage equal to (1) 100%
minus (2) the Eurodollar Reserve Percentage (as determined by the Board of Governors of the Federal Reserve System) for the relevant
period, plus (b) the applicable margin. The per annum interest rate on base rate loans is equal to (A) the higher of (x) the Federal
Funds Effective Rate (equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal
Reserve System), plus 0.50%, (y) the rate of interest as publicly announced by Wells Fargo Bank as its &ldquo;prime rate&rdquo;
or (z) the one-month LIBOR plus 1.0%, plus the applicable margin. With respect to both the Eurodollar loans and base rate loans,
the applicable margin is 5.5%; provided that for any loans for which interest is paid as capitalized interest, the applicable margin
is deemed to be 8.0% per annum for the period for which interest is so paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Interest under the loans is payable
monthly in cash, but as long as no default or event of default has occurred or is continuing, interest payments due to the lenders
may, at the option of the Plant Owners, be deferred and added as capitalized interest to the principal balance of the loans.<B>
</B>The Plant Owners are also required to pay an unused line fee of 2.0% per annum and other customary fees and expenses associated
with the credit facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Plant Owners&rsquo; obligations
are secured by a security interest in their assets and equity interests in favor of the lenders. The Credit Agreement contains
numerous customary representations, warranties, affirmative and negative covenants and other customary terms and conditions, including
events of default (including upon the occurrence of an event of default with respect to any indebtedness owed by the Company) and
remedies in favor of the lenders. The Credit Agreement also contains restrictions on the creation or incurrence of additional indebtedness
and on distributions of funds from the Plant Owners to any affiliates of the Plant Owners, including the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Credit Agreement also contains financial
covenants concerning certain of the Plant Owners&rsquo; budgeted expenses. Specifically, the Plant Owners shall not permit amounts
disbursed pursuant to the categories in the budget related to the asset management agreement among the Plant Owners and the Company
and operating disbursements to exceed their respective budgeted amounts by more than 10%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The Plant Owners have the right at any
time, and from time to time, but subject to limitations imposed by an intercreditor agreement, to prepay the revolving loans under
the Credit Agreement. The Credit Agreement also provides for mandatory prepayments in connection with certain customary events,
including any sale of material assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><I><U>Intercreditor Agreement</U></I>
&ndash; On October 29, 2012, the Plant Owners entered into an Intercreditor Agreement (&ldquo;Intercreditor Agreement&rdquo;) with
Wells Fargo Bank, National Association (&ldquo;Agent&rdquo;), as collateral agent. The Intercreditor Agreement provides, among
other things, that the amounts owed by the Plant Owners under the Credit Agreement shall be senior in right and payment to the
payment of amounts owed by the Plant Owners under the Restated Credit Agreement. In addition, pursuant to the terms of the Intercreditor
Agreement, the lenders under the Restated Credit Agreement have agreed to continue, and make certain additional extensions of,
credit to the Plant Owners pursuant to the terms of the Restated Credit Agreement, upon, among other terms and conditions, the
conditions that (i) obligations of Plant Owners under the Restated Credit Agreement shall be secured by a second priority lien
on, and security interests in, the collateral under the Restated Credit Agreement, and (ii) subject to the terms and conditions
contained in the Intercreditor Agreement, the payment of certain obligations under the Restated Credit Agreement shall be subordinate
and subject in right and time of payment to the prior discharge of amounts owed by the Plant Owners under the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in; text-align: justify"><I><U>Debt, Warrant
and PE Holdco Interest Acquisitions</U> &ndash; </I>On December&nbsp;19, 2012, the Company entered into a Securities Purchase
Agreement (the &ldquo;Purchase Agreement&rdquo;) with 5 accredited investors (the &ldquo;Investors&rdquo;). Under the terms of
the Purchase Agreement, the Company agreed to sell $22,192,491 in aggregate principal amount of its senior unsecured notes (the
&ldquo;Notes&rdquo;) and 5-year warrants (the &ldquo;Warrants&rdquo;) to purchase an aggregate of 25,630,286 shares of the Company&rsquo;s
common stock at an exercise price of $0.52 per share, to the Investors in a private offering for aggregate gross proceeds of $22,192,491.
&nbsp; The sale of the Notes and the Warrants to the Investors closed on January 11, 2013 (the &ldquo;Closing&rdquo;).&nbsp;&nbsp;In
connection with the sale of the Notes and the Warrants, the Company entered into a registration rights agreement with the Investors
on January 11, 2013.</P>

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



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

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

<!-- Field: Page; Sequence: 130; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Of the gross proceeds, $21,538,596 was used to purchase from
certain of the Investors an aggregate principal amount of $21,538,596 of Tranche A-2 Loans (the &ldquo;Acquired Plant Debt&rdquo;)
issued under the Restated Credit Agreement. On January 11, 2013, the maturity date applicable to the Acquired Plant Debt was extended
from June 30, 2013 to June 30, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Of the remaining gross proceeds, $653,895 was used to purchase
from certain of the Investors 130.779 membership interest units of New PE Holdco LLC, increasing the Company&rsquo;s ownership
interests in New PE Holdco to 80%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in; text-align: justify">The Notes were issued at the Closing and
have an aggregate principal amount of $22,192,491. The Notes will mature on March 30, 2016 (the &ldquo;Maturity Date&rdquo;). The
Notes bear interest at the rate of 5% per annum, subject to adjustment.&nbsp;&nbsp;If the aggregate outstanding principal balance
of the Notes is not less than $10,769,297 by January 15, 2014, the interest rate will increase commencing on January 15, 2014 by
1% per annum on each calendar January 15, April 15, July 15 and October 15 until the aggregate outstanding principal balance of
the Notes is less than $10,769,297. The interest rate will also increase by an additional 2% per annum above the interest rate
otherwise applicable upon the occurrence, and during the continuance, of an event of default until such event of default has been
cured. The Company is required to pay all outstanding principal and any accrued and unpaid interest on the Notes on the Maturity
Date. The Company may, at its option, prepay the Notes at any time without premium or penalty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">If at any time the Company receives net cash proceeds from
an issuance of equity or equity linked securities of the Company, certain sales of assets of the Company or any of its wholly or
partially owned subsidiaries or as a result of the Company or any of its wholly or partially owned subsidiaries incurring certain
indebtedness, then the Company will be obligated to prepay the Notes using 100% of all such net cash proceeds, provided that in
connection with proceeds received in connection with an Equity Linked Issuance (as defined in the Notes), the Company will be obligated
to use all such net cash proceeds to either prepay the Notes or purchase outstanding debt issued by its indirect partially owned
subsidiaries under the Second Lien Credit Facility, in respective proportions established by the terms of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Interest on the Notes is payable in cash in arrears on the
15<SUP>th</SUP> calendar day of each month beginning on March 15, 2013 (each an &ldquo;Interest Payment Date&rdquo;). Subject to
the satisfaction of the Equity Conditions (as defined in the Notes), at the option of the Company, the Company may elect to pay
interest due and payable on any Interest Payment Date in shares of Common Stock, provided that the interest rate applicable to
any outstanding amounts that Company pays in Interest Shares shall increase by 2% per annum from the then applicable interest rate
for the period for which such interest is paid. The number of Interest Shares to be issued, at the Company&rsquo;s election, on
any particular Interest Payment Date shall equal to the quotient of (x) the amount of interest payable (assuming payment in Interest
Shares) on such Interest Payment Date divided by (y) the product of (i) the weighted average price of the Common Stock for 30 trading
days immediately preceding (but excluding) the Interest Payment Date and (ii) 0.95. If the Company cannot make an interest payment
in shares of Common Stock because one of the conditions described above is not satisfied, the Company must make such payment in
cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 11pt 0 0; text-align: justify"><I><U>Preferred Dividends</U> &ndash;</I>On
December 26, 2012, the Company entered into an agreement with the Series B Preferred Stock holders under which the Company issued
approximately 2,169,000 shares of its common stock in payment of $732,000 of the total $6,583,000 of accrued and unpaid dividends
in respect of the Series B Preferred Stock. In addition, the holders of the Series B Preferred Stock agreed to forebear from exercising
any rights they may have with respect to accrued unpaid dividends until June 30, 2014. The Company had accrued and unpaid dividends
in respect of its Series B Preferred Stock of $5,851,000 as of December 31, 2012.</P>

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



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

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

<!-- Field: Page; Sequence: 131; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B><BR>
<B>(UNAUDITED)</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I><U>Related Party Note &ndash;</U></I> On February 7,
2013, the Company entered into an amendment to the promissory note of $750,000, with the Company&rsquo;s Chief Executive Officer,
further extending its maturity date from March 31, 2013 to March 31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I><U>Stock Incentive Plan -</U></I> On December 13, 2012,
upon approval by the Company&rsquo;s stockholders, the Company amended its 2006 Stock Incentive Plan (the &ldquo;Plan&rdquo;) to
increase the number of shares of common stock authorized for issuance under the 2006 Plan from 1,214,285 shares to 6,214,285. In
January 2013, the Company granted an aggregate of 2,168,708 shares of common stock to its directors and employees under the 2006
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><I><U>Chief Operating Officer</U></I> - On January 6, 2013,
the Company entered into an executive employment agreement with Michael D. Kandris that appointed Mr. Kandris as the Company&rsquo;s
Chief Operating Officer.</P>



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



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

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

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

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

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

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

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

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

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

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

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

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



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

<!-- Field: Page; Sequence: 132; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>&#160;</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM</B></P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">To the Board of Directors
and Stockholders</P>

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

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

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">We have audited the accompanying
consolidated balance sheets of Pacific Ethanol, Inc. (the &#8220;Company&#8221;) as of December 31, 2011 and 2010, and the related
consolidated statements of operations, stockholders' equity and cash flows for the years then ended. These consolidated financial
statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated
financial statements based on our audits.</P>

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

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">We conducted our audits in
accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
The Company is not required to have, nor were we engaged to perform an audit of its internal control over financial reporting.
Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s
internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">In our opinion, the consolidated
financial statements referred to above present fairly, in all material respects, the financial position of Pacific Ethanol, Inc.
as of December 31, 2011 and 2010, and the results of its operations and its cash flows for the years then ended, in conformity
with U.S. generally accepted accounting principles.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">/s/ HEIN &amp; ASSOCIATES
LLP</P>

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

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

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">March 8, 2012</P>

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

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

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0"><BR>
&#160;</P>

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

<!-- Field: Page; Sequence: 133; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>(in thousands, except shares
and par value)</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-decoration: underline; text-align: center; text-indent: 0pt">ASSETS</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Current Assets:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 72%; padding-left: 9pt; text-indent: 0pt">Cash and cash equivalents</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">8,914</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">8,736</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 18pt">Accounts receivable, net of allowance for doubtful accounts of $24 and $287, respectively</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">28,140</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">25,855</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Inventories</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">16,131</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">17,306</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Prepaid inventory</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">9,239</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,715</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 9pt; text-indent: 0pt">Other current assets</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">4,324</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">2,712</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 18pt; text-indent: 0pt">Total current assets</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">66,748</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">57,324</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Total property and equipment, net</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">159,617</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">168,976</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Other Assets:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Intangible assets, net</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">4,458</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5,382</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 9pt; text-indent: 0pt">Other assets</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">1,653</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">2,401</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 27pt; text-indent: 0pt">Total other assets</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">6,111</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">7,783</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; font-weight: bold; padding-left: 72pt; text-indent: -72pt">Total Assets (a)</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">232,476</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">234,083</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="text-align: justify; margin: 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 4pt"><DIV STYLE="font-size: 1pt; border-top: black 1px solid; width: 10%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right; width: 36pt; font-weight: bold">(a)&#160;&#160;</TD>
    <TD STYLE="text-align: justify; text-indent: 0pt">Assets of consolidated variable interest entities that can only be used to settle obligations of those entities were $173,606 and $183,652 as of December 31, 2011 and 2010, respectively.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The accompanying notes are
an integral part of these consolidated financial statements.</P>

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

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

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

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

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

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

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

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

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

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

<!-- Field: Page; Sequence: 134; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>&#160;</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>CONSOLIDATED BALANCE SHEETS
(CONTINUED)</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>(in thousands, except shares
and par value)</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-decoration: underline; text-align: center; text-indent: 0pt">LIABILITIES AND STOCKHOLDERS&#8217; EQUITY (DEFICIT)</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; padding-left: 9pt; text-indent: -9pt">Current Liabilities:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 72%; padding-left: 9pt; text-indent: 0pt">Accounts payable &#8211; trade</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">5,519</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">6,472</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Accrued liabilities</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,713</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,251</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 18pt; text-indent: -9pt">Current portion &#8211; long-term debt (including $750 and $0 due to a related party, respectively, and $0 and $38,108 at fair value, respectively)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">750</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">38,108</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Total current liabilities</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">8,982</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">47,831</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 18pt; text-indent: -9pt">Long-term debt, net of current portion (including $0 and $1,250 due to related parties, respectively)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">93,689</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">84,981</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Accrued preferred dividends</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">7,315</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">6,050</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 9pt; text-indent: 0pt">Other liabilities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">3,226</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">7,406</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; font-weight: bold; text-indent: 0pt">Total Liabilities (b)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">113,212</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">146,268</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <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 NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Commitments and contingencies (Notes 1, 5, 6 and 12)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Stockholders&#8217; Equity:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 18pt; text-indent: -9pt">Preferred stock, $0.001 par value; 10,000,000 shares authorized:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 18pt; text-indent: -9pt">&#160;&#160;&#160;Series A: 1,684,375 shares authorized; 0 shares issued and outstanding as of December&#160;31, 2011 and 2010</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -18pt">&#160;&#160;&#160;Series B: 1,580,790 shares authorized; 926,942 and 1,455,924 shares issued and outstanding as of December&#160;31, 2011 and 2010, respectively; liquidation preference of $25,390 as of December 31, 2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-right: 25.55pt; padding-left: 18pt; text-indent: -9pt">Common stock, $0.001 par value; 300,000,000 shares authorized; 86,631,664 and 12,918,144 shares issued and outstanding as of December&#160;31, 2011 and 2010, respectively</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">87</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">13</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Additional paid-in capital</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">556,871</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">504,623</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 9pt; text-indent: 0pt">Accumulated deficit</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(509,985</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(511,794</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 27pt; text-indent: 0pt">Total Pacific Ethanol, Inc. Stockholders&#8217; Equity (Deficit)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">46,974</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(7,157</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 9pt; text-indent: 0pt">Noncontrolling interest in variable interest entities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">72,290</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">94,972</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 27pt; text-indent: 0pt">Total stockholders&#8217; equity</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">119,264</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">87,815</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; font-weight: bold; text-indent: 0pt">Total Liabilities and Stockholders&#8217; Equity</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">232,476</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">234,083</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"><B>&#160;</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 4pt"><DIV STYLE="font-size: 1pt; border-top: black 1px solid; width: 10%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18pt">&nbsp;</TD>
    <TD STYLE="width: 18pt; font-weight: bold; text-indent: 0pt">(b)</TD>
    <TD STYLE="text-align: left">Liabilities of consolidated variable interest entities for which creditors do not have recourse to the general credit of the Company were $76,478 and $74,939, as of December 31, 2011 and 2010, respectively.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The accompanying notes are
an integral part of these consolidated financial statements.</P>

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

<!-- Field: Page; Sequence: 135; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>&#160;</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>CONSOLIDATED STATEMENTS
OF OPERATIONS</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>(in thousands, except per
share data)</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Years Ended December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 72%; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Net sales</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">901,188</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">328,332</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; text-align: justify; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Cost of goods sold</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">881,789</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">329,143</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Gross profit (loss)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">19,399</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(811</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-right: 6.4pt; padding-left: 9pt; text-indent: -9pt">Selling, general and administrative expenses</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">15,427</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">12,956</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; padding-right: 18.9pt; padding-left: 27pt; text-indent: -27pt">Income (loss) from operations</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,972</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(13,767</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Fair value adjustments on convertible notes and warrants</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">7,559</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(11,736</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; padding-right: -3.6pt; padding-left: 9pt; text-indent: -9pt">Loss on investment in Front Range</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(12,146</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; padding-right: -3.6pt; padding-left: 9pt; text-indent: -9pt">Loss on extinguishments of debt</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,159</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; padding-right: -3.6pt; padding-left: 9pt; text-indent: -9pt">Interest expense, net</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(14,813</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(6,804</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; text-align: justify; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Other income (expense), net</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(741</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">840</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Loss before reorganization costs, gain from bankruptcy exit and provision for income taxes</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(4,023</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(45,772</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Reorganization costs</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(4,153</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Gain from bankruptcy exit</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">119,408</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; text-align: justify; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Provision for income taxes</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Consolidated net income (loss)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(4,023</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">69,483</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: -9pt; padding-left: 9pt">Net loss attributed to noncontrolling interest in variable interest entities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">7,097</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">4,409</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="padding-bottom: 4px; text-align: justify; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Net income attributed to Pacific Ethanol, Inc.</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">3,074</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">73,892</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="padding-bottom: 4px; text-align: justify; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Preferred stock dividends</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(1,265</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(2,847</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="padding-bottom: 4px; text-align: justify; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Income available to common stockholders</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">1,809</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">71,045</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="padding-bottom: 4px; text-align: justify; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Income per share, basic</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">0.05</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">6.76</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="padding-bottom: 4px; text-align: justify; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Income per share, diluted</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">0.05</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">5.57</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Weighted-average shares outstanding, basic</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">33,733</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">10,514</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-right: 18.9pt; padding-left: 9pt; text-indent: -9pt">Weighted-average shares outstanding, diluted</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">33,984</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">13,377</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The accompanying notes are
an integral part of these consolidated financial statements.</P>

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

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

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

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

<!-- Field: Page; Sequence: 136; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>&#160;</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>CONSOLIDATED STATEMENTS
OF STOCKHOLDERS&#8217; EQUITY</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>FOR THE YEARS ENDED DECEMBER
31, 2011 and 2010</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>(in thousands)</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 9pt">Additional</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 9pt">Non-controlling</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid; text-align: center"><FONT STYLE="font-size: 9pt">&#160;<FONT STYLE="font-family: Times New Roman, Times, Serif">Preferred
    Stock</FONT></FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid; text-align: center"><FONT STYLE="font-size: 9pt">Common Stock</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 2px; text-indent: 0pt"><FONT STYLE="font-size: 9pt">Paid-In</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">Accumulated</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">Interest</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Shares</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Amount</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Shares</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Amount</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Capital</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center"><FONT STYLE="font-size: 9pt">Deficit</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center"><FONT STYLE="font-size: 9pt">in VIE</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Total</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="width: 20%; text-align: left; text-indent: -9pt; font-weight: bold; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Balances,
    January 1, 2010</FONT></TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">2,346</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">2</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">8,210</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">8</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">480,997</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">(581,076</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">42,271</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">(57,798</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Deconsolidation of Front Range</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(1,763</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(42,271</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(44,034</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Consolidation of New PE Holdco</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">99,381</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">99,381</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 9pt">Stock-based compensation expense
    &#8211; restricted stock to employees and directors, net of cancellations</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">560</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">1</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">2,470</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">2,471</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Conversion of preferred stock
    to common stock</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(890</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(1</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">707</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">1</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Shares issued in debt extinguishments</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">3,441</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">3</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">21,156</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">21,159</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Preferred stock dividends</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(2,847</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(2,847</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Net income
    (loss)</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">73,892</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">(4,409</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">69,483</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 0pt; font-weight: bold"><FONT STYLE="font-size: 9pt">Balances,
    December 31, 2010</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">1,456</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">1</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">12,918</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">13</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">504,623</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">(511,794</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">94,972</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">87,815</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Stock-based compensation expense
    &#8211; restricted stock and options to employees and directors, net of cancellations</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">264</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">2,278</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">2,278</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Conversion of preferred stock
    to common stock</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(529</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">444</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Shares issued on Convertible
    Notes</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">63,859</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">64</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">36,800</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">36,864</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Shares issued in private placement</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">7,625</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">8</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">5,547</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">5,555</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Warrant exercises</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">1,522</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">2</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">1,155</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">1,157</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Purchase of interests in New
    PE Holdco</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">6,468</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(15,585</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(9,117</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Preferred stock dividends</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(1,265</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">(1,265</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Net income
    (loss)</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">3,074</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">(7,097</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right"><FONT STYLE="font-size: 9pt">(4,023</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: -9pt; font-weight: bold; padding-left: 9pt"><FONT STYLE="font-size: 9pt">Balances,
    December 31, 2011</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">927</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">1</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">86,632</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">87</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">556,871</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">(509,985</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">)</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">72,290</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left"><FONT STYLE="font-size: 9pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right"><FONT STYLE="font-size: 9pt">119,264</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The accompanying notes are
an integral part of these consolidated financial statements.<BR>
</P>

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

<!-- Field: Page; Sequence: 137; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>&#160;</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>CONSOLIDATED STATEMENTS
OF CASH FLOWS</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>(in thousands)<BR>
</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">For the Years Ended December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Operating Activities:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 72%; padding-left: 18pt; text-indent: -9pt">Consolidated net income (loss)</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">(4,023</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">)</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">69,483</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 18pt">Adjustments to reconcile consolidated net income (loss) to cash used in operating activities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 27pt">Fair value adjustments on convertible notes and&#160;&#160;warrants</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(7,559</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">11,736</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Depreciation and amortization of intangibles</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">12,648</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">9,110</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Inventory valuation</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">47</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(490</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Gain on derivative instruments</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(96</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,049</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Amortization of deferred financing costs</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">651</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,001</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Non-cash compensation</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,278</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,471</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Bad debt recovery</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(218</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(184</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Interest on convertible debt paid with stock</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,076</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Gain on bankruptcy exit</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(119,408</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Loss on investment in Front Range, held for sale</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">12,146</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Loss on extinguishments of debt</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,159</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Bargain purchase of New PE Holdco</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,566</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Equity earnings on Front Range</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">928</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 18pt; text-indent: -9pt">Changes in operating assets and liabilities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Accounts receivable</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,067</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(13,789</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Inventories</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,128</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(7,462</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Prepaid expenses and other assets</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(933</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(516</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Prepaid inventory</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(6,524</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">477</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-right: -5.25pt; padding-left: 45pt; text-indent: -18pt">Accounts payable and accrued expenses</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(2,358</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,968</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 54pt; text-indent: -18pt">Net cash used in operating activities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(3,950</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(36,921</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Investing Activities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Additions to property and equipment</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(2,365</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(643</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 18pt; text-indent: -9pt">Investments in New PE Holdco, net of cash acquired</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(9,117</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(19,494</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 18pt; text-indent: -9pt">Proceeds from sale of investment in Front Range</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">18,500</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 18pt; text-indent: -9pt">Net cash impact of deconsolidation of Front Range</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(10,486</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 27pt; text-indent: -18pt">Net cash impact of bankruptcy exit</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,301</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 36pt; text-indent: 0pt">Net cash used in investing activities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(11,482</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(13,424</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Financing Activities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Net proceeds from common stock and warrants</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">7,364</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Proceeds from convertible notes and warrants</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">35,000</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Principal payments on convertible notes</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,212</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Payments for debt issuance costs</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,909</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Proceeds from borrowings under DIP financing</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5,173</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Net proceeds from other borrowings</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">9,958</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">17,522</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 9pt; text-indent: 0pt">Principal payments paid on related party borrowings</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(500</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(13,250</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 36pt; text-indent: 0pt">Net cash provided by financing activities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">15,610</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">41,536</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Net increase (decrease) in cash and cash equivalents</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">178</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(8,809</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Cash and cash equivalents at beginning of period</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">8,736</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">17,545</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 0pt">Cash and cash equivalents at end of period</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">8,914</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">8,736</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Supplemental Information:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 9pt; text-indent: 0pt">Interest paid</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">11,669</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">9,771</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Non-cash financing and investing activities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 9pt; text-indent: 0pt">Preferred stock dividends accrued</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">1,265</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">2,847</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 9pt; text-indent: 0pt">Debt extinguished with issuance of common stock</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">33,788</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">19,000</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 9pt; text-indent: 0pt">Reclass of warrant liability to equity upon cashless net exercise of warrants</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">1,157</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The accompanying notes are
an integral part of these consolidated financial statements.</P>

<!-- Field: Page; Sequence: 138; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

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

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

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">1.</TD>
    <TD STYLE="width: 1187px; font-variant: small-caps; text-align: left">ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Organization and Business</U></I>
&#8211; The consolidated financial statements include the accounts of Pacific Ethanol, Inc., a Delaware corporation (&#8220;Pacific
Ethanol&#8221;), and its wholly-owned subsidiaries, including Pacific Ethanol California, Inc., a California corporation (&#8220;PEI
California&#8221;), Kinergy Marketing, LLC, an Oregon limited liability company (&#8220;Kinergy&#8221;) and Pacific Ag. Products,
LLC, a California limited liability company (&#8220;PAP&#8221;) for all periods presented, and for the periods specified below,
New PE Holdco, which owns the Plant Owners (each as defined below) (collectively, the &#8220;Company&#8221;).</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company is the leading
marketer and producer of low carbon renewable fuels in the Western United States. The Company also sells ethanol co-products, including
wet distillers grain (&#8220;WDG&#8221;), and provides transportation, storage and delivery of ethanol through third-party service
providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado, Idaho and Washington.
The Company sells ethanol produced by the Pacific Ethanol Plants (as defined below) and unrelated third parties to gasoline refining
and distribution companies and sells its WDG to dairy operators and animal feed distributors.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">On May 17, 2009, five indirect
wholly-owned subsidiaries of Pacific Ethanol, Inc., namely, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia, LLC, Pacific
Ethanol Stockton, LLC and Pacific Ethanol Magic Valley, LLC (collectively, the &#8220;Pacific Ethanol Plants&#8221;) and Pacific
Ethanol Holding Co. LLC (together with the Pacific Ethanol Plants, the &#8220;Plant Owners&#8221;) each filed voluntary petitions
for relief under chapter 11 of Title 11 of the United States Code (the &#8220;Bankruptcy Code&#8221;) in the United States Bankruptcy
Court for the District of Delaware (the &#8220;Bankruptcy Court&#8221;) in an effort to restructure their indebtedness (the &#8220;Chapter
11 Filings&#8221;). Pacific Ethanol, PEI California, Kinergy and PAP did not, at any time, file for protection under the Bankruptcy
Code.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">On June 29, 2010 (the &#8220;Effective
Date&#8221;), the Plant Owners declared effective their amended joint plan of reorganization (the &#8220;Plan&#8221;) with the
Bankruptcy Court, which was structured in cooperation with certain of the Plant Owners&#8217; secured lenders. Under the Plan,
on the Effective Date, 100% of the ownership interests in the Plant Owners were transferred to a newly-formed limited liability
company, New PE Holdco, LLC (&#8220;New PE Holdco&#8221;) which became at that time wholly-owned by certain prepetition lenders,
resulting in each of the Plant Owners becoming wholly-owned subsidiaries of New PE Holdco.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company manages the production
and operation of the Pacific Ethanol Plants. These four facilities have an aggregate annual production capacity of up to 200 million
gallons. As of December 31, 2011, three of the facilities were operating and one of the facilities was idled. When market conditions
permit, and with approval of New PE Holdco, the Company intends to resume operations at the Madera, California facility.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">On October 6, 2010, the Company
purchased a 20% ownership interest in New PE Holdco, a variable interest entity (&#8220;VIE&#8221;), from a number of New PE Holdco&#8217;s
owners. At that time, the Company determined it was the primary beneficiary of New PE Holdco, and as such, has consolidated the
results of New PE Holdco since then. See Note 2 &#8211; Variable Interest Entities. On each of November 29, 2011 and December 19,
2011, the Company purchased an additional 7% interest in New PE Holdco, bringing the Company&#8217;s total ownership interest in
New PE Holdco to 34%. As of December 31, 2011, the Company held a 34% ownership interest in New PE Holdco.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Basis of Presentation</U></I>
&#8211; The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally
accepted in United States (&#8220;GAAP&#8221;) and include the accounts of the Company. All significant intercompany accounts and
transactions have been eliminated in consolidation.</P>

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

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

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

<P STYLE="text-align: justify; margin: 0"><BR>
&#160;</P>

<!-- Field: Page; Sequence: 139; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

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

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

<P STYLE="margin: 0; text-align: justify"><I><U>Consolidation of Variable Interest Entities</U></I> &#8211; Effective January
1, 2010, the Company adopted the amended guidance in the Financial Standards Accounting Board&#8217;s Accounting Standards Codification
810, <I>Consolidation</I>, surrounding a company&#8217;s analysis to determine whether any of its variable interests constitute
controlling financial interests in a VIE. This analysis identifies the primary beneficiary of a VIE as the enterprise that has
both of the following characteristics: (i) the power to direct the activities of a VIE that most significantly impact the entity&#8217;s
economic performance, and (ii) the obligation to absorb losses of the entity that could potentially be significant to the VIE
or the right to receive benefits from the entity that could potentially be significant to the VIE. Additionally, an enterprise
is required to assess whether it has an implicit financial responsibility to ensure that a VIE operates as designed when determining
whether it has the power to direct the activities of the VIE that most significantly impact the entity&#8217;s economic performance.
The amended guidance also requires ongoing reassessments of whether an enterprise is the primary beneficiary of a VIE.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Since January 1, 2010, the
Company identified Front Range Energy, LLC (&#8220;Front Range&#8221;), an entity in which the Company held a 42% ownership interest,
and New PE Holdco as VIEs.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Prior to January 1, 2010,
under the original guidance, the Company determined that it must consolidate Front Range, which owns an ethanol plant located in
Windsor, Colorado, with an annual production capacity of up to 50 million gallons. Under the amended guidance, the Company determined
effective January 1, 2010, that it was no longer the primary beneficiary of Front Range and, as a result, no longer consolidated
Front Range&#8217;s results and instead recorded its investment in Front Range under the equity method of accounting. On October
6, 2010, the Company sold its entire 42% ownership interest in Front Range.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">On the Effective Date, the
Company determined that New PE Holdco was a VIE, however, the Company did not believe it was New PE Holdco&#8217;s primary beneficiary.
On October 6, 2010, upon the Company&#8217;s purchase of a 20% interest in New PE Holdco, the Company determined that it was New
PE Holdco&#8217;s primary beneficiary and began consolidating the results of New PE Holdco. As long as the Company is deemed New
PE Holdco&#8217;s primary beneficiary, the Company must treat New PE Holdco as a consolidated subsidiary for financial reporting
purposes.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Reverse Stock Split</U></I>
&#8211; On June 8, 2011, the Company effected a one-for-seven reverse stock split. All share and per share information has been
restated to retroactively show the effect of this stock split.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Liquidity</U></I> &#8211;
The Company believes that current and future available capital resources, revenues generated from operations, and other existing
sources of liquidity, including its credit facilities, will be adequate to meet its anticipated working capital and capital expenditure
requirements for at least the next twelve months. If, however, the Company&#8217;s capital requirements or cash flow vary materially
from its current projections, if unforeseen circumstances occur, or if the Company requires a significant amount of cash to fund
future acquisitions, the Company may require additional financing. The Company&#8217;s failure to raise capital, if needed, could
restrict its growth, or hinder its ability to compete.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Cash and Cash Equivalents</U></I>
&#8211; The Company considers all highly-liquid investments with an original maturity of three months or less to be cash equivalents.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Accounts Receivable
and Allowance for Doubtful Accounts</U></I> &#8211; Trade accounts receivable are presented at face value, net of the allowance
for doubtful accounts. The Company sells ethanol to gasoline refining and distribution companies and sells WDG to dairy operators
and animal feed distributors generally without requiring collateral. Due to a limited number of ethanol customers, the Company
had significant concentrations of credit risk from sales of ethanol as of December 31, 2011 and 2010, as described below.</P>

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

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

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

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

<!-- Field: Page; Sequence: 140; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

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

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

<P STYLE="margin: 0; text-align: justify">The Company maintains an allowance for doubtful accounts for balances that appear to have specific collection
issues. The collection process is based on the age of the invoice and requires attempted contacts with the customer at specified
intervals. If, after a specified number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance
is recorded for the balance in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts
once uncollectibility has been determined. The factors considered in reaching this determination are the apparent financial condition
of the customer and the Company&#8217;s success in contacting and negotiating with the customer. If the financial condition of
the Company&#8217;s customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances
may be required.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Of the accounts receivable
balance, approximately $23,715,000 and $20,977,000 at December 31, 2011 and 2010, respectively, were used as collateral under Kinergy&#8217;s
working capital line of credit. The allowance for doubtful accounts was $24,000 and $287,000 as of December 31, 2011 and 2010,
respectively. The Company recorded a bad debt recovery of $218,000 and $184,000 for the years ended December 31, 2011 and 2010,
respectively. The Company does not have any off-balance sheet credit exposure related to its customers.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Concentrations of Credit
Risk</U></I> &#8211; Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties
failed completely to perform as contracted. Concentrations of credit risk, whether on- or off-balance sheet, that arise from financial
instruments exist for groups of customers or counterparties when they have similar economic characteristics that would cause their
ability to meet contractual obligations to be similarly affected by changes in economic or other conditions described below. Financial
instruments that subject the Company to credit risk consist of cash balances maintained in excess of federal depository insurance
limits and accounts receivable, which have no collateral or security. The Company has not experienced any losses in such accounts
and believes that it is not exposed to any significant risk of loss of cash.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company sells fuel-grade
ethanol to gasoline refining and distribution companies. The Company had one customer representing 22% and 19% of total net sales
for the years ended December 31, 2011 and 2010, respectively. The Company did not have any other customers with sales of 10% or
more of total net sales.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company had accounts
receivable due from this customer totaling $6,267,000 and $6,326,000, representing 22% and 24% of total accounts receivable as
of December 31, 2011 and 2010, respectively.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company purchases fuel-grade
ethanol and corn, its largest cost component in producing ethanol, from its suppliers. The Company had purchases from ethanol and
corn suppliers representing 10% or more of total purchases by the Company in the purchase and production of ethanol as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Years Ended December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 32%; text-indent: 0pt">Supplier A</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">39</TD>
    <TD NOWRAP STYLE="width: 5%; text-align: left">%</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">31</TD>
    <TD NOWRAP STYLE="width: 5%; text-align: left">%</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Supplier B</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">13</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">16</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Supplier C</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">12</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">13</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0"><BR>
&#160;</P>

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

<!-- Field: Page; Sequence: 141; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

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

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Inventories</U>&#160;</I>&#8211;
Inventories consisted primarily of bulk ethanol and unleaded fuel, and are valued at the lower-of-cost-or-market, with cost determined
on a first-in, first-out basis. Inventory balances consisted of the following (in thousands):</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 32%; text-indent: 0pt">Finished goods</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">9,429</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">11,105</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Work in progress</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">4,284</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">4,087</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Raw materials</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,334</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,308</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Other</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">1,084</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">806</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 0pt">Total</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">16,131</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">17,306</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Property and Equipment</U></I>
&#8211; Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the following estimated
useful lives:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="background-color: #eeeeee; text-align: center; vertical-align: top">
    <TD STYLE="text-align: left; width: 30%; text-indent: 0pt">Buildings</TD>
    <TD STYLE="width: 18%; text-align: right; text-indent: 0pt">&#160;40 years</TD></TR>
<TR STYLE="background-color: white; vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0pt">Facilities and plant equipment</TD>
    <TD STYLE="text-align: right; text-indent: 0pt">&#160;10 &#8211; 25 years</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 0pt">Other equipment, vehicles and furniture</TD>
    <TD STYLE="text-align: right; text-indent: 0pt">&#160;5 &#8211; 10 years</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The cost of normal maintenance
and repairs is charged to operations as incurred. Significant capital expenditures that increase the life of an asset are capitalized
and depreciated over the estimated remaining useful life of the asset. The cost of fixed assets sold, or otherwise disposed of,
and the related accumulated depreciation or amortization are removed from the accounts, and any resulting gains or losses are reflected
in current operations.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Intangible Assets</U></I>
&#8211; The Company amortizes intangible assets with definite lives using the straight-line method over their established lives,
generally 2-10 years. Additionally, the Company tests these assets with established lives for impairment if conditions exist that
indicate that carrying values may not be recoverable. Possible conditions leading to the unrecoverability of these assets include
changes in market conditions, changes in future economic conditions or changes in technological feasibility that impact the Company&#8217;s
assessments of future operations. If the Company determines that an impairment charge is needed, the charge will be recorded in
selling, general and administrative expenses in the consolidated statements of operations.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Deferred Financing
Costs</U></I> &#8211; Deferred financing costs, which are included in other assets, are costs incurred to obtain debt financing,
including all related fees, and are amortized as interest expense over the term of the related financing using the straight-line
method which approximates the interest rate method. Amortization of deferred financing costs was $651,000 and $1,001,000 for the
years ended December 31, 2011 and 2010, respectively. Unamortized deferred financing costs were approximately $1,017,000 at December
31, 2011 and are recorded in other assets in the consolidated balance sheets.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Derivative Instruments
and Hedging Activities</U></I> &#8211; Derivative transactions, which can include forward contracts and futures positions on the
New York Mercantile Exchange and the Chicago Board of Trade and interest rate caps and swaps are recorded on the balance sheet
as assets and liabilities based on the derivative&#8217;s fair value. Changes in the fair value of derivative contracts are recognized
currently in income unless specific hedge accounting criteria are met. If derivatives meet those criteria, effective gains and
losses are deferred in accumulated other comprehensive income (loss) and later recorded together with the hedged item in consolidated
income (loss). For derivatives designated as a cash flow hedge, the Company formally documents the hedge and assesses the effectiveness
with associated transactions. The Company has designated and documented contracts for the physical delivery of commodity products
to and from counterparties as normal purchases and normal sales.</P>

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

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

<!-- Field: Page; Sequence: 142; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

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

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Revenue Recognition</U></I>
&#8211; The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or
realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable,
and collection is reasonably assured. The Company derives revenue primarily from sales of ethanol and related co-products. The
Company recognizes revenue when title transfers to its customers, which is generally upon the delivery of these products to a customer&#8217;s
designated location. These deliveries are made in accordance with sales commitments and related sales orders entered into with
customers either verbally or in written form. The sales commitments and related sales orders provide quantities, pricing and conditions
of sales. In this regard, the Company engages in three basic types of revenue generating transactions:</P>

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

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36pt">&nbsp;</TD>
    <TD STYLE="width: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#183;</FONT></TD>
    <TD STYLE="font-style: italic; text-align: justify">As a producer. <FONT STYLE="font-weight: normal; font-style: normal">Sales
    as a producer consist of sales of the Company&#8217;s inventory produced at the Pacific Ethanol Plants.</FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36pt">&nbsp;</TD>
    <TD STYLE="width: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#183;</FONT></TD>
    <TD STYLE="font-style: italic; text-align: justify">As a merchant. <FONT STYLE="font-weight: normal; font-style: normal">Sales
    as a merchant consist of sales to customers through purchases from third-party suppliers in which the Company may or may not
    obtain physical control of the ethanol or co-products, in which shipments are directed from the Company&#8217;s suppliers
    to its terminals or direct to its customers but for which the Company accepts the risk of loss in the transactions.</FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36pt">&nbsp;</TD>
    <TD STYLE="width: 27pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#183;</FONT></TD>
    <TD STYLE="font-style: italic; text-align: justify">As an agent. <FONT STYLE="font-weight: normal; font-style: normal">Sales
    as an agent consist of sales to customers through purchases from third-party suppliers in which the risks and rewards of inventory
    ownership remain with third-party suppliers and the Company receives a predetermined service fee under these transactions.</FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Revenue from sales of third-party
ethanol and co-products is recorded net of costs when the Company is acting as an agent between a customer and a supplier and gross
when the Company is a principal to the transaction. The Company recorded $2,856,000 and $3,043,000 in net sales when acting as
an agent for the years ended December 31, 2011 and 2010, respectively. Several factors are considered to determine whether the
Company is acting as an agent or principal, most notably whether the Company is the primary obligor to the customer and whether
the Company has inventory risk and related risk of loss or whether the Company adds meaningful value to the supplier&#8217;s product
or service. Consideration is also given to whether the Company has latitude in establishing the sales price or has credit risk,
or both. When the Company acts as an agent, it recognizes revenue on a net basis or recognizes its predetermined fees and any associated
freight, based upon the amount of net revenues retained in excess of amounts paid to suppliers.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company records revenues
based upon the gross amounts billed to its customers in transactions where the Company acts as a producer or a merchant and obtains
title to ethanol and its co-products and therefore owns the product and any related, unmitigated inventory risk for the ethanol,
regardless of whether the Company actually obtains physical control of the product.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Shipping and Handling
Costs</U></I> &#8211; Shipping and handling costs are classified as a component of cost of goods sold in the accompanying consolidated
statements of operations.</P>

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

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

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0"><BR>
&#160;</P>

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

<!-- Field: Page; Sequence: 143; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>California Ethanol
Producer Incentive Program</U></I> &#8211; The Company is eligible to participate in the California Ethanol Producer Incentive
Program (&#8220;CEPIP&#8221;) through the Pacific Ethanol Plants located in California. The CEPIP is a program that may provide
funds to an eligible California facility&#8212;up to $0.25 per gallon of production&#8212;when current production corn crush spreads,
measured as the difference between specified ethanol and corn index prices, drop below $0.55 per gallon. The program may provide
up to $3,000,000 per plant per year of operation through 2014. For any month in which a payment is made by the CEPIP, the Company
may be required to reimburse the funds within the subsequent five years from each payment date, if the corn crush spreads exceed
$1.00 per gallon. Since these funds are provided to subsidize current production costs and encourage eligible facilities to either
continue production or start up production in low margin environments, the Company records the proceeds, if any, as a credit to
cost of goods sold. The Company will assess the likelihood of reimbursement in future periods as corn crush spreads approach $1.00
per gallon. If it becomes likely that amounts may be reimbursable by the Company, the Company will accrue a liability for such
payment and recognize the costs as an increase in cost of goods sold. The Company recorded $1,481,000 and $519,000 as a reduction
to cost of goods sold for the years ended December 31, 2011 and 2010, respectively, in respect of CEPIP payments received. To date,
the Company has not been required to reimburse any amounts, and based on historical corn crush spreads, the Company does not believe
it will be required to make any reimbursements in the foreseeable future.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Stock-Based Compensation</U></I>
&#8211; The Company accounts for the cost of employee services received in exchange for the award of equity instruments based on
the fair value of the award, determined on the date of grant. The expense is to be recognized over the period during which an employee
is required to provide services in exchange for the award. The Company estimates forfeitures at the time of grant and makes revisions,
if necessary, in the second quarter of each year if actual forfeitures differ from those estimates. Based on historical experience,
the Company estimated future unvested forfeitures at 5% for the years ended December 31, 2011 and 2010. The Company recognizes
stock-based compensation expense as a component of selling, general and administrative expenses in the consolidated statements
of operations.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Impairment of Long-Lived
Assets</U></I> &#8211; The Company assesses the impairment of long-lived assets, including property and equipment and purchased
intangibles subject to amortization, when events or changes in circumstances indicate that the fair value of assets could be less
than their net book value. In such event, the Company assesses long-lived assets for impairment by first determining the forecasted,
undiscounted cash flows the asset is expected to generate plus the net proceeds expected from the sale of the asset. If this amount
is less than the carrying value of the asset, the Company will then determine the fair value of the asset. An impairment loss would
be recognized when the fair value is less than the related asset&#8217;s net book value, and an impairment expense would be recorded
in the amount of the difference. Forecasts of future cash flows are judgments based on the Company&#8217;s experience and knowledge
of its operations and the industries in which it operates. These forecasts could be significantly affected by future changes in
market conditions, the economic environment, including inflation, and purchasing decisions of the Company&#8217;s customers.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Income Taxes</U></I>
&#8211; Income taxes are accounted for under the asset and liability approach, where deferred tax assets and liabilities are determined
based on differences between financial reporting and tax basis of assets and liabilities, and are measured using enacted tax rates
and laws that are expected to be in effect when the differences reverse. Valuation allowances are established when necessary to
reduce deferred tax assets to the amounts expected to be realized.</P>

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

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company accounts for
uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to
evaluate the tax position for recognition by determining whether it is more likely than not that the position will be sustained
on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit
as the largest amount which is more than 50% likely of being realized upon ultimate settlement. An uncertain tax position is considered
effectively settled on completion of an examination by a taxing authority if certain other conditions are satisfied. Should the
Company incur interest and penalties relating to tax uncertainties, such amounts would be classified as a component of interest
expense, net and other income (expense), net, respectively.</P>

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

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

<P STYLE="text-align: justify; margin: 0"><BR>
&#160;</P>

<!-- Field: Page; Sequence: 144; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

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

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Income Per Share</U></I>
&#8211; Basic income per share is computed on the basis of the weighted-average number of shares of common stock outstanding during
the period. Preferred dividends are deducted from net income attributed to Pacific Ethanol, Inc. and are considered in the calculation
of income available to common stockholders in computing basic income per share.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The following tables compute
basic and diluted earnings per share (in thousands, except per share data):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Year Ended December 31, 2011</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Income</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Numerator</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Shares</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Denominator</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Per-Share</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Amount</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Net income attributed to Pacific Ethanol, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">3,074</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; text-align: justify; text-indent: 0pt">Preferred stock dividends</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,265</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; padding-left: 9pt; text-indent: -9pt">Basic income per share:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="width: 58%; padding-bottom: 4px; text-align: justify; text-indent: 0pt">Income available to common stockholders</TD>
    <TD STYLE="width: 1%; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right; padding-bottom: 4px">1,809</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right; padding-bottom: 4px">33,733</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 4px double; text-align: right">0.05</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Warrants</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">194</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; text-align: justify; text-indent: 0pt">Options</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">57</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; padding-left: 9pt; text-indent: -9pt">Diluted income per share:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 9pt; text-indent: -9pt">Income available to common stockholders</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">1,809</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">33,984</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">0.05</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Year Ended December 31, 2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 4px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; padding-bottom: 2px">
        <P STYLE="margin: 0">Income</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Numerator</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 4px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 4px double; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Shares</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">D<FONT STYLE="font: 10pt Times New Roman, Times, Serif">enominator</FONT></P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 4px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 4px double; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Per-Share</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Amount</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Net income attributed to Pacific Ethanol, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">73,892</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; text-align: justify; text-indent: 0pt">Preferred stock dividends</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(2,847</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; padding-left: 9pt; text-indent: -9pt">Basic income per share:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="width: 58%; padding-bottom: 4px; text-align: justify; text-indent: 0pt">Income available to common stockholders</TD>
    <TD STYLE="width: 1%; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right; padding-bottom: 4px">71,045</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right; padding-bottom: 4px">10,514</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 4px double; text-align: right">6.76</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Convertible notes</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">657</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,524</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Preferred stock dividends</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,847</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,198</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; text-align: justify; text-indent: 0pt">Warrants</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">141</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; padding-left: 9pt; text-indent: -9pt">Diluted income per share:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 9pt; text-indent: -9pt">Income available to common stockholders</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">74,549</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">13,377</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">5.57</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company has accrued and
unpaid dividends of $7,315,000, or $0.08 per share of common stock outstanding as of December 31, 2011, in respect of its Series
B Cumulative Convertible Preferred Stock (&#8220;Series B Preferred Stock&#8221;).</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">There were an aggregate of
815,000 and 1,666,000 potentially dilutive shares from convertible securities outstanding as of December 31, 2011 and 2010, respectively.
These convertible securities were not considered in calculating diluted income per common share for the years ended December 31,
2011 and 2010, as their effect would be anti-dilutive.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Financial Instruments</U></I>
&#8211; The carrying values of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities are reasonable
estimates of their fair values because of the short maturity of these items. The Company recorded at fair value its convertible
notes and warrants. The Company believes the carrying values of its other notes payable and long-term debt approximate fair value
because the interest rates on these instruments are variable.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 145; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Estimates and Assumptions</U></I>
&#8211; The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and 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 are required as part of determining the consolidation of VIEs, fair value of convertible notes and warrants, allowance
for doubtful accounts, estimated lives of property and equipment and intangibles, long-lived asset impairments, valuation allowances
on deferred income taxes and the potential outcome of future tax consequences of events recognized in the Company&#8217;s financial
statements or tax returns. Actual results and outcomes may materially differ from management&#8217;s estimates and assumptions.</P>

<P STYLE="margin: 0pt">&nbsp;</P> <P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Subsequent
Events</U></I> &ndash; Management evaluates, as of each reporting period, events or transactions that occur after the balance
sheet date through the date that the financial statements are issued for either disclosure or adjustment to the consolidated financial
results. The Company has evaluated subsequent events up through March 8, 2012, the date of the filing of the Company&rsquo;s Annual
Report on Form 10-K for the year ended December 31, 2011 with the Securities and Exchange Commission.</P>



<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Reclassifications</U></I>
&#8211; Certain prior year amounts have been reclassified to conform to the current presentation. Such reclassification had no
effect on the consolidated net income (loss) reported in the consolidated statements of operations.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Recent Accounting Pronouncements</U></I>
&#8211; On May 12, 2011, the Financial Accounting Standards Board issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2011-04,
<I>Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S.
GAAP and IFRS</I>. ASU No. 2011-04 was issued concurrently with International Financial Reporting Standards (&#8220;IFRS&#8221;)
13 <I>Fair Value Measurements</I>, to provide largely identical guidance about fair value measurement and disclosure requirements.
The new standards do not extend the use of fair value but, rather, provide guidance about how fair value should be applied where
it already is required or permitted under IFRS or U.S. GAAP. This standard is effective prospectively for interim and annual periods
beginning after December 15, 2011. The Company does not expect the adoption of this standard to have a material effect on the Company&#8217;s
consolidated financial position, results of operations or cash flows.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">2.</TD>
    <TD STYLE="width: 1187px; text-align: left">VARIABLE INTEREST ENTITIES.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Consolidation of New
PE Holdco</U></I> &#8211; The Company concluded that at all times since its inception, New PE Holdco has been a VIE because the
owners of New PE Holdco, due to the Company&#8217;s involvement through the contractual arrangements discussed below, have at all
times lacked the power to direct the activities that most significantly impacted its economic performance. Some of these activities
include efficient management and operation of the Pacific Ethanol Plants, sale of ethanol, the procurement of feedstock, sale of
co-products and implementation of risk management strategies. At the time of its inception, however, the Company did not have an
obligation to absorb losses or receive benefits that could potentially be significant to New PE Holdco and, as a result, it was
determined that the Company was not New PE Holdco&#8217;s primary beneficiary. Upon the Company&#8217;s purchase of its 20% ownership
interest in New PE Holdco on October 6, 2010, the Company, through its ownership interest, had an obligation to absorb losses and
receive benefits that could potentially be significant to New PE Holdco. As a result, the Company then became the primary beneficiary
of New PE Holdco and began consolidating the financial results of New PE Holdco. The Company purchased its 20% ownership interest
in New PE Holdco from a number of New PE Holdco&#8217;s owners. The Company paid $23,280,000 in cash for its 20% interest, which
was approximately $1,566,000 below the fair value of New PE Holdco, which was recognized as a bargain purchase in other income
(expense), net, in the consolidated statements of operations for the year ended December 31, 2010. The bargain purchase was determined
based on the fair value of the net assets of New PE Holdco, using a combination of market data and the income approach. The Company
allocated fair value to both its investment and its noncontrolling interest in the VIE.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 146; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The following table summarizes
the Company&#8217;s estimated fair values of New PE Holdco&#8217;s tangible and intangible assets and liabilities acquired (in
thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 86%; text-indent: 0pt">Cash</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">3,786</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Other current assets</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">20,336</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Property and equipment</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">170,486</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Other assets</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,195</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Tradename</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">800</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 18pt; text-indent: 0pt">Total Assets</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">196,603</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Total current liabilities</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(8,522</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Long term debt</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(51,279</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Other noncurrent liabilities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(12,575</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 18pt; text-indent: 0pt">Total Liabilities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(72,376</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Noncontrolling interest in variable interest entity</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(99,381</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 18pt; text-indent: 0pt">Net Assets</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">24,846</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">On November 29, 2011, the
Company purchased an additional 7% ownership interest in New PE Holdco for $4,502,000 in cash. On December 19, 2011, the Company
purchased another 7% ownership interest in New PE Holdco for $4,615,000 in cash. Because the Company has a controlling financial
interest in New PE Holdco, it did not record any gain or loss on these purchases, but instead reduced the amount of noncontrolling
interest in VIEs on the consolidated balance sheets by an aggregate $15,585,000 and recorded the difference of $6,468,000, which
represents the fair value of these purchases above the price paid by the Company, to additional paid-in capital on the consolidated
balance sheets.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Since the Company&#8217;s
original purchase of its 20% interest in New PE Holdco, the Company has recognized approximately $512,497,000 and $72,827,000 in
net sales and $6,226,000 in net income and $5,727,000 in net losses attributed to New PE Holdco for the years ended December 31,
2011 and 2010, respectively. The Company owned the Plant Owners and consolidated their results for the first half of 2010, resulting
in the Company reporting the results of the Plant Owners for three of the four fiscal quarters in 2010. For the year ended December
31, 2010, the Company reported net sales of $328,332,000 and net income of $73,892,000 attributed to Pacific Ethanol. Had the Company
consolidated the results of New PE Holdco for all of 2010, the Company would have reported net sales of approximately $383,956,000
and net income of $70,330,000 attributed to Pacific Ethanol. Because the Plant Owners were consolidated with the Company&#8217;s
results for all of 2011, there are no differences with the Company&#8217;s reported results for that year.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company&#8217;s acquisition
of its ownership interest in New PE Holdco does not impact the Company&#8217;s rights or obligations under any of the agreements
described below. Further, creditors of New PE Holdco do not have recourse to the Company. Since its acquisition, the Company has
not provided any additional support to New PE Holdco beyond the terms of the agreements described below.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company, directly or
through one of its subsidiaries, has entered into the management and marketing agreements described below.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 147; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Asset Management Agreement</U></I>
&#8211; The Company entered into an Asset Management Agreement (&#8220;AMA&#8221;) with the Plant Owners under which the Company
agreed to operate and maintain the Pacific Ethanol Plants on behalf of the Plant Owners. These services generally include, but
are not limited to, administering the Plant Owners&#8217; compliance with their credit agreements and performing billing, collection,
record keeping and other administrative and ministerial tasks. The Company agreed to supply all labor and personnel required to
perform its services under the AMA, including the labor and personnel required to operate and maintain the production facilities.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The costs and expenses associated
with the Company&#8217;s provision of services under the AMA are prefunded by the Plant Owners under a preapproved budget. The
Company&#8217;s obligation to provide services is limited to the extent there are sufficient funds advanced by the Plant Owners
to cover the associated costs and expenses.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">As compensation for providing
the services under the AMA, the Company is paid $75,000 per month for each production facility that is operational and $40,000
per month for each production facility that is idled. In addition to the monthly fee, if during any six-month period (measured
on September 30 and March 31 of each year commencing March 31, 2011) a production facility has annualized earnings before interest,
income taxes, depreciation and amortization (&#8220;EBITDA&#8221;) per gallon of operating capacity of $0.20 or more, the Company
will be paid a performance bonus equal to 3% of the increment by which EBITDA exceeds such amount. The aggregate performance bonus
for all plants is capped at $2.2 million for each six-month period. The performance bonus is to be reduced by 25% if all production
facilities then operating do not operate at a minimum average yield of 2.70 gallons of denatured ethanol per bushel of corn. In
addition, no performance bonus is to be paid if there is a default or event of default under the Plant Owners&#8217; credit agreement
resulting from their failure to pay any amounts then due and owing. The AMA also provides the Company with an incentive fee upon
any sale of a production facility to the extent the sales price is above $0.60 per gallon of annual capacity. To date, no such
bonuses have been earned by the Company.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The AMA had an initial term
of six months and successive six-month renewal periods at the option of the Plant Owners. In addition to typical conditions for
a party to terminate the agreement prior to its expiration, the Company may terminate the AMA, and the Plant Owners may terminate
the AMA with respect to any facility, at any time by providing at least 60 days prior notice of such termination. On June 30, 2011,
the AMA was amended and extended for one year.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company recorded revenues
and New PE Holdco recorded costs of approximately $3,468,000 and $778,000, related to the AMA for the years ended December 31,
2011 and 2010, respectively, during which New PE Holdco&#8217;s financial results were consolidated with the Company&#8217;s financial
results. As such, these amounts have been eliminated upon consolidation.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Ethanol Marketing Agreements</U></I>
&#8211; The Company entered into separate ethanol marketing agreements with each of the three Plant Owners whose facilities are
operating, which granted it the exclusive right to purchase, market and sell the ethanol produced at those facilities. Under the
terms of the ethanol marketing agreements, within ten days after delivering ethanol to the Company, an amount is paid to the Company
equal to (i) the estimated purchase price payable by the third-party purchaser of the ethanol, minus (ii) the estimated amount
of transportation costs to be incurred, minus (iii) the estimated incentive fee payable to the Company, which equals 1% of the
aggregate third-party purchase price. Each of the ethanol marketing agreements had an initial term of one year and successive one
year renewal periods at the option of the individual Plant Owner. On June 30, 2011, all ethanol marketing agreements were amended
and extended for one year. In addition, the price to be paid was amended to include a marketing fee collar of not less than $0.015
per gallon and not more than $0.0225 per gallon.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company recorded revenues
and New PE Holdco recorded costs of approximately $3,708,000 and $623,000 related to the ethanol marketing agreements for the years
ended December 31, 2011 and 2010, respectively, for the period during which New PE Holdco was consolidated with the Company. These
amounts were eliminated upon consolidation.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 148; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS<BR>
</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Corn Procurement and
Handling Agreements</U></I> &#8211; The Company entered into separate corn procurement and handling agreements with each of the
three Plant Owners whose facilities are operating. Under the terms of the corn procurement and handling agreements, each facility
appointed the Company as its exclusive agent to solicit, negotiate, enter into and administer, on its behalf, corn supply arrangements
to procure the corn necessary to operate its facility. The Company also provides grain handling services including, but not limited
to, receiving, unloading and conveying corn into the facility&#8217;s storage and, in the case of whole corn delivered, processing
and hammering the whole corn.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company was to receive
a fee of $0.50 per ton of corn delivered to each facility as consideration for its procurement services and a fee of $1.50 per
ton of corn delivered as consideration for its grain handling services, each payable monthly. The Company agreed to enter into
an agreement guaranteeing the performance of its obligations under the corn procurement and handling agreement upon the request
of a Plant Owner. Each corn procurement and handling agreement had an initial term of one year and successive one year renewal
periods at the option of the individual Plant Owner. On June 30, 2011, all corn procurement and handling agreements were amended
and extended for one year. In addition, the corn procurement and handling fee was changed to $0.045 per bushel of corn.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company recorded revenues
and New PE Holdco recorded costs of approximately $2,758,000 and $571,000, related to the corn procurement and handling agreements
for the years ended December 31, 2011 and 2010, respectively, for the period during which New PE Holdco was consolidated with the
Company. These amounts were eliminated upon consolidation.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Distillers Grains Marketing
Agreements</U></I> &#8211; The Company entered into separate distillers grains marketing agreements with each of the three Plant
Owners whose facilities are operating, which grant the Company the exclusive right to market, purchase and sell the WDG produced
at each facility. Under the terms of the distillers grains marketing agreements, within ten days after a Plant Owner delivers WDG
to the Company, the Plant Owner is paid an amount equal to (i) the estimated purchase price payable by the third-party purchaser
of the WDG, minus (ii) the estimated amount of transportation costs to be incurred, minus (iii) the estimated amount of fees and
taxes payable to governmental authorities in connection with the tonnage of WDG produced or marketed, minus (iv) the estimated
incentive fee payable to the Company, which equals the greater of (a) 5% of the aggregate third-party purchase price, and (b) $2.00
for each ton of WDG sold in the transaction. Each distillers grains marketing agreement had an initial term of one year and successive
one year renewal periods at the option of the individual Plant Owner. On June 30, 2011, all distillers grains marketing agreements
were amended and extended for one year. In addition, the fee to be paid to the Company was amended to include a collar of not less
than $2.00 per ton and not more than $3.50 per ton.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company recorded revenues
and New PE Holdco recorded costs of approximately $4,797,000 and $700,000, related to the distillers grain marketing agreements
for the years ended December 31, 2011 and 2010, respectively, for the period which New PE Holdco was consolidated with the Company.
These amounts were eliminated upon consolidation.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 149; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Assets and Liabilities
of New PE Holdco</U></I> &#8211; The carrying values and classification of assets that are collateral for the obligations of New
PE Holdco at December 31, 2011 were as follows (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 86%; text-indent: 0pt">Cash and cash equivalents</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">2,070</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Other current assets</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">14,320</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Property and equipment</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">155,523</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Other assets</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">1,693</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 18pt; text-indent: 0pt">Total assets</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">173,606</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 86%; text-indent: 0pt">Current liabilities</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">3,064</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Long-term debt</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">73,256</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Other liabilities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">158</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 18pt; text-indent: 0pt">Total liabilities</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">76,478</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Deconsolidation and
Sale of Front Range</U></I> &#8211; The Company purchased a 42% ownership interest in Front Range on October 17, 2006. Upon initial
acquisition of the 42% interest in Front Range, the Company determined that it was Front Range&#8217;s primary beneficiary, and
from that point consolidated the financial results of Front Range. Effective January 1, 2010, the Company determined that it was
no longer the primary beneficiary of Front Range and deconsolidated the financial results of Front Range. In making this conclusion,
the Company determined that the Company did not have the power to direct the activities of Front Range that most significantly
impacted its economic performance. Some of these activities included efficient management and operation of its facility, ethanol
sales, procurement of feedstock, sale of co-products and implementation of risk management strategies. Upon deconsolidation, the
Company removed $62,617,000 of assets and $18,584,000 of liabilities from the consolidated balance sheets and recorded a cumulative
debit adjustment to retained earnings of $1,763,000.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Effective January 1, 2010,
the Company accounted for its investment in Front Range under the equity method, with equity earnings recorded in other income
(expense), net in the consolidated statements of operations.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Sale of Front Range</U></I>
&#8211; On October 6, 2010, the Company sold its entire 42% ownership interest in Front Range for $18,500,000 in cash, resulting
in a loss of $12,146,000.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">3.</TD>
    <TD STYLE="width: 1187px; text-align: left">PROPERTY AND EQUIPMENT.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Property and equipment consisted
of the following (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">December&#160;31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 72%; text-indent: 0pt">Facilities and plant equipment</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">168,036</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">166,229</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Land</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,570</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,570</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Other equipment, vehicles and furniture</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">4,918</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">4,635</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Construction in progress</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">3,328</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">2,355</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">178,852</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">175,789</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Accumulated depreciation</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(19,235</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(6,813</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">159,617</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">168,976</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="text-align: justify; text-indent: 0pt; margin: 0">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 150; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>&#160;</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Depreciation expense, including
idled facilities, was $11,724,000 and $8,536,000 for the years ended December 31, 2011 and 2010, respectively. One of the Pacific
Ethanol Plants was idled at December 31, 2011 and 2010. The carrying values of this facility totaled $29,924,000 and $32,000,000
at December 31, 2011 and 2010, respectively. The Company continues to depreciate these assets, resulting in depreciation expense
in the aggregate of $2,155,000 and $1,559,000 for the years ended December 31, 2011 and 2010, respectively.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">4.</TD>
    <TD STYLE="width: 1187px; text-align: left">INTANGIBLE ASSETS.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Intangible assets consisted
of the following (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2px; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 2px; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">Useful</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">December&#160;31,
    2011</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">December&#160;31,
    2010</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">Life</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">Accumulated</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">Net Book</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">Accumulated</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">Net
    Book</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">(Years)</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">Gross</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">Amortization</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">Value</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">Gross</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: black 2px solid; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">Amortization</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center"><FONT STYLE="font-weight: normal; font-style: normal">Value</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Non-Amortizing:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left; font-weight: bold">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Kinergy tradename</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">2,678</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">2,678</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">2,678</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">2,678</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt; font-weight: bold">Amortizing:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="width: 18%; text-align: left; text-indent: 0pt">Customer relationships</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: center">10</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">4,741</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">(3,211</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">)</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">1,530</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">4,741</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">(2,737</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">)</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right">2,004</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Pacific Ethanol tradename</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 2px">2</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">800</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(550</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">250</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">800</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(100</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">700</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 27pt; text-indent: -18pt">Total intangible assets, net</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 4px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">8,219</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(3,761</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">4,458</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">8,219</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(2,837</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">5,382</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Kinergy Tradename</U></I>
&#8211; The Company recorded a tradename valued at $2,678,000 in 2006 as part of its acquisition of Kinergy. The Company determined
that the Kinergy tradename has an indefinite life and therefore, rather than being amortized, will be tested annually for impairment.
The Company did not record any impairment on the Kinergy tradename for the years ended December 31, 2011 and 2010.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Customer Relationships</U>
&#8211;</I> The Company recorded customer relationships valued at $4,741,000 as part of its acquisition of Kinergy. The Company
has established a useful life of ten years for these customer relationships.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Pacific Ethanol Tradename</U>
&#8211;</I> The Company recorded a tradename valued at $800,000 as part of its acquisition of its ownership interest in New PE
Holdco, which relates to its marketing and management agreements with Pacific Ethanol, Inc. The Company has established a useful
life of two years for this intangible asset.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Amortization expense associated
with intangible assets totaled $924,000 and $574,000 for the years ended December&#160;31, 2011 and 2010, respectively. The weighted-average
unamortized life of the intangible assets is 2.9 years.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The expected amortization
expense relating to amortizable intangible assets in each of the remaining four years after December 31, 2011 are (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Years Ended</P>
        <P STYLE="margin: 0">December 31,</P></TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Amount</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%; text-align: center; text-indent: 0pt">2012</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">724</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; text-indent: 0pt">2013</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">474</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; text-indent: 0pt">2014</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">474</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; text-align: center; text-indent: 0pt">2015</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">108</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 4px; padding-left: 27pt; text-align: center; text-indent: 0pt">Total</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">1,780</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 151; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>&#160;</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">5.</TD>
    <TD STYLE="width: 1187px; text-align: left">DERIVATIVES.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The business and activities
of the Company expose it to a variety of market risks, including risks related to changes in commodity prices and interest rates.
The Company monitors and manages these financial exposures as an integral part of its risk management program. This program recognizes
the unpredictability of financial markets and seeks to reduce the potentially adverse effects that market volatility could have
on operating results.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Commodity Risk</U></I><U>
&#8211; <I>Cash Flow Hedges</I></U> &#8211; The Company uses derivative instruments to protect cash flows from fluctuations caused
by volatility in commodity prices for periods of up to twelve months in order to protect gross profit margins from potentially
adverse effects of market and price volatility on ethanol sale and purchase commitments where the prices are set at a future date
and/or if the contracts specify a floating or index-based price for ethanol. In addition, the Company hedges anticipated sales
of ethanol to minimize its exposure to the potentially adverse effects of price volatility. These derivatives may be designated
and documented as cash flow hedges and effectiveness is evaluated by assessing the probability of the anticipated transactions
and regressing commodity futures prices against the Company&#8217;s purchase and sales prices. Ineffectiveness, which is defined
as the degree to which the derivative does not offset the underlying exposure, is recognized immediately in cost of goods sold.
For the years ended December 31, 2011 and 2010, the Company did not designate any of its derivatives as cash flow hedges.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Commodity Risk &#8211;
Non-Designated Hedges</U></I> &#8211; The Company uses derivative instruments to lock in prices for certain amounts of corn and
ethanol by entering into forward contracts for those commodities. These derivatives are not designated for special hedge accounting
treatment. The changes in fair value of these contracts are recorded on the balance sheet and recognized immediately in cost of
goods sold. The Company recognized a gain of $96,000 and a loss of $178,000 as the change in the fair value of these contracts
for the years ended December 31, 2011 and 2010, respectively. The notional balances remaining on these contracts as of December
31, 2011 and 2010 were $9,186,000 and $237,000, respectively.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Interest Rate Risk</U></I>
&#8211; The Company has historically used derivative instruments to minimize significant unanticipated income fluctuations that
may arise from rising variable interest rate costs associated with existing and anticipated borrowings. The Company purchased interest
rate caps and swaps to meet these objectives. During the year ended December 31, 2010, through both divesture of its investment
and resulting deconsolidation of Front Range, and the emergence of the Plant Owners from bankruptcy, all interest rate caps and
swaps were removed from the Company&#8217;s consolidated statement of position as of December 31, 2010.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">These derivatives were, at
times, designated and documented as cash flow hedges, with effectiveness evaluated by assessing the probability of anticipated
interest expense and regressing the historical value of the rates against the historical value in the existing and anticipated
debt. The Company recognized gains from undesignated hedges of $0 and $1,227,000 in interest expense, net, for the years ended
December 31, 2011 and 2010, respectively. These gains resulted primarily from the Company&#8217;s efforts to restructure its indebtedness
prior to the Plant Owners&#8217; Chapter 11 Filings, therefore making it not probable that the related borrowings would be paid
as designated. As such, the Company de-designated certain of its interest rate caps and swaps.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 152; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Non Designated Derivative
Instruments</U></I> &#8211; The classification and amounts of the Company&#8217;s derivatives not designated as hedging instruments
are as follows (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: black 2px solid; text-indent: 0pt">As of December 31, 2011</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center; border-bottom: black 2px solid; text-indent: 0pt">Assets</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">Liabilities</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; border-bottom: black 2px solid">
        <P STYLE="margin: 0">&#160;</P>
        <P STYLE="margin: 0">Type of Instrument</P></TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: black 2px solid">Balance Sheet Location</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: black 2px solid; text-indent: 0pt">Fair Value</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: center">Balance Sheet Location</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: black 2px solid; text-indent: 0pt">Fair Value</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 23%; padding-bottom: 2px; text-indent: 0pt">Commodity contracts</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 23%; padding-bottom: 2px; text-indent: 0pt">Other current assets</TD>
    <TD STYLE="text-align: right; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">244</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 23%; padding-bottom: 2px; text-indent: 0pt">Accrued liabilities</TD>
    <TD STYLE="text-align: right; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">500</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">244</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">500</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">As of December 31, 2010</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">Assets</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">Liabilities</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; border-bottom: black 2px solid">
        <P STYLE="margin: 0">&#160;</P>
        <P STYLE="margin: 0">Type of Instrument</P></TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: center">Balance Sheet Location</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">Fair Value</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: black 2px solid">Balance Sheet Location</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">Fair&#160;Value</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 23%; padding-bottom: 2px; text-indent: 0pt">Commodity contracts</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 23%; padding-bottom: 2px; text-indent: 0pt">Other current assets</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD STYLE="width: 1%; text-align: right; padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 23%; padding-bottom: 2px; text-indent: 0pt">Accrued liabilities</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">15</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD STYLE="text-align: right; padding-bottom: 4px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">15</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The classification and amounts
of the Company&#8217;s recognized gains (losses) for its derivatives not designated as hedging instruments are as follow (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">Realized Gain (Loss)</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">For the Years Ended December 31,</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt">Type of Instrument</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt">Statements of Operations Location</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">2011</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">2010</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 32%; padding-bottom: 2px; text-indent: 0pt">Commodity contracts</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 32%; padding-bottom: 2px; text-indent: 0pt">Cost of goods sold</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">338</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">(163</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">338</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(163</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">Unrealized Gain (Loss)</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">For the Years Ended December 31,</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt">Type of Instrument</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: black 2px solid; text-indent: 0pt">Statements of Operations Location</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">2011</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center; text-indent: 0pt">2010</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 32%; text-indent: 0pt">Commodity contracts</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 32%; text-indent: 0pt">Cost of goods sold</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">(242</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">)</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">(15</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Interest rate contracts</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Interest expense, net</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">1,227</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(242</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">1,212</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 153; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">6.</TD>
    <TD STYLE="width: 1187px; text-align: left">DEBT.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Long-term debt is summarized
in the following table (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 72%; text-indent: 0pt">Kinergy operating line of credit</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">20,432</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">13,474</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Notes payable to related parties</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">750</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,250</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">New PE Holdco term debt</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">51,279</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">51,279</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">New PE Holdco operating line of credit</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">21,978</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">18,978</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Convertible notes, at fair value</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">38,108</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">94,439</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">123,089</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Less current portion</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(750</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(38,108</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 0pt">Long-term debt</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">93,689</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">84,981</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Kinergy Line of Credit</U></I>
&#8211; Kinergy has a working capital line of credit in an aggregate amount of up to $30,000,000, with an optional accordion feature
of an additional $5,000,000. The credit facility is based on Kinergy&#8217;s eligible accounts receivable and inventory levels,
subject to certain concentration reserves. The credit facility is subject to certain other sublimits, including as to inventory
loan limits. Interest accrues under the line of credit at a rate equal to (i)&#160;the three-month London Interbank Offered Rate
(&#8220;LIBOR&#8221;), plus (ii) a specified applicable margin ranging between 3.50% and 4.50%. The applicable margin was 3.50%
at December 31, 2011. The credit facility&#8217;s monthly unused line fee is 0.50% of the amount by which the maximum credit under
the facility exceeds the average daily principal balance. Kinergy is also required to pay customary fees and expenses associated
with the credit facility and issuances of letters of credit. In addition, Kinergy is responsible for a $3,000 monthly servicing
fee. Payments that may be made by Kinergy to the Company as reimbursement for management and other services provided by the Company
to Kinergy are limited to $800,000 per fiscal quarter in 2012 and $850,000 per fiscal quarter in 2013. Kinergy is required to meet
specified EBITDA and fixed coverage ratio financial covenants under the credit facility, as amended, and is prohibited from incurring
any additional indebtedness (other than specific intercompany indebtedness) or making any capital expenditures in excess of $100,000
absent the lender&#8217;s prior consent. The Company believes it is in compliance with these covenants. Kinergy&#8217;s obligations
under the credit facility are secured by a first-priority security interest in all of its assets in favor of the lender. The line
of credit matures on December 31, 2013. The Company has guaranteed all of Kinergy&#8217;s obligations under the line of credit.
As of December 31, 2011, Kinergy had an available borrowing base under the credit facility of $26,564,000 and an outstanding balance
of $20,432,000.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Notes Payable to Related
Parties</U></I> &#8211; On March 31, 2009, the Company&#8217;s Chairman of the Board and its Chief Executive Officer provided funds
in an aggregate amount of $2,000,000 for general working capital purposes, in exchange for two unsecured promissory notes issued
by the Company. Interest on the unpaid principal amounts accrues at a rate of 8.00% per annum. All principal and accrued and unpaid
interest on the promissory notes was initially due and payable in March 2010. On October 29, 2010, the Company paid all accrued
interest and $750,000 in principal under these notes. On November 30, 2011, the Company paid $500,000 in principal under these
notes. The Company recorded interest under these notes of approximately $97,000 and $149,000 for the years ended December 31, 2011
and 2010, respectively. As of December 31, 2011, the remaining amount of $750,000 was due and payable on the extended maturity
date of March 31, 2012. On March 7, 2012, the maturity date was further extended to March 31, 2013.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 154; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>New PE Holdco Term
Debt and Operating Line of Credit</U></I> &#8211; On the Effective Date, approximately<I><U>&#160;</U></I>$294,478,000 in prepetition
and post petition secured indebtedness of the Plant Owners was restructured under a Credit Agreement entered into on June&#160;25,
2010 among the Plant Owners, as borrowers, and various lenders. Under the Plan, the Plant Owners&#8217; existing prepetition and
post petition secured indebtedness of approximately $294,478,000 was restructured to consist of approximately $50,000,000, plus
accrued interest of $1,279,000, in three-year term loans and a new three-year revolving credit facility of up to $35,000,000 to
fund working capital requirements of New PE Holdco. The term loan and revolving credit facility require monthly interest payments
at a floating rate equal to the three-month LIBOR or the Prime Rate of interest, as elected by the borrower, plus 10.0%. At December
31, 2011, the rate was approximately 13.25%. Repayments of principal are based on available free cash flow of the borrower, until
maturity, when all principal amounts are due. The term loan and revolving credit facility represent permanent financing and are
collateralized by a perfected, first-priority security interest in all of the assets, including inventories and all rights, title
and interest in all tangible and intangible assets, of New PE Holdco. The creditors of New PE Holdco do not have recourse to the
Company. As of December 31, 2011, New PE Holdco had an outstanding letter of credit of approximately $844,000, unused availability
under the credit facility of $12,178,000 and an outstanding balance of $21,978,000.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Convertible Notes</U></I>
&#8211; On October 6, 2010, the Company raised $35,000,000 through the issuance and sale of $35,000,000 in principal amount of
secured convertible notes (&#8220;Initial Notes&#8221;) and warrants (&#8220;Initial 2010 Warrants&#8221;) to purchase an aggregate
of 2,941,178 shares of the Company&#8217;s common stock. On January 7, 2011, the Company issued $35,000,000 in principal amount
of secured convertible notes (&#8220;January Convertible Notes&#8221;) in exchange for the Initial Notes and warrants (&#8220;2010
Warrants&#8221;) to purchase an aggregate of 2,941,178 shares of the Company&#8217;s common stock in exchange for the Initial 2010
Warrants. The transactions contemplated by the exchange agreements were entered into to, among other things, clarify previously
ambiguous language in the Initial Notes and Initial 2010 Warrants, provide the Company with additional time to meet its registration
obligations and to add additional flexibility to the Company&#8217;s ability to incur indebtedness subordinated to the January
Convertible Notes. As discussed below, the January Convertible Notes were valued at fair value, and as such, these modifications
were reflected in the fair value adjustments for the period.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">On June 30, 2011, the Company
issued $23,750,000 in principal amount of secured convertible notes, reflecting the amount then outstanding under the January Convertible
Notes (&#8220;June Convertible Notes&#8221;) in exchange for the January Convertible Notes. The transactions contemplated by the
exchange agreements were entered into to, among other things, defer an upcoming installment payment, add one additional month to
the maturity date and add a new additional conversion price option as described further below. As discussed further below, the
June Convertible Notes are valued at fair value, and as such, these modifications are reflected in the fair value adjustments for
the year ended December 31, 2011.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">On August 3, 2011, under
the terms of exchange agreements with the holders of the June Convertible Notes, the Company issued approximately $17,170,000 in
principal amount, reflecting the amount then outstanding under the June Convertible Notes, of secured convertible notes (&#8220;Convertible
Notes&#8221;) in exchange for the June Convertible Notes. The transactions contemplated by the exchange agreements were entered
into to, among other things, add three additional months to the maturity date, add a new additional conversion price option as
described further below and reduce the price failure threshold from $1.40 to $0.60. As discussed below, the Convertible Notes are
valued at fair value, and as such, these modifications are reflected in the fair value adjustments for the year ended December
31, 2011.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 155; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0">The Company was obligated to make amortization payments with respect to the principal amount of each of the
convertible notes, beginning on March 7, 2011 and then on the first trading day of each calendar month thereafter, except for the
month of August, through the extended maturity date of May 2012 (collectively, the &#8220;Installment Dates&#8221;).</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">On each Installment Date,
the Company was to pay an amount of principal, as then determined under the convertible notes and any accrued and unpaid interest
(the &#8220;Installment Amount&#8221;). The Company could elect to pay the Installment Amount in cash or shares of its common stock,
subject to the satisfaction of certain conditions.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">If the Company elected to
make all or part of an amortization payment in shares of its common stock, it was required to deliver to the holders of the convertible
notes the amount of shares of the Company&#8217;s common stock equal to the portion of the amount being paid in shares of the Company&#8217;s
common stock divided by the lesser of the then existing conversion price and 85% of the average of the volume weighted average
prices of the 5 lowest trading days during the 20 consecutive trading day period ending on the trading day immediately prior to
the applicable Installment Date.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">All amounts due under the
convertible notes were also convertible at any time, in whole or in part, at the option of the holders into shares of the Company&#8217;s
common stock at a specified conversion price.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company elected to account
for the convertible notes using the fair value alternative in order to simplify its accounting and reporting of the convertible
notes. Accordingly, the Company adjusted as of each quarter the carrying value of the convertible notes to their fair value since
their initial issuance in October 2010, with such adjustments reflected in fair value adjustments on convertible debt and warrants
in the statements of operations.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company recorded income
of $7,559,000 and expense of $11,736,000 for fair value adjustments for the years ended December 31, 2011 and 2010, respectively,
for changes in fair value, which adjustments are attributed to a reduction in the principal balances and fluctuations in the market
value of the Company&#8217;s common stock during each quarterly period. There were no changes in fair value of the convertible
notes due to a change in the estimated credit risk of the instruments. See Note 13 for the Company&#8217;s fair value assumptions.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The following table summarizes
the Installment Amounts and additional conversions by the note holders through their retirement on November 14, 2011 (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Principal</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Interest</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Total</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Common Shares</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 44%; text-indent: 0pt">Installment Amount &#8211; Q1 2011</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">3,500</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">1,263</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">4,763</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">1,148</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Installment Amount &#8211; 5/2/2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,500</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">383</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,883</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,396</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Installment Amount &#8211; 6/1/2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,350</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">176</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,526</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,563</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Holder Conversions &#8211; Q2 2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">900</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">49</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">949</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">428</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Installment Amount &#8211; 7/1/2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,450</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">159</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,609</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,313</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Installment Amount &#8211; 9/1/2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">283</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">144</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">427</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">*</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Holder Conversions &#8211; Q3 2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">10,688</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">649</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">11,337</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">27,144</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Installment Amount &#8211; 10/3/2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">929</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">64</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">993</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">*</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Installment Amount &#8211; 11/1/2011</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">--</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">*</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Holder Conversions &#8211; Q4 2011</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">8,400</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">397</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">8,797</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">28,867</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">35,000</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">3,289</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">38,289</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">63,859</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 4pt"><DIV STYLE="font-size: 1pt; border-top: black 1px solid; width: 10%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">* Cash payments</P>

<P STYLE="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 156; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Registration Rights
Agreement</U>&#160;</I>&#8211; In connection with the sale of the Initial Notes (and Convertible Notes) and the Initial 2010 Warrants,
the Company entered into a registration rights agreement with all of the investors to file a registration statement on Form S-1
with the Securities and Exchange Commission. In compliance with the Company's obligations under the registration rights agreement,
as amended by the aforementioned exchange agreements, the Company filed a registration statement on Form S-1 to register for resale
by the investors 3,968,423 shares of common stock underlying the Convertible Notes.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Interest Expense on
Borrowings</U></I> &#8211; Interest expense on all borrowings discussed above was $14,813,000 and $6,261,000 for the years ended
December 31, 2011 and 2010, respectively.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Long-term debt due in each
of the next two years is as follows (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Years Ended December 31,</P></TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Amount</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%; text-align: center; text-indent: 0pt">2012</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">750</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 2px; text-indent: 0pt">2013</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">93,689</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 4px; text-indent: 0pt; padding-left: 36pt">Total</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">94,439</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">7.</TD>
    <TD STYLE="width: 1187px; text-align: left">ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Gain on Bankruptcy
Exit</U></I> &#8211; On the Effective Date, the Company ceased to own the Plant Owners as they emerged from bankruptcy. As a result,
the Company removed the related assets of $175,070,000 and liabilities of $294,478,000 from its consolidated financial statements,
resulting in a net gain on bankruptcy exit of $119,408,000.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Reorganization Costs</U></I>
&#8211; In accordance with the Financial Accounting Standards Board&#8217;s Accounting Standards Codification 852, <I>Reorganizations</I>,
revenues, expenses, realized gains and losses, and provisions for losses that can be directly associated with the reorganization
and restructuring of the business must be reported separately as reorganization items in the statements of operations. During the
year ended December 31, 2010, the Plant Owners recorded professional fees and other organizational costs directly related to the
reorganization of $4,153,000.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">8.</TD>
    <TD STYLE="width: 1187px; text-align: left">INCOME TAXES.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The asset and liability method
is used to account for income taxes. Under this method, deferred tax assets and liabilities are recognized for tax credits and
for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets
and liabilities and their tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply
to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance
is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that those assets will be realized.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company files a consolidated
federal income tax return. This return includes all corporate companies 80% or more owned by the Company as well as the Company&#8217;s
pro-rata share of taxable income from pass-through entities in which the Company holds an ownership interest. State tax returns
are filed on a consolidated, combined or separate basis depending on the applicable laws relating to the Company and its subsidiaries.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company recorded no provision
for income taxes for the years ended December 31, 2011 and 2010.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 157; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">A reconciliation of the differences
between the United States statutory federal income tax rate and the effective tax rate as provided in the consolidated statements
of operations is as follows:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Years Ended December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 72%; text-indent: 0pt">Statutory rate</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">(35.0%</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">)</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">(35.0%</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">State income taxes, net of federal benefit</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(3.9</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(4.9</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Section 382 reduction to NOL carryover</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,827.9</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Change in valuation allowance</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,849.0</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">41.5</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Stock compensation</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">16.8</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(1.8</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Other</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">1.0</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">0.2</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 18pt">Effective rate</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">0.0%</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">0.0%</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Deferred income taxes are
provided using the asset and liability method to reflect temporary differences between the financial statement carrying amounts
and tax bases of assets and liabilities using presently enacted tax rates and laws. The components of deferred income taxes included
in the consolidated balance sheets were as follows (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Deferred tax assets:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="width: 72%; text-align: left; text-indent: 0pt; padding-left: 9pt">Net operating loss carryforward</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">30,681</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">144,814</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 9pt">Capital loss carryover</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">8,013</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">7,180</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 9pt">Stock-based compensation</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">417</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">3,446</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Derivative instruments mark-to-market</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">201</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 9pt">Convertible notes and warrants</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">4,520</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 9pt">Other accrued liabilities</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">123</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">231</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 9pt">Fixed assets</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">157</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt; padding-left: 9pt">Other</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">167</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">279</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Total deferred tax assets</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">39,759</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">160,470</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Deferred tax liabilities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Investment in New PE Holdco</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,792</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(756</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Intangibles</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,706</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,901</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Fixed assets</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(191</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Total deferred tax liabilities</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(5,498</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,848</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Valuation allowance</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(35,352</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(158,713</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 0pt">Net deferred tax liabilities</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(1,091</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(1,091</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Classified in balance sheet as:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Deferred income tax benefit (current assets)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Deferred income taxes (long-term liability)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,091</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,091</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(1,091</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(1,091</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 158; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">A portion of the Company&#8217;s
net operating loss carryforwards will be subject to provisions of the tax law that limit the use of losses incurred by a company
prior to the date certain ownership changes occur. In April 2011, the Company experienced a change in ownership that initiated
a new limitation on the Company&#8217;s ability to use its net operating losses. The amount of the Company&#8217;s net operating
loss carryforwards that would be subject to these limitations was approximately $370,096,000 at December 31, 2011.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Due to the new limitation,
a significant portion of these net operating loss carryforwards will expire regardless of whether the Company generates future
taxable income. After reducing these net operating loss carryforwards for the amount which will expire, the Company had federal
net operating loss carryforwards of approximately $79,605,000 and $366,948,000, and state net operating loss carryforwards of approximately
$74,977,000 and $369,349,000, at December 31, 2011 and 2010, respectively.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">These net operating loss
carryforwards expire at various dates beginning in 2012. The deferred tax asset for the Company&#8217;s net operating loss carryforwards
at December&#160;31, 2011 does not include $1,076,000 which relates to the tax benefits associated with warrants and non-statutory
options exercised by employees, members of the board and others under the various incentive plans. These tax benefits will be recognized
in stockholders&#8217; equity rather than in the statements of operations but not until the period in which these amounts decrease
taxes payable.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">In assessing whether the
deferred tax assets are realizable, a more likely than not standard is applied. If it is determined that it is more likely than
not that deferred tax assets will not be realized, a valuation allowance must be established against the deferred tax assets. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which
the associated temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities,
projected future taxable income and tax planning strategies in making this assessment.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">A valuation allowance has
been established in the amount of $35,352,000 and $158,713,000 at December 31, 2011 and 2010, respectively, based on the Company&#8217;s
assessment of the future realizability of certain deferred tax assets. For the years ended December 31, 2011 and 2010, the Company
recorded a decrease in the valuation allowance of $123,361,000 and $30,669,000, respectively. The valuation allowance on deferred
tax assets is related to future deductible temporary differences and net operating loss carryforwards (exclusive of net operating
losses associated with items recorded directly to equity) for which the Company has concluded it is more likely than not that these
items will not be realized in the ordinary course of operations.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">At December 31, 2011, the
Company had no increase or decrease in unrecognized income tax benefits for the year as a result of uncertain tax positions taken
in a prior or current period. There was no accrued interest or penalties relating to tax uncertainties at December 31, 2011. Unrecognized
tax benefits are not expected to increase or decrease within the next twelve months.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 159; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company is subject to
income tax in the United States federal jurisdiction and various state jurisdictions and has identified its federal tax return
and tax returns in state jurisdictions below as &#8220;major&#8221; tax filings. These jurisdictions, along with the years still
open to audit under the applicable statutes of limitation, are as follows:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="text-align: center; vertical-align: top">
    <TD STYLE="width: 20%; text-decoration: underline; text-align: justify; text-indent: 0pt">Jurisdiction</TD>
    <TD STYLE="width: 20%; text-decoration: underline; text-align: justify; text-indent: 0pt">Tax Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0pt">Federal</TD>
    <TD STYLE="text-align: justify; text-indent: 0pt">2008 &#8211; 2010</TD></TR>
<TR STYLE="background-color: white; vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0pt">California</TD>
    <TD STYLE="text-align: justify; text-indent: 0pt">2007 &#8211; 2010</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0pt">Colorado</TD>
    <TD STYLE="text-align: justify; text-indent: 0pt">2007 &#8211; 2010</TD></TR>
<TR STYLE="background-color: white; vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0pt">Idaho</TD>
    <TD STYLE="text-align: justify; text-indent: 0pt">2008 &#8211; 2010</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0pt">Nebraska</TD>
    <TD STYLE="text-align: justify; text-indent: 0pt">2008</TD></TR>
<TR STYLE="background-color: white; vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0pt">Oregon</TD>
    <TD STYLE="text-align: justify; text-indent: 0pt">2008 &#8211; 2010</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: top">
    <TD STYLE="text-align: justify; text-indent: 0pt">Wisconsin</TD>
    <TD STYLE="text-align: justify; text-indent: 0pt">2007 &#8211; 2008</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">However, because the Company
had net operating losses and credits carried forward in several of the jurisdictions, including the United States federal and California
jurisdictions, certain items attributable to closed tax years are still subject to adjustment by applicable taxing authorities
through an adjustment to tax attributes carried forward to open years.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">9.</TD>
    <TD STYLE="width: 1187px; text-align: left">PREFERRED STOCK.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company has 6,734,835
undesignated shares of authorized and unissued preferred stock, which may be designated and issued in the future on the authority
of the Company&#8217;s Board of Directors. As of December 31, 2011, the Company had the following designated preferred stock:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Series A Preferred
Stock</U></I> &#8211; The Company has authorized 1,684,375 shares of Series A Cumulative Redeemable Convertible Preferred Stock
(&#8220;Series A Preferred Stock&#8221;), with none outstanding at December 31, 2011 and 2010. Shares of Series A Preferred Stock
that are converted into shares of the Company&#8217;s common stock revert to undesignated shares of authorized and unissued preferred
stock.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Upon any issuance, the Series
A Preferred Stock would rank senior in liquidation and dividend preferences to the Company&#8217;s common stock. Holders of Series
A Preferred Stock would be entitled to quarterly cumulative dividends payable in arrears in cash in an amount equal to 5% per annum
of the purchase price per share of the Series A Preferred Stock. The holders of the Series A Preferred Stock would have conversion
rights initially equivalent to two shares of common stock for each share of Series A Preferred Stock, subject to customary antidilution
adjustments. Certain specified issuances will not result in antidilution adjustments. The shares of Series A Preferred Stock would
also be subject to forced conversion upon the occurrence of a transaction that would result in an internal rate of return to the
holders of the Series A Preferred Stock of 25% or more. Accrued but unpaid dividends on the Series A Preferred Stock are to be
paid in cash upon any conversion of the Series A Preferred Stock.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The holders of Series A Preferred
Stock would have a liquidation preference over the holders of the Company&#8217;s common stock equivalent to the purchase price
per share of the Series A Preferred Stock plus any accrued and unpaid dividends on the Series A Preferred Stock. A liquidation
would be deemed to occur upon the happening of customary events, including transfer of all or substantially all of the Company&#8217;s
capital stock or assets or a merger, consolidation, share exchange, reorganization or other transaction or series of related transaction,
unless holders of 66 2/3% of the Series A Preferred Stock vote affirmatively in favor of or otherwise consent to such transaction.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 160; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Series B Preferred
Stock</U></I> &#8211; The Company has authorized 1,580,790 shares of Series B Preferred Stock, with 926,942 and 1,455,924 outstanding
at December 31, 2011 and 2010, respectively. Shares of Series B Preferred Stock that are converted into shares of the Company&#8217;s
common stock revert to undesignated shares of authorized and unissued preferred stock.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Series B Preferred Stock
ranks senior in liquidation and dividend preferences to the Company&#8217;s common stock. Holders of Series B Preferred Stock are
entitled to quarterly cumulative dividends payable in arrears in cash in an amount equal to 7.00% per annum of the purchase price
per share of the Series B Preferred Stock; however, subject to the provisions of the Letter Agreement described below, such dividends
may, at the option of the Company, be paid in additional shares of Series B Preferred Stock based initially on the liquidation
value of the Series B Preferred Stock. The holders of Series B Preferred Stock have a liquidation preference over the holders of
the Company&#8217;s common stock initially equivalent to $19.50 per share of the Series B Preferred Stock plus any accrued and
unpaid dividends on the Series B Preferred Stock. A liquidation will be deemed to occur upon the happening of customary events,
including the transfer of all or substantially all of the capital stock or assets of the Company or a merger, consolidation, share
exchange, reorganization or other transaction or series of related transaction, unless holders of 66 2/3% of the Series B Preferred
Stock vote affirmatively in favor of or otherwise consent that such transaction shall not be treated as a liquidation. The Company
believes that such liquidation events are within its control and therefore has classified the Series B Preferred Stock in stockholders&#8217;
equity<I>.</I></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The holders of the Series
B Preferred Stock have conversion rights initially equivalent to 0.43 shares of common stock for each share of Series B Preferred
Stock. The conversion ratio is subject to customary antidilution adjustments. In addition, antidilution adjustments are to occur
in the event that the Company issues equity securities, including derivative securities convertible into equity securities (on
an as-converted or as-exercised basis), at a price less than the conversion price then in effect. The shares of Series B Preferred
Stock are also subject to forced conversion upon the occurrence of a transaction that would result in an internal rate of return
to the holders of the Series B Preferred Stock of 25% or more. The forced conversion is to be based upon the conversion ratio as
last adjusted. Accrued but unpaid dividends on the Series B Preferred Stock are to be paid in cash upon any conversion of the Series
B Preferred Stock.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The holders of Series B Preferred
Stock vote together as a single class with the holders of the Company&#8217;s common stock on all actions to be taken by the Company&#8217;s
stockholders. Each share of Series B Preferred Stock entitles the holder to three votes on all matters to be voted on by the stockholders
of the Company. Notwithstanding the foregoing, the holders of Series B Preferred Stock are afforded numerous customary protective
provisions with respect to certain actions that may only be approved by holders of a majority of the shares of Series B Preferred
Stock.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">In 2008, the Company entered
into Letter Agreements with Lyles United LLC (&#8220;Lyles United&#8221;) and other purchasers under which the Company expressly
waived its rights under the Certificate of Designations relating to the Series B Preferred Stock to make dividend payments in additional
shares of Series B Preferred Stock in lieu of cash dividend payments without the prior written consent of Lyles United and the
other purchasers.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 161; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Registration Rights
Agreement</U>&#160;</I>&#8211; In connection with the sale of its Series B Preferred Stock, the Company entered into a registration
rights agreement with Lyles United. The registration rights agreement is to be effective until the holders of the Series B Preferred
Stock, and their affiliates, as a group, own less than 10% for each of the series issued, including common stock into which such
Series B Preferred Stock has been converted. The registration rights agreement provides that holders of a majority of the Series
B Preferred Stock, including common stock into which such Series B Preferred Stock has been converted, may demand and cause the
Company to register on their behalf the shares of common stock issued, issuable or that may be issuable upon conversion of the
Preferred Stock and as payment of dividends thereon, and upon exercise of the related warrants (collectively, the &#8220;Registrable
Securities&#8221;). The Company is required to keep such registration statement effective until such time as all of the Registrable
Securities are sold or until such holders may avail themselves of Rule 144 for sales of Registrable Securities without registration
under the Securities Act of 1933, as amended. The holders are entitled to two demand registrations on Form S-1 and unlimited demand
registrations on Form S-3; provided, however, that the Company is not obligated to effect more than one demand registration on
Form S-3 in any calendar year. In addition to the demand registration rights afforded the holders under the registration rights
agreement, the holders are entitled to unlimited &#8220;piggyback&#8221; registration rights. These rights entitle the holders
who so elect to be included in registration statements to be filed by the Company with respect to other registrations of equity
securities. The Company is responsible for all costs of registration, plus reasonable fees of one legal counsel for the holders,
which fees are not to exceed $25,000 per registration. The registration rights agreement includes customary representations and
warranties on the part of both the Company and the holders and other customary terms and conditions.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company recorded preferred
stock dividends of $1,265,000 and $2,847,000 for the years ended December 31, 2011 and 2010, respectively. As of December 31, 2011,
the Company had accrued and unpaid dividends of $7,315,000.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">10.</TD>
    <TD STYLE="width: 1187px; text-align: left">COMMON STOCK AND WARRANTS.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Private Placement</U>&#160;</I>&#8211;
On December 13, 2011, the Company raised $7,364,000, net of $642,000 of issuance costs, through the issuance of 7,625,000 shares
of common stock and warrants to purchase an aggregate of 4,956,250 shares of common stock (&#8220;2011 Warrants&#8221;). The 2011
Warrants are immediately exercisable and entitle the holders of the 2011 Warrants to purchase up to an aggregate of 4,956,250 shares
of the Company&#8217;s common stock until December 13, 2016 at an exercise price of $1.50 per share (&#8220;2011 Warrant Exercise
Price&#8221;), which price is subject to adjustment. The 2011 Warrants include both cash and cashless exercise provisions.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The 2011 Warrant Exercise
Price is subject to adjustment for stock splits, combinations or similar events, and, in such event, the number of shares issuable
upon the exercise of the 2011 Warrants will also be adjusted so that the aggregate 2011 Warrant Exercise Price shall be the same
immediately before and immediately after the adjustment. In addition, the 2011 Warrant Exercise Price is also subject to a &#8220;weighted-average&#8221;
anti-dilution adjustment if the Company issues or is deemed to have issued securities at a price lower than the then applicable
2011 Warrant Exercise Price.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The 2011 Warrants require
payments to be made by the Company for failure to deliver the shares of common stock issuable upon exercise.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 162; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The 2011 Warrants may not
be converted if, after giving effect to the conversion, the investor together with its affiliates would beneficially own in excess
of 4.99% of the Company&#8217;s outstanding shares of common stock. The blocker applicable to the exercise of the 2011 Warrants
may be raised or lowered to any other percentage not in excess of 9.99%, except that any increase will only be effective upon 61-days&#8217;
prior notice to the Company.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">If the Company issues options,
convertible securities, warrants, stock, or similar securities to holders of its common stock, each holder of a 2011 Warrant has
the right to acquire the same as if the holder had exercised its 2011 Warrant. The 2011 Warrants prohibit the Company from entering
into specified transactions involving a change of control, unless the successor entity assumes all of the Company&#8217;s obligations
under the 2011 Warrants under a written agreement.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company accounted for
the net proceeds of the private placement by first allocating the fair value of the 2011 warrants to a liability and then recorded
the remaining amount to equity.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Registration Rights
Agreement</U>&#160;</I>&#8211; In connection with the sale of the shares of common stock and the 2011 Warrants, the Company entered
into a registration rights agreement with all of the investors to file a registration statement on Form S-1 with the Securities
and Exchange Commission by December 23, 2011 for the resale by the purchasers of the 7,625,000 shares of common stock and the 4,956,250
shares of common stock issuable upon exercise of the 2011 Warrants issued on December 13, 2011.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Subject to grace periods,
the Company is required to keep the registration statement (and the prospectus contained in that registration statement available
for use) for resale by the investors on a delayed or continuous basis at then-prevailing market prices at all times until the earlier
of (i) the date as of which all of the investors may sell all of the shares of common stock required to be covered by the registration
statement without restriction under Rule 144 under the Securities Act (including volume restrictions) and without the need for
current public information required by Rule 144(c)(1), if applicable) or (ii) the date on which the investors shall have sold all
of the shares of common stock covered by the registration statement.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company must pay registration
delay payments of 2% of each investor&#8217;s initial investment per month if the registration statement ceases to be effective
prior to the expiration of deadlines provided for in the registration rights agreement. The initial registration statement became
effective by the stated deadline and the Company did not record any liability associated with any registration delay payments under
the registration rights agreement.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Convertible Note Warrants</U>&#160;</I>&#8211;
On October 6, 2010, as part of the Initial Notes issuance, the Company issued the Initial 2010 Warrants which were immediately
exercisable and entitled the holders of the Initial 2010 Warrants to purchase up to an aggregate of 2,941,178 shares of the Company&#8217;s
common stock until October 6, 2017 at an original exercise price of $5.95 per share, which price was subject to adjustment. The
Initial 2010 Warrants were subsequently exchanged for the 2010 Warrants having substantially the same terms. The 2010 Warrants
include both cash and cashless exercise provisions. Upon the Company&#8217;s consummation of the private placement on December
13, 2011, the original exercise price of the 2010 Warrants was reduced to $0.45 per share (&#8220;2010 Warrant Exercise Price&#8221;),
which is also subject to adjustment.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 163; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The 2010 Warrant Exercise
Price is subject to adjustment for stock splits, combinations or similar events, and, in such event, the number of shares issuable
upon the exercise of the 2010 Warrants will also be adjusted so that the aggregate 2010 Warrant Exercise Price shall be the same
immediately before and immediately after the adjustment. In addition, the 2010 Warrant Exercise Price is also subject to a &#8220;full
ratchet&#8221; anti-dilution adjustment where if the Company issues or is deemed to have issued securities at a price lower than
the then applicable 2010 Warrant Exercise Price, the 2010 Warrant Exercise Price will immediately decline to equal the price at
which the Company issues or is deemed to have issued its common stock.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">If the Company sells or issues
any securities with &#8220;floating&#8221; conversion prices based on the market price of its common stock, a holder of a 2010
Warrant has the right to substitute the &#8220;floating&#8221; conversion price for the 2010 Warrant Exercise Price upon exercise
of all or part the 2010 Warrant.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The 2010 Warrants require
payments to be made by the Company for failure to deliver the shares of common stock issuable upon exercise.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The 2010 Warrants may not
be converted if, after giving effect to the conversion, the investor together with its affiliates would beneficially own in excess
of 4.99% or 9.99% (which percentage has been established at the election of each investor) of the Company&#8217;s outstanding shares
of common stock. The blocker applicable to the exercise of the 2010 Warrants may be raised or lowered, subject to an advance notice
period, to any other percentage not in excess of 9.99%.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">If the Company issues options,
convertible securities, warrants, stock, or similar securities to holders of its common stock, each holder of a 2010 Warrant has
the right to acquire the same as if the holder had exercised its 2010 Warrant. The 2010 Warrants prohibit the Company from entering
into specified transactions involving a change of control, unless the successor entity is a publicly traded corporation that assumes
all of the Company&#8217;s obligations under the 2010 Warrants under a written agreement approved by all of the holders of the
2010 Warrants before the transaction is completed. When there is a transaction involving a permitted change of control, a holder
of a 2010 Warrant will have the right to force the Company to repurchase the holder&#8217;s 2010 Warrants for a purchase price
in cash equal to the Black Scholes value of the then unexercised portion of the 2010 Warrants.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">If at any time after the
date the Company has initially satisfied certain specified conditions, and (i)&#160;its common stock trades at a price equal to
or greater than $14.84 per share for 20 trading days in any 30 consecutive trading day period (&#8220;Mandatory Exercise Measuring
Period&#8221;), (ii)&#160;the average daily dollar trading volume of the Company&#8217;s common stock for each trading day during
the Mandatory Exercise Measuring Period<B>&#160;</B>exceeds $250,000 per day, and (iii)&#160;all such conditions are then satisfied,
the Company will have the right to require the holders of the 2010 Warrants to fully exercise all, but not less than all, of the
2010 Warrants (subject to the blocker).</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">In February 2012, certain
holders of the 2010 Warrants exercised their 2010 Warrants with respect to 252,101 shares of common stock on a cashless exercise
basis, resulting in 172,269 net shares of common stock issued by the Company.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 164; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Accounting for 2011
and 2010 Warrants</U>&#160;</I>&#8211; The Company has determined that both the 2011 Warrants and the 2010 Warrants did not meet
the conditions for classification in stockholders&#8217; equity and as such, the Company has recorded them as a liability at fair
value. The Company will revalue them at each reporting period. Accordingly, the Company recorded fair value adjustments quarterly,
with total fair value adjustments of $4,451,000 and $1,727,000 for the years ended December 31, 2011 and 2010, respectively, which
is largely attributed to warrant term shortening and reduction in the market value of the Company&#8217;s common stock. See Note
13 for the Company&#8217;s fair value assumptions. As noted above, the exercise price of the 2010 Warrants declined to $0.45 as
a result of anti-dilution adjustments due to the Company&#8217;s December 2011 equity financing. At that time, the Company recorded
an aggregate $1,100,000 expense to fair value adjustments on convertible debt and warrants in its consolidated statements of operations.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Other Warrant Issuances</U>&#160;</I>&#8211;
In March 2008, the Company issued warrants to purchase an aggregate of 439,561 shares of common stock at an exercise price of $49.00
per share, which expire in 2018. In May 2008, the Company issued warrants to purchase an aggregate of 63,189 shares of common stock
at an exercise price of $49.00 per share, which expire in 2018.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">In May 2008, the Company
issued warrants to purchase an aggregate of 428,573 shares of common stock at an exercise price of $49.70 per share, which expire
in 2013.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Warrant Summary</U>&#160;</I>&#8211;
The following table summarizes warrant activity for the years ended December 31, 2011 and 2010 (number of shares in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; text-align: center">Number of <BR>Shares</TD><TD STYLE="padding-bottom: 1.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="margin-top: 0; text-align: center; margin-bottom: 0; border-bottom: Black 1.5pt solid">Price per <BR>Share</TD><TD STYLE="padding-bottom: 1.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1.5pt solid; text-align: center">Weighted <BR>Average <BR>Exercise Price</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 49%; text-align: left; text-indent: 0pt">Balance at December 31, 2009</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">931</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: center">49.00 &#8211; 49.70</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">49.32</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-bottom: 1pt; text-indent: 0pt">Warrants issued</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,941</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center">0.45</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.45</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; text-indent: 0pt">Balance at December 31, 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,872</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: center">0.45 &#8211; 49.70</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12.20</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt">Warrants issued</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,956</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: center">1.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.50</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 0pt">Warrants exercised</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,437</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center">0.45</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.45</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: 0pt">Balance at December&nbsp;31, 2011</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,391</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: center">0.45 &#8211; 49.70</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8.39</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">11.</TD>
    <TD STYLE="width: 1187px; text-align: left">STOCK-BASED COMPENSATION.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Company has two equity
incentive compensation plans: a 2004 Stock Option Plan and a 2006 Stock Incentive Plan.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>2004 Stock Option Plan</U></I>
&#8211; The 2004 Stock Option Plan authorized the issuance of incentive stock options (&#8220;ISOs&#8221;) and non-qualified stock
options (&#8220;NQOs&#8221;) to the Company&#8217;s officers, directors or key employees or to consultants that do business with
the Company for up to an aggregate of 357,143 shares of common stock. On September 7, 2006, the Company terminated the 2004 Stock
Option Plan, except to the extent of issued and outstanding options then existing under the plan. The Company had 11,429 stock
options outstanding under its 2004 Stock Option Plan at December&#160;31, 2011 and 2010.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>2006 Stock Incentive
Plan</U></I> &#8211; The 2006 Stock Incentive Plan authorizes the issuance of options, restricted stock, restricted stock units,
stock appreciation rights, direct stock issuances and other stock-based awards to the Company&#8217;s officers, directors or key
employees or to consultants that do business with the Company for up to an aggregate of 1,214,285 shares of common stock.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 165; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Stock Options</U></I>
&#8211; On August 1, 2011 and August 25, 2011, the Company granted options to purchase an aggregate of 193,000 and 16,000 shares
of the Company&#8217;s common stock at exercise prices of $0.86 and $0.35 per share, which were the respective closing prices per
share of the Company&#8217;s common stock on the dates of grant, with estimated fair values of $0.44 and $0.18, respectively. The
options vest as to 33% on April 2, 2012 and 33% on each of April 1, 2013 and April 1, 2014. The options expire in 10 years from
the date of grant. Fair value was determined using the Black Scholes Option Pricing Model. For the August 1, 2011 grants, the inputs
to estimating fair value were: exercise price of $0.86; estimated life of 5.0 years; expected volatility of 56.7%; and risk free
interest rate of 2.50%. For the August 25, 2011 grants, the inputs to estimating fair value were: exercise price of $0.35; estimated
life of 5.0 years; expected volatility of 56.7% and risk free interest rate of 2.50%. The Company estimates expected volatility
using peer companies within its industry.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Summaries of the status of
Company&#8217;s stock option plans as of December 31, 2011 and 2010 and of changes in options outstanding under the Company&#8217;s
plans during those years are as follows (in thousands, except exercise prices):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Years Ended December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Number</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">of Shares</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Weighted Average Exercise Price</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Number</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">of Shares</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Weighted Average</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Exercise Price</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 44%; text-indent: 0pt">Outstanding at beginning of year</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">11</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">57.82</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">11</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">57.82</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Issued</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">209</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">0.82</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Outstanding at end of year</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">220</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">3.78</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">11</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">57.82</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 0pt">Options exercisable at end of year</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">11</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">57.82</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">11</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">57.82</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Stock options outstanding
as of December&#160;31, 2011, were as follows (number of shares in thousands):&#160;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Options Outstanding</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Options Exercisable</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Range of</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Exercise Prices</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Number</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Outstanding</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Weighted Average</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Remaining</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Contractual Life (yrs)</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Weighted Average</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Exercise <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Price</FONT></P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Number Exercisable</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Weighted <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Average</FONT></P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Exercise <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Price</FONT></P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; text-align: left; padding-bottom: 2px">$</TD>
    <TD STYLE="width: 11%; text-align: right; padding-bottom: 2px">0.35-0.86</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">209</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right; padding-bottom: 2px">9.59</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; padding-bottom: 2px">$</TD>
    <TD STYLE="width: 11%; text-align: right; padding-bottom: 2px">0.82</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right; padding-bottom: 2px">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px">$</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">57.75-58.10</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">11</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">3.57</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">$</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">57.82</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">11</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">$</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">57.82</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The options outstanding at
December 31, 2011 and 2010 had intrinsic values of $50,000 and $0, respectively.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 166; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Restricted Stock</U></I>
&#8211; The Company grants to certain employees and directors shares of restricted stock under its 2006 Stock Incentive Plan pursuant
to restricted stock agreements. A summary of unvested restricted stock activity is as follows (shares in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Number of</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Shares</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Weighted <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Average</B></FONT></P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Grant Date</P>
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Fair Value</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 72%; text-indent: 0pt">Unvested at December 31, 2009</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">40</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">56.63</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Issued</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">585</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">8.40</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Vested</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(145</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">14.91</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Canceled</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(11</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right; padding-bottom: 2px">45.64</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Unvested at December 31, 2010</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">469</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">9.66</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Issued</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">264</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">0.86</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Vested</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(251</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">10.56</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Canceled</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(9</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">9.70</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 0pt">Unvested at December&#160;31, 2011</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">473</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">4.27</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Stock-based compensation
expense related to employee and non-employee stock grants and options recognized in income were as follows (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Years Ended December 31,</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 72%; padding-left: 18pt; text-indent: -18pt">Employees</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">1,522</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">1,895</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 18pt; text-indent: -18pt">Non-employees</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">756</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">576</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 18pt; text-indent: -18pt">Total stock-based compensation expense</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">2,278</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">2,471</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">At December 31, 2011, the
total compensation cost related to unvested awards which had not been recognized was $2,111,000 and the associated weighted-average
period over which the compensation cost attributable to those unvested awards would be recognized was 3.54 years.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12.</FONT></TD>
    <TD STYLE="width: 1187px; text-align: left">COMMITMENTS AND CONTINGENCIES.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Commitments</U></I>
&#8211; The following is a description of significant commitments at December 31, 2011:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I>Operating Leases &#8211;
</I>Future minimum lease payments required by non-cancelable operating leases in effect at December 31, 2011 are as follows (in
thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Years Ended</P>
        <P STYLE="margin: 0">December 31,</P></TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Amount</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%; text-align: center; text-indent: 0pt">2012</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">1,474</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: center; text-indent: 0pt">2013</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,196</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: center; text-indent: 0pt">2014</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">735</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: center; text-indent: 0pt">2015</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">747</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: center; text-indent: 0pt">2016</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">701</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 2px; text-indent: 0pt">Thereafter</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">3,820</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 4px; text-indent: 0pt">Total</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">8,673</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Total rent expense during
the years ended December 31, 2011 and 2010 was $2,300,000 and $1,598,000, respectively.<BR>
</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 167; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I>Sales Commitments</I>
&#8211; At December 31, 2011, the Company had entered into sales contracts with its major customers to sell certain quantities
of ethanol, WDG and syrup. These sales contracts will be completed throughout 2012. The volumes indicated in the indexed price
contracts table will be sold at publicly-indexed sales prices determined by market prices in effect on their respective transaction
dates (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Fixed-Price Contracts</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 26%; text-indent: 0pt">Ethanol</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">2,609</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 72pt; text-indent: -72pt">WDG and syrup</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">1,662</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 72pt; text-indent: 18pt">Total</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">4,271</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin: 0">Indexed-Price Contracts</P>
        <P STYLE="margin: 0">(Volume)</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 26%; text-indent: 0pt">Ethanol (gallons)</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">113,575</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">WDG and syrup (tons)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">108</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I>Purchase Commitments</I>
&#8211; At December 31, 2011, the Company had fixed-price purchase contracts with its suppliers to purchase $17,329,000 of ethanol
and indexed-price purchase contracts with its suppliers to purchase 9,138,000 gallons of ethanol. These purchase commitments will
be satisfied throughout 2012.&#160;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Contingencies</U></I>
&#8211; The following is a description of significant contingencies at December 31, 2011:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I>Litigation &#8211; General
&#8211;</I> The Company is subject to various claims and contingencies in the ordinary course of its business, including those
related to litigation, business transactions, employee-related matters, and others. When the Company is aware of a claim or potential
claim, it assesses the likelihood of any loss or exposure. If it is probable that a loss will result and the amount of the loss
can be reasonably estimated, the Company will record a liability for the loss. If the loss is not probable or the amount of the
loss cannot be reasonably estimated, the Company discloses the claim if the likelihood of a potential loss is reasonably possible
and the amount involved could be material. While there can be no assurances, the Company does not expect that any of its pending
legal proceedings will have a material financial impact on the Company&#8217;s operating results.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I>Litigation &#8211; Barry
Spiegel</I> &#8211; In 2005, Barry J. Spiegel, a former shareholder and director of Accessity Corp., filed a complaint in the Circuit
Court of the 17th Judicial District in and for Broward County, Florida (Case No. 05018512, the &#8220;State Court Action&#8221;),
against Barry Siegel, Philip Kart, Kenneth Friedman and Bruce Udell. Messrs. Udell and Friedman are former directors of Accessity
and Pacific Ethanol. Mr. Kart is a former executive officer of Accessity and Pacific Ethanol. Mr. Siegel is a former director and
former executive officer of Accessity and Pacific Ethanol. Mr. Spiegel voluntarily dismissed his case in 2007 but later renewed
his case in 2009 and added as additional defendants PEI California, Pacific Ethanol, William L. Jones, Neil M. Koehler and Ryan
W. Turner. Messrs. Jones and Turner are directors of Pacific Ethanol. Mr. Turner is a former officer of Pacific Ethanol. Mr. Koehler
is a director and officer of Pacific Ethanol.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 168; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">In 2006, Mr. Spiegel filed
a complaint in the United States District Court for the Southern District of Florida (Case No. 06-61848, the &#8220;Federal Court
Action&#8221;), against the foregoing individual defendants and Pacific Ethanol.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The State and Federal Court
Actions alleged numerous claims and related to a share exchange transaction completed in 2005 among Accessity and the owners of
each of Kinergy, ReEnergy, LLC and PEI California. The State Court Action sought approximately $22.0 million in damages. The Federal
Court Action sought approximately $15.0 million in damages.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">After discovery, various
motions and other pre-trial proceedings, on November 9, 2011, the Company and parties to the Spiegel cases entered into a confidential
settlement agreement to settle all matters relating to the State Court Action and the Federal Court Action. The settlement agreement
became effective on November 21, 2011, whereupon the State Court Action and the Federal Court Action were dismissed with prejudice.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 50px; text-indent: 0pt">13.&#160;</TD>
    <TD STYLE="text-align: justify; width: 1187px; text-indent: 0pt">FAIR VALUE MEASUREMENTS.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The fair value hierarchy
prioritizes the inputs used in valuation techniques into three levels as follows:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="text-align: justify; width: 36pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 18pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">Level 1 &#8211; Observable inputs &#8211; unadjusted quoted prices in active markets for identical assets and liabilities;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="text-align: justify; width: 36pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 18pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">Level 2 &#8211; Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with market data; and</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="text-align: justify; width: 36pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 18pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">Level 3 &#8211; Unobservable inputs &#8211; includes amounts derived from valuation models where one or more significant inputs are unobservable. For fair value measurements using significant unobservable inputs, a description of the inputs and the information used to develop the inputs is required along with a reconciliation of Level 3 values from the prior reporting period.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Convertible Notes and
2010 Warrants</U></I> &#8211; As discussed in Notes 6 and 10, the Company recorded the convertible notes and related warrants at
fair value and designated them as Level 3 on their issuance date.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The convertible notes were
valued using a combination of a Monte Carlo Binomial Lattice-Based valuation methodology for the embedded conversion feature, adjusted
for marketability restrictions, combined with a discounted cash flow model for the payment stream of the debt instrument. Significant
assumptions used in the valuation at both the issuance date and December 31, 2010 are as follows:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2px solid; text-align: left; font-weight: bold; text-indent: 0pt">Assumptions</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt">October 6, 2010</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt">December 31, 2010</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 55%; text-align: justify; text-indent: 0pt">Conversion price</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">$ 5.95</TD>
    <TD NOWRAP STYLE="width: 9%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"></TD>
    <TD STYLE="width: 11%; text-align: right">$ 5.95</TD>
    <TD NOWRAP STYLE="width: 9%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Volatility</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">73.7</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">68.4</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Risk free interest rate</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">0.24</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">0.29</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Term (years)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1.27</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1.03</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Marketability discount</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">32.0</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">27.0</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Discount rate on plain debt</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">30.0</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">30.0</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Based on the above, the Company
estimated the fair value of the convertible notes to be $37,474,000 at October 6, 2010 and $38,108,000 at December 31, 2010. The
Company continued estimating the fair value of the convertible notes quarterly until their retirement on November 14, 2011.<BR>
</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 169; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The warrants were valued
using a Monte Carlo Binomial Lattice-Based valuation methodology, adjusted for marketability restrictions. Significant assumptions
used in the valuations for the dates noted are as follows:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: justify; text-indent: 0pt">Assumptions</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt">October 6, 2010</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt">December 31, 2010</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="width: 55%; text-align: justify; text-indent: 0pt">Strike price</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">$5.95</TD>
    <TD NOWRAP STYLE="width: 9%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">$5.95</TD>
    <TD NOWRAP STYLE="width: 9%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Volatility</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">67.0</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">63.5</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Risk free interest rate</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1.77</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2.71</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Term (years)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">7.00</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">6.90</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Marketability discount</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">50.4</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">$44.4</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Based on the above, the Company
estimated the fair value of the warrants to be $7,445,000 at October 6, 2010 and $5,718,000 at December 31, 2010.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">As discussed in Note 10,
as a result of the Company&#8217;s private placement on December 13, 2011, the strike price of the 2010 Warrants reset. The Company
estimated the fair value of the 2010 Warrants on December 13, 2011 and December 31, 2011 as follows:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: justify; text-indent: 0pt">Assumptions</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt">December 13, 2011</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt">December 31, 2011</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="width: 55%; text-align: justify; text-indent: 0pt">Strike price</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">$0.45</TD>
    <TD NOWRAP STYLE="width: 9%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">$0.45</TD>
    <TD NOWRAP STYLE="width: 9%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Volatility</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">72.3</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">68.0</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Risk free interest rate</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1.13</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1.09</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Term (years)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5.90</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5.90</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Marketability discount</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">50.2</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">47.4</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Based on the above, the Company
estimated the fair value of the 2010 Warrants to be $1,394,000 at December 13, 2011 and $226,000 at December 31, 2011.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The 2011 Warrants were valued
using a Monte Carlo Binomial Lattice-Based valuation methodology, adjusted for marketability restrictions. Significant assumptions
used in the valuations for the dates noted are as follows:</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: justify; text-indent: 0pt">Assumptions</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt">December 13, 2011</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt">December 31, 2011</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="width: 55%; text-align: justify; text-indent: 0pt">Strike price</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">$1.50</TD>
    <TD NOWRAP STYLE="width: 9%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">$1.50</TD>
    <TD NOWRAP STYLE="width: 9%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Volatility</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">72.3</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">68.0</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Risk free interest rate</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">0.85</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">0.83</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Term (years)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5.00</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">4.96</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: justify; text-indent: 0pt">Marketability discount</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">54.9</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">52.0</TD>
    <TD NOWRAP STYLE="text-align: left">%</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Based on the above, the Company
estimated the fair value of the 2011 Warrants to be $1,809,000 at December 13, 2011 and $1,695,000 at December 31, 2011.<BR>
</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 170; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Interest Rate Caps
and Swaps</U></I> &#8211; Prior to the Effective Date, the Company classified the Plant Owners&#8217; interest rate caps and swaps
into the following levels depending on the inputs used to determine their fair values. The fair value of the interest rate caps
were designated as Level 2 based on quoted prices on similar assets or liabilities in active markets. The fair values of the interest
rate swaps were designated as Level 3 and were based on a combination of observable inputs and material unobservable inputs.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The Plant Owners had five
pay-fixed-and-receive variable interest rate swaps in liability positions which were extinguished as part of the emergence from
bankruptcy. To reflect the Plant Owners&#8217; financial condition and Chapter 11 Filings, a recovery rate of 40% was applied to
that value. Management elected the 40% recovery rate in the absence of any other company-specific information. As the recovery
rate is a material unobservable input, these swaps were considered Level 3. On June 29, 2010, the liability balance of $1,628,000
was removed from the Company&#8217;s consolidated financial statements as discussed in Note 7.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Other Derivative Instruments</U></I>
&#8211; The Company&#8217;s other derivative instruments consist of commodity positions. The fair value of the commodity positions
are based on quoted prices on the commodity exchanges and are designated as Level 1.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The following table summarizes
fair value measurements by level at December 31, 2011 (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center; text-indent: 0pt">Level 1</TD>
    <TD NOWRAP STYLE="border-bottom: black 2px solid; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center; text-indent: 0pt">Level 2</TD>
    <TD NOWRAP STYLE="border-bottom: black 2px solid; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center; text-indent: 0pt">Level 3</TD>
    <TD NOWRAP STYLE="border-bottom: black 2px solid; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center; text-indent: 0pt">Total</TD>
    <TD NOWRAP STYLE="border-bottom: black 2px solid; text-align: left; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-decoration: underline; text-indent: 0pt">Assets:</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 44%; padding-bottom: 2px; padding-left: 72pt; text-indent: -72pt">Commodity contracts</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">244</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">244</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 72pt; text-indent: 9pt">Total Assets</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">244</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">244</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-decoration: underline; padding-left: 72pt; text-indent: -72pt">Liabilities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011 Warrants<FONT STYLE="vertical-align: text-top">(1)</FONT></FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">1,695</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">1,695</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2010 Warrants<FONT STYLE="vertical-align: text-top">(1)</FONT></FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">226</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">226</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 72pt; text-indent: -72pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Commodity contracts<FONT STYLE="vertical-align: text-top">(1)</FONT></FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">500</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">500</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 72pt; text-indent: 9pt">Total Liabilities</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">500</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">1,921</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">2,421</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 4pt"><DIV STYLE="font-size: 1pt; border-top: black 1px solid; width: 10%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">(1)&#160;&#160;&#160;&#160;&#160;&#160;Included
in other liabilities in the consolidated balance sheets.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 171; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The following table summarizes
fair value measurements by level at December 31, 2010 (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center; text-indent: 0pt">Level 1</TD>
    <TD NOWRAP STYLE="border-bottom: black 2px solid; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center; text-indent: 0pt">Level 2</TD>
    <TD NOWRAP STYLE="border-bottom: black 2px solid; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center; text-indent: 0pt">Level 3</TD>
    <TD NOWRAP STYLE="border-bottom: black 2px solid; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; font-weight: bold; text-align: center; text-indent: 0pt">Total</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-decoration: underline; text-indent: 0pt">Assets:</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 44%; padding-bottom: 2px; padding-left: 72pt; text-indent: -72pt">Commodity contracts</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="width: 11%; border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 72pt; text-indent: 9pt">Total Assets</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; padding-left: 72pt; text-indent: -72pt">Liabilities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Convertible notes</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">38,108</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">38,108</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2010 Warrants<FONT STYLE="vertical-align: text-top">(1)</FONT></FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5,718</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5,718</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 72pt; text-indent: -72pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Commodity contracts<FONT STYLE="vertical-align: text-top">(1)</FONT></FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">15</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">15</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 72pt; text-indent: 9pt">Total Liabilities</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">15</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">43,826</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">43,841</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">&#160;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 4pt"><DIV STYLE="font-size: 1pt; border-top: black 1px solid; width: 10%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">(1)&#160;&#160;&#160;&#160;&#160;&#160;Included
in other liabilities in the consolidated balance sheets.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">For fair value measurements
using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs is
required along with a reconciliation of Level 3 values from the prior reporting period. The changes in the Company&#8217;s fair
value of its Level 3 inputs were as follows (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Convertible Notes</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2010 Warrants</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">2011 Warrants</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Interest Rate Swaps</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 44%; padding-left: 72pt; text-indent: -72pt">Balance, December 31, 2009</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">(2,875</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Issuance of convertible notes and warrants</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">37,474</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">7,445</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Gain recognized in bankruptcy exit</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,628</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 72pt; text-indent: -72pt">Adjustments to fair value for the period</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">634</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,727</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">1,247</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 72pt; text-indent: -72pt">Balance, December 31, 2010</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">38,108</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">5,718</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#160;&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Issuance of 2011 Warrants</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,809</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Repayments of convertible notes</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(35,000</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Exercises of 2010 Warrants</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,155</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 72pt; text-indent: -72pt">Adjustments to fair value for the period</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(3,108</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(4,337</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(114</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 72pt; text-indent: -72pt">Balance, December 31, 2011</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">226</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">1,695</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 172; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL, INC.</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Reconciliation of Impact
to Statements of Operations</U></I> &#8211; The following reconciliation summarizes the initial amounts recognized for the issuance
of the convertible notes, 2010 Warrants and 2011 Warrants and subsequent amounts that are recorded in the statements of operations
as fair value adjustments (in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Balance Sheet</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid">
        <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">Statements of Operations</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin: 0">Convertible</P>
        <P STYLE="margin: 0">Notes</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin: 0">Warrants</P></TD>
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 2px; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2px solid; text-align: center">
        <P STYLE="margin: 0">Fair Value</P>
        <P STYLE="margin: 0">Gain (Loss)</P></TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; width: 58%; text-indent: 0pt">Issuance of $35.0 million on October 6, 2010</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">37,474</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">7,445</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">(9,919</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Write-off of issuance costs</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,910</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 72pt; text-indent: -72pt">Adjustments to fair value for the period</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">634</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,727</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">1,093</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 72pt; text-indent: -72pt">As of and for year ending December 31, 2010</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">38,108</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">5,718</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(11,736</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Issuance of 2011 Warrants</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">1,809</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Repayments of convertible notes</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(35,000</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 72pt; text-indent: -72pt">Exercises of 2010 Warrants</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,155</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 72pt; text-indent: -72pt">Adjustments to fair value for the period</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(3,108</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(4,451</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD>
    <TD STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(7,559</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-left: 72pt; text-indent: -72pt">As of and for year ending December 31, 2011</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">1,921</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">(7,559</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">)</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE ALIGN="CENTER" BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50px; text-indent: 0pt">14.</TD>
    <TD STYLE="width: 1187px; text-align: left">RELATED PARTY TRANSACTIONS.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Preferred Dividends</U></I>
&#8211; The Company had accrued and unpaid dividends in respect of its Series B Preferred Stock of $7,315,000 and $6,050,000 as
of December 31, 2011 and 2010, respectively.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Notes Payable to Related
Parties</U></I> &#8211; The Company had notes payable to its Chairman of the Board and its Chief Executive Officer totaling $750,000
and $1,250,000 as of December 31, 2011 and 2010, respectively. On November 30, 2011, the Company paid $500,000 in principal under
these notes. On October 29, 2010, the Company paid all accrued interest and $750,000 in principal under these notes. On November
5, 2010, the Company entered into amendments to these notes, extending the maturity date to March 31, 2012. On March 7, 2012, the
maturity date was further extended to March 31, 2013.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Notes Payable to Related
Party</U></I> &#8211; In November 2008, the Company restructured certain construction related loans of $30,000,000 in the aggregate
with Lyles United by paying all accrued and unpaid interest thereon and issuing an amended and restated promissory note in the
principal amount of $30,000,000. The amended and restated promissory note was due March 15, 2009 and accrued interest at the Prime
Rate of interest, plus 3.00%.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">In October 2008, upon completion
of the Stockton facility, the Company converted final unpaid construction costs to an unsecured note payable. The note payable
was between the Company and Lyles Mechanical Co. in the principal amount of $1,500,000 and was due with accrued interest on March
31, 2009. Interest accrued at the Prime Rate of interest, plus 2.00%.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">In February 2009, the Company
notified Lyles United and Lyles Mechanical Co. (collectively, &#8220;Lyles&#8221;) that it would not be able to pay off its notes
due March 15 and March 31, 2009 and as a result, entered into a forbearance agreement. Under the terms of the forbearance agreement,
Lyles agreed to forbear from exercising rights and remedies against the Company through April 30, 2009. These forbearances were
not extended.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 173; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">In March 2010, the Company
announced agreements designed to satisfy its indebtedness to Lyles. Socius CG II, Ltd. (&#8220;Socius&#8221;) entered into purchase
agreements with Lyles under which Socius would purchase claims in respect of the Company&#8217;s indebtedness in tranches of up
to $5,000,000, which claims Socius would then settle in exchange for shares of the Company&#8217;s common stock. Each tranche was
to be settled in exchange for the Company&#8217;s common stock valued at a 20% discount to the volume weighted average price of
the Company&#8217;s common stock over a predetermined trading period, which ranged from five to 20 trading days, immediately following
the date on which the shares were first issued to Socius.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Under this arrangement, the
Company issued shares to Socius which settled outstanding debt previously owed to Lyles in four successive transactions. For the
year ended December 31, 2010, the Company issued an aggregate of 3,441,000 shares with an aggregate fair value of $21,159,000 in
exchange for $19,000,000 in debt extinguishment, resulting in an aggregate loss of $2,159,000. The Company determined fair value
based on the closing price of its shares on the last day of the applicable trading period, which was the date the net shares to
be issued were determinable by the Company.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">On October 6, 2010, the Company
paid in full all remaining principal, accrued interest and fees owed to Lyles using the proceeds from the sale of its interest
in Front Range and the issuance and sale of the convertible notes and 2010 Warrants.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Consulting Agreement
&#8211; Ryan Turner &#8211;</U>&#160;</I>In November 2009, the Company entered into a consulting agreement with Ryan W. Turner,
who is the son-in-law of the Company&#8217;s Chairman of the Board, at $20,000 per month for consulting services relating to the
Company&#8217;s restructuring efforts. The Company paid Mr. Turner an aggregate of $23,100 for the year ended December 31, 2010.
As of December 31, 2010, the Company had no outstanding accounts payable to Mr. Turner. The Company&#8217;s consulting relationship
with Mr. Turner was terminated in connection with his appointment to the Company&#8217;s Board of Directors in February 2010. Mr.
Turner did not seek reelection in 2011 and is no longer a member of the Company&#8217;s Board of Directors.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Consulting Agreement
&#8211; Michael Kandris &#8211;</U>&#160;</I>On December 30, 2011, the Company entered into an Independent Contractor Services
Agreement with Michael Kandris, a member of the Company&#8217;s Board of Directors, appointing him as a consultant to the Company
with supervisory responsibility for ethanol plant operations, under the direction of the Company&#8217;s Chief Executive Officer.
The agreement became effective as of January 1, 2012.<I>&#160;</I>Mr. Kandris is to receive compensation as set forth in each
statement of work. The current statement of work provides that Mr. Kandris shall receive bi-weekly payments in the amount of approximately
$8,500. The agreement has an initial term of one year, and may be renewed by mutual agreement for successive one-year terms.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 50px; text-indent: 0pt">15.</TD>
    <TD STYLE="text-align: justify; width: 1187px; text-indent: 0pt">PLANT OWNERS&#8217; CONDENSED COMBINED FINANCIAL STATEMENTS.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">Since the consolidated financial
statements of the Company include entities other than the Plant Owners, below are the condensed combined financial statements of
the Plant Owners for the periods included in these consolidated financial statements during the pendency of their Chapter 11 Filings.
These condensed combined financial statements have been prepared, in all material respects, on the same basis as the consolidated
financial statements of the Company. The condensed combined financial statements of the Plant Owners during the pendency of their
Chapter 11 Filings are as follows (unaudited, in thousands):</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL HOLDING
CO. LLC AND SUBSIDIARIES</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>CONDENSED COMBINED STATEMENTS
OF OPERATIONS</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>January 1, 2010 to June
29, 2010</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 86%; padding-right: 18.9pt; text-indent: 0pt">Net sales</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">89,737</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-right: 18.9pt; text-indent: 0pt">Cost of goods sold</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">98,140</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-right: 18.9pt; text-indent: 0pt">Gross loss</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(8,403</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-right: 6.4pt; text-indent: 0pt">Selling, general and administrative expenses</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">1,829</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-right: 18.9pt; text-indent: 0pt">Loss from operations</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(10,232</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-right: 18.9pt; text-indent: 0pt">Other expense, net</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,253</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-right: 18.9pt; text-indent: 0pt">Loss before reorganization costs and gain from bankruptcy exit</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(11,485</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-right: 18.9pt; text-indent: 0pt">Reorganization costs</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(4,153</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-right: 18.9pt; text-indent: 0pt">Gain from bankruptcy exit</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">119,408</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; padding-right: 18.9pt; text-indent: 0pt">Net income</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">103,770</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 174; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>&#160;</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>PACIFIC ETHANOL HOLDING
CO. LLC AND SUBSIDIARIES</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>CONDENSED COMBINED STATEMENTS
OF CASH FLOWS</B></P>

<P STYLE="text-align: center; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>January 1, 2010 to June
29, 2010</B></P>

<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Operating Activities:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 86%; padding-left: 18pt; text-indent: -9pt">Net income</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 11%; text-align: right">103,770</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 18pt">Adjustments to reconcile net income to ash used in operating activities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Gain on bankruptcy exit</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(119,408</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Depreciation and amortization of intangibles</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">5,064</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Gain on derivative instruments</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(1,206</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Amortization of deferred financing costs</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">85</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 18pt; text-indent: -9pt">Changes in operating assets and liabilities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Accounts receivable</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(5,059</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Inventories</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">2,948</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: 0pt">Prepaid expenses and other assets</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">159</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-right: -5.25pt; padding-left: 45pt; text-indent: -18pt">Accounts payable and accrued expenses</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">6,839</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 54pt; text-indent: -18pt">Net cash used in operating activities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(6,808</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Investing Activities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: 0pt">Additions to property and equipment</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(310</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 27pt; text-indent: -18pt">Net cash impact of bankruptcy exit</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,301</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 36pt; text-indent: 0pt">Net cash used in investing activities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">(1,611</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; text-indent: 0pt">Financing Activities:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 9pt; text-indent: 0pt">Proceeds from borrowings under DIP financing</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">5,173</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; padding-left: 36pt; text-indent: 0pt">Net cash provided by financing activities</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">5,173</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: 0pt">Net decrease in cash and cash equivalents</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(3,246</TD>
    <TD NOWRAP STYLE="text-align: left">)</TD></TR>
<TR STYLE="background-color: white; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 2px; text-indent: 0pt">Cash and cash equivalents at beginning of period</TD>
    <TD STYLE="padding-bottom: 2px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2px solid; text-align: right">3,246</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 2px">&nbsp;</TD></TR>
<TR STYLE="background-color: #eeeeee; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 4px; text-indent: 0pt">Cash and cash equivalents at end of period</TD>
    <TD STYLE="padding-bottom: 4px">&nbsp;</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: left">$</TD>
    <TD STYLE="border-bottom: black 4px double; text-align: right">&#8212;</TD>
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 4px">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 50px; text-indent: 0pt">16.</TD>
    <TD STYLE="text-align: justify; width: 1187px; text-indent: 0pt">SUBSEQUENT EVENTS.</TD></TR>
</TABLE>
<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Warrant exercises</U></I>
&#8211; In February 2012, certain holders of the 2010 Warrants exercised their 2010 Warrants with respect to 252,101 shares of
common stock on a cashless exercise basis, resulting in 172,269 net shares of common stock issued by the Company.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><I><U>Note payable extension</U></I>
&#8211; On March 7, 2012, the Company extended the maturity date of its outstanding note payable to its Chief Executive Officer
in the principal amount of $750,000 to March 31, 2013. No other terms were changed.</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<!-- Field: Page; Sequence: 175; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">PACIFIC ETHANOL, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0.5in">, 2013</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>We have not authorized any dealer,
salesman or other person to give any information or to make any representation other than those contained in this prospectus and
any accompanying supplement to this prospectus. You must not rely upon any information or representation not contained in this
prospectus or any accompanying prospectus supplement. This prospectus and any accompanying supplement to this prospectus do not
constitute an offer to sell or the solicitation of an offer to buy any securities other than the registered securities to which
they relate, nor do this prospectus and any accompanying supplement to this prospectus constitute an offer to sell or the solicitation
of an offer to buy securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such
jurisdiction. The information contained in this prospectus and any accompanying supplement to this prospectus is accurate as of
the dates on their covers. When we deliver this prospectus or a supplement or make a sale pursuant to this prospectus or a supplement,
we are not implying that the information is current as of the date of the delivery or sale.</B></P>

<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">&nbsp;</P>

<!-- Field: Page; Sequence: 176 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- 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">PART II<BR>
<BR>
INFORMATION NOT REQUIRED IN PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 22pt">ITEM 13.&#9;OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The following table sets forth all expenses
to be paid by us in connection with this offering. All amounts shown are estimates except for the SEC registration fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="width: 43%; text-align: left">SEC Registration</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">1,711</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">FINRA Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Accounting Fees and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Legal Fees and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">250,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Blue Sky Fees and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Placement Agent Fees and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">201,921</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: left">Printing Costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&ndash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Miscellaneous Expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(238,238,238)">
    <TD STYLE="text-indent: 0.2in">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">483,632</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>ITEM 14.&#9;INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Section 145 of the Delaware General Corporation
Law (&ldquo;DGCL&rdquo;) permits a corporation to indemnify its directors and officers against expenses, judgments, fines and amounts
paid in settlement actually and reasonably incurred in connection with a pending or completed action, suit or proceeding if the
officer or director acted in good faith and in a manner the officer or director reasonably believed to be in the best interests
of the corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Our certificate of incorporation provides
that, except in some specified instances, our directors shall not be personally liable to us or our stockholders for monetary damages
for breach of their fiduciary duty as directors, except liability for the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any breach of their duty of loyalty to Pacific Ethanol or our stockholders;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the DGCL; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any transaction from which the director derived an improper personal benefit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In addition, our certificate of incorporation
and bylaws obligate us to indemnify our directors and officers against expenses and other amounts reasonably incurred in connection
with any proceeding arising from the fact that such person is or was an agent of ours. Our bylaws also authorize us to purchase
and maintain insurance on behalf of any of our directors or officers against any liability asserted against that person in that
capacity, whether or not we would have the power to indemnify that person under the provisions of the DGCL. We have entered and
expect to continue to enter into agreements to indemnify our directors and officers as determined by our Board. These agreements
provide for indemnification of related expenses including attorneys&rsquo; fees and settlement amounts incurred by any of these
individuals in any action or proceeding. We believe that these bylaw provisions and indemnification agreements are necessary to
attract and retain qualified persons as directors and officers. We also maintain directors&rsquo; and officers&rsquo; liability
insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 177; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in">The limitation of liability and indemnification
provisions in our certificate of incorporation and bylaws may discourage stockholders from bringing a lawsuit against our directors
for breach of their fiduciary duty. They may also reduce the likelihood of derivative litigation against our directors and officers,
even though an action, if successful, might benefit us and other stockholders. Furthermore, a stockholder&rsquo;s investment may
be adversely affected to the extent that we pay the costs of settlement and damage awards against directors and officers as required
by these indemnification provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Insofar as the provisions of our certificate
of incorporation or bylaws provide for indemnification of directors or officers for liabilities arising under the Securities Act,
we have been informed that in the opinion of the Securities and Exchange Commission this indemnification is against public policy
as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Reference is made to the following documents
filed as exhibits to this registration statement regarding relevant indemnification provisions described above and elsewhere in
this registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 69%; font-weight: bold; text-decoration: underline"><B><U>Document</U></B></TD>
    <TD STYLE="width: 11%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Number</U></B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>Certificate of Incorporation</TD>
    <TD STYLE="text-align: center">3.1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Bylaws</TD>
    <TD STYLE="text-align: center">3.2</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>Registration Rights Agreement, dated January 11, 2013, among the registrant and the investors signatory thereto</TD>
    <TD STYLE="text-align: center">4.4</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Form of Indemnity Agreement between Pacific Ethanol, Inc. and each of its executive officers and directors</TD>
    <TD STYLE="text-align: center">10.12</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD>Registration Rights Agreement, dated March 27, 2008, between Pacific Ethanol, Inc. and Lyles United, LLC</TD>
    <TD STYLE="text-align: center">10.17</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 0"><B>ITEM 15.&#9;RECENT SALES OF UNREGISTERED SECURITIES. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>Issuances to Socius CG II, Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Between March 5, 2010 and July 21,
2010, pursuant to certain Orders Approving Stipulation for Settlement of Claim (the &ldquo;Orders&rdquo;) entered by the
Superior Court of the State of California for the County of Los Angeles (the &ldquo;Court&rdquo;), we issued an aggregate of
3,441,000 shares of our common stock to Socius GC II, Ltd.&rsquo;s (&ldquo;Socius&rdquo;) in consideration of the full and
final settlement of an aggregate of $19,000,000 in claims against us held by Socius (the &ldquo;Claims&rdquo;) and legal fees
and expenses incurred by Socius. Socius purchased the Claims from Lyles United, LLC, a prior creditor of ours.&nbsp;&nbsp;The
Claims consisted of the right to receive an aggregate of $19,000,000 of principal amount under a loan made by Lyles
United LLC to us pursuant to the terms of an Amended and Restated Promissory Note dated November 7, 2008 in the original
principal amount of $30,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The offer and sale of the securities
described above were effected in reliance on Section 3(a)(10) of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>2010 Debt Financing Transaction</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On October 6, 2010, we issued $35,000,000
in aggregate principal amount of senior convertible notes (&ldquo;Initial Notes&rdquo;) and warrants to purchase an aggregate of
2,941,177 shares of our common stock at an initial exercise price of $5.95 per share (&ldquo;Initial Warrants&rdquo;) to seven
accredited investors in a private placement pursuant to a Securities Purchase Agreement, dated as of September&nbsp;27, 2010 (the
&ldquo;2010 Debt Financing&rdquo;). In connection with the 2010 Debt Financing, we paid placement agent fees of $2.5 million to
Lazard Capital Markets LLC, our placement agent.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The offer and sale of the securities
described above were effected in reliance on Section 4(2) of the Securities Act and Rule&nbsp;506 promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 178; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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 0; text-indent: 0.5in"><B>Exchange Transaction</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On January 7, 2011, we entered into a
separate Amendment and Exchange Agreements with each of the investors who purchased the Initial Notes and the Initial Warrants
in the 2010 Debt Financing (the &ldquo;Exchange Agreements&rdquo;). On January 7, 2011, under to the terms of the Exchange Agreements,
we issued $35.0 million in principal amount of senior convertible notes (&ldquo;Exchange Notes&rdquo;) in exchange for the Initial
Notes and warrants to purchase an aggregate of 2,941,177 shares of the Company&rsquo;s common stock (&ldquo;Exchange Warrants&rdquo;)
in exchange for the Initial Warrants (the &ldquo;Exchange&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The offer and sale of Exchange Notes
and Exchange Warrants were effected in reliance on Section 3(a)(9) of the Securities Act. No commission or other remuneration was
paid or given directly or indirectly for soliciting the Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>2011 Financing Transaction</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On December 13, 2011, we raised an aggregate
of $8.0 million in gross proceeds through the issuance of 7,625,000 shares of our common stock and warrants to purchase an aggregate
of up to 4,956,250 shares of our common stock at an initial exercise price of $1.50 per share to 11 accredited investors in a private
placement under the terms of a Securities Purchase Agreement, dated as of December 8, 2011. In connection with this financing,
we paid placement agent fees of $0.5 million to Lazard Capital Markets LLC, our placement agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The offer and sale of the securities
described above were effected in reliance on Section 4(2) of the Securities Act and Rule&nbsp;506 promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>2012 Financing Transaction</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">On January 11, 2013, we raised an aggregate
of $22,192,491 in gross proceeds through the issuance of $22,192,491 in aggregate principal amount of Notes and Warrants to purchase
an aggregate of 25,630,286 shares of our common stock at an initial exercise price of $0.52 per share to five accredited investors
in a private placement under the terms of a Securities Purchase Agreement, dated as of December 19, 2012. In connection with this
financing, we paid placement agent fees of $100,000 to Lazard Capital Markets LLC, our placement agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The offer and sale of the securities
described above were effected in reliance on Section 4(2) of the Securities Act and Rule&nbsp;506 promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 179; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0"><B>ITEM 16.&#9;EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>(a)&#9;Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INDEX TO EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Where Located</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit<BR>
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Description</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Form</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>File Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filing Date</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filed Herewith</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Debtors&rsquo; Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code as filed with the United States Bankruptcy Court for the District of Delaware on April 16, 2010 </FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;2.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;06/11/2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Findings of Fact, Conclusions of Law, and Order Confirming Debtors&rsquo; Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code as entered by the United States Bankruptcy Court for the District of Delaware on June 8, 2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;99.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;06/11/2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Call Option Agreement dated June 29, 2010 between the Registrant, New PE Holdco LLC and certain Members </FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;07/06/2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.4</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agreement for Purchase and Sale of Units in New PE Holdco LLC dated September&nbsp;28, 2010&nbsp;between the Registrant and CS Candlewood Special Situations Fund, L.P. </FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;09/28/2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Membership Interest Purchase Agreement dated September 27, 2010, between Pacific Ethanol California, Inc. and Daniel A. Sanders </FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.6</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;09/28/2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.6</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exhibit A to Membership Interest Purchase Agreement dated September 27, 2010, between Pacific Ethanol California, Inc. and Daniel A. Sanders </FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">S-1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">333-171612</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;2.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;01/07/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.7</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agreement for Purchase and Sale of Units in New PE Holdco LLC dated November 29, 2011 between the Registrant and Pacific Ethanol Equity Holdings LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/02/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.8</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agreement for Purchase and Sale of Units in New PE Holdco LLC dated December 8, 2011 between the Registrant and Candlewood Special Situations Fund, L.P.</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">S-1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">333-178685</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;2.8</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/22/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.9</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agreement for Purchase and Sale of Units in New PE Holdco LLC dated December 9, 2011 between the Registrant and Wexford Spectrum Investors LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">S-1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">333-178685</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;2.9</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/22/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 180; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- 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"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Where Located</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit<BR>
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Description</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Form</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>File Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filing Date</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filed Herewith</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.10</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agreement for Purchase and Sale of Units in New PE Holdco LLC dated December 9, 2011 between the Registrant and Wexford Catalyst Investors LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">S-1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">333-178685</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;2.10</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/22/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.11</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agreement for Purchase and Sale of Units in New PE Holdco LLC dated December 9, 2011 between the Registrant and Debello Investors LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">S-1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">333-178685</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;2.11</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/22/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.12</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Agreements for Purchase and Sale of Units in New PE Holdco LLC dated June 21, 2012 between the Registrant and each of Credit Suisse Securities (USA) LLC, Continental Casualty Company, Wexford Catalyst Investors LLC, Wexford Spectrum Investors LLC, Debello Investors LLC and Candlewood Special Situations Fund L.P.</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;06/27/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.13</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Agreement for Purchase and Sale of Units in New PE Holdco LLC dated December 19, 2012 between the Registrant and each of Candlewood Special Situations Fund, LP, CCVF PacEth LLC and Candlewood Credit Value Fund II, LP.</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12/19/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.14</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agreement for Purchase and Sale of Units in New PE Holdco LLC dated January 11, 2013 between the Registrant and Credit Suisse Loan Funding LLC.</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12/19/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate of Incorporation</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;3.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/29/2005</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate of Amendment to Certificate of Incorporation</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10-Q</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;3.4</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;08/16/2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate of Amendment to Certificate of Incorporation</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;3.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;06/07/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.4</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate of Designations, Powers, Preferences and Rights of the Series A Cumulative Redeemable Convertible Preferred Stock</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10-KSB</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;3.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;04/14/2006</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate of Designations, Powers, Preferences and Rights of the Series B Cumulative Convertible Preferred Stock</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/27/2008</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.6</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bylaws of the Registrant</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;3.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/29/2005</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.7</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Specimen Stock Certificate</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">S-3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">333-180731</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;4.7</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">04/13/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"></P>

<!-- Field: Page; Sequence: 181; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="5" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Where Located</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit<BR>
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Description</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Form</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>File Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filing Date</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filed Herewith</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securities Purchase Agreement, dated December 19, 2012, among the Registrant and the investors signatory thereto</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/19/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Notes issued on January 11, 2013</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;01/15/2013</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Warrants issued on January 11, 2013</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/19/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.4</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Registration Rights Agreement, dated January 11, 2013, among the Registrant and the investors signatory thereto</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.4</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;01/15/2013</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Opinion of Troutman Sanders LLP</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004 Stock Option Plan*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">S-8</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">333-123538</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;4.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/24/2005</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">First Amendment to 2004 Stock Option Plan*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;02/01/2006</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended 1995 Incentive Stock Plan*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10-KSB</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.7</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/31/2003</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.4</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006 Stock Incentive Plan, as amended*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">S-8</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">333-185884</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;4.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;01/04/2013</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Employee Restricted Stock Agreement*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10/10/2006</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.6</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Non-Employee Director Restricted Stock Agreement*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10/10/2006</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.7</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Executive Employment Agreement dated December 11, 2007 between the Registrant and Neil M. Koehler*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/17/2007</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.8</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Executive Employment Agreement dated December 11, 2007 between the Registrant and Christopher W. Wright*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/17/2007</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.9</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Executive Employment Agreement dated November 25, 2009 between the Registrant and Bryon T. McGregor*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;11/27/2009</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.10</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Independent Contractor Services Agreement dated January 1, 2012 between the Registrant and Michael D. Kandris*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">01/05/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.11</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Executive Employment Agreement dated January 6, 2013 between the Registrant and Michael D. Kandris*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">01/10/2013</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.12</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Indemnity Agreement between the Registrant and each of its Executive Officers and Directors*</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.46</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/31/2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 182; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Where Located</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit<BR>
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Description</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Form</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>File Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filing Date</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filed Herewith</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.13</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Promissory Note dated March 30, 2009 by the Registrant in favor of Neil M. Koehler</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.6</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;04/02/2009</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.14</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Ethanol Purchase and Sale Agreement dated August 9, 2006 between Kinergy Marketing, LLC and Front Range Energy, LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;08/15/2006</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.15</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amendment to Amended and Restated Ethanol Purchase and Sale Agreement dated October 17, 2006 between Kinergy Marketing, LLC and Front Range Energy, LLC </FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.7</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10/23/2006</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.16</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Warrant dated March 27, 2008 issued by the Registrant to Lyles United, LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/27/2008</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.17</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Registration Rights Agreement dated March 27, 2008 between the Registrant and Lyles United, LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.4</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/27/2008</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.18</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement dated March 27, 2008 between the Registrant and Lyles United, LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/27/2008</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.19</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Warrant dated May 22, 2008 issued by the Registrant</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;05/23/2008</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.20</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement dated May 22, 2008 among the Registrant, Neil M. Koehler, Bill Jones, Paul P. Koehler and Thomas D. Koehler</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;05/23/2008</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.21</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Warrant dated May 23, 2008 issued by the Registrant</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;05/23/2008</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.22</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Loan and Security Agreement dated May 4, 2012 by and among Kinergy Marketing LLC, Pacific Ag. Products, LLC, the parties thereto from time to time as Lenders, Wells Fargo Bank, National Association, and Wells Fargo Capital Finance, LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;05/08/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.23</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated Guarantee dated May 4, 2012 by Pacific Ethanol, Inc. in favor of Wells Fargo Capital Finance, LLC for and on behalf of Lenders</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;05/08/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<!-- Field: Page; Sequence: 183; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Where Located</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit<BR>
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Description</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Form</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>File Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filing Date</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filed Herewith</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.24</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Second Amended and Restated Asset Management Agreement dated June 30, 2011 among the Registrant, Pacific Ethanol Holding Co. LLC, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia, LLC, Pacific Ethanol Stockton, LLC and Pacific Ethanol Magic Valley, LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;07/06/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.25</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Amended and Restated Ethanol Marketing Agreement</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;07/06/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.26</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Amended and Restated Corn Procurement and Handling Agreement</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.4</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;07/06/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.27</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Amended and Restated Distillers Grains Marketing Agreement</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.5</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;07/06/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.28</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securities Purchase Agreement dated September 27, 2010 among the Registrant and the investors identified therein</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;09/28/2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.29</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Registration Rights Agreement dated October 6, 2010 among the Registrant and the investors identified therein</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.4</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;09/28/2010</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.30</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Limited Liability Company Agreement of New PE Holdco LLC</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.34</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/31/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.31</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Amendment and Exchange Agreements dated January 7, 2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;01/07/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.32</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Warrants dated January 7, 2011 issued by the Registrant</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;01/07/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.33</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securities Purchase Agreement dated December 8, 2011 between the Registrant and the investors identified therein</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">S-1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">333-178685</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;2.11</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/22/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.34</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Registration Rights Agreement dated December 13, 2011 between the Registrant and the investors identified therein</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.3</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/09/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.35</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amendment No. 1 to Registration Rights Agreement dated February 22, 2012 between the Registrant and the investors identified therein</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.43</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;03/08/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.36</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Warrants dated December 13, 2011 issued by the Registrant</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K/A</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;12/12/2011</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.37</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Underwriting Agreement by and between the Registrant and Lazard Capital Markets LLC dated as of June 28, 2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;1.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">06/28/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 184; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Where Located</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit<BR>
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Description</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 7%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Form</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>File Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit
        Number</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filing Date</B></P></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 1pt solid"><B>Filed Herewith</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.38</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Series I Warrants and Series II Warrants issued by the Registrant on July 3, 2012**</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">06/28/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.39</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Senior Unsecured Notes of the Registrant dated July 13, 2012, representing an aggregate principal amount of $10.0 million, issued to Credit Suisse Securities (USA) LLC, Continental Casualty Company, Wexford Catalyst Investors LLC, Wexford Spectrum Investors LLC, Debello Investors LLC and Candlewood Special Situations Fund L.P.</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">07/19/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.40</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement, dated August 21, 2012, by and among the Registrant and the holders of the Registrant&rsquo;s<FONT STYLE="color: black"> Series B Cumulative Convertible Preferred Stock</FONT></FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">08/24/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.41</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Underwriting Agreement by and between the Registrant and Lazard Capital Markets LLC dated as of September 21, 2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">09/21/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.42</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Warrants to Purchase Common Stock issued by the Registrant on September 26, 2012, exercisable into an aggregate of 27,500,000&nbsp;shares of the Registrant&rsquo;s common stock</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8-K</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.2</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">09/21/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.43</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Second Amended and Restated Credit Agreement dated October 29, 2012 among Pacific Ethanol Holding Co. LLC, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia , LLC, Pacific Ethanol Stockton LLC, Pacific Ethanol Magic Valley, LLC, the Lenders referred to therein, Wells Fargo Bank, N.A. and Amarillo National Bank</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10-Q</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">000-21467</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9;10.1</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11/14/2012</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.44</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">First Amendment to Second Amended and Restated Credit Agreement, dated January 4, 2013, among Pacific Ethanol Holding Co. LLC, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia , LLC, Pacific Ethanol Stockton LLC, Pacific Ethanol Magic Valley, LLC, the Lenders referred to therein, Wells Fargo Bank, N.A. and such other parties thereto as identified therein</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">X</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"></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-top: 0; margin-bottom: 0; text-align: left"></P>

<!-- Field: Page; Sequence: 185; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding: 2.25pt 0.1in; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 2.25pt 0.1in; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding: 2.25pt 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>Where
        Located</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; padding: 2.25pt 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit</B><BR>
        <B>Number</B></P></TD>
    <TD STYLE="width: 36%; padding: 2.25pt 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>Description</B></P></TD>
    <TD STYLE="width: 7%; padding: 2.25pt 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>Form</B></P></TD>
    <TD STYLE="width: 10%; padding: 2.25pt 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>File
        Number</B></P></TD>
    <TD STYLE="width: 14%; padding: 2.25pt 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>Exhibit
        Number</B></P></TD>
    <TD STYLE="width: 12%; padding: 2.25pt 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>Filing
        Date</B></P></TD>
    <TD STYLE="width: 11%; padding: 2.25pt 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 1pt solid"><B>Filed
        Herewith</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10.45</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Credit Agreement dated October 29, 2012 among Pacific Ethanol Holding Co. LLC, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia , LLC, Pacific Ethanol Stockton LLC, Pacific Ethanol Magic Valley, LLC, the Lenders referred to therein, Wells Fargo Bank, N.A., Credit Suisse Loan Funding LLC and Amarillo National Bank</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10-Q</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">000-21467</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.2</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">11/14/2012</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10.46</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">First Amendment to Credit Agreement, dated January 4, 2013, among Pacific Ethanol Holding Co. LLC, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia , LLC, Pacific Ethanol Stockton LLC, Pacific Ethanol Magic Valley, LLC, the Lenders referred to therein, Wells Fargo Bank, N.A. and such other parties thereto as identified therein</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10.47</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Intercreditor Agreement dated October 29, 2012 among Pacific Ethanol Holding Co. LLC, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia , LLC, Pacific Ethanol Stockton LLC, Pacific Ethanol Magic Valley, LLC and Wells Fargo Bank, N.A.</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10-Q</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">000-21467</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10.3</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">11/14/2012</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10.48</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Letter Agreement, dated December 26, 2012, by and among the Registrant and the holders of the Registrant&rsquo;s<FONT STYLE="color: black"> Series B Cumulative Convertible Preferred Stock</FONT></TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10.49</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">First Amendment to Promissory Note, dated March 29, 2010, by and between the Registrant and Neil M. Koehler</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10.50</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Second Amendment to Promissory Note, dated November 5, 2010, by and between the Registrant and Neil M. Koehler</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10.51</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Third Amendment to Promissory Note, dated March 7, 2012, by and between the Registrant and Neil M. Koehler</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">10.52</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Fourth Amendment to Promissory Note, dated February 7, 2013, by and between the Registrant and Neil M. Koehler</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">21.1</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Subsidiaries of the Registrant</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">23.1</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Consent of Troutman Sanders LLC (contained in Exhibit 5.1)</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">23.2</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Consent of Independent Registered Public Accounting Firm</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">24.1</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">Power of Attorney (included on the signature page to this Registration Statement)</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">101</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: left">The materials listed in footnote (1) to this table from the Registrant&rsquo;s Registration Statement on Form S-1 formatted in XBRL (eXtensible Business Reporting Language) (#)</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 2.25pt 0.1in; text-align: center">X</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 186; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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: left">______________</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 0.5in">(*)</TD><TD STYLE="text-align: justify">A contract, compensatory plan or arrangement to which a director or executive officer is a party
or in which one or more directors or executive officers are eligible to participate.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 0.5in">(**)</TD><TD STYLE="text-align: justify">Certain of the agreements filed as exhibits contain representations and warranties made by the
parties thereto. The assertions embodied in such representations and warranties are not necessarily assertions of fact, but a mechanism
for the parties to allocate risk. Accordingly, investors should not rely on the representations and warranties as characterizations
of the actual state of facts or for any other purpose at the time they were made or otherwise</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 0.5in">(***)</TD><TD STYLE="text-align: justify">The forms of Series I Warrants and Series II Warrants are identical in all respects other than
the exercise price and term applicable to each such series of Warrants.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 0.5in">(1)</TD><TD STYLE="text-align: justify">The following materials from the Registrant&rsquo;s Registration Statement on Form S-1 formatted
in XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets as of September 30, 2012 (unaudited) and December
31, 2011, (ii) Consolidated Statements of Operations for the Nine Months Ended September 30, 2012and 2011 (unaudited), (iii) Consolidated
Statements of Cash Flows for the Nine Months Ended September 30, 2012 and 2011 (unaudited), (iv) Notes to Consolidated Financial
Statements (unaudited) for the Nine Months Ended September 30, 2012, (v) Consolidated Balance Sheets as of December 31, 2011 and
2010, (vi) Consolidated Statements of Operations for the Years Ended December 31, 2011 and 2010, (vii) Consolidated Statement of
Stockholders&rsquo; Equity for the Years Ended December 31, 2011 and 2010, (viii) Consolidated Statements of Cash Flows for the
Years Ended December 31, 2011 and 2010 and (ix) Notes to Consolidated Financial Statements for the Years Ended December 31, 2011
and 2010.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 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: 0.5in">(#)</TD><TD>Pursuant to applicable securities laws and regulations, we are deemed to have complied with the reporting obligation relating
to the submission of interactive data files in such exhibits and are not subject to liability under any anti-fraud provisions of
the federal securities laws as long as we have made a good faith attempt to comply with the submission requirements and promptly
amend the interactive data files after becoming aware that the interactive data files fail to comply with the submission requirements.
Users of this data are advised that, pursuant to Rule 406T, these interactive data files are deemed not filed and otherwise are
not subject to liability.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"><B>(b)&#9;Financial Statement Schedules.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">All schedules have been omitted because
they are either inapplicable or the required information has been given in the financial statements or notes thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 187; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><B>ITEM 17.&#9;UNDERTAKINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(1)&#9;To file, during any period in
which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in">(i)&#9;To include any prospectus
required by Section 10(a)(3) of the Securities Act of 1933;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in">(ii)&#9;To reflect in the prospectus
any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b) if, in the aggregate,
the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in
the &ldquo;Calculation of Registration fee&rdquo; table in the effective registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-indent: 0.5in">(iii)&#9;To include any material
information with respect to the plan of distribution not previously disclosed in the registration statement or any material change
to such information in the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(2)&#9;That, for the purpose of determining
any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
<I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">(3)&#9;To remove from registration by
means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">The undersigned Registrant hereby undertakes
that for the purpose of determining liability under the Securities Act to any purchaser, if the Registrant is subject to Rule 430C,
each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration
statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included
in the registration statement as of the date it is first used after effectiveness. <I>Provided, however, </I>that no statement
made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or
deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will,
as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the
registration statement or prospectus that was part of the registration statement or made in any such document immediately prior
to such date of first use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to
the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 188; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Sacramento, State of California, on this 7th<SUP> </SUP>day of February, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0 0; text-indent: 0.5in">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="margin-top: 0; margin-bottom: 0">Pacific Ethanol, Inc.,</P>
                    <P STYLE="margin-top: 0; margin-bottom: 0">a Delaware corporation</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ NEIL M. KOEHLER</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Neil M. Koehler<BR>
Chief Executive Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0 0; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENTS, that
each person whose signature appears below constitutes and appoints Neil M. Koehler his attorney-in-fact and agent, with the power
of substitution and resubstitution, for him and in his name, place or stead, in any and all capacities, to sign any amendment to
this registration statement on Form S-1, and to file such amendments, together with exhibits and other documents in connection
therewith, with the Securities and Exchange Commission, granting to such attorney-in-fact and agent, full power and authority to
do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully as he might
or could do in person, and ratifying and confirming all that the attorney-in-fact and agent, or his substitute or substitutes,
may do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; padding-right: 0.7pt; padding-bottom: 3pt; padding-left: 0.7pt; font-weight: bold; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Signature</U></B></FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 30%; padding-right: 0.7pt; padding-bottom: 3pt; padding-left: 0.7pt; font-weight: bold; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Title</U></B></FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 30%; padding-right: 0.7pt; padding-bottom: 3pt; padding-left: 0.7pt; font-weight: bold; text-decoration: underline; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Date</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/
        WILLIAM L. JONES</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 5pt 0">William L. Jones</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in"><FONT STYLE="font-size: 10pt">Chairman of the Board and Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: center"><FONT STYLE="font-size: 10pt">February 6, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/
        NEIL M. KOEHLER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 5pt 0">Neil M. Koehler</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in"><FONT STYLE="font-size: 10pt">President, Chief Executive Officer (principal executive officer) and Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: center"><FONT STYLE="font-size: 10pt">February 7, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/
        BRYON T. MCGREGOR</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 5pt 0">Bryon T. McGregor</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in"><FONT STYLE="font-size: 10pt">Chief Financial Officer (principal financial and accounting officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: center"><FONT STYLE="font-size: 10pt">February 7, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/
        MICHAEL D. KANDRIS</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 5pt 0">Michael D. Kandris</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: justify"><FONT STYLE="font-size: 10pt">Chief Operating Officer and Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: center"><FONT STYLE="font-size: 10pt">February 8, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/
        TERRY L. STONE</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 5pt 0">Terry L. Stone</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: center"><FONT STYLE="font-size: 10pt">February 7, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/
        JOHN L. PRINCE</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 5pt 0">John L. Prince</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: center"><FONT STYLE="font-size: 10pt">February 8, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/DOUGLAS
        L. KEITA</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 5pt 0">Douglas L. Kieta</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: center"><FONT STYLE="font-size: 10pt">February 7, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/
        LARRY D. LAYNE</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 5pt 0">Larry D. Layne</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: justify"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 0.2in; text-align: center"><FONT STYLE="font-size: 10pt">February 7, 2013</FONT></TD></TR>
</TABLE>
<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; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Page; Sequence: 189; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<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">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">INDEX TO EXHIBITS</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"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Number</U></B></P></TD>
    <TD STYLE="width: 90%; font-weight: bold; text-decoration: underline; text-align: center">Description</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: center">5.1</TD>
    <TD>Opinion of Troutman Sanders LLP</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">10.44</TD>
    <TD>First Amendment to Second Amended and Restated Credit Agreement, dated January 4, 2013, among Pacific Ethanol Holding Co. LLC, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia , LLC, Pacific Ethanol Stockton LLC, Pacific Ethanol Magic Valley, LLC, the Lenders referred to therein, Wells Fargo Bank, N.A. and such other parties thereto as identified therein</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: center">10.46</TD>
    <TD>First Amendment to Credit Agreement, dated January 4, 2013, among Pacific Ethanol Holding Co. LLC, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia , LLC, Pacific Ethanol Stockton LLC, Pacific Ethanol Magic Valley, LLC, the Lenders referred to therein, Wells Fargo Bank, N.A. and such other parties thereto as identified therein</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">10.48</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Letter Agreement, dated December 26, 2012, by and among the Registrant and the holders of the Registrant&rsquo;s<FONT STYLE="color: black"> Series B Cumulative Convertible Preferred Stock</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: center">10.49</TD>
    <TD>First Amendment to Promissory Note, dated March 29, 2010, by and between the Registrant and Neil M. Koehler</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">10.50</TD>
    <TD>Second Amendment to Promissory Note, dated November 5, 2010, by and between the Registrant and Neil M. Koehler</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: center">10.51</TD>
    <TD>Third Amendment to Promissory Note, dated March 7, 2012, by and between the Registrant and Neil M. Koehler</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">10.52</TD>
    <TD>Fourth Amendment to Promissory Note, dated February 7, 2013, by and between the Registrant and Neil M. Koehler</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: center">21.1</TD>
    <TD>Subsidiaries of the Registrant</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">23.1</TD>
    <TD>Consent of Troutman Sanders LLC (contained in Exhibit 5.1)</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: center">23.2</TD>
    <TD>Consent of Independent Registered Public Accounting Firm</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">24.1</TD>
    <TD>Power of Attorney (included on the signature page to this Registration Statement)</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="text-align: center">101.INS</TD>
    <TD>The following materials from the Registrant&rsquo;s Registration Statement on Form S-1 formatted in XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets as of September 30, 2012 (unaudited) and December 31, 2011, (ii) Consolidated Statements of Operations for the Nine Months Ended September 30, 2012and 2011 (unaudited), (iii) Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2012 and 2011 (unaudited), (iv) Notes to Consolidated Financial Statements (unaudited) for the Nine Months Ended September 30, 2012, (v) Consolidated Balance Sheets as of December 31, 2011 and 2010, (vi) Consolidated Statements of Operations for the Years Ended December 31, 2011 and 2010, (vii) Consolidated Statement of Stockholders&rsquo; Equity for the Years Ended December 31, 2011 and 2010, (viii) Consolidated Statements of Cash Flows for the Years Ended December 31, 2011 and 2010 and (ix) Notes to Consolidated Financial Statements for the Years Ended December 31, 2011 and 2010.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 3in">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 3in">&nbsp;</P>

<!-- Field: Page; Sequence: 190; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->II-14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 3in"></P>






</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>paceth_s1-ex0501.htm
<DESCRIPTION>OPINION LETTER
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: right"><B></B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: right"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>[TROUTMAN SANDERS LLP LETTERHEAD]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">February 8, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Pacific Ethanol, Inc.<BR>
400 Capital Mall, Suite 2060<BR>
Sacramento, CA 95814</TD>
    <TD STYLE="width: 50%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-bottom: 12pt; text-align: justify"></TD>
    <TD STYLE="width: 5%">Re:</TD>
    <TD STYLE="width: 90%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 48.25pt 0 0; text-align: justify">Registration Statement on Form
        S-1</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 48.25pt 0pt 0; text-align: justify"><U>Registering 33,000,000 Shares
        of Common Stock</U></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">We have acted as
counsel to Pacific Ethanol, Inc., a Delaware corporation (the&nbsp;&rdquo;Company&rdquo;), in connection with the registration
statement on Form S-1 to which this opinion is an exhibit (the &ldquo;Registration Statement&rdquo;) with respect to the offer
and sale by the persons and entities named in the Registration Statement (the &ldquo;Selling Security Holders&rdquo;) of up to
an aggregate of 33,000,000 shares of the Company&rsquo;s common stock, $0.001 par value per share (&ldquo;Common Stock&rdquo;),
comprising the following (collectively, the &ldquo;Shares&rdquo;):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(i)</TD><TD STYLE="text-align: justify; width: 90%">25,630,286 shares of our Common Stock (the &ldquo;Warrant Shares&rdquo;) issuable upon exercise
of warrants to purchase common stock (the &ldquo;Warrants&rdquo;) issued on January 11, 2013; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(ii)</TD><TD STYLE="text-align: justify; width: 90%">7,369,714 shares of Common Stock (the &ldquo;Interest Shares&rdquo;), consisting of a portion of
the number of shares of Common Stock, issuable, at the Company&rsquo;s election, in payment of interest under the terms of senior
unsecured notes issued on January 11, 2013 (the &ldquo;Notes&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">This opinion is
being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act of 1933, as amended
(the &ldquo;Securities Act&rdquo;), and no opinion is expressed herein as to any matter pertaining to the contents of the Registration
Statement or prospectus forming a part of the Registration Statement, other than as to the validity of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">We are familiar
with the corporate actions taken and proposed to be taken by the Company in connection with the authorization, issuance and sale
of the Shares and have made such other legal and factual inquiries as we deem necessary for purposes of rendering this opinion.
We have relied upon certificates and other assurances of officers of the Company and others as to factual matters; we have not
independently verified such matters. We have assumed the genuineness of all signatures, the authenticity of all documents submitted
to us as originals, the conformity to original documents of all documents submitted to us as copies and the authenticity of the
originals of such copied documents. We have also assumed that the Shares are and will be evidenced by appropriate certificates
that have been properly executed and delivered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Based on the foregoing
and in reliance thereon, and subject to the qualifications and limitations set forth below, we are of the opinion that (i) the
Shares have been duly authorized by all necessary corporate action of the Company, (ii) the Warrant Shares, when issued upon exercise
of each of the Warrants in accordance with their respective terms, will be validly issued, fully paid and non-assessable and (iii)
the Interest Shares, when issued in accordance with the terms of the Notes, will be validly issued, fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">You have informed
us that the Selling Security Holders may sell the Shares from time to time on a delayed or continuous basis. This opinion is limited
to the Delaware General Corporation Law (&ldquo;DGCL&rdquo;), including the statutory provisions of the DGCL, all applicable provisions
of the Constitution of the State of Delaware and all reported judicial decisions interpreting these laws, and federal law, exclusive
of state securities and blue sky laws, rules and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">We hereby consent
to the use of our name under the caption &ldquo;Legal Matters&rdquo; in the prospectus forming a part of the Registration Statement
and to the filing of this opinion as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not admit that we
are within the category of persons whose consent is required under Section 7 of the Securities Act, or the General Rules and Regulations
of the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 5in">Respectfully submitted,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 5in">/s/
Troutman Sanders LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-bottom: 0">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.44
<SEQUENCE>3
<FILENAME>paceth_s1-ex1044.htm
<DESCRIPTION>FIRST AMENDMENT TO SECOND AMENDMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B></B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Exhibit 10.44</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FIRST AMENDMENT TO
SECOND AMENDED AND RESTATED </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>CREDIT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This FIRST
AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this &ldquo;<U>Amendment</U>&rdquo;), dated as of January 4, 2013,
is entered into by and among PACIFIC ETHANOL HOLDING CO. LLC, a Delaware limited liability company (&ldquo;<U>Pacific
Holding</U>&rdquo;), PACIFIC ETHANOL MADERA LLC, a Delaware limited liability company (&ldquo;<U>Madera</U>&rdquo;), PACIFIC
ETHANOL COLUMBIA, LLC, a Delaware limited liability company (&ldquo;<U>Boardman</U>&rdquo;), PACIFIC ETHANOL STOCKTON LLC, a
Delaware limited liability company (&ldquo;<U>Stockton</U>&rdquo;), and PACIFIC ETHANOL MAGIC VALLEY, LLC, a Delaware limited
liability company (&ldquo;<U>Burley</U>&rdquo; and, together with Pacific Holding, Madera, Boardman and Stockton, the
&ldquo;<U>Borrowers</U>&rdquo;), Pacific Holding, as Borrowers&rsquo; Agent, NEW PE HOLDCO LLC, a Delaware limited liability
company, as Pledgor (the &ldquo;<U>Pledgor</U>&rdquo;), each of the Lenders whose signatures appear on the signature pages to
this Amendment (individually, each a &ldquo;<U>Consenting Lender</U>&rdquo; and collectively, the &ldquo;<U>Consenting
Lenders</U>&rdquo;), WELLS FARGO BANK, N.A., as administrative agent for the Lenders
(&ldquo;<U>Administrative Agent</U>&rdquo;), WELLS FARGO BANK, N.A., as collateral agent for the Senior Secured Parties
(&ldquo;<U>Collateral Agent</U>&rdquo;) and AMARILLO NATIONAL BANK, as accounts bank (&ldquo;<U>Accounts Bank</U>&rdquo;).
Capitalized terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the Credit Agreement
(as hereinafter defined).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>WHEREAS</B>, Borrowers,
Borrowers&rsquo; Agent, the Pledgor, the Lenders party thereto, Administrative Agent, Collateral Agent and Accounts Bank entered
into that certain Second Amended and Restated Credit Agreement dated as of October 29, 2012 (the &ldquo;<U>Credit Agreement</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>WHEREAS</B>, Borrowers
and Borrowers&rsquo; Agent have requested, and the Required Lenders have
agreed to, certain amendments to the Credit Agreement upon the terms and subject to the conditions set forth herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>NOW, THEREFORE</B>,
the parties hereto agree that upon the occurrence of the Amendment Effective Date (as hereinafter defined), the Credit Agreement
is hereby amended as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; text-align: left; font-size: 10pt">SECTION 1.</TD>
    <TD STYLE="width: 85%; text-align: justify; font-size: 10pt"><U>Amendments to Credit Agreement</U>. The Credit Agreement is
    hereby amended as of the Amendment Effective Date as follows:</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 22pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">1.1.</TD><TD STYLE="text-align: justify; width: 79%">Section 11.03(j)(iv) of the Credit Agreement is hereby deleted in its entirety and replaced with
the following:</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">(iv)
notwithstanding any provision of this Agreement to the contrary, following (A) the purchase of any Loan or Commitment by an Affiliated
Lender and (B) the payment and performance in full of all obligations under all PEI Senior Unsecured Notes, such Affiliated Lender
may (but, except as otherwise provided in the foregoing clause (iii), shall not be obligated to) cancel such Loan and/or terminate
such Commitment via contribution to the capital of one or more Borrowers or otherwise and such Loans and/or Commitments shall be
deemed to be no longer outstanding or available under any provision of the Financing Documents.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">1.2.</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in; width: 79%">The following new defined terms are hereby added to Exhibit A of the Credit Agreement in the appropriate
alphabetical order as follows:</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&ldquo;<U>Designated
Tranche A-2 Term Loans</U>&rdquo; means each Tranche A-2 Term Loan held by a Designated Tranche A-2 Lender.&rdquo;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&ldquo;<U>Designated
Tranche A-2 Lender</U>&rdquo; means (a) Candlewood Special Situations Master Fund, Ltd., CWD OC 522 Master Fund Ltd. and Credit
Suisse Loan Funding LLC, (b) any Affiliated Lender or (c) any assignee of any Lender described in the foregoing clauses (a) and
(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&ldquo;<U>PEI
Senior Unsecured Notes</U>&rdquo; means those certain senior unsecured notes to be issued by Pacific Ethanol pursuant to the
Securities Purchase Agreement dated as of December 19, 2012 by and among Pacific Ethanol and the investors party thereto.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">1.3.</TD><TD STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in; width: 79%">The definition of &ldquo;Maturity Date&rdquo; in the Credit Agreement is hereby deleted in its
entirety and replaced with the following:</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&ldquo;<U>Maturity
Date</U>&rdquo; means (a) with respect to the Extended Loans and the Designated Tranche A-2 Term Loans, June 30, 2016, and (b)
with respect to all other Loans, the Original Maturity Date.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-size: 10pt; width: 15%">SECTION 2.</TD>
    <TD STYLE="text-align: justify; font-size: 10pt; width: 85%"><U>Consent to Amendment of Senior Credit Agreement</U>. The Consenting Lenders hereby consent to the execution and delivery by each party thereto of the First Amendment to Credit Agreement of even date herewith and substantially in the form attached hereto as <U>Exhibit A</U> (the &ldquo;<U>Senior Credit Agreement Amendment</U>&rdquo;).</TD></TR>
</TABLE>


<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></P>




<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; text-align: left; font-size: 10pt">SECTION 3.</TD>
    <TD STYLE="width: 85%; text-align: justify; font-size: 10pt"><U>Payment of Costs and Fees</U>. Each Borrower (i) reaffirms
    its obligations under <U>Section 11.07</U> of the Credit Agreement and (ii) without limiting the provisions set forth in <U>Section
    11.07</U> of the Credit Agreement, acknowledges, consents and agrees that it shall promptly pay, upon receipt of invoices
    therefor, to the Administrative Agent and each Consenting Lender all reasonable out-of-pocket costs, fees, expenses and charges
    of every kind in connection with the preparation, negotiation, execution and delivery of this Amendment incurred by or on
    behalf of such Persons, including, without limitation, the reasonable fees and disbursements of Sidley Austin LLP, counsel
    to certain Consenting Lenders.</TD></TR>
</TABLE>


<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-indent: 0in">&nbsp;</P>




<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; text-align: left; font-size: 10pt">SECTION 4.</TD>
    <TD STYLE="text-align: justify; font-size: 10pt; text-decoration: underline; width: 85%">Acknowledgements.</TD></TR>
</TABLE>


<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">4.1.</TD><TD STYLE="text-align: justify; width: 79%"><U>Reaffirmation of Obligations</U>. Each Loan Party hereby (a)  reaffirms,
                                                           acknowledges, confirms and agrees to its respective guarantees, pledges and grants of security interests and other
                                                           commitments and Obligations under the Financing Documents and (b) confirms and agrees that the Financing Documents and all
                                                           guarantees, pledges and grants of security interests and other commitments and Obligations thereunder shall continue to be in
                                                           full force and effect following the effectiveness of this Amendment. All Obligations under the Credit Agreement and the other
                                                           Financing Documents owing by the Loan Parties to the Administrative Agent, the Collateral Agent, the Accounts Bank and each
                                                           Lender, as the case may be, are unconditionally owing by the Loan Parties to the Administrative Agent, the Collateral Agent
                                                           and each Lender, as the case may be, without offset, defense or counterclaim of any kind, nature or description
                                                           whatsoever.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">4.2.</TD><TD STYLE="text-align: justify; width: 79%"><U>Acknowledgement of Security Interests</U>. Each Loan Party hereby acknowledges, confirms and
agrees that the Collateral Agent, for itself and the benefit of Senior Secured Parties, has and shall continue to have valid, enforceable
and perfected first-priority liens (subject only to Permitted Liens) upon and security interests in the Collateral granted to the
Collateral Agent, for itself and the benefit of Senior Secured Parties, pursuant to the Financing Documents.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">4.3.</TD><TD STYLE="text-align: justify; width: 79%"><U>Binding Effect of Documents</U>. Each Loan Party hereby acknowledges, confirms
                                                           and agrees that: (i) each of the Financing Documents to which it is a party has been duly executed and delivered to the
                                                           Administrative Agent, the Collateral Agent, the Accounts Bank and the Lenders thereto by it, and each is in full force and
                                                           effect as of the Amendment Effective Date, (ii) the agreements and obligations of such Loan Party contained in the Credit
                                                           Agreement as amended by this Amendment (the &ldquo;<U>Amended Credit Agreement</U>&rdquo;), in each of the other Financing
                                                           Documents and in this Amendment constitute the legal, valid and binding obligations of such Loan Party, enforceable against
                                                           such Loan Party in accordance with their respective terms, and such Loan Party has no valid defense to the enforcement of the
                                                           obligations under the Amended Credit Agreement or the other Financing Documents, except as enforceability may be limited by
                                                           bankruptcy, insolvency, moratorium, reorganization or other similar laws limiting creditors rights generally and except as
                                                           enforceability may be limited by general principles of equity (regardless of whether such enforceability is considered in a
                                                           proceeding in equity or at law) and (iii) the Administrative Agent, the Collateral Agent, the Accounts Bank and each Lender
                                                           are and shall be entitled to the rights, remedies and benefits provided for in the Financing Documents and under applicable
                                                           law or at equity.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 5.</TD><TD STYLE="text-align: justify; width: 85%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT><U>Representations
and Warranties of Loan Parties</U>. Each of the Loan Parties hereby represents and warrants in favor of the Administrative Agent,
the Collateral Agent, the Accounts Bank and each Lender as follows:</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.1.</TD><TD STYLE="text-align: justify; width: 79%">The execution, delivery and performance by such Loan Party of this Amendment and the performance
of the Amended Credit Agreement are within such Loan Party&rsquo;s powers and have been duly authorized by all necessary action
on the part of such Loan Party.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.2.</TD><TD STYLE="text-align: justify; width: 79%">This Amendment has been duly executed and delivered by such Loan Party and each of this Amendment,
the Amended Credit Agreement and the other Financing Documents constitutes a legal, valid and binding obligation of such Loan Party
enforceable in accordance with its terms except as enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization
or other similar laws limiting creditors rights generally and except as enforceability may be limited by general principles of
equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.3.</TD><TD STYLE="text-align: justify; width: 79%">The execution, delivery or performance of this Amendment by such Loan Party (i) does not require
any consent or approval of, registration of filing with, or any other action by, any Person (including, without limitation, any
Governmental Authority) except (A) such as have been obtained or made and are in full force and effect and (B) filings necessary
to perfect Liens created by the Financing Documents, (ii) will not violate the organizational or governing documents of any Loan
Party and (iii) will not violate any applicable Law or any Contractual Obligation applicable to or binding upon such Loan Party
or any of their respective properties or assets.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.4.</TD><TD STYLE="text-align: justify; width: 79%">No event has occurred or is continuing, that would constitute a Default or an Event of Default
under the Credit Agreement, the Amended Credit Agreement or any other Financing Document.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.5.</TD><TD STYLE="text-align: justify; width: 79%">As of the Amendment Effective Date, no litigation by, investigation known to such
                                                           Loan Party by, or proceeding of, any Governmental Authority is pending or, to the knowledge of such Loan Party, has been
                                                           threatened against such Loan Party which (i) challenges such Loan Party&rsquo;s right, power, or competence to enter into
                                                           this Amendment or perform any of its obligations under this Amendment, the Amended Credit Agreement or any other the
                                                           Financing Documents or the validity or enforceability of this Amendment, the Amended Credit Agreement or any other Financing
                                                           Document or any action taken under this Amendment, the Amended Credit Agreement or any other Financing Document or (ii) is
                                                           reasonably likely, if adversely decided, to have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.6.</TD><TD STYLE="text-align: justify; width: 79%">After giving effect to this Amendment, the representations and warranties of such
                                                           Loan Party contained in the Amended Credit Agreement and the other Financing Documents are true and correct in all material
                                                           respects (provided, that if any representation or warranty is by its terms qualified by concepts of materiality, such
                                                           representation shall be true and correct in all respects) on and as of the Amendment Effective Date with the same effect as
                                                           if such representations and warranties had been made on and as of such date, except that any such representation or warranty
                                                           which is expressly made only as of a specified date need be true only as of such date.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 6.</TD><TD STYLE="text-align: justify; width: 85%"><U>Conditions to
Effectiveness of this Amendment</U>. This Amendment shall become effective as of the first date on or prior to January 15, 2013
on which each of the following conditions has been satisfied (or waived in writing by the Required Lenders) (the &ldquo;<U>Amendment
Effective Date</U>&rdquo;):</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.1.</TD><TD STYLE="text-align: justify; width: 79%"><U>Amendment</U>. The Administrative Agent shall have received duly executed counterparts of this
Amendment from each Loan Party, the Required Lenders, the Collateral Agent, the Administrative Agent and the Accounts Bank.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.2.</TD><TD STYLE="text-align: justify; width: 79%"><U>Senior Credit Agreement Amendment</U>. The substantially concurrent occurrence of the &ldquo;Amendment
Effective Date&rdquo; as defined in the Senior Credit Agreement Amendment.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.3.</TD><TD STYLE="text-align: justify; width: 79%"><U>Closing under Securities Purchase Agreement</U>. All conditions precedent to the &ldquo;Closing&rdquo;
as defined in the Securities Purchase Agreement, dated as of December 19, 2012 by and among Pacific Ethanol and the investors party
thereto, have been satisfied (other than the occurrence of the &ldquo;Amendment Effective Date&rdquo; as defined in each of this
Amendment and in the Senior Credit Agreement Amendment).</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.4.</TD><TD STYLE="text-align: justify; width: 79%"><U>Costs and Expenses</U>. The Borrowers shall have paid all fees, costs and expenses incurred
in connection with this Amendment and any other Financing Documents that have been invoiced and are required to be paid hereunder
or under the Credit Agreement (including, without limitation, reasonable legal fees and expenses of the Administrative Agent and
each Consenting Lender).</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.5.</TD><TD STYLE="text-align: justify; width: 79%"><U>Representations and Warranties</U>. The representations and warranties made or deemed made by
the Loan Parties under this Amendment shall be true and correct (subject to the materiality qualifiers set forth in such representations
and warranties) as of the Amendment Effective Date.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.6.</TD><TD STYLE="text-align: justify; width: 79%"><U>Customary Closing Documents</U>. The Consenting Lenders shall have
received such officer&rsquo;s certificates, secretary&rsquo;s certificates, resolutions, lien searches and other customary deliverables
as they shall request.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 67.5pt; text-indent: 0in">Upon satisfaction of the
foregoing closing conditions, <FONT STYLE="text-underline-style: none; color: windowtext">the</FONT> Consenting Lenders shall promptly
provide written confirmation to Borrowers&rsquo; Agent <FONT STYLE="text-underline-style: none; color: windowtext">and the Administrative
Agent </FONT>of such satisfaction and identify the Amendment Effective Date.</P>



<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 67.5pt; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 67.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 7.</TD><TD STYLE="text-align: justify; width: 85%"><U>Effect on the
Financing Documents</U>.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">7.1.</TD><TD STYLE="text-align: justify; width: 79%">Except as set forth in this Amendment, the Credit Agreement and
                                                           each of the other Financing Documents shall be and remain unchanged and in full force and effect in accordance with their
                                                           respective terms, are hereby ratified and confirmed in all respects and the Administrative Agent, the Collateral Agent, the
                                                           Accounts Bank and each Lender expressly reserves the right to require strict compliance with the terms of the Credit
                                                           Agreement (and, following the Amendment Effective Date, the Amended Credit Agreement) and the other Financing Documents. The
                                                           execution, delivery, and performance of this Amendment shall not operate as a modification or waiver of any right, power, or
                                                           remedy of any Agent or any Lender under the Credit Agreement (and, following the Amendment Effective Date, the Amended
                                                           Credit                                                            Agreement) or any other Financing Document and no such
                                                           action shall be construed as (i) a waiver or forbearance of any of the
                                                           Administrative Agent&rsquo;s, the Collateral Agent&rsquo;s, the Accounts Bank&rsquo;s or the Lenders&rsquo; rights,
                                                           remedies,                                                            and powers against the Borrowers, any other Loan Party
                                                           or the Collateral (including, without limitation, the right to
                                                           terminate without notice the making of Revolving Loans) or (ii) a waiver of any Default or Event of Default. Notwithstanding
                                                           any provision of this Amendment, nothing herein shall adversely affect the rights, remedies, duties, liabilities,
                                                           obligations                                                            and/or responsibilities of any Lender that has not
                                                           consented to the terms hereof to the extent such consent may be required
                                                           pursuant to the Credit Agreement, including Section 11.01 thereof.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">7.2.</TD><TD STYLE="text-align: justify; width: 79%">Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to &ldquo;this
Agreement,&rdquo; &ldquo;hereunder,&rdquo; &ldquo;herein,&rdquo; &ldquo;hereof&rdquo; or words of like import referring to the
Credit Agreement, and each reference in the other Financing Documents to &ldquo;the Credit Agreement,&rdquo; &ldquo;thereunder,&rdquo;
&ldquo;therein,&rdquo; &ldquo;thereof&rdquo; or words of like import referring to the Credit Agreement, shall mean and be a reference
to the Credit Agreement as modified by this Amendment.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">7.3.</TD><TD STYLE="text-align: justify; width: 79%">To the extent that any terms and conditions in any of the Financing Documents shall contradict
or be in conflict with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions
are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Credit Agreement as modified hereby
(except to the extent that such contradiction or conflict is expressly permitted by this Amendment).</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 8.</TD><TD STYLE="text-align: justify; width: 85%"><U>Governing Law</U>.
This Amendment shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York, without
regard to conflicts of law principles that would require the application of laws of another jurisdiction.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 9.</TD><TD STYLE="text-align: justify; width: 85%"><U>Financing Document</U>.
                                                                 This Amendment shall be deemed to be a Financing Document for
                                                                 all purposes.</TD></TR>
</TABLE>
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 10.</TD><TD STYLE="text-align: justify; width: 85%"><U>RELEASE BY LOAN
PARTIES</U>. As of the Effective Date, each Loan Party hereby waives, releases, remises and forever discharges the Administrative Agent, the
Collateral Agent, the Accounts Bank, each Lender, each of the other Senior Secured Parties, each of their respective Affiliates
and each of the officers, directors, employees, and professionals of each Lender, the Administrative Agent, the Collateral Agent,
the Accounts Bank and each of the other Senior Secured Parties and their respective Affiliates (collectively, the &ldquo;Releasees&rdquo;),
from any and all claims, demands, obligations, liabilities, causes of action, damages, losses, costs and expenses of any kind
or character, known or unknown, past or present, liquidated or unliquidated, suspected or unsuspected, which such Loan Party ever
had from the beginning of the world or now has or that any of the Loan Parties&rsquo; respective successors and assigns hereafter
can or may have against any such Releasee which relates, directly or indirectly to the Credit Agreement, any other Financing Document,
or to any acts or omissions of any such Releasee relating to the Credit Agreement or any other Financing Document in each case,
pertaining to facts, events or circumstances existing on or prior to the date hereof<FONT STYLE="text-underline-style: none; color: windowtext">,
including, without limitation, the execution and delivery by any and all Releasees of this Amendment,</FONT> except for the duties
and obligations expressly set forth in this Amendment, the Credit Agreement and the other Financing Documents (as modified by
the provisions hereof). As to each and every claim released hereunder, each Loan Party hereby represents that it has received
the advice of legal counsel with regard to the releases contained herein, and waives the benefits of each provision of applicable
federal or state law (including, without limitation, the laws of the state of New York), if any, pertaining to general releases
after having been advised by its legal counsel with respect thereto. Each Loan Party understands that the facts which they believe
to be true at the time of making the release provided for herein may later turn out to be different than they now believe, and
that information which is not now known or suspected may later be discovered. Each Loan Party accepts this possibility, and each
Loan Party assumes the risk of the facts being different and new information being discovered; and each Loan Party further agrees
that the release provided for herein shall in all respects continue to be effective and not subject to termination or rescission
because of any difference in such facts or any new information</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 11.</TD><TD STYLE="text-align: justify; width: 85%"><U>Severability</U>.
Wherever possible, each provision of this Amendment shall be interpreted in such a manner as to be effective and valid under applicable
law, but if any provision of this Amendment shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions
of this Amendment.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 12.</TD><TD STYLE="text-align: justify; width: 85%"><U>Counterparts</U>. This Amendment
may be executed by one or more of the parties hereto on any number of separate counterparts, each of which shall be deemed an
original and all of which, taken together, shall be deemed to constitute one and the same instrument. Delivery of an executed
counterpart of this Amendment by facsimile or other electronic transmission shall be as effective as delivery of a manually executed
counterpart hereof.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 13.</TD><TD STYLE="text-align: justify; width: 85%"><P STYLE="margin: 0"><U>Lender
                                                                                                              Direction</U>. Each
                                                                                                              of the undersigned
                                                                                                              Lenders hereby directs
                                                                                                              each of the Administrative
                                                                                                              Agent, the Collateral
                                                                                                              Agent and the Accounts
                                                                                                              Bank to execute
                                                                                                              and deliver this
                                                                                                              Amendment and to
                                                                                                              perform its respective
                                                                                                              obligations hereunder.</P>


<U></U></TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 8; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.46
<SEQUENCE>4
<FILENAME>paceth_s1-ex1046.htm
<DESCRIPTION>FIRST AMENDMENT TO CREDIT AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B></B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>Exhibit 10.46</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FIRST AMENDMENT TO
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>CREDIT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">This FIRST AMENDMENT TO CREDIT AGREEMENT
(this &ldquo;<U>Amendment</U>&rdquo;), dated as of <FONT STYLE="text-underline-style: none; color: windowtext">January 4, 2013,
</FONT>is entered into by and among PACIFIC ETHANOL HOLDING CO. LLC, a Delaware limited liability company (&ldquo;<U>Pacific Holding</U>&rdquo;),
PACIFIC ETHANOL MADERA LLC, a Delaware limited liability company (&ldquo;<U>Madera</U>&rdquo;), PACIFIC ETHANOL COLUMBIA, LLC,
a Delaware limited liability company (&ldquo;<U>Boardman</U>&rdquo;), PACIFIC ETHANOL STOCKTON LLC, a Delaware limited liability
company (&ldquo;<U>Stockton</U>&rdquo;), and PACIFIC ETHANOL MAGIC VALLEY, LLC, a Delaware limited liability company (&ldquo;<U>Burley</U>&rdquo;
and, together with Pacific Holding, Madera, Boardman and Stockton, the &ldquo;<U>Borrowers</U>&rdquo;), Pacific Holding, as Borrowers&rsquo;
Agent, <FONT STYLE="text-underline-style: none; color: windowtext">NEW</FONT> PE <FONT STYLE="text-underline-style: none; color: windowtext">HOLDCO
</FONT>LLC, a Delaware limited liability company, as Pledgor (the &ldquo;<U>Pledgor</U>&rdquo;), each of the Lenders, WELLS FARGO
BANK, N.A., as administrative agent for the Lenders (&ldquo;<U>Administrative Agent</U>&rdquo;), WELLS FARGO BANK, N.A., as collateral
agent for the Senior Secured Parties (&ldquo;<U>Collateral Agent</U>&rdquo;) and AMARILLO NATIONAL BANK, as accounts bank (&ldquo;<U>Accounts
Bank</U>&rdquo;). Capitalized terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the
Credit Agreement (as hereinafter defined).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>WHEREAS</B>, Borrowers,
Borrowers&rsquo; Agent, Pledgor, the Lenders party thereto, Administrative Agent, Collateral Agent, Accounts Bank and Credit Suisse
Loan Funding LLC, as syndication agent, entered into that certain Credit Agreement dated as of October 29, 2012 (the &ldquo;<U>Credit
Agreement</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>WHEREAS</B>, Borrowers
and Borrowers&rsquo; Agent have requested, and the Lenders have agreed
to, certain amendments to the Credit Agreement upon the terms and subject to the conditions set forth herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>NOW, THEREFORE</B>,
the parties hereto agree that upon the occurrence of the Amendment Effective Date (as hereinafter defined), the Credit Agreement
is hereby amended as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 1.</TD><TD STYLE="text-align: justify; width: 85%"><U>Amendments to
Credit Agreement</U>. The Credit Agreement is hereby amended to delete the definition of &ldquo;Maturity Date&rdquo; in the Credit
Agreement in its entirety and replaced such definition with the following:</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&ldquo;<U>Maturity
Date</U>&rdquo; means June 25, 2015 or such later date on or prior to June 25, 2016, as may be agreed to in any Maturity Date
Extension.<SUP></SUP></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 2.</TD><TD STYLE="text-align: justify; width: 85%"><U>Consent to Amendment of Senior
Credit Agreement</U>. Each Lender hereby consents to the execution and delivery by each party thereto of the First Amendment to
Second Amended and Restated Credit Agreement of even date herewith and substantially in the form attached hereto as <U>Exhibit
A</U> (the &ldquo;<U>Junior Credit Agreement Amendment</U>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">1</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 3.</TD><TD STYLE="text-align: justify; width: 85%"><U>Payment of Costs
and Fees</U>. Each Borrower (i) reaffirms its obligations under <U>Section 11.07</U> of the Credit Agreement and (ii) without
limiting the provisions set forth in <U>Section 11.07</U> of the Credit Agreement, acknowledges, consents and agrees that it shall
promptly pay, upon receipt of invoices therefor, to the Administrative Agent and each Lender all reasonable out-of-pocket costs,
fees, expenses and charges of every kind in connection with the preparation, negotiation, execution and delivery of this Amendment
incurred by or on behalf of such Persons, including, without limitation, the reasonable fees and disbursements of Sidley Austin
LLP, counsel to certain Lenders.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 4.</TD><TD STYLE="width: 85%"><U>Acknowledgements</U>.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">4.1.</TD><TD STYLE="text-align: justify; width: 79%"><U>Reaffirmation of Obligations</U>. Each Loan Party hereby (a) reaffirms,
                                                           acknowledges, confirms and agrees to its respective guarantees, pledges and grants of security interests and other
                                                           commitments and Obligations under the Financing Documents and (b) confirms and agrees that the Financing Documents and all
                                                           guarantees, pledges and grants of security interests and other commitments and Obligations thereunder shall continue to be in
                                                           full force and effect following the effectiveness of this Amendment. All Obligations under the Credit Agreement and the other
                                                           Financing Documents owing by the Loan Parties to the Administrative Agent, the Collateral Agent, the Accounts Bank and each
                                                           Lender, as the case may be, are unconditionally owing by the Loan Parties to the Administrative Agent, the Collateral Agent
                                                           and each Lender, as the case may be, without offset, defense or counterclaim of any kind, nature or description
                                                           whatsoever.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">4.2.</TD><TD STYLE="text-align: justify; width: 79%"><U>Acknowledgement of Security Interests</U>. Each Loan Party hereby acknowledges, confirms and
agrees that the Collateral Agent, for itself and the benefit of Senior Secured Parties, has and shall continue to have valid, enforceable
and perfected first-priority liens (subject only to Permitted Liens) upon and security interests in the Collateral granted to the
Collateral Agent, for itself and the benefit of Senior Secured Parties, pursuant to the Financing Documents.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">4.3.</TD><TD STYLE="text-align: justify; width: 79%"><U>Binding Effect of Documents</U>. Each Loan Party hereby acknowledges, confirms
                                                           and agrees that: (i) each of the Financing Documents to which it is a party has been duly executed and delivered to the
                                                           Administrative Agent, the Collateral Agent, the Accounts Bank and the Lenders thereto by it, and each is in full force and
                                                           effect as of the Amendment Effective Date, (ii) the agreements and obligations of such Loan Party contained in the Credit
                                                           Agreement as amended by this Amendment (the &ldquo;<U>Amended Credit Agreement</U>&rdquo;), in each of the other Financing
                                                           Documents and in this Amendment constitute the legal, valid and binding obligations of such Loan Party, enforceable against
                                                           such Loan Party in accordance with their respective terms, and such Loan Party has no valid defense to the enforcement of the
                                                           obligations under the Amended Credit Agreement or the other Financing Documents, except as enforceability may be limited by
                                                           bankruptcy, insolvency, moratorium, reorganization or other similar laws limiting creditors rights generally and except as
                                                           enforceability may be limited by general principles of equity (regardless of whether such enforceability is considered in a
                                                           proceeding in equity or at law) and (iii) the Administrative Agent, the Collateral Agent, the Accounts Bank and each Lender
                                                           are and shall be entitled to the rights, remedies and benefits provided for in the Financing Documents and under applicable
                                                           law or at equity.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">2</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 5.</TD><TD STYLE="text-align: justify; width: 85%"><U>Representations and Warranties
of Loan Parties</U>. Each of the Loan Parties hereby represents and warrants in favor of the Administrative Agent, the Collateral
Agent, the Accounts Bank and each Lender as follows:</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.1.</TD><TD STYLE="text-align: justify; width: 79%">The execution, delivery and performance by such Loan Party of this Amendment and the performance
of the Amended Credit Agreement are within such Loan Party&rsquo;s powers and have been duly authorized by all necessary action
on the part of such Loan Party.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.2.</TD><TD STYLE="text-align: justify; width: 79%">This Amendment has been duly executed and delivered by such Loan Party and each of this Amendment,
the Amended Credit Agreement and the other Financing Documents constitutes a legal, valid and binding obligation of such Loan Party
enforceable in accordance with its terms except as enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization
or other similar laws limiting creditors rights generally and except as enforceability may be limited by general principles of
equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.3.</TD><TD STYLE="text-align: justify; width: 79%">The execution, delivery or performance of this Amendment by such Loan Party (i) does not require
any consent or approval of, registration of filing with, or any other action by, any Person (including, without limitation, any
Governmental Authority) except (A) such as have been obtained or made and are in full force and effect and (B) filings necessary
to perfect Liens created by the Financing Documents, (ii) will not violate the organizational or governing documents of any Loan
Party and (iii) will not violate any applicable Law or any Contractual Obligation applicable to or binding upon such Loan Party
or any of their respective properties or assets.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.4.</TD><TD STYLE="text-align: justify; width: 79%">No event has occurred or is continuing, that would constitute a Default or an Event of Default
under the Credit Agreement, the Amended Credit Agreement or any other Financing Document.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.5.</TD><TD STYLE="text-align: justify; width: 79%">As of the Amendment Effective Date no litigation by, investigation known to such
                                                           Loan Party by, or proceeding of, any Governmental Authority is pending or, to the knowledge of such Loan Party, has been
                                                           threatened against such Loan Party which (i) challenges such Loan Party&rsquo;s right, power, or competence to enter into
                                                           this Amendment or perform any of its obligations under this Amendment, the Amended Credit Agreement or any other the
                                                           Financing Documents or the validity or enforceability of this Amendment, the Amended Credit Agreement or any other Financing
                                                           Document or any action taken under this Amendment, the Amended Credit Agreement or any other Financing Document or (ii) is
                                                           reasonably likely, if adversely decided, to have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">3</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">5.6.</TD><TD STYLE="text-align: justify; width: 79%">After giving effect to this Amendment, the representations and warranties of such
                                                           Loan Party contained in the Amended Credit Agreement and the other Financing Documents are true and correct in all material
                                                           respects (provided, that if any representation or warranty is by its terms qualified by concepts of materiality, such
                                                           representation shall be true and correct in all respects) on and as of the Amendment Effective Date with the same effect as
                                                           if such representations and warranties had been made on and as of such date, except that any such representation or warranty
                                                           which is expressly made only as of a specified date need be true only as of such date.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 6.</TD><TD STYLE="text-align: justify; width: 85%"><U>Conditions to
Effectiveness of this Amendment</U>. This Amendment shall become effective as of the first date on or prior to January 15, 2013
on which each of the following conditions has been satisfied (or waived in writing by the Lenders) (the &ldquo;<U>Amendment Effective
Date</U>&rdquo;):</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.1.</TD><TD STYLE="text-align: justify; width: 79%"><U>Amendment</U>. The Administrative Agent shall have received duly executed counterparts of this
Amendment from each Loan Party, each of the Lenders, the Collateral Agent, the Administrative Agent and the Accounts Bank.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.2.</TD><TD STYLE="text-align: justify; width: 79%"><U>Junior Credit Agreement Amendment</U>. The substantially concurrent occurrence of the &ldquo;Amendment
Effective Date&rdquo; as defined in the Junior Credit Agreement Amendment.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.3.</TD><TD STYLE="text-align: justify; width: 79%"><U>Closing under Securities Purchase Agreement</U>. All conditions precedent to the &ldquo;Closing&rdquo;
as defined in the Securities Purchase Agreement, dated as of December 19, 2012 by and among Pacific Ethanol and the investors
party thereto, have been satisfied (other than the occurrence of the &ldquo;Amendment Effective Date&rdquo; as defined in each
of this Amendment and in the Junior Credit Agreement Amendment).</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.4.</TD><TD STYLE="text-align: justify; width: 79%"><U>Costs and Expenses</U>. The Borrowers shall have paid all fees, costs and expenses incurred
in connection with this Amendment and any other Financing Documents that have been invoiced and are required to be paid hereunder
or under the Credit Agreement (including, without limitation, reasonable legal fees and expenses of the Administrative Agent and
each Lender).</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.5.</TD><TD STYLE="text-align: justify; width: 79%"><U>Representations and Warranties</U>. The representations and warranties made or deemed made by
the Loan Parties under this Amendment shall be true and correct (subject to the materiality qualifiers set forth in such representations
and warranties) as of the Amendment Effective Date.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">4</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">6.6.</TD><TD STYLE="text-align: justify; width: 79%"><U>Customary Closing Documents</U>. The Lenders shall have received
such officer&rsquo;s certificates, secretary&rsquo;s certificates, resolutions, lien searches and other customary deliverables
as they shall request.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 0%"></TD><TD STYLE="text-align: justify; width: 85%">Upon satisfaction of the foregoing closing conditions, at the request of
                                                       Borrowers&rsquo; Agent, the Lenders shall promptly provide written confirmation to Borrowers&rsquo; Agent and the
                                                       Administrative Agent of such                                                        satisfaction and
                                                       identify                                                        the Amendment Effective Date.</TD></TR>
</TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 67.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 67.5pt; text-align: justify; text-indent: 0in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 7.</TD><TD STYLE="text-align: justify; width: 85%"><U>Effect on the Financing Documents</U>.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">7.1.</TD><TD STYLE="text-align: justify; width: 79%">Except as  set forth in this Amendment, the Credit Agreement and each of the
                                                           other                                                            Financing Documents shall be and remain unchanged and in
                                                           full force and effect in accordance with their respective terms, are
                                                           hereby ratified and confirmed in all respects and the Administrative Agent, the Collateral Agent, the Accounts Bank and each
                                                           Lender expressly reserves the right to require strict compliance with the terms of the Credit Agreement (and, following the
                                                           Amendment Effective Date, the Amended Credit Agreement) and the other Financing Documents. The execution, delivery, and
                                                           performance of this Amendment shall not operate as a modification or waiver of any right, power, or remedy of any Agent or
                                                           any Lender under the Credit Agreement (and, following the Amendment Effective Date, the Amended Credit Agreement) or any
                                                           other Financing Document and no such action shall be construed as (i) a waiver or forbearance of any of the Administrative
                                                           Agent&rsquo;s, the Collateral Agent&rsquo;s, the Accounts Bank&rsquo;s or the Lenders&rsquo; rights, remedies, and powers
                                                           against the Borrowers, any other Loan Party or the Collateral (including, without limitation, the right to terminate without
                                                           notice the making of Revolving Loans) or (ii) a waiver of any Default or Event of Default. Notwithstanding any provision of
                                                           this Amendment, nothing herein shall adversely affect the rights, remedies, duties, liabilities, obligations and/or
                                                           responsibilities of any Lender that has not consented to the terms hereof to the extent such consent may be required
                                                           pursuant                                                            to the Credit Agreement, including Section 11.01
                                                           thereof.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">7.2.</TD><TD STYLE="text-align: justify; width: 79%">Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to &ldquo;this
Agreement,&rdquo; &ldquo;hereunder,&rdquo; &ldquo;herein,&rdquo; &ldquo;hereof&rdquo; or words of like import referring to the
Credit Agreement, and each reference in the other Financing Documents to &ldquo;the Credit Agreement,&rdquo; &ldquo;thereunder,&rdquo;
&ldquo;therein,&rdquo; &ldquo;thereof&rdquo; or words of like import referring to the Credit Agreement, shall mean and be a reference
to the Credit Agreement as modified by this Amendment.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">5</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD><TD STYLE="width: 6%">7.3.</TD><TD STYLE="text-align: justify; width: 79%">To the extent that any terms and conditions in any of the Financing Documents shall contradict
or be in conflict with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions
are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Credit Agreement as modified hereby
(except to the extent that such contradiction or conflict is expressly permitted by this Amendment).</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 8.</TD><TD STYLE="text-align: justify; width: 85%"><U>Governing Law</U>.
This Amendment shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York, without
regard to conflicts of law principles that would require the application of laws of another jurisdiction.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 9.</TD><TD STYLE="text-align: justify; width: 85%"><U>Financing Document</U>.
This Amendment shall be deemed to be a Financing Document for all purposes.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 10.</TD><TD STYLE="text-align: justify; width: 85%"><U>RELEASE BY LOAN PARTIES</U>. As of the Effective Date, each Loan Party hereby
                                                                  waives, releases, remises and forever discharges the Administrative Agent, the Collateral Agent, the Accounts Bank, each
                                                                  Lender, each of the other Senior Secured Parties, each of their respective Affiliates and each of the officers, directors,
                                                                  employees, and professionals of each Lender, the Administrative Agent, the Collateral Agent, the Accounts Bank and each of
                                                                  the other Senior Secured Parties and their respective Affiliates (collectively, the &ldquo;<U>Releasees</U>&rdquo;), from
                                                                  any                                                                   and all claims, demands, obligations, liabilities,
                                                                  causes of action, damages, losses, costs and expenses of any kind or
                                                                  character, known or unknown, past or present, liquidated or unliquidated, suspected or unsuspected, which such Loan Party
                                                                  ever had from the beginning of the world or now has or that any of the Loan Parties&rsquo; respective successors and assigns
                                                                  hereafter can or may have against any such Releasee which relates, directly or indirectly to the Credit Agreement, any other
                                                                  Financing Document, or to any acts or omissions of any such Releasee relating to the Credit Agreement or any other Financing
                                                                  Document in each case, pertaining to facts, events or circumstances existing on or prior to the date hereof, including,
                                                                  without limitation, the execution and delivery by any and all Releasees of this Amendment, except for the duties and
                                                                  obligations                                                                   expressly
                                                                  set                                                                                                            forth in
                                                                  this                                                                   Amendment,
                                                                  the                                                                                                      Credit
                                                                  Agreement                                                                   and
                                                                  the                                                                                                               other
                                                                  Financing                                                                   Documents (as
                                                                  modified by the                                                                   provisions hereof).
                                                                  As to                                                                                               each and every claim
                                                                  released                                                                         hereunder, each Loan
                                                                  Party                                                                   hereby
                                                                  represents that it has received the                                                                   advice of legal
                                                                  counsel                                                                   with regard to the releases contained herein, and
                                                                  waives the
                                                                  benefits of each provision of applicable federal or state law (including, without limitation, the laws of the state of New
                                                                  York), if any, pertaining to general releases after having been advised by its legal counsel with respect thereto. Each Loan
                                                                  Party understands that the facts which they believe to be true at the time of making the release provided for herein may
                                                                  later turn out to be different than they now believe, and that information which is not now known or suspected may later be
                                                                  discovered. Each Loan Party accepts this possibility, and each Loan Party assumes the risk of the facts being different and
                                                                  new information being discovered; and each Loan Party further agrees that the release provided for herein shall in all
                                                                  respects continue to be effective and not subject to termination or rescission because of any difference in such facts or
                                                                  any                                                                   new information.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">6</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 11.</TD><TD STYLE="text-align: justify; width: 85%"><U>Severability</U>.
Wherever possible, each provision of this Amendment shall be interpreted in such a manner as to be effective and valid under applicable
law, but if any provision of this Amendment shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions
of this Amendment.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 12.</TD><TD STYLE="text-align: justify; width: 85%"><U>Counterparts</U>.
This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, each of which shall
be deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument. Delivery of
an executed counterpart of this Amendment by facsimile or other electronic transmission shall be as effective as delivery of a
manually executed counterpart hereof.</TD></TR></TABLE>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 15%">SECTION 13.</TD><TD STYLE="text-align: justify; width: 85%"><U>.Lender Direction</U>.
                                                                  Each of the undersigned Lenders hereby directs each of the Administrative
                                                                  Agent, the Collateral Agent and the Accounts Bank to execute
                                                                  and deliver this Amendment and to perform its respective obligations
                                                                  hereunder.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>



<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">[Signature pages follow]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">7</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be executed by their respective officers as of the day and year first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">PACIFIC ETHANOL HOLDING CO. LLC, as a Borrower and as Borrowers&rsquo; Agent</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 44%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Chief Operating Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">PACIFIC ETHANOL MADERA LLC, as a Borrower</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Chief Operating Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">PACIFIC ETHANOL COLUMBIA, LLC, as a Borrower</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Chief Operating Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">PACIFIC ETHANOL STOCKTON LLC, as a Borrower</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Chief Operating Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">PACIFIC ETHANOL MAGIC VALLEY, LLC, as a Borrower</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Chief Operating Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>Signature Page to First Amendment
to Priming Credit Agreement</I></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">8</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">NEW PE HOLDCO, LLC, as Pledgor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 44%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Bryon T. McGregor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Chief Operating Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">AMARILLO NATIONAL BANK, as Accounts Bank</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Craig L. Sanders</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Craig L. Sanders</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Executive Vice President</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">WELLS FARGO BANK, N.A., as Administrative Agent and Collateral Agent</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; text-align: left">/s/ Michael Pinzon</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: left">Name: Michael Pinzon</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; text-align: left">Title: Vice President</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>Signature Page to First Amendment
to Priming Credit Agreement</I></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">9</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">CREDIT SUISSE LOAN FUNDING LLC, as  Lender</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 51%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 44%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Michael Wotanowski</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Michael Wotanowski</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Authorized Signatory</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Leigh Dworkin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Leigh Dworkin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left"></TD>
    <TD STYLE="text-align: left">Title: Authorized Signatory</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>Signature Page to First Amendment
to Priming Credit Agreement</I></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">10</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>EXHIBIT A</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Junior Credit Agreement Amendment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

<!-- Field: Page; Sequence: 11; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">11</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.48
<SEQUENCE>5
<FILENAME>paceth_s1-ex1048.htm
<DESCRIPTION>AGREEMENT LETTER
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.48</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pacific Ethanol, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>400 Capitol Mall, Suite 2060</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Sacramento, CA 95814</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: center">December 26, 2012</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">Holders of the Company&rsquo;s<BR>
Series B Preferred Stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Identified on <U>Schedule 1</U> hereto</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">Re:</TD><TD STYLE="text-align: justify; width: 90%"><U>Accrued Dividends</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">This letter agreement
(the <B>&ldquo;Letter Agreement&rdquo;</B>) is provided with respect to certain rights <FONT STYLE="color: black">of the undersigned
holders (collectively, the <B>&ldquo;Holders&rdquo;</B>) of </FONT>shares of <FONT STYLE="color: black">Series B Cumulative Convertible
Preferred Stock, $.001 par value per share (the <B>&ldquo;Series B Preferred Stock&rdquo;</B>), of Pacific Ethanol, Inc. (the &ldquo;<B>Company&rdquo;</B>)
under the Company&rsquo;s Certificate of Designations, Powers, Preferences, and Rights of the Series B Cumulative Convertible Preferred
Stock (the <B>&ldquo;Series B Certificate of Designations&rdquo;</B>).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Series B Certificate of Designations provides
for the payment of quarterly cumulative dividends (&ldquo;<B>Cumulative Dividends</B>&rdquo;) with respect to the Series B Preferred
Stock. From January 1, 2009, through December 31, 2011, the Company did not pay Cumulative Dividends to the Holders. The Company
paid $731,492 of the Cumulative Dividends on August 21, 2012. <B><U>Exhibit A</U></B> attached sets forth the sum of accrued and
unpaid dividends with respect to each Holder as of December 12, 2012 (collectively, the &ldquo;<B>Unpaid Dividends</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">Notwithstanding any
previous agreement between the undersigned and the Company and subject to the terms and conditions set forth herein, each of the
undersigned Holders desires to forbear from exercising rights, if any, held by such Holder with respect to the Unpaid Dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">In consideration of
each Holder&rsquo;s agreement to forbear from exercising its rights, the Company agrees to pay $731,492 of the Unpaid Dividends
as provided below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">In consideration of
the mutual covenants herein contained, and for other valuable consideration the receipt and sufficiency of which is hereby acknowledged,
the parties hereby agree as follows:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Forbearance</U></B>. Subject to the delivery of the Shares in accordance with Paragraph&nbsp;3, each Holder agrees
that until the earlier to occur of (i) June 30, 2014, or (ii) the occurrence of any Forbearance Default (as hereinafter defined)
(the &ldquo;<B>Forbearance Period</B>&rdquo;), each Holder will forbear from exercising any and all of its respective rights and
remedies against the Company with respect to any remaining Unpaid Dividends, including, but not limited to, demanding payment of
any Unpaid Dividends and bringing any action or claim with respect to any Unpaid Dividends.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Holders
of the Company&rsquo;s Series B Preferred Stock</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Page 2</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left; text-indent: 0.5in">2.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Tolling</U></B>. The parties hereto stipulate, covenant, and agree that the running of any and all affirmative defenses
of the Company based on (a) any statutes of limitation, (b) the doctrine of laches, or (c) any failure of the Holders to institute
or commence litigation or other legal proceedings within some specified period, before a specified date, or before the happening
of a specified event, applicable to all claims or causes of action that any Holder may be entitled to take or bring in order to
enforce or otherwise arising out of or relating to their respective rights and remedies against the Company with respect to the
Unpaid Dividends is, to the fullest extent permitted by law, tolled and suspended during the Forbearance Period.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Payment
of Dividend; Delivery of Shares</U></B>. The Company shall pay to each Holder the sum set opposite the Holder&rsquo;s name on
the signature page hereto (the &ldquo;Payment&rdquo;) by issuing and delivering to each such Holder the number of shares (collectively,
the &ldquo;<B>Shares</B>&rdquo;) of the Company&rsquo;s common stock (the &ldquo;<B>Common Stock</B>&rdquo;) equal to the quotient
obtained by dividing (a) the Payment, by (b) $0.34. The offering and issuance of the Shares (the &ldquo;<B>Offering</B>&rdquo;)
are being made pursuant to (a) an effective Registration Statement on Form S-3 (File No. 333-180731) (including the prospectus
contained therein), filed by the Company with the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;), and
(b) a prospectus supplement containing certain supplemental information regarding the terms of the Offering of the Shares, that
will be filed with the Commission on the date hereof and delivered to each Holder (or may available to each Holder by the filing
by the Company of an electronic version thereof with the Commission). On the day that is the third Trading Day after the date
hereof, the Company shall deliver to each Holder that number of Shares set forth opposite such Holder&rsquo;s name on the signature
page hereto through the facilities of the Depository Trust Company&rsquo;s DWAC system. For purposes hereof, the term &ldquo;<B>Trading
Day</B>&rdquo; shall mean any day on which the Common Stock is traded on the principal securities exchange or securities market
on which the Common Stock is then traded.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">4.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Acknowledgment of Non-Payment; Non-Waiver</U></B>. By executing this Letter Agreement, the Company acknowledges and
agrees that, except as expressly provided herein, (a) the Holders&rsquo; rights under the Series B Certificate of Designations
have not been waived by the Holders, and (b) no Holder has made and is not making any commitment, and there is no understanding,
explicit or implicit, relating to, or affecting, any forbearance or any other matter beyond that set forth in this Letter Agreement.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">5.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Full Force and Effect</U></B>. Except as otherwise provided herein, the Series B Certificate of Designations shall
remain unchanged and in full force and effect. Except as expressly set forth above, nothing in this Letter Agreement shall be construed
as a waiver of any rights of any of the parties to this Letter Agreement under the Series B Certificate of Designations.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Holders
of the Company&rsquo;s Series B Preferred Stock</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Page 3</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>


<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left; text-indent: 0.5in">6.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Forbearance Default</U></B>. As used herein, &ldquo;<B>Forbearance Default</B>&rdquo; means any of the following:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: left; text-indent: 0.5in">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company fails to timely perform or observe any requirement of this Letter Agreement or the documents, instruments and agreements
executed in connection herewith;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: left; text-indent: 0.5in">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company fails to pay future Cumulative Dividends on a timely basis in accordance with the Series B Certificate of Designation;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: left; text-indent: 0.5in">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company dissolves, liquidates, winds up, or otherwise ceases its on-going business operations; or</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: left; text-indent: 0.5in">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company (or any subsidiary): (i) makes a transfer in fraud of creditors, or makes an assignment for the benefit of creditors;
(ii) has a receiver, trustee or custodian appointed for, or take possession of, all or substantially all of the assets of the
Company, either in a proceeding brought by such party or in a proceeding brought against such party and such appointment is not
discharged or such possession is not terminated within sixty (60) calendar days after the effective date thereof or such party
consents to or acquiesces in such appointment or possession; (iii) files a petition for relief under any Insolvency Law or an
involuntary petition for relief is filed against such party under any Insolvency Law and such involuntary petition is not dismissed
within sixty (60) calendar days after the filing thereof, or an order for relief naming such party is entered under any Insolvency
Law, or any composition, rearrangement, extension, reorganization or other relief of debtors now or hereafter existing is requested
or consented to by such party; (iv) fails to have discharged within a period of thirty (30) calendar days any attachment, sequestration
or similar writ levied upon any property of such party in an amount exceeding $1,000,000; or (v) fails to pay within thirty (30)
calendar days any final money judgment against such party in an amount exceeding $1,000,000. (For purposes hereof, &ldquo;<B>Insolvency
Law</B>&rdquo; means Title 11 of the United States Code (or any successor law) or any similar applicable law providing for bankruptcy,
insolvency, conservatorship, receivership or other similar debtor&rsquo;s relief.)</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Entire
Agreement</U></B>. This Letter Agreement constitutes the entire agreement between the parties with respect to the subject matter
hereof and supersedes any prior understandings, agreements or representations by or between the parties, written or oral, to the
extent they relate in any way to the subject matter hereof.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Amendments
and Waivers; Severability</U></B>. This Letter Agreement may not be amended or modified, and no provisions hereof may be waived,
without the written consent of the Company and each of the Holders. No action taken pursuant to this Letter Agreement shall be
deemed to constitute a waiver by the party taking such action of compliance with any representation, warranty, covenant or agreement
contained herein. The waiver by any party hereto of a breach of any provision of this Letter Agreement shall not operate or be
construed as a further or continuing waiver of such breach or as a waiver of any other or subsequent breach. No failure on the
part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise of such right, power or remedy by such party preclude any other or further exercise thereof
or the exercise of any other right, power or remedy. All remedies hereunder are cumulative and are not exclusive of any other
remedies provided by law.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Holders
of the Company&rsquo;s Series B Preferred Stock</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Page 4</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>


<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Governing
Law</U></B>. This Letter Agreement shall be governed by, and construed, interpreted and enforced in accordance with, the laws
of the State of Delaware, without giving effect to the principles of conflicts of laws thereunder which would specify the application
of the law of another jurisdiction.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Counterparts</U></B>.
This Letter Agreement may be executed, including by facsimile signature, in one or more counterparts, each of which shall be deemed
an original but all of which together will constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><I>[Signatures Follow.]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in"><I></I></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Holders
of the Company&rsquo;s Series B Preferred Stock</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Page 5</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: justify; text-indent: 0.5in">In witness whereof,
the parties have executed this Letter Agreement as of the first date set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><B>PACIFIC ETHANOL, INC.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Neil M. Koehler</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Neil M. Koehler, Chief Executive Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><B>HOLDERS:&#9;</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>PAYMENT AMOUNT:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Lyles United, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">By: <U>/s/ William Lyles</U><BR>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Will Lyles<BR>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: V.P.</P></TD>
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">$367,068</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>/s/ Frank P. Greinke</U><BR>
        Frank P. Greinke, as Trustee under<BR>
        the Greinke Personal Living Trust</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">$189,656</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>/s/ Robert W. Bollar</U><BR>
        Robert W. Bollar, as Trustee of the<BR>
        Bollar Living Trust</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">$27,009</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>/s/ Mimi S. Taylor</U><BR>
        Mimi S. Taylor</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">$27,009</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>/s/ Neil M. Koehler</U><BR>
        Neil M. Koehler</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">$105,000</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="color: black">[SIGNATURES CONTINUED ON FOLLOWING PAGE]</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Holders
of the Company&rsquo;s Series B Preferred Stock</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: left">Page 6</P>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>/s/ Bill Jones</U><BR>
        Bill Jones</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 46%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">$5,250</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>/s/ Paul P. Koehler</U><BR>
        Paul P. Koehler</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">$5,250</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>/s/ Thomas D. Koehler</U><BR>
        Thomas D. Koehler</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">$5,250</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B><U>Schedule
1</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>Holders of Series B Preferred Stock</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">William M. Lyles IV</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Lyles United, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1210 West Olive Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Fresno, CA 93728</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Frank P. Greinke, Trustee, Greinke Personal Living Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">P.O. Box 4159</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1800 W. Katella, Ste. 400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Orange, CA 92863</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Robert W. Bollar, Trustee, Bollar Living Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">P.O. Box 4159</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1800 W. Katella, Ste. 400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Orange, CA 92863</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Mimi S. Taylor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">P.O. Box 4159</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1800 W. Katella, Ste. 400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Orange, CA 92863</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Neil M. Koehler</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">c/o Pacific Ethanol, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">400 Capitol Mall, Suite 2060</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Sacramento, CA 95814</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">William L. Jones</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">c/o Pacific Ethanol, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">400 Capitol Mall, Suite 2060</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Sacramento, CA 95814</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Paul P. Koehler</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">c/o Pacific Ethanol, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">400 Capitol Mall, Suite 2060</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Sacramento, CA 95814</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Thomas D. Koehler</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">c/o Pacific Ethanol, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">400 Capitol Mall, Suite 2060</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Sacramento, CA 95814</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"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</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 0 12pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B><U>Exhibit
A</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>Unpaid Dividends at December 12, 2012</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding-bottom: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lyles United</FONT></TD>
    <TD STYLE="width: 25%; padding-bottom: 12pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$3,303,615</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Greinke Trust</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,706,907</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Neil Koehler</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">944,999</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bill Jones</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47,248</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Paul Koehler</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47,248</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tom Koehler</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47,248</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bollar Trust</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">243,082</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U STYLE="text-decoration: none">Mimi S. Taylor</U></FONT></TD>
    <TD STYLE="text-decoration: underline; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U STYLE="text-decoration: none">243,082</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: none">&nbsp;</TD>
    <TD STYLE="text-decoration: none; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">TOTAL</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$6,583,429</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<!-- Field: Page; Sequence: 8; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.49
<SEQUENCE>6
<FILENAME>paceth_s1-ex1049.htm
<DESCRIPTION>FIRST AMENDMENT TO PROMISSORY NOTE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.49</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 103.05pt 0pt 107.2pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 103.05pt 0pt 107.2pt; text-align: center"><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B> </B></FONT><B><FONT STYLE="font: 10pt Times New Roman, Times, Serif">FIRST AMENDMENT TO PROMISSORY NOTE</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 44pt"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">THIS
FIRST AMENDMENT TO PROMISSORY NOTE, is entered into as of March 29, 2010, by PACIFIC ETHANOL, INC., a Delaware corporation (&quot;<U>Borrower&quot;</U>)
and NEIL M. KOEHLER or his assigns (&quot;<U>Lender</U>&quot;).</FONT></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 205.55pt 0pt 207.55pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 205.55pt 0pt 207.55pt; text-align: center">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 205.55pt 0pt 207.55pt; text-align: center">RECITALS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.95pt 0pt 42.45pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.45pt; text-align: justify">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower
and Lender entered into that certain Promissory Note dated as of March 30, 2009 in the principal sum of $1,000,000 (the &quot;Note&quot;).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.95pt 0pt 42.45pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.45pt; text-align: justify">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
principal and accrued interest owing under the Note is be due and payable on March 30, 2010 (the &quot;<U>Maturity Date&quot;</U>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.45pt; text-align: justify">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower
and Lender desire to extend the Maturity Date to January 5, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 44pt">NOW
THEREFORE, inconsideration of the foregoing premises, the mutual promises herein and other good and valid consideration, the receipt
and sufficiency of which is hereby acknowledged, Borrower and Lender hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 44pt">1<FONT STYLE="font-size: 10pt">.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Extension
of Maturity</U>. </B>The second sentence of Paragraph 2 of the Note is hereby amended to read in its entirety as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.45pt; text-align: justify">&quot;All principal and
accrued and unpaid interest then owing under this Note shall be due and payable on January 5, 2011 (the &quot;<U>Maturity Date&quot;</U>)
unless the obligations hereunder are earlier accelerated or satisfied in accordance with the provisions of this Note.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 44pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Effect
of Amendment</U>. </B>Except as expressly set forth in this First Amendment to Promissory Note, all of the terms and provisions
of the Note shall remain in full force and effect. The Note, together with the amendment set forth herein, shall be read and construed
as a single agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.45pt; text-align: justify">Borrower and Lender have
executed and delivered this First Amendment to Promissory Note as of the day and year first set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PACIFIC ETHANOL, INC.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">a Delaware corporation</P></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: white 3pt solid">By:</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/&nbsp;Christopher W. Wright</FONT></TD>
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Christopher W. Wright, Vice President</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Neil M. Koehler</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: -2pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NEIL M. KOEHLER</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 219.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 219.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 219.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 219.1pt"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 219.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 219.1pt">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.50
<SEQUENCE>7
<FILENAME>paceth_s1-ex1050.htm
<DESCRIPTION>SECOND AMENDMENT TO PROMISSORY NOTE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<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: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: right"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.50</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 103.05pt 0pt 107.2pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECOND AMENDMENT TO PROMISSORY NOTE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS SECOND AMENDMENT TO PROMISSORY NOTE,
is entered into as of November 5, 2010, by PACIFIC ETHANOL, INC., a Delaware corporation (&ldquo;<U>Borrower</U>&rdquo;) and NEIL
M. KOEHLER or his assigns (&ldquo;<U>Lender</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>RECITALS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender entered into that certain Promissory Note dated as of March 30, 2009 in the principal sum of $1,000,000
(the &ldquo;Note&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender entered into that certain First Amendment to Promissory Note dated as of March 29, 2010 (the &ldquo;First
Amendment&rdquo;), which extended the Maturity Date to January 5, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower desires to pay all accrued interest on the Note, and Borrower and Lender desire to extend the Maturity Date to
March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, inconsideration
of the foregoing premises, the mutual promises herein and other good and valid consideration, the receipt and sufficiency of which
is hereby acknowledged, Borrower and Lender hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Principal and Interest Payments</U></B>. <U>Paragraph 2</U> of the Note is hereby amended to read in its entirety
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="color: black">&ldquo;Simple
interest on the unpaid principal amount hereof shall accrue at a rate per annum equal to eight percent (8.0%), calculated on a
365-day basis. All principal and accrued and unpaid interest then owing under this Note shall be due and payable on </FONT>March
31, 2012 (the &ldquo;<U>Maturity Date</U>&rdquo;) unless the obligations hereunder are earlier accelerated or satisfied in accordance
with the provisions of this Note. All payments by Borrower hereunder shall first apply to accrued and unpaid interest and then
to the remaining principal balance under this Note.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">2.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><B><U>Effect of Amendment</U></B><FONT STYLE="color: black">. Except as expressly set forth in this Second Amendment
to Promissory Note, all of the terms and provisions of the Note shall remain in full force and effect. The Note, together with
the First Amendment and the amendment set forth herein, shall be read and construed as a single agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower and Lender
have executed and delivered this <FONT STYLE="color: black">Second Amendment to Promissory Note</FONT> as of the day and year first
set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PACIFIC ETHANOL, INC.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">a Delaware corporation</P></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: white 3pt solid">By:</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/&nbsp;Bryon T. McGregor</font></TD>
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom">Bryon T. McGregor, Chief Financial Officer</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Neil M. Koehler</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: -2pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NEIL M. KOEHLER</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in"><BR></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.51
<SEQUENCE>8
<FILENAME>paceth_s1-ex1051.htm
<DESCRIPTION>THIRD AMENDMENT TO PROMISSORY NOTE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<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: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.51</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THIRD AMENDMENT TO PROMISSORY NOTE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS THIRD AMENDMENT TO PROMISSORY NOTE,
is entered into as of March 7, 2012, by PACIFIC ETHANOL, INC., a Delaware corporation (&ldquo;<U>Borrower</U>&rdquo;) and NEIL
M. KOEHLER or his assigns (&ldquo;<U>Lender</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>RECITALS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender entered into that certain Promissory Note dated as of March 30, 2009 in the principal sum of $1,000,000
(the &ldquo;Note&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender entered into that certain First Amendment to Promissory Note dated as of March 29, 2010 (the &ldquo;First
Amendment&rdquo;), which extended the Maturity Date to January 5, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender entered into that certain Second Amendment to Promissory Note dated as of November 11, 2011 (the &ldquo;Second
Amendment&rdquo;), which extended the Maturity Date to March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower has paid $250,000 of the principal balance and all accrued interest on the Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">E.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender desire to extend the Maturity Date to March 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, inconsideration
of the foregoing premises, the mutual promises herein and other good and valid consideration, the receipt and sufficiency of which
is hereby acknowledged, Borrower and Lender hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Principal and Interest Payments</U></B>. <U>Paragraph 2</U> of the Note is hereby amended to read in its entirety
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="color: black">&ldquo;Simple
interest on the unpaid principal amount hereof shall accrue at a rate per annum equal to eight percent (8.0%), calculated on a
365-day basis and shall be paid monthly in arrears. All principal and accrued and unpaid interest then owing under this Note shall
be due and payable on </FONT>March 31, 2013 (the &ldquo;<U>Maturity Date</U>&rdquo;) unless the obligations hereunder are earlier
accelerated or satisfied in accordance with the provisions of this Note. All payments by Borrower hereunder shall first apply to
accrued and unpaid interest and then to the remaining principal balance under this Note.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">2.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><B><U>Effect of Amendment</U></B><FONT STYLE="color: black">. Except as expressly set forth in this Third Amendment
to Promissory Note, all of the terms and provisions of the Note shall remain in full force and effect. The Note, together with
the First Amendment, the Second Amendment and the amendment set forth herein, shall be read and construed as a single agreement.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower and Lender
have executed and delivered this <FONT STYLE="color: black">Third Amendment to Promissory Note</FONT> as of the day and year first
set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PACIFIC ETHANOL, INC.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">a Delaware corporation</P></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: white 3pt solid">By:</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/&nbsp;Bryon T. McGregor</font></TD>
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom">Bryon T. McGregor, Chief Financial Officer</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Neil M. Koehler</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: -2pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NEIL M. KOEHLER</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in"><BR></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: left; text-indent: -3in"><BR></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.52
<SEQUENCE>9
<FILENAME>paceth_s1-ex1052.htm
<DESCRIPTION>FOURTH AMENDMENT AMENDMENT TO PROMISSORY NOTE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.52</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOURTH AMENDMENT TO PROMISSORY NOTE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS FOURTH AMENDMENT TO PROMISSORY NOTE,
is entered into as of February 7, 2013, by PACIFIC ETHANOL, INC., a Delaware corporation (&ldquo;<U>Borrower</U>&rdquo;) and NEIL
M. KOEHLER or his assigns (&ldquo;<U>Lender</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>RECITALS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender entered into that certain Promissory Note dated as of March 30, 2009 in the principal sum of $1,000,000
(the &ldquo;Note&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender entered into that certain First Amendment to Promissory Note dated as of March 29, 2010 (the &ldquo;First
Amendment&rdquo;), which extended the Maturity Date to January 5, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender entered into that certain Second Amendment to Promissory Note dated as of November 5, 2010 (the &ldquo;Second
Amendment&rdquo;), which extended the Maturity Date to March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender entered into that certain Third Amendment to Promissory Note dated as of March 7, 2012 (the &ldquo;Third
Amendment&rdquo;), which extended the Maturity Date to March 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">E.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The current principal balance of the Note is $750,000, and interest is being paid on a current basis each month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">F.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Borrower and Lender desire to extend the Maturity Date to March 31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, inconsideration
of the foregoing premises, the mutual promises herein and other good and valid consideration, the receipt and sufficiency of which
is hereby acknowledged, Borrower and Lender hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Principal and Interest Payments</U></B>. <U>Paragraph 2</U> of the Note is hereby amended to read in its entirety
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="color: black">&ldquo;Simple
interest on the unpaid principal amount hereof shall accrue at a rate per annum equal to eight percent (8.0%), calculated on a
365-day basis and shall be paid monthly in arrears. All principal and accrued and unpaid interest then owing under this Note shall
be due and payable on </FONT>March 31, 2014 (the &ldquo;<U>Maturity Date</U>&rdquo;) unless the obligations hereunder are earlier
accelerated or satisfied in accordance with the provisions of this Note. All payments by Borrower hereunder shall first apply to
accrued and unpaid interest and then to the remaining principal balance under this Note.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">2.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><B><U>Effect of Amendment</U></B><FONT STYLE="color: black">. Except as expressly set forth in this Fourth Amendment
to Promissory Note, all of the terms and provisions of the Note shall remain in full force and effect. The Note, together with
the First Amendment, the Second Amendment, the Third Amendment and the amendment set forth herein, shall be read and construed
as a single agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Borrower and
Lender have executed and delivered this <FONT STYLE="color: black"> Fourth Amendment to Promissory Note</FONT> as of the day
and year first set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">PACIFIC ETHANOL, INC.<BR>
a Delaware corporation<BR>
<BR>
</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 39%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: white 3pt solid; text-align: justify">By:</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; text-align: justify">/s/&nbsp;Bryon T. McGregor</TD>
    <TD STYLE="border-bottom: white 3pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: justify">Name: Bryon T. McGregor</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Title: Chief Financial Officer</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">/s/ NEIL M. KOEHLER</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Name: Neil M. Koehler</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Title: President, Chief Executive Officer (principal executive officer) and Director</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21.1
<SEQUENCE>10
<FILENAME>paceth_s1-ex2101.htm
<DESCRIPTION>SUBSIDIARIES
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 5in; text-align: right"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 5in; text-align: right"><B>Exhibit 21.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Subsidiaries of the Registrant</B></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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 44%; text-decoration: underline"><FONT STYLE="font-size: 10pt"><U>Subsidiary Name</U>(*)</FONT></TD>
    <TD STYLE="width: 28%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Names Under Which</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Subsidiary Does Business(**)</U></P></TD>
    <TD STYLE="width: 28%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">State or Jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Incorporation or Organization</U></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Kinergy Marketing, LLC</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Kinergy Marketing</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Oregon</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Pacific Ag Products, LLC</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Pacific Ag Products/PAP</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">California</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Pacific Ethanol Management Services Corp.</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Pacific Ethanol Development, LLC</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">New PE Holdco LLC<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Pacific Ethanol Holding Co LLC<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Pacific Ethanol Columbia, LLC<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Pacific Ethanol Madera LLC<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Pacific Ethanol Magic Valley, LLC<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Pacific Ethanol Stockton LLC<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">                                                                                                                                      <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>(*)</TD><TD>All subsidiaries are wholly-owned by the Registrant unless
otherwise specified by footnote.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>(**)&nbsp;</TD><TD>If different from the name of subsidiary.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>The Registrant holds an 80% ownership interest in New PE Holdco LLC. Pacific Ethanol Holding Co LLC is wholly-owned by New
PE Holdco LLC. Pacific Ethanol Columbia, LLC, Pacific Ethanol Madera LLC, Pacific Ethanol Magic Valley, LLC and Pacific Ethanol
Stockton LLC are wholly-owned by Pacific Ethanol Holding Co LLC.</TD></TR></TABLE>

<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">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>11
<FILENAME>paceth_s1-ex2302.htm
<DESCRIPTION>CONSENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 0; text-align: right"><B></B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 0; text-align: right"><B>Exhibit 23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></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">&nbsp;</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">We consent to the use in this Registration
Statement on Form S-1 of Pacific Ethanol, Inc. of our report dated March 8, 2012, relating to our audits of the consolidated financial
statements, appearing in the Prospectus, which is part of this Registration Statement.</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">We also consent to the reference to our firm
under the caption &ldquo;Experts&rdquo; in such Prospectus.</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/ HEIN &amp; ASSOCIATES LLP</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">Irvine, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 8, 2013</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>image_009.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_009.gif
M1TE&.#EAMP`#`'<`,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E`"'Y
F!`$`````+`$``0"U``$`@`````````(,C(^IR^T/HYRT6E<``#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>13
<FILENAME>peix-20120930.xml
<DESCRIPTION>XBRL INSTANCE FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 3.4b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Source; Value: paceth_s1%2D2013%2D3.xfr; Date: 2013/02/08T21:01:51 -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x800D0000 -->
<xbrli:xbrl xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2012-01-31" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:us-gaap="http://fasb.org/us-gaap/2012-01-31" xmlns:us-roles="http://fasb.org/us-roles/2012-01-31" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:us-types="http://fasb.org/us-types/2012-01-31" xmlns:invest="http://xbrl.sec.gov/invest/2012-01-31" xmlns:peix="http://compsciresources.com/20120930">
    <link:schemaRef xlink:href="peix-20120930.xsd" xlink:type="simple" />
    <xbrli:context id="AsOf2011-12-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2010-12-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2010-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_FairValueInputsLevel1Member_WarrantMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:WarrantMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_FairValueInputsLevel2Member_WarrantMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:WarrantMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_FairValueInputsLevel3Member_WarrantMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:WarrantMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_WarrantMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:WarrantMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_FairValueInputsLevel1Member_CommodityContractsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:CommodityContractsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_FairValueInputsLevel2Member_CommodityContractsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:CommodityContractsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_FairValueInputsLevel3Member_CommodityContractsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:CommodityContractsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_CommodityContractsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:CommodityContractsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_FairValueInputsLevel1Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_FairValueInputsLevel2Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_FairValueInputsLevel1Member_WarrantMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:WarrantMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_FairValueInputsLevel2Member_WarrantMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:WarrantMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_FairValueInputsLevel1Member_CommodityContractsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:CommodityContractsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_FairValueInputsLevel2Member_CommodityContractsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:CommodityContractsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_FairValueInputsLevel3Member_CommodityContractsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:CommodityContractsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_CommodityContractsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:CommodityContractsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_FairValueInputsLevel1Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_FairValueInputsLevel2Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_SeriesAPreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesAPreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_SeriesAPreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesAPreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_SeriesBPreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesBPreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_SeriesBPreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesBPreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-07-01to2012-09-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-07-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-07-01to2011-09-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-07-01</xbrli:startDate>
        <xbrli:endDate>2011-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-09-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-09-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-09-30_NondesignatedMember_CommodityContractMember_CostOfSalesMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:HedgingDesignationAxis">us-gaap:NondesignatedMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:DerivativeInstrumentRiskAxis">us-gaap:CommodityContractMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">us-gaap:CostOfSalesMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-09-30_NondesignatedMember_CommodityContractMember_CostOfSalesMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:HedgingDesignationAxis">us-gaap:NondesignatedMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:DerivativeInstrumentRiskAxis">us-gaap:CommodityContractMember</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">us-gaap:CostOfSalesMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_EthanolMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="peix:SalesCommitmentByCategoryOfItemAxis">peix:EthanolMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_WetDistillersGrainMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="peix:SalesCommitmentByCategoryOfItemAxis">peix:WetDistillersGrainMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_WarrantsIssuedOctober2010Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedOctober2010Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_WarrantsIssuedDecember2011Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedDecember2011Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_WarrantsIssuedOctober2010Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedOctober2010Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_WarrantsIssuedDecember2011Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedDecember2011Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-12-31_WarrantsIssuedOctober2010Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedOctober2010Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-12-31_WarrantsIssuedDecember2011Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedDecember2011Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-09-30_WarrantsIssuedOctober2010Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedOctober2010Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-09-30_WarrantsIssuedDecember2011Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedDecember2011Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-09-30_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_VIEBalanceSheetMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">peix:VIEBalanceSheetMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_VIEBalanceSheetMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">peix:VIEBalanceSheetMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-09-30">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-12-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_KinergyMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">peix:KinergyMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_PlantOwnersMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">peix:PlantOwnersMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-09-30_PlantOwnersMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">peix:PlantOwnersMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-09-30_Warrants1IssuedJuly2012Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:Warrants1IssuedJuly2012Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_Warrants1IssuedJuly2012Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:Warrants1IssuedJuly2012Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-09-30_Warrants2IssuedJuly2012Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:Warrants2IssuedJuly2012Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_Warrants2IssuedJuly2012Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:Warrants2IssuedJuly2012Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-09-30_WarrantsIssuedSeptember2012Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedSeptember2012Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_WarrantsIssuedSeptember2012Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">peix:WarrantsIssuedSeptember2012Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-03-31_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-03-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-06-30_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-06-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_FairValueInputsLevel3Member_WarrantMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:WarrantMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-09-30_WarrantMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FinancialInstrumentAxis">us-gaap:WarrantMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-09-30</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-01-01to2012-03-31_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-01-01</xbrli:startDate>
        <xbrli:endDate>2012-03-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-04-01to2012-06-30_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-04-01</xbrli:startDate>
        <xbrli:endDate>2012-06-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2012-07-01to2012-09-30_FairValueInputsLevel3Member">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2012-07-01</xbrli:startDate>
        <xbrli:endDate>2012-09-30</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2012-11-13">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2012-11-13</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2010-12-31_SeriesBPreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesBPreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2010-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2010-12-31_SeriesAPreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesAPreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2010-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2010-01-01to2010-12-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2010-01-01</xbrli:startDate>
        <xbrli:endDate>2010-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2010-01-01to2010-12-31_PreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2010-01-01</xbrli:startDate>
        <xbrli:endDate>2010-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-12-31_PreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2009-12-31_PreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2009-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2010-12-31_PreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2010-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_PreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:PreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2010-01-01to2010-12-31_CommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2010-01-01</xbrli:startDate>
        <xbrli:endDate>2010-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-12-31_CommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2009-12-31_CommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2009-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2010-12-31_CommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2010-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_CommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2010-01-01to2010-12-31_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2010-01-01</xbrli:startDate>
        <xbrli:endDate>2010-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-12-31_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2009-12-31_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2009-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2010-12-31_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2010-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_AdditionalPaidInCapitalMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2010-01-01to2010-12-31_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2010-01-01</xbrli:startDate>
        <xbrli:endDate>2010-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-12-31_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2009-12-31_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2009-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2010-12-31_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2010-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_RetainedEarningsMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2010-01-01to2010-12-31_NoncontrollingInterestMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2010-01-01</xbrli:startDate>
        <xbrli:endDate>2010-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2011-01-01to2011-12-31_NoncontrollingInterestMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2011-01-01</xbrli:startDate>
        <xbrli:endDate>2011-12-31</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2009-12-31_NoncontrollingInterestMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2009-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2010-12-31_NoncontrollingInterestMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2010-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2011-12-31_NoncontrollingInterestMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2011-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="AsOf2009-12-31">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000778164</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:instant>2009-12-31</xbrli:instant>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
    <xbrli:unit id="Percent">
      <xbrli:measure>xbrli:pure</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Interest">
      <xbrli:measure>peix:Interest</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Gallon">
      <xbrli:measure>peix:gal</xbrli:measure>
    </xbrli:unit>
    <us-gaap:PropertyPlantAndEquipmentNet contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">159617000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">168976000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">153109000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:OtherAssetsCurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">4324000</us-gaap:OtherAssetsCurrent>
    <us-gaap:OtherAssetsCurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">2712000</us-gaap:OtherAssetsCurrent>
    <us-gaap:OtherAssetsCurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">2312000</us-gaap:OtherAssetsCurrent>
    <us-gaap:OtherAssets contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">6111000</us-gaap:OtherAssets>
    <us-gaap:OtherAssets contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">7783000</us-gaap:OtherAssets>
    <us-gaap:OtherAssets contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">5588000</us-gaap:OtherAssets>
    <us-gaap:Assets contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">232476000</us-gaap:Assets>
    <us-gaap:Assets contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">234083000</us-gaap:Assets>
    <us-gaap:Assets contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">227662000</us-gaap:Assets>
    <us-gaap:LiabilitiesCurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">16297000</us-gaap:LiabilitiesCurrent>
    <us-gaap:LiabilitiesCurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">47831000</us-gaap:LiabilitiesCurrent>
    <us-gaap:LiabilitiesCurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">62149000</us-gaap:LiabilitiesCurrent>
    <us-gaap:Liabilities contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">113212000</us-gaap:Liabilities>
    <us-gaap:Liabilities contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">146268000</us-gaap:Liabilities>
    <us-gaap:Liabilities contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">145565000</us-gaap:Liabilities>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">2421000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">6786000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel1Member_WarrantMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel2Member_WarrantMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel3Member_WarrantMember" unitRef="USD" decimals="INF">1921000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_WarrantMember" unitRef="USD" decimals="INF">1921000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel1Member_CommodityContractsMember" unitRef="USD" decimals="INF">500000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel2Member_CommodityContractsMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel3Member_CommodityContractsMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_CommodityContractsMember" unitRef="USD" decimals="INF">500000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel1Member" unitRef="USD" decimals="INF">500000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel2Member" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel3Member" unitRef="USD" decimals="INF">1921000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel1Member_WarrantMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel2Member_WarrantMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel1Member_CommodityContractsMember" unitRef="USD" decimals="INF">291000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel2Member_CommodityContractsMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel3Member_CommodityContractsMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_CommodityContractsMember" unitRef="USD" decimals="INF">291000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel1Member" unitRef="USD" decimals="INF">291000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel2Member" unitRef="USD" xsi:nil="true" />
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel3Member" unitRef="USD" decimals="INF">6495000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel3Member_WarrantMember" unitRef="USD" decimals="INF">6495000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:LiabilitiesFairValueDisclosure contextRef="AsOf2012-09-30_WarrantMember" unitRef="USD" decimals="INF">6495000</us-gaap:LiabilitiesFairValueDisclosure>
    <us-gaap:AccountsReceivableNetCurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">28140000</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:AccountsReceivableNetCurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">25855000</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:AccountsReceivableNetCurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">27513000</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:OtherInventory contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">9239000</us-gaap:OtherInventory>
    <us-gaap:OtherInventory contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">2715000</us-gaap:OtherInventory>
    <us-gaap:OtherInventory contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">6095000</us-gaap:OtherInventory>
    <us-gaap:AssetsCurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">66748000</us-gaap:AssetsCurrent>
    <us-gaap:AssetsCurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">57324000</us-gaap:AssetsCurrent>
    <us-gaap:AssetsCurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">68965000</us-gaap:AssetsCurrent>
    <us-gaap:IntangibleAssetsNetExcludingGoodwill contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">4458000</us-gaap:IntangibleAssetsNetExcludingGoodwill>
    <us-gaap:IntangibleAssetsNetExcludingGoodwill contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">5382000</us-gaap:IntangibleAssetsNetExcludingGoodwill>
    <us-gaap:IntangibleAssetsNetExcludingGoodwill contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">3865000</us-gaap:IntangibleAssetsNetExcludingGoodwill>
    <us-gaap:OtherAssetsNoncurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">1653000</us-gaap:OtherAssetsNoncurrent>
    <us-gaap:OtherAssetsNoncurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">2401000</us-gaap:OtherAssetsNoncurrent>
    <us-gaap:OtherAssetsNoncurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">1723000</us-gaap:OtherAssetsNoncurrent>
    <us-gaap:AccountsPayableCurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">5519000</us-gaap:AccountsPayableCurrent>
    <us-gaap:AccountsPayableCurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">6472000</us-gaap:AccountsPayableCurrent>
    <us-gaap:AccountsPayableCurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">8484000</us-gaap:AccountsPayableCurrent>
    <us-gaap:AccruedLiabilitiesCurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">2713000</us-gaap:AccruedLiabilitiesCurrent>
    <us-gaap:AccruedLiabilitiesCurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">3251000</us-gaap:AccruedLiabilitiesCurrent>
    <us-gaap:AccruedLiabilitiesCurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">3560000</us-gaap:AccruedLiabilitiesCurrent>
    <us-gaap:OtherLiabilitiesNoncurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">1305000</us-gaap:OtherLiabilitiesNoncurrent>
    <us-gaap:OtherLiabilitiesNoncurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">7406000</us-gaap:OtherLiabilitiesNoncurrent>
    <us-gaap:OtherLiabilitiesNoncurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">1348000</us-gaap:OtherLiabilitiesNoncurrent>
    <us-gaap:CommonStockValue contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">87000</us-gaap:CommonStockValue>
    <us-gaap:CommonStockValue contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">13000</us-gaap:CommonStockValue>
    <us-gaap:CommonStockValue contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">145000</us-gaap:CommonStockValue>
    <us-gaap:AdditionalPaidInCapital contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">556871000</us-gaap:AdditionalPaidInCapital>
    <us-gaap:AdditionalPaidInCapital contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">504623000</us-gaap:AdditionalPaidInCapital>
    <us-gaap:AdditionalPaidInCapital contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">581985000</us-gaap:AdditionalPaidInCapital>
    <us-gaap:RetainedEarningsAccumulatedDeficit contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">-509985000</us-gaap:RetainedEarningsAccumulatedDeficit>
    <us-gaap:RetainedEarningsAccumulatedDeficit contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">-511794000</us-gaap:RetainedEarningsAccumulatedDeficit>
    <us-gaap:RetainedEarningsAccumulatedDeficit contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">-524487000</us-gaap:RetainedEarningsAccumulatedDeficit>
    <us-gaap:StockholdersEquity contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">46974000</us-gaap:StockholdersEquity>
    <us-gaap:StockholdersEquity contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">-7157000</us-gaap:StockholdersEquity>
    <us-gaap:StockholdersEquity contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">57644000</us-gaap:StockholdersEquity>
    <us-gaap:MinorityInterestInJointVentures contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">72290000</us-gaap:MinorityInterestInJointVentures>
    <us-gaap:MinorityInterestInJointVentures contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">94972000</us-gaap:MinorityInterestInJointVentures>
    <us-gaap:MinorityInterestInJointVentures contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">24453000</us-gaap:MinorityInterestInJointVentures>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">119264000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">87815000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">82097000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2009-12-31_PreferredStockMember" unitRef="USD" decimals="-3">2000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2010-12-31_PreferredStockMember" unitRef="USD" decimals="-3">1000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2011-12-31_PreferredStockMember" unitRef="USD" decimals="-3">1000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2009-12-31_CommonStockMember" unitRef="USD" decimals="-3">8000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2010-12-31_CommonStockMember" unitRef="USD" decimals="-3">13000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2011-12-31_CommonStockMember" unitRef="USD" decimals="-3">87000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2009-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">480997000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2010-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">504623000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2011-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">556871000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2009-12-31_RetainedEarningsMember" unitRef="USD" decimals="-3">-581076000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2010-12-31_RetainedEarningsMember" unitRef="USD" decimals="-3">-511794000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2011-12-31_RetainedEarningsMember" unitRef="USD" decimals="-3">-509985000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2009-12-31_NoncontrollingInterestMember" unitRef="USD" decimals="-3">42271000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2010-12-31_NoncontrollingInterestMember" unitRef="USD" decimals="-3">94972000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2011-12-31_NoncontrollingInterestMember" unitRef="USD" decimals="-3">72290000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="AsOf2009-12-31" unitRef="USD" decimals="-3">-57798000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:LiabilitiesAndStockholdersEquity contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">232476000</us-gaap:LiabilitiesAndStockholdersEquity>
    <us-gaap:LiabilitiesAndStockholdersEquity contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">234083000</us-gaap:LiabilitiesAndStockholdersEquity>
    <us-gaap:LiabilitiesAndStockholdersEquity contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">227662000</us-gaap:LiabilitiesAndStockholdersEquity>
    <dei:EntityRegistrantName contextRef="From2012-01-01to2012-09-30">Pacific Ethanol, Inc.</dei:EntityRegistrantName>
    <dei:EntityCentralIndexKey contextRef="From2012-01-01to2012-09-30">0000778164</dei:EntityCentralIndexKey>
    <dei:DocumentPeriodEndDate contextRef="From2012-01-01to2012-09-30">2012-09-30</dei:DocumentPeriodEndDate>
    <dei:AmendmentFlag contextRef="From2012-01-01to2012-09-30">false</dei:AmendmentFlag>
    <dei:CurrentFiscalYearEndDate contextRef="From2012-01-01to2012-09-30">--12-31</dei:CurrentFiscalYearEndDate>
    <dei:EntityWellKnownSeasonedIssuer contextRef="From2012-01-01to2012-09-30">No</dei:EntityWellKnownSeasonedIssuer>
    <dei:EntityVoluntaryFilers contextRef="From2012-01-01to2012-09-30">No</dei:EntityVoluntaryFilers>
    <dei:EntityCurrentReportingStatus contextRef="From2012-01-01to2012-09-30">Yes</dei:EntityCurrentReportingStatus>
    <dei:EntityFilerCategory contextRef="From2012-01-01to2012-09-30">Smaller Reporting Company</dei:EntityFilerCategory>
    <dei:DocumentFiscalYearFocus contextRef="From2012-01-01to2012-09-30">2012</dei:DocumentFiscalYearFocus>
    <us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Organization&#13;and Business&lt;/u&gt;&lt;/i&gt; &amp;#150; The consolidated financial statements include the accounts of Pacific Ethanol, Inc., a Delaware corporation&#13;(&amp;#147;Pacific Ethanol&amp;#148;), and its wholly-owned subsidiaries, including Kinergy Marketing LLC, an Oregon limited liability&#13;company (&amp;#147;Kinergy&amp;#148;) and its wholly-owned subsidiary Pacific Ag. Products, LLC, a California limited liability company&#13;(&amp;#147;PAP&amp;#148;) for all periods presented, and for the periods specified below, the Plant Owners (as defined below) (collectively,&#13;the &amp;#147;Company&amp;#148;).&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;The&#13;Company is the leading marketer and producer of low-carbon renewable fuels in the Western United States. The Company also sells&#13;ethanol co-products, including wet distillers grain and syrup (&amp;#147;WDG&amp;#148;), and provides transportation, storage and delivery&#13;of ethanol through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah,&#13;Oregon, Colorado, Idaho and Washington. The Company sells ethanol produced by the Pacific Ethanol Plants (as defined below) and&#13;unrelated third parties to gasoline refining and distribution companies and sells its WDG to dairy operators and animal feed distributors.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;manages the production and operation of the four ethanol production facilities, namely, Pacific Ethanol Madera LLC, Pacific Ethanol&#13;Columbia, LLC, Pacific Ethanol Stockton, LLC and Pacific Ethanol Magic Valley, LLC (collectively, the &amp;#147;Pacific Ethanol Plants&amp;#148;)&#13;and their holding company, Pacific Ethanol Holding Co. LLC (&amp;#147;PEHC,&amp;#148; and together with the Pacific Ethanol Plants,&#13;the &amp;#147;Plant Owners&amp;#148;). PEHC is a wholly-owned subsidiary of New PE Holdco LLC (&amp;#147;New PE Holdco&amp;#148;) which, in&#13;turn, is a subsidiary of the Company. These four facilities have an aggregate annual production capacity of up to 200 million&#13;gallons. As of September 30, 2012, three of the facilities were operating and one of the facilities was idled. When market conditions&#13;permit, and with approval of New PE Holdco, the Company intends to resume operations at the Madera, California facility.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On October&#13;6, 2010, the Company purchased an initial 20% ownership interest in New PE Holdco, a variable interest entity (&amp;#147;VIE&amp;#148;),&#13;from a number of New PE Holdco&amp;#146;s owners. At that time, the Company determined it was the primary beneficiary of New PE Holdco,&#13;and as such, has consolidated the results of New PE Holdco since then. See Note 2 &amp;#150; Variable Interest Entity. On each of&#13;November 29, 2011 and December 19, 2011, the Company purchased an additional 7% ownership interest in New PE Holdco. Further,&#13;on July 13, 2012, the Company purchased an additional 33% ownership interest in New PE Holdco, bringing the Company&amp;#146;s total&#13;ownership interest in New PE Holdco to 67% as of September 30, 2012.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Liquidity&#13;&lt;/u&gt;&lt;/i&gt;&amp;#150; Despite the liquidity risks relative to the Plant Owners&amp;#146; credit facilities, the Company believes that current&#13;and future available capital resources, revenues generated from operations, and other existing sources of liquidity, including&#13;its credit facilities, will be adequate to meet its anticipated working capital and capital expenditure requirements for the next&#13;twelve months. See Note 5 &amp;#150; Debt. If, however, the Company&amp;#146;s capital requirements or cash flow vary materially from&#13;its current projections, or if other unforeseen circumstances occur, such as a lack of significant improvement or further deterioration&#13;of corn crush margins, the Company may require additional financing during that period. The Company&amp;#146;s failure to raise capital,&#13;if needed, could restrict its growth, hinder its ability to compete and adversely impact its operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Basis&#13;of Presentation&lt;/u&gt;&lt;/i&gt;&lt;u&gt;&amp;#150;&lt;i&gt;Interim Financial Statements&lt;/i&gt;&lt;/u&gt;&lt;font style="font-family: Times New Roman, Times, Serif; color: black"&gt;&#13;&lt;/font&gt;&amp;#150; The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance&#13;with accounting principles generally accepted in the United States for interim financial information and the instructions to Form&#13;10-Q and Rule&amp;#160;10-01 of Regulation&amp;#160;S-X. Results for interim periods should not be considered indicative of results for&#13;a full year. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements&#13;for the years ended December 31, 2011 and 2010 and related notes beginning on page F-20 of this prospectus. The accounting policies&#13;used in preparing these consolidated financial statements are the same as those described in Note 1 to such consolidated financial&#13;statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for&#13;a fair statement of the results for interim periods have been included. All significant intercompany accounts and transactions&#13;have been eliminated in consolidation.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Use&#13;of Estimates&lt;/u&gt;&lt;/i&gt; - The preparation of the consolidated financial statements in conformity with accounting principles generally&#13;accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets&#13;and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts&#13;of revenues and expenses during the reporting period. Significant estimates are required as part of determining the consolidation&#13;of VIEs, fair value of convertible notes and warrants, allowance for doubtful accounts, estimated lives of property and equipment&#13;and intangibles, long-lived asset impairments, valuation allowances on deferred income taxes and the potential outcome of future&#13;tax consequences of events recognized in the Company&amp;#146;s financial statements or tax returns. Actual results and outcomes&#13;may materially differ from management&amp;#146;s estimates and assumptions.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Reclassification&#13;&lt;/u&gt;&lt;/i&gt;- Reclassifications of prior year&amp;#146;s data have been made to conform to 2012 classifications. Such classifications&#13;had no effect on net income (loss) reported in the consolidated statements of operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Accounts&#13;Receivable and Allowance for Doubtful Accounts&lt;/u&gt;&lt;/i&gt; &amp;#150; Trade accounts receivable are presented at face value, net of the&#13;allowance for doubtful accounts. The Company sells ethanol to gasoline refining and distribution companies and sells WDG to dairy&#13;operators and animal feed distributors generally without requiring collateral.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process&#13;is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified&#13;number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance&#13;in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has&#13;been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and&#13;the Company&amp;#146;s success in contacting and negotiating with the customer. If the financial condition of the Company&amp;#146;s&#13;customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Of the total&#13;accounts receivable balance, approximately $25,540,000 and $23,715,000 at September 30, 2012 and December 31, 2011, respectively,&#13;were used as collateral under Kinergy&amp;#146;s working capital line of credit. The allowance for doubtful accounts was $9,000 and&#13;$24,000 as of September 30, 2012 and December 31, 2011, respectively. The Company recorded net bad debt recoveries of $15,000&#13;and $185,000 for the nine months ended September 30, 2012 and 2011, respectively.&lt;/font&gt;&lt;/p&gt;</us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
    <us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Organization&#13;and Business&lt;/u&gt;&lt;/i&gt; &amp;#150; The consolidated financial statements include the accounts of Pacific Ethanol, Inc., a Delaware corporation&#13;(&amp;#147;Pacific Ethanol&amp;#148;), and its wholly-owned subsidiaries, including Pacific Ethanol California, Inc., a California corporation&#13;(&amp;#147;PEI California&amp;#148;), Kinergy Marketing, LLC, an Oregon limited liability company (&amp;#147;Kinergy&amp;#148;) and Pacific&#13;Ag. Products, LLC, a California limited liability company (&amp;#147;PAP&amp;#148;) for all periods presented, and for the periods specified&#13;below, New PE Holdco, which owns the Plant Owners (each as defined below) (collectively, the &amp;#147;Company&amp;#148;).&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;is the leading marketer and producer of low carbon renewable fuels in the Western United States. The Company also sells ethanol&#13;co-products, including wet distillers grain (&amp;#147;WDG&amp;#148;), and provides transportation, storage and delivery of ethanol&#13;through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado,&#13;Idaho and Washington. The Company sells ethanol produced by the Pacific Ethanol Plants (as defined below) and unrelated third&#13;parties to gasoline refining and distribution companies and sells its WDG to dairy operators and animal feed distributors.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On May 17,&#13;2009, five indirect wholly-owned subsidiaries of Pacific Ethanol, Inc., namely, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia,&#13;LLC, Pacific Ethanol Stockton, LLC and Pacific Ethanol Magic Valley, LLC (collectively, the &amp;#147;Pacific Ethanol Plants&amp;#148;)&#13;and Pacific Ethanol Holding Co. LLC (together with the Pacific Ethanol Plants, the &amp;#147;Plant Owners&amp;#148;) each filed voluntary&#13;petitions for relief under chapter 11 of Title 11 of the United States Code (the &amp;#147;Bankruptcy Code&amp;#148;) in the United&#13;States Bankruptcy Court for the District of Delaware (the &amp;#147;Bankruptcy Court&amp;#148;) in an effort to restructure their indebtedness&#13;(the &amp;#147;Chapter 11 Filings&amp;#148;). Pacific Ethanol, PEI California, Kinergy and PAP did not, at any time, file for protection&#13;under the Bankruptcy Code.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On June 29,&#13;2010 (the &amp;#147;Effective Date&amp;#148;), the Plant Owners declared effective their amended joint plan of reorganization (the &amp;#147;Plan&amp;#148;)&#13;with the Bankruptcy Court, which was structured in cooperation with certain of the Plant Owners&amp;#146; secured lenders. Under&#13;the Plan, on the Effective Date, 100% of the ownership interests in the Plant Owners were transferred to a newly-formed limited&#13;liability company, New PE Holdco, LLC (&amp;#147;New PE Holdco&amp;#148;) which became at that time wholly-owned by certain prepetition&#13;lenders, resulting in each of the Plant Owners becoming wholly-owned subsidiaries of New PE Holdco.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;manages the production and operation of the Pacific Ethanol Plants. These four facilities have an aggregate annual production&#13;capacity of up to 200 million gallons. As of December 31, 2011, three of the facilities were operating and one of the facilities&#13;was idled. When market conditions permit, and with approval of New PE Holdco, the Company intends to resume operations at the&#13;Madera, California facility.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On October&#13;6, 2010, the Company purchased a 20% ownership interest in New PE Holdco, a variable interest entity (&amp;#147;VIE&amp;#148;), from&#13;a number of New PE Holdco&amp;#146;s owners. At that time, the Company determined it was the primary beneficiary of New PE Holdco,&#13;and as such, has consolidated the results of New PE Holdco since then. See Note 2 &amp;#150; Variable Interest Entities. On each&#13;of November 29, 2011 and December 19, 2011, the Company purchased an additional 7% interest in New PE Holdco, bringing the Company&amp;#146;s&#13;total ownership interest in New PE Holdco to 34%. As of December 31, 2011, the Company held a 34% ownership interest in New PE&#13;Holdco.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Basis&#13;of Presentation&lt;/u&gt;&lt;/i&gt; &amp;#150; The consolidated financial statements and related notes have been prepared in accordance with&#13;accounting principles generally accepted in United States (&amp;#147;GAAP&amp;#148;) and include the accounts of the Company. All significant&#13;intercompany accounts and transactions have been eliminated in consolidation.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Consolidation&#13;of Variable Interest Entities&lt;/u&gt;&lt;/i&gt; &amp;#150; Effective January 1, 2010, the Company adopted the amended guidance in the Financial&#13;Standards Accounting Board&amp;#146;s Accounting Standards Codification 810, &lt;i&gt;Consolidation&lt;/i&gt;, surrounding a company&amp;#146;s&#13;analysis to determine whether any of its variable interests constitute controlling financial interests in a VIE. This analysis&#13;identifies the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (i) the power to&#13;direct the activities of a VIE that most significantly impact the entity&amp;#146;s economic performance, and (ii) the obligation&#13;to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity&#13;that could potentially be significant to the VIE. Additionally, an enterprise is required to assess whether it has an implicit&#13;financial responsibility to ensure that a VIE operates as designed when determining whether it has the power to direct the activities&#13;of the VIE that most significantly impact the entity&amp;#146;s economic performance. The amended guidance also requires ongoing&#13;reassessments of whether an enterprise is the primary beneficiary of a VIE.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Since January&#13;1, 2010, the Company identified Front Range Energy, LLC (&amp;#147;Front Range&amp;#148;), an entity in which the Company held a 42%&#13;ownership interest, and New PE Holdco as VIEs.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Prior to&#13;January 1, 2010, under the original guidance, the Company determined that it must consolidate Front Range, which owns an ethanol&#13;plant located in Windsor, Colorado, with an annual production capacity of up to 50 million gallons. Under the amended guidance,&#13;the Company determined effective January 1, 2010, that it was no longer the primary beneficiary of Front Range and, as a result,&#13;no longer consolidated Front Range&amp;#146;s results and instead recorded its investment in Front Range under the equity method&#13;of accounting. On October 6, 2010, the Company sold its entire 42% ownership interest in Front Range.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On the Effective&#13;Date, the Company determined that New PE Holdco was a VIE, however, the Company did not believe it was New PE Holdco&amp;#146;s primary&#13;beneficiary. On October 6, 2010, upon the Company&amp;#146;s purchase of a 20% interest in New PE Holdco, the Company determined&#13;that it was New PE Holdco&amp;#146;s primary beneficiary and began consolidating the results of New PE Holdco. As long as the Company&#13;is deemed New PE Holdco&amp;#146;s primary beneficiary, the Company must treat New PE Holdco as a consolidated subsidiary for financial&#13;reporting purposes.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Reverse&#13;Stock Split&lt;/u&gt;&lt;/i&gt; &amp;#150; On June 8, 2011, the Company effected a one-for-seven reverse stock split. All share and per share&#13;information has been restated to retroactively show the effect of this stock split.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Liquidity&#13;&lt;/u&gt;&lt;/i&gt;&amp;#150; The Company believes that current and future available capital resources, revenues generated from operations,&#13;and other existing sources of liquidity, including its credit facilities, will be adequate to meet its anticipated working capital&#13;and capital expenditure requirements for at least the next twelve months. If, however, the Company&amp;#146;s capital requirements&#13;or cash flow vary materially from its current projections, if unforeseen circumstances occur, or if the Company requires a significant&#13;amount of cash to fund future acquisitions, the Company may require additional financing. The Company&amp;#146;s failure to raise&#13;capital, if needed, could restrict its growth, or hinder its ability to compete.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Cash&#13;and Cash Equivalents&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company considers all highly-liquid investments with an original maturity of three months&#13;or less to be cash equivalents.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Accounts&#13;Receivable and Allowance for Doubtful Accounts&lt;/u&gt;&lt;/i&gt; &amp;#150; Trade accounts receivable are presented at face value, net of the&#13;allowance for doubtful accounts. The Company sells ethanol to gasoline refining and distribution companies and sells WDG to dairy&#13;operators and animal feed distributors generally without requiring collateral. Due to a limited number of ethanol customers, the&#13;Company had significant concentrations of credit risk from sales of ethanol as of December 31, 2011 and 2010, as described below.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process&#13;is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified&#13;number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance&#13;in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has&#13;been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and&#13;the Company&amp;#146;s success in contacting and negotiating with the customer. If the financial condition of the Company&amp;#146;s&#13;customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Of the accounts&#13;receivable balance, approximately $23,715,000 and $20,977,000 at December 31, 2011 and 2010, respectively, were used as collateral&#13;under Kinergy&amp;#146;s working capital line of credit. The allowance for doubtful accounts was $24,000 and $287,000 as of December&#13;31, 2011 and 2010, respectively. The Company recorded a bad debt recovery of $218,000 and $184,000 for the years ended December&#13;31, 2011 and 2010, respectively. The Company does not have any off-balance sheet credit exposure related to its customers.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Concentrations&#13;of Credit Risk&lt;/u&gt;&lt;/i&gt; &amp;#150; Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties&#13;failed completely to perform as contracted. Concentrations of credit risk, whether on- or off-balance sheet, that arise from financial&#13;instruments exist for groups of customers or counterparties when they have similar economic characteristics that would cause their&#13;ability to meet contractual obligations to be similarly affected by changes in economic or other conditions described below. Financial&#13;instruments that subject the Company to credit risk consist of cash balances maintained in excess of federal depository insurance&#13;limits and accounts receivable, which have no collateral or security. The Company has not experienced any losses in such accounts&#13;and believes that it is not exposed to any significant risk of loss of cash.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;sells fuel-grade ethanol to gasoline refining and distribution companies. The Company had one customer representing 22% and 19%&#13;of total net sales for the years ended December 31, 2011 and 2010, respectively. The Company did not have any other customers&#13;with sales of 10% or more of total net sales.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;had accounts receivable due from this customer totaling $6,267,000 and $6,326,000, representing 22% and 24% of total accounts&#13;receivable as of December 31, 2011 and 2010, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;purchases fuel-grade ethanol and corn, its largest cost component in producing ethanol, from its suppliers. The Company had purchases&#13;from ethanol and corn suppliers representing 10% or more of total purchases by the Company in the purchase and production of ethanol&#13;as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="8" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Years&#13;    Ended December 31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 58%"&gt;&lt;font style="font-size: 8pt"&gt;Supplier A&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 10%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;39&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 8%"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 10%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;31&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 8%"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Supplier B&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;13&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;16&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Supplier C&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;12&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;13&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Inventories&lt;/u&gt;&amp;#160;&lt;/i&gt;&amp;#150;&#13;Inventories consisted primarily of bulk ethanol and unleaded fuel, and are valued at the lower-of-cost-or-market, with cost determined&#13;on a first-in, first-out basis. Inventory balances consisted of the following (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 58%"&gt;&lt;font style="font-size: 8pt"&gt;Finished goods&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 18%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;9,429&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 18%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11,105&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Work in progress&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,284&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,087&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Raw materials&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,334&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,308&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Other&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,084&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;806&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;16,131&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;17,306&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Property&#13;and Equipment&lt;/u&gt;&lt;/i&gt; &amp;#150; Property and equipment are stated at cost. Depreciation is computed using the straight-line method&#13;over the following estimated useful lives:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 63%"&gt;&lt;font style="font-size: 8pt"&gt;Buildings&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 37%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;40 years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Facilities and plant equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;10 &amp;#150; 25 years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Other equipment, vehicles and furniture&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;5 &amp;#150; 10 years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The cost&#13;of normal maintenance and repairs is charged to operations as incurred. Significant capital expenditures that increase the life&#13;of an asset are capitalized and depreciated over the estimated remaining useful life of the asset. The cost of fixed assets sold,&#13;or otherwise disposed of, and the related accumulated depreciation or amortization are removed from the accounts, and any resulting&#13;gains or losses are reflected in current operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Intangible&#13;Assets&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company amortizes intangible assets with definite lives using the straight-line method over their established&#13;lives, generally 2-10 years. Additionally, the Company tests these assets with established lives for impairment if conditions&#13;exist that indicate that carrying values may not be recoverable. Possible conditions leading to the unrecoverability of these&#13;assets include changes in market conditions, changes in future economic conditions or changes in technological feasibility that&#13;impact the Company&amp;#146;s assessments of future operations. If the Company determines that an impairment charge is needed, the&#13;charge will be recorded in selling, general and administrative expenses in the consolidated statements of operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Deferred&#13;Financing Costs&lt;/u&gt;&lt;/i&gt; &amp;#150; Deferred financing costs, which are included in other assets, are costs incurred to obtain debt&#13;financing, including all related fees, and are amortized as interest expense over the term of the related financing using the&#13;straight-line method which approximates the interest rate method. Amortization of deferred financing costs was $651,000 and $1,001,000&#13;for the years ended December 31, 2011 and 2010, respectively. Unamortized deferred financing costs were approximately $1,017,000&#13;at December 31, 2011 and are recorded in other assets in the consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Derivative&#13;Instruments and Hedging Activities&lt;/u&gt;&lt;/i&gt; &amp;#150; Derivative transactions, which can include forward contracts and futures positions&#13;on the New York Mercantile Exchange and the Chicago Board of Trade and interest rate caps and swaps are recorded on the balance&#13;sheet as assets and liabilities based on the derivative&amp;#146;s fair value. Changes in the fair value of derivative contracts&#13;are recognized currently in income unless specific hedge accounting criteria are met. If derivatives meet those criteria, effective&#13;gains and losses are deferred in accumulated other comprehensive income (loss) and later recorded together with the hedged item&#13;in consolidated income (loss). For derivatives designated as a cash flow hedge, the Company formally documents the hedge and assesses&#13;the effectiveness with associated transactions. The Company has designated and documented contracts for the physical delivery&#13;of commodity products to and from counterparties as normal purchases and normal sales.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Revenue&#13;Recognition&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company recognizes revenue when it is realized or realizable and earned. The Company considers&#13;revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales&#13;price is fixed or determinable, and collection is reasonably assured. The Company derives revenue primarily from sales of ethanol&#13;and related co-products. The Company recognizes revenue when title transfers to its customers, which is generally upon the delivery&#13;of these products to a customer&amp;#146;s designated location. These deliveries are made in accordance with sales commitments and&#13;related sales orders entered into with customers either verbally or in written form. The sales commitments and related sales orders&#13;provide quantities, pricing and conditions of sales. In this regard, the Company engages in three basic types of revenue generating&#13;transactions:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60px"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 45px; font-family: Symbol"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#183;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-style: italic"&gt;&lt;font style="font-size: 8pt"&gt;As a producer. Sales as a producer consist of sales of the Company&amp;#146;s&#13;    inventory produced at the Pacific Ethanol Plants.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60px"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 45px; font-family: Symbol"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#183;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-style: italic"&gt;&lt;font style="font-size: 8pt"&gt;As a merchant. Sales as a merchant consist of sales to customers&#13;    through purchases from third-party suppliers in which the Company may or may not obtain physical control of the ethanol or&#13;    co-products, in which shipments are directed from the Company&amp;#146;s suppliers to its terminals or direct to its customers&#13;    but for which the Company accepts the risk of loss in the transactions.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60px"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 45px; font-family: Symbol"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#183;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-style: italic"&gt;&lt;font style="font-size: 8pt"&gt;As an agent. Sales as an agent consist of sales to customers through&#13;    purchases from third-party suppliers in which the risks and rewards of inventory ownership remain with third-party suppliers&#13;    and the Company receives a predetermined service fee under these transactions.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Revenue from&#13;sales of third-party ethanol and co-products is recorded net of costs when the Company is acting as an agent between a customer&#13;and a supplier and gross when the Company is a principal to the transaction. The Company recorded $2,856,000 and $3,043,000 in&#13;net sales when acting as an agent for the years ended December 31, 2011 and 2010, respectively. Several factors are considered&#13;to determine whether the Company is acting as an agent or principal, most notably whether the Company is the primary obligor to&#13;the customer and whether the Company has inventory risk and related risk of loss or whether the Company adds meaningful value&#13;to the supplier&amp;#146;s product or service. Consideration is also given to whether the Company has latitude in establishing the&#13;sales price or has credit risk, or both. When the Company acts as an agent, it recognizes revenue on a net basis or recognizes&#13;its predetermined fees and any associated freight, based upon the amount of net revenues retained in excess of amounts paid to&#13;suppliers.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;records revenues based upon the gross amounts billed to its customers in transactions where the Company acts as a producer or&#13;a merchant and obtains title to ethanol and its co-products and therefore owns the product and any related, unmitigated inventory&#13;risk for the ethanol, regardless of whether the Company actually obtains physical control of the product.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Shipping&#13;and Handling Costs&lt;/u&gt;&lt;/i&gt; &amp;#150; Shipping and handling costs are classified as a component of cost of goods sold in the accompanying&#13;consolidated statements of operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;California&#13;Ethanol Producer Incentive Program&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company is eligible to participate in the California Ethanol Producer Incentive&#13;Program (&amp;#147;CEPIP&amp;#148;) through the Pacific Ethanol Plants located in California. The CEPIP is a program that may provide&#13;funds to an eligible California facility&amp;#151;up to $0.25 per gallon of production&amp;#151;when current production corn crush spreads,&#13;measured as the difference between specified ethanol and corn index prices, drop below $0.55 per gallon. The program may provide&#13;up to $3,000,000 per plant per year of operation through 2014. For any month in which a payment is made by the CEPIP, the Company&#13;may be required to reimburse the funds within the subsequent five years from each payment date, if the corn crush spreads exceed&#13;$1.00 per gallon. Since these funds are provided to subsidize current production costs and encourage eligible facilities to either&#13;continue production or start up production in low margin environments, the Company records the proceeds, if any, as a credit to&#13;cost of goods sold. The Company will assess the likelihood of reimbursement in future periods as corn crush spreads approach $1.00&#13;per gallon. If it becomes likely that amounts may be reimbursable by the Company, the Company will accrue a liability for such&#13;payment and recognize the costs as an increase in cost of goods sold. The Company recorded $1,481,000 and $519,000 as a reduction&#13;to cost of goods sold for the years ended December 31, 2011 and 2010, respectively, in respect of CEPIP payments received. To&#13;date, the Company has not been required to reimburse any amounts, and based on historical corn crush spreads, the Company does&#13;not believe it will be required to make any reimbursements in the foreseeable future.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Stock-Based&#13;Compensation&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company accounts for the cost of employee services received in exchange for the award of equity&#13;instruments based on the fair value of the award, determined on the date of grant. The expense is to be recognized over the period&#13;during which an employee is required to provide services in exchange for the award. The Company estimates forfeitures at the time&#13;of grant and makes revisions, if necessary, in the second quarter of each year if actual forfeitures differ from those estimates.&#13;Based on historical experience, the Company estimated future unvested forfeitures at 5% for the years ended December 31, 2011&#13;and 2010. The Company recognizes stock-based compensation expense as a component of selling, general and administrative expenses&#13;in the consolidated statements of operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Impairment&#13;of Long-Lived Assets&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company assesses the impairment of long-lived assets, including property and equipment&#13;and purchased intangibles subject to amortization, when events or changes in circumstances indicate that the fair value of assets&#13;could be less than their net book value. In such event, the Company assesses long-lived assets for impairment by first determining&#13;the forecasted, undiscounted cash flows the asset is expected to generate plus the net proceeds expected from the sale of the&#13;asset. If this amount is less than the carrying value of the asset, the Company will then determine the fair value of the asset.&#13;An impairment loss would be recognized when the fair value is less than the related asset&amp;#146;s net book value, and an impairment&#13;expense would be recorded in the amount of the difference. Forecasts of future cash flows are judgments based on the Company&amp;#146;s&#13;experience and knowledge of its operations and the industries in which it operates. These forecasts could be significantly affected&#13;by future changes in market conditions, the economic environment, including inflation, and purchasing decisions of the Company&amp;#146;s&#13;customers.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Income&#13;Taxes&lt;/u&gt;&lt;/i&gt; &amp;#150; Income taxes are accounted for under the asset and liability approach, where deferred tax assets and liabilities&#13;are determined based on differences between financial reporting and tax basis of assets and liabilities, and are measured using&#13;enacted tax rates and laws that are expected to be in effect when the differences reverse. Valuation allowances are established&#13;when necessary to reduce deferred tax assets to the amounts expected to be realized.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first&#13;step is to evaluate the tax position for recognition by determining whether it is more likely than not that the position will&#13;be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure&#13;the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. An uncertain tax&#13;position is considered effectively settled on completion of an examination by a taxing authority if certain other conditions are&#13;satisfied. Should the Company incur interest and penalties relating to tax uncertainties, such amounts would be classified as&#13;a component of interest expense, net and other income (expense), net, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Income&#13;Per Share&lt;/u&gt;&lt;/i&gt; &amp;#150; Basic income per share is computed on the basis of the weighted-average number of shares of common stock&#13;outstanding during the period. Preferred dividends are deducted from net income attributed to Pacific Ethanol, Inc. and are considered&#13;in the calculation of income available to common stockholders in computing basic income per share.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The following&#13;tables compute basic and diluted earnings per share (in thousands, except per share data):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Year&#13;    Ended December 31, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Income&#13;        &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Numerator&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Shares&#13;        &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Denominator&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Per-Share&#13;        &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Net income attributed to Pacific Ethanol, Inc.&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,074&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Preferred stock dividends&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,265&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Basic income per share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 58%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Income available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; padding-bottom: 3pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,809&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; padding-bottom: 3pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;33,733&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.05&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;194&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Options&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Diluted income per share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Income available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,809&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;33,984&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.05&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Year&#13;    Ended December 31, 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 3pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; padding-bottom: 1.5pt"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Income&#13;        &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Numerator&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 2.25pt double"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Shares&#13;        &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Denominator&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 2.25pt double"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Per-Share&#13;        &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Net income attributed to Pacific Ethanol, Inc.&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;73,892&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Preferred stock dividends&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(2,847&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Basic income per share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 58%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Income available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; padding-bottom: 3pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;71,045&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; padding-bottom: 3pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;10,514&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6.76&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Convertible notes&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;657&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,524&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Preferred stock dividends&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,847&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,198&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;141&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Diluted income per share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Income available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;74,549&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;13,377&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5.57&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;has accrued and unpaid dividends of $7,315,000, or $0.08 per share of common stock outstanding as of December 31, 2011, in respect&#13;of its Series B Cumulative Convertible Preferred Stock (&amp;#147;Series B Preferred Stock&amp;#148;).&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;There were&#13;an aggregate of 815,000 and 1,666,000 potentially dilutive shares from convertible securities outstanding as of December 31, 2011&#13;and 2010, respectively. These convertible securities were not considered in calculating diluted income per common share for the&#13;years ended December 31, 2011 and 2010, as their effect would be anti-dilutive.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Financial&#13;Instruments&lt;/u&gt;&lt;/i&gt; &amp;#150; The carrying values of cash and cash equivalents, accounts receivable, accounts payable and accrued&#13;liabilities are reasonable estimates of their fair values because of the short maturity of these items. The Company recorded at&#13;fair value its convertible notes and warrants. The Company believes the carrying values of its other notes payable and long-term&#13;debt approximate fair value because the interest rates on these instruments are variable.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Estimates&#13;and Assumptions&lt;/u&gt;&lt;/i&gt; &amp;#150; The preparation of the consolidated financial statements in conformity with GAAP requires management&#13;to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets&#13;and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting&#13;period. Significant estimates are required as part of determining the consolidation of VIEs, fair value of convertible notes and&#13;warrants, allowance for doubtful accounts, estimated lives of property and equipment and intangibles, long-lived asset impairments,&#13;valuation allowances on deferred income taxes and the potential outcome of future tax consequences of events recognized in the&#13;Company&amp;#146;s financial statements or tax returns. Actual results and outcomes may materially differ from management&amp;#146;s&#13;estimates and assumptions.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Subsequent&#13;Events&lt;/u&gt;&lt;/i&gt; &amp;#150; Management evaluates, as of each reporting period, events or transactions that occur after the balance&#13;sheet date through the date that the financial statements are issued for either disclosure or adjustment to the consolidated financial&#13;results. The Company has evaluated subsequent events up through the date of the filing of this report with the Securities and&#13;Exchange Commission.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Reclassifications&#13;&lt;/u&gt;&lt;/i&gt;&amp;#150; Certain prior year amounts have been reclassified to conform to the current presentation. Such reclassification&#13;had no effect on the consolidated net income (loss) reported in the consolidated statements of operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Recent&#13;Accounting Pronouncements&lt;/u&gt;&lt;/i&gt; &amp;#150; On May 12, 2011, the Financial Accounting Standards Board issued Accounting Standards&#13;Update (&amp;#147;ASU&amp;#148;) No. 2011-04, &lt;i&gt;Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement&#13;and Disclosure Requirements in U.S. GAAP and IFRS&lt;/i&gt;. ASU No. 2011-04 was issued concurrently with International Financial Reporting&#13;Standards (&amp;#147;IFRS&amp;#148;) 13 &lt;i&gt;Fair Value Measurements&lt;/i&gt;, to provide largely identical guidance about fair value measurement&#13;and disclosure requirements. The new standards do not extend the use of fair value but, rather, provide guidance about how fair&#13;value should be applied where it already is required or permitted under IFRS or U.S. GAAP. This standard is effective prospectively&#13;for interim and annual periods beginning after December 15, 2011. The Company does not expect the adoption of this standard to&#13;have a material effect on the Company&amp;#146;s consolidated financial position, results of operations or cash flows.&lt;/font&gt;&lt;/p&gt;</us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
    <peix:VariableInterestEntityTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;concluded that at all times since New PE Holdco&amp;#146;s inception, New PE Holdco has been a VIE because the other owners of New&#13;PE Holdco, due to the Company&amp;#146;s involvement through its contractual arrangements, have at all times lacked the power to&#13;direct the activities that most significantly impacted its economic performance. Some of these activities include efficient management&#13;and operation of the Pacific Ethanol Plants, sale of ethanol, the procurement of feedstock, sale of co-products and implementation&#13;of risk management strategies. Furthermore, upon the Company&amp;#146;s purchase of its initial 20% ownership interest in New PE&#13;Holdco on October 6, 2010, the Company, through its ownership interest, had an obligation to absorb losses and receive benefits&#13;that could potentially be significant to New PE Holdco. As a result, the Company then became the primary beneficiary of New PE&#13;Holdco and began consolidating the financial results of New PE Holdco. On November 29, 2011, the Company purchased an additional&#13;7% ownership interest in New PE Holdco for $4,502,000 in cash. On December 19, 2011, the Company purchased another 7% ownership&#13;interest in New PE Holdco for $4,615,000 in cash.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On July 13,&#13;2012, the Company purchased an additional 33% ownership interest in New PE Holdco for $20,000,000 by paying $10,000,000 in cash&#13;and issuing $10,000,000 in notes payable. Because the Company has a controlling financial interest in New PE Holdco, it did not&#13;record any gain or loss on this purchase, but instead reduced the amount of the noncontrolling interest in VIE on its consolidated&#13;balance sheet by $27,646,000 and recorded the difference between the fair value of the purchase and the price paid by the Company&#13;of $7,646,000, to additional paid-in capital.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Upon the&#13;closing of the Company&amp;#146;s purchase of the additional 33% ownership interest, its total ownership interest in New PE Holdco&#13;increased from 34% to 67%. Because New PE Holdco&amp;#146;s results are consolidated with the Company&amp;#146;s for financial reporting&#13;purposes, the acquisition of additional interests in New PE Holdco did not impact the consolidated net income or loss that the&#13;Company reports. However, the portion of New PE Holdco&amp;#146;s net income or loss that is allocated to the Company increased from&#13;34% to 67%, thus changing the net income or loss attributable to Pacific Ethanol after reducing the net income or loss attributable&#13;to the noncontrolling interests and the Company&amp;#146;s earnings per share. For the nine months ended September 30, 2012 and 2011,&#13;had the Company held a 67% ownership interest in New PE Holdco and issued 28,000,000 shares of common stock under the financing&#13;noted above, the Company&amp;#146;s reported results would have had the following proforma impact for the nine months ended September&#13;30, 2012 and 2011, net loss available to common stockholders would have been $23,288,000 and $1,311,000, respectively, and loss&#13;per share would have been $0.21 and $0.03, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The carrying&#13;values and classification of assets that are collateral for the obligations of New PE Holdco consisted of the following (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;September 30, 2012&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December 31, 2011&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 46%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Cash and cash equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 13%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;92&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 13%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,070&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Other current assets&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;13,368&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;14,320&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Property and equipment&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;148,390&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;155,523&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Other assets&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,368&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,693&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt"&gt;&lt;font style="font-size: 8pt"&gt;Total assets&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;163,218&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;173,606&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&#13;&#13;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 46%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Current liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 13%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,063&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 13%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,064&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Long-term debt, including current portion&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;91,186&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;73,256&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Other liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;195&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;158&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt"&gt;&lt;font style="font-size: 8pt"&gt;Total liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;97,444&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;76,478&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&amp;#146;s&#13;acquisition of its ownership interest in New PE Holdco does not impact the Company&amp;#146;s rights or obligations under any of&#13;its contractual agreements. Further, creditors of New PE Holdco do not have recourse to the Company. Since its initial acquisition,&#13;the Company has not provided any additional support to New PE Holdco beyond the terms of its contractual agreements.&lt;/font&gt;&lt;/p&gt;</peix:VariableInterestEntityTextBlock>
    <peix:VariableInterestEntityTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Consolidation&#13;of New PE Holdco&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company concluded that at all times since its inception, New PE Holdco has been a VIE because&#13;the owners of New PE Holdco, due to the Company&amp;#146;s involvement through the contractual arrangements discussed below, have&#13;at all times lacked the power to direct the activities that most significantly impacted its economic performance. Some of these&#13;activities include efficient management and operation of the Pacific Ethanol Plants, sale of ethanol, the procurement of feedstock,&#13;sale of co-products and implementation of risk management strategies. At the time of its inception, however, the Company did not&#13;have an obligation to absorb losses or receive benefits that could potentially be significant to New PE Holdco and, as a result,&#13;it was determined that the Company was not New PE Holdco&amp;#146;s primary beneficiary. Upon the Company&amp;#146;s purchase of its&#13;20% ownership interest in New PE Holdco on October 6, 2010, the Company, through its ownership interest, had an obligation to&#13;absorb losses and receive benefits that could potentially be significant to New PE Holdco. As a result, the Company then became&#13;the primary beneficiary of New PE Holdco and began consolidating the financial results of New PE Holdco. The Company purchased&#13;its 20% ownership interest in New PE Holdco from a number of New PE Holdco&amp;#146;s owners. The Company paid $23,280,000 in cash&#13;for its 20% interest, which was approximately $1,566,000 below the fair value of New PE Holdco, which was recognized as a bargain&#13;purchase in other income (expense), net, in the consolidated statements of operations for the year ended December 31, 2010. The&#13;bargain purchase was determined based on the fair value of the net assets of New PE Holdco, using a combination of market data&#13;and the income approach. The Company allocated fair value to both its investment and its noncontrolling interest in the VIE.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The following&#13;table summarizes the Company&amp;#146;s estimated fair values of New PE Holdco&amp;#146;s tangible and intangible assets and liabilities&#13;acquired (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 86%"&gt;&lt;font style="font-size: 8pt"&gt;Cash&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,786&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Other current assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;20,336&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Property and equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;170,486&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Other assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,195&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Tradename&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;800&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Total Assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;196,603&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Total current liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(8,522&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Long term debt&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(51,279&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Other noncurrent liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(12,575&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Total Liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(72,376&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Noncontrolling interest in variable interest entity&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(99,381&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Net Assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;24,846&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On November&#13;29, 2011, the Company purchased an additional 7% ownership interest in New PE Holdco for $4,502,000 in cash. On December 19, 2011,&#13;the Company purchased another 7% ownership interest in New PE Holdco for $4,615,000 in cash. Because the Company has a controlling&#13;financial interest in New PE Holdco, it did not record any gain or loss on these purchases, but instead reduced the amount of&#13;noncontrolling interest in VIEs on the consolidated balance sheets by an aggregate $15,585,000 and recorded the difference of&#13;$6,468,000, which represents the fair value of these purchases above the price paid by the Company, to additional paid-in capital&#13;on the consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Since the&#13;Company&amp;#146;s original purchase of its 20% interest in New PE Holdco, the Company has recognized approximately $512,497,000&#13;and $72,827,000 in net sales and $6,226,000 in net income and $5,727,000 in net losses attributed to New PE Holdco for the years&#13;ended December 31, 2011 and 2010, respectively. The Company owned the Plant Owners and consolidated their results for the first&#13;half of 2010, resulting in the Company reporting the results of the Plant Owners for three of the four fiscal quarters in 2010.&#13;For the year ended December 31, 2010, the Company reported net sales of $328,332,000 and net income of $73,892,000 attributed&#13;to Pacific Ethanol. Had the Company consolidated the results of New PE Holdco for all of 2010, the Company would have reported&#13;net sales of approximately $383,956,000 and net income of $70,330,000 attributed to Pacific Ethanol. Because the Plant Owners&#13;were consolidated with the Company&amp;#146;s results for all of 2011, there are no differences with the Company&amp;#146;s reported&#13;results for that year.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&amp;#146;s&#13;acquisition of its ownership interest in New PE Holdco does not impact the Company&amp;#146;s rights or obligations under any of&#13;the agreements described below. Further, creditors of New PE Holdco do not have recourse to the Company. Since its acquisition,&#13;the Company has not provided any additional support to New PE Holdco beyond the terms of the agreements described below.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company,&#13;directly or through one of its subsidiaries, has entered into the management and marketing agreements described below.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Asset&#13;Management Agreement&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company entered into an Asset Management Agreement (&amp;#147;AMA&amp;#148;) with the Plant&#13;Owners under which the Company agreed to operate and maintain the Pacific Ethanol Plants on behalf of the Plant Owners. These&#13;services generally include, but are not limited to, administering the Plant Owners&amp;#146; compliance with their credit agreements&#13;and performing billing, collection, record keeping and other administrative and ministerial tasks. The Company agreed to supply&#13;all labor and personnel required to perform its services under the AMA, including the labor and personnel required to operate&#13;and maintain the production facilities.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The costs&#13;and expenses associated with the Company&amp;#146;s provision of services under the AMA are prefunded by the Plant Owners under a&#13;preapproved budget. The Company&amp;#146;s obligation to provide services is limited to the extent there are sufficient funds advanced&#13;by the Plant Owners to cover the associated costs and expenses.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;As compensation&#13;for providing the services under the AMA, the Company is paid $75,000 per month for each production facility that is operational&#13;and $40,000 per month for each production facility that is idled. In addition to the monthly fee, if during any six-month period&#13;(measured on September 30 and March 31 of each year commencing March 31, 2011) a production facility has annualized earnings before&#13;interest, income taxes, depreciation and amortization (&amp;#147;EBITDA&amp;#148;) per gallon of operating capacity of $0.20 or more,&#13;the Company will be paid a performance bonus equal to 3% of the increment by which EBITDA exceeds such amount. The aggregate performance&#13;bonus for all plants is capped at $2.2 million for each six-month period. The performance bonus is to be reduced by 25% if all&#13;production facilities then operating do not operate at a minimum average yield of 2.70 gallons of denatured ethanol per bushel&#13;of corn. In addition, no performance bonus is to be paid if there is a default or event of default under the Plant Owners&amp;#146;&#13;credit agreement resulting from their failure to pay any amounts then due and owing. The AMA also provides the Company with an&#13;incentive fee upon any sale of a production facility to the extent the sales price is above $0.60 per gallon of annual capacity.&#13;To date, no such bonuses have been earned by the Company.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The AMA had&#13;an initial term of six months and successive six-month renewal periods at the option of the Plant Owners. In addition to typical&#13;conditions for a party to terminate the agreement prior to its expiration, the Company may terminate the AMA, and the Plant Owners&#13;may terminate the AMA with respect to any facility, at any time by providing at least 60 days prior notice of such termination.&#13;On June 30, 2011, the AMA was amended and extended for one year.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;recorded revenues and New PE Holdco recorded costs of approximately $3,468,000 and $778,000, related to the AMA for the years&#13;ended December 31, 2011 and 2010, respectively, during which New PE Holdco&amp;#146;s financial results were consolidated with the&#13;Company&amp;#146;s financial results. As such, these amounts have been eliminated upon consolidation.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Ethanol&#13;Marketing Agreements&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company entered into separate ethanol marketing agreements with each of the three Plant&#13;Owners whose facilities are operating, which granted it the exclusive right to purchase, market and sell the ethanol produced&#13;at those facilities. Under the terms of the ethanol marketing agreements, within ten days after delivering ethanol to the Company,&#13;an amount is paid to the Company equal to (i) the estimated purchase price payable by the third-party purchaser of the ethanol,&#13;minus (ii) the estimated amount of transportation costs to be incurred, minus (iii) the estimated incentive fee payable to the&#13;Company, which equals 1% of the aggregate third-party purchase price. Each of the ethanol marketing agreements had an initial&#13;term of one year and successive one year renewal periods at the option of the individual Plant Owner. On June 30, 2011, all ethanol&#13;marketing agreements were amended and extended for one year. In addition, the price to be paid was amended to include a marketing&#13;fee collar of not less than $0.015 per gallon and not more than $0.0225 per gallon.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;recorded revenues and New PE Holdco recorded costs of approximately $3,708,000 and $623,000 related to the ethanol marketing agreements&#13;for the years ended December 31, 2011 and 2010, respectively, for the period during which New PE Holdco was consolidated with&#13;the Company. These amounts were eliminated upon consolidation.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Corn&#13;Procurement and Handling Agreements&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company entered into separate corn procurement and handling agreements&#13;with each of the three Plant Owners whose facilities are operating. Under the terms of the corn procurement and handling agreements,&#13;each facility appointed the Company as its exclusive agent to solicit, negotiate, enter into and administer, on its behalf, corn&#13;supply arrangements to procure the corn necessary to operate its facility. The Company also provides grain handling services including,&#13;but not limited to, receiving, unloading and conveying corn into the facility&amp;#146;s storage and, in the case of whole corn delivered,&#13;processing and hammering the whole corn.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;was to receive a fee of $0.50 per ton of corn delivered to each facility as consideration for its procurement services and a fee&#13;of $1.50 per ton of corn delivered as consideration for its grain handling services, each payable monthly. The Company agreed&#13;to enter into an agreement guaranteeing the performance of its obligations under the corn procurement and handling agreement upon&#13;the request of a Plant Owner. Each corn procurement and handling agreement had an initial term of one year and successive one&#13;year renewal periods at the option of the individual Plant Owner. On June 30, 2011, all corn procurement and handling agreements&#13;were amended and extended for one year. In addition, the corn procurement and handling fee was changed to $0.045 per bushel of&#13;corn.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;recorded revenues and New PE Holdco recorded costs of approximately $2,758,000 and $571,000, related to the corn procurement and&#13;handling agreements for the years ended December 31, 2011 and 2010, respectively, for the period during which New PE Holdco was&#13;consolidated with the Company. These amounts were eliminated upon consolidation.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Distillers&#13;Grains Marketing Agreements&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company entered into separate distillers grains marketing agreements with each&#13;of the three Plant Owners whose facilities are operating, which grant the Company the exclusive right to market, purchase and&#13;sell the WDG produced at each facility. Under the terms of the distillers grains marketing agreements, within ten days after a&#13;Plant Owner delivers WDG to the Company, the Plant Owner is paid an amount equal to (i) the estimated purchase price payable by&#13;the third-party purchaser of the WDG, minus (ii) the estimated amount of transportation costs to be incurred, minus (iii) the&#13;estimated amount of fees and taxes payable to governmental authorities in connection with the tonnage of WDG produced or marketed,&#13;minus (iv) the estimated incentive fee payable to the Company, which equals the greater of (a) 5% of the aggregate third-party&#13;purchase price, and (b) $2.00 for each ton of WDG sold in the transaction. Each distillers grains marketing agreement had an initial&#13;term of one year and successive one year renewal periods at the option of the individual Plant Owner. On June 30, 2011, all distillers&#13;grains marketing agreements were amended and extended for one year. In addition, the fee to be paid to the Company was amended&#13;to include a collar of not less than $2.00 per ton and not more than $3.50 per ton.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;recorded revenues and New PE Holdco recorded costs of approximately $4,797,000 and $700,000, related to the distillers grain marketing&#13;agreements for the years ended December 31, 2011 and 2010, respectively, for the period which New PE Holdco was consolidated with&#13;the Company. These amounts were eliminated upon consolidation.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Assets&#13;and Liabilities of New PE Holdco&lt;/u&gt;&lt;/i&gt; &amp;#150; The carrying values and classification of assets that are collateral for the&#13;obligations of New PE Holdco at December 31, 2011 were as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 86%"&gt;&lt;font style="font-size: 8pt"&gt;Cash and cash equivalents&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,070&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Other current assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;14,320&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Property and equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;155,523&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Other assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,693&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Total assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;173,606&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 86%"&gt;&lt;font style="font-size: 8pt"&gt;Current liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,064&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Long-term debt&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;73,256&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Other liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;158&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Total liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;76,478&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Deconsolidation&#13;and Sale of Front Range&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company purchased a 42% ownership interest in Front Range on October 17, 2006. Upon&#13;initial acquisition of the 42% interest in Front Range, the Company determined that it was Front Range&amp;#146;s primary beneficiary,&#13;and from that point consolidated the financial results of Front Range. Effective January 1, 2010, the Company determined that&#13;it was no longer the primary beneficiary of Front Range and deconsolidated the financial results of Front Range. In making this&#13;conclusion, the Company determined that the Company did not have the power to direct the activities of Front Range that most significantly&#13;impacted its economic performance. Some of these activities included efficient management and operation of its facility, ethanol&#13;sales, procurement of feedstock, sale of co-products and implementation of risk management strategies. Upon deconsolidation, the&#13;Company removed $62,617,000 of assets and $18,584,000 of liabilities from the consolidated balance sheets and recorded a cumulative&#13;debit adjustment to retained earnings of $1,763,000.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Effective&#13;January 1, 2010, the Company accounted for its investment in Front Range under the equity method, with equity earnings recorded&#13;in other income (expense), net in the consolidated statements of operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Sale&#13;of Front Range&lt;/u&gt;&lt;/i&gt; &amp;#150; On October 6, 2010, the Company sold its entire 42% ownership interest in Front Range for $18,500,000&#13;in cash, resulting in a loss of $12,146,000.&lt;/font&gt;&lt;/p&gt;</peix:VariableInterestEntityTextBlock>
    <us-gaap:InventoryDisclosureTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Inventories consisted&#13;primarily of bulk ethanol and unleaded fuel, and are valued at the lower-of-cost-or-market, with cost determined on a first-in,&#13;first-out basis. Inventory balances consisted of the following (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;September&#13;    30, 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;    31, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 60%; text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;Finished goods&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;8,089&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;9,429&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;Work in progress&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;4,164&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;4,284&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;Raw materials&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;1,273&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;1,334&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;Other&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;848&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,084&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; padding-left: 22pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;14,374&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;16,131&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt; background-color: white"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;</us-gaap:InventoryDisclosureTextBlock>
    <us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The business&#13;and activities of the Company expose it to a variety of market risks, including risks related to changes in commodity prices and&#13;interest rates. The Company monitors and manages these financial exposures as an integral part of its risk management program.&#13;This program recognizes the unpredictability of financial markets and seeks to reduce the potentially adverse effects that market&#13;volatility could have on operating results.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Commodity&#13;Risk&lt;/u&gt;&lt;/i&gt;&lt;u&gt; &amp;#150; &lt;i&gt;Cash Flow Hedges&lt;/i&gt;&lt;/u&gt; &amp;#150; The Company uses derivative instruments to protect cash flows from&#13;fluctuations caused by volatility in commodity prices for periods of up to twelve months in order to protect gross profit margins&#13;from potentially adverse effects of market and price volatility on ethanol sale and purchase commitments where the prices are&#13;set at a future date and/or if the contracts specify a floating or index-based price for ethanol. In addition, the Company hedges&#13;anticipated sales of ethanol to minimize its exposure to the potentially adverse effects of price volatility. These derivatives&#13;may be designated and documented as cash flow hedges and effectiveness is evaluated by assessing the probability of the anticipated&#13;transactions and regressing commodity futures prices against the Company&amp;#146;s purchase and sales prices. Ineffectiveness, which&#13;is defined as the degree to which the derivative does not offset the underlying exposure, is recognized immediately in cost of&#13;goods sold. For the nine months ended September 30, 2012 and 2011, the Company did not designate any of its derivatives as cash&#13;flow hedges.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Commodity&#13;Risk &amp;#150; Non-Designated Hedges&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company uses derivative instruments to lock in prices for certain amounts&#13;of corn and ethanol by entering into forward contracts for those commodities. These derivatives are not designated for special&#13;hedge accounting treatment. The changes in fair value of these contracts are recorded on the balance sheet and recognized immediately&#13;in cost of goods sold. The Company recognized gains of $202,000 and $334,000 as the change in the fair value of these contracts&#13;for the nine months ended September 30, 2012 and 2011, respectively. The notional balances remaining on these contracts were $24,102,000&#13;and $9,186,000 as of September 30, 2012 and December 31, 2011, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Non-Designated&#13;Derivative Instruments &lt;/u&gt;&lt;/i&gt;&amp;#150; The Company classified its derivative instruments not designated as hedging instruments&#13;of $514,000 and $291,000 in other assets and accrued liabilities as of September 30, 2012, respectively, and $244,000 and $500,000&#13;in other assets and accrued liabilities as of December 31, 2011, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The classification&#13;and amounts of the Company&amp;#146;s recognized gains (losses) for its derivatives not designated as hedging instruments are as&#13;follow (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Realized Gains&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Nine Months Ended&#13;    September 30,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Type of Instrument&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Statements of Operations Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: rgb(238,238,238); vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 30%"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 35%"&gt;&lt;font style="font-size: 8pt"&gt;Cost of goods sold&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 11%"&gt;&lt;font style="font-size: 8pt"&gt;277&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 11%"&gt;&lt;font style="font-size: 8pt"&gt;460&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; width: 1%"&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Nine Months Ended&#13;    September 30,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Type of Instrument&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Statements of Operations Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: rgb(238,238,238); vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 30%"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 35%"&gt;&lt;font style="font-size: 8pt"&gt;Cost of goods sold&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: right; width: 11%"&gt;&lt;font style="font-size: 8pt"&gt;(479&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: right; width: 11%"&gt;&lt;font style="font-size: 8pt"&gt;(126&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&#13;&lt;/table&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt; background-color: white"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock>
    <us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The business&#13;and activities of the Company expose it to a variety of market risks, including risks related to changes in commodity prices and&#13;interest rates. The Company monitors and manages these financial exposures as an integral part of its risk management program.&#13;This program recognizes the unpredictability of financial markets and seeks to reduce the potentially adverse effects that market&#13;volatility could have on operating results.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Commodity&#13;Risk&lt;/u&gt;&lt;/i&gt;&lt;u&gt; &amp;#150; &lt;i&gt;Cash Flow Hedges&lt;/i&gt;&lt;/u&gt; &amp;#150; The Company uses derivative instruments to protect cash flows from&#13;fluctuations caused by volatility in commodity prices for periods of up to twelve months in order to protect gross profit margins&#13;from potentially adverse effects of market and price volatility on ethanol sale and purchase commitments where the prices are&#13;set at a future date and/or if the contracts specify a floating or index-based price for ethanol. In addition, the Company hedges&#13;anticipated sales of ethanol to minimize its exposure to the potentially adverse effects of price volatility. These derivatives&#13;may be designated and documented as cash flow hedges and effectiveness is evaluated by assessing the probability of the anticipated&#13;transactions and regressing commodity futures prices against the Company&amp;#146;s purchase and sales prices. Ineffectiveness, which&#13;is defined as the degree to which the derivative does not offset the underlying exposure, is recognized immediately in cost of&#13;goods sold. For the years ended December 31, 2011 and 2010, the Company did not designate any of its derivatives as cash flow&#13;hedges.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Commodity&#13;Risk &amp;#150; Non-Designated Hedges&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company uses derivative instruments to lock in prices for certain amounts&#13;of corn and ethanol by entering into forward contracts for those commodities. These derivatives are not designated for special&#13;hedge accounting treatment. The changes in fair value of these contracts are recorded on the balance sheet and recognized immediately&#13;in cost of goods sold. The Company recognized a gain of $96,000 and a loss of $178,000 as the change in the fair value of these&#13;contracts for the years ended December 31, 2011 and 2010, respectively. The notional balances remaining on these contracts as&#13;of December 31, 2011 and 2010 were $9,186,000 and $237,000, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Interest&#13;Rate Risk&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company has historically used derivative instruments to minimize significant unanticipated income&#13;fluctuations that may arise from rising variable interest rate costs associated with existing and anticipated borrowings. The&#13;Company purchased interest rate caps and swaps to meet these objectives. During the year ended December 31, 2010, through both&#13;divesture of its investment and resulting deconsolidation of Front Range, and the emergence of the Plant Owners from bankruptcy,&#13;all interest rate caps and swaps were removed from the Company&amp;#146;s consolidated statement of position as of December 31, 2010.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;These derivatives&#13;were, at times, designated and documented as cash flow hedges, with effectiveness evaluated by assessing the probability of anticipated&#13;interest expense and regressing the historical value of the rates against the historical value in the existing and anticipated&#13;debt. The Company recognized gains from undesignated hedges of $0 and $1,227,000 in interest expense, net, for the years ended&#13;December 31, 2011 and 2010, respectively. These gains resulted primarily from the Company&amp;#146;s efforts to restructure its indebtedness&#13;prior to the Plant Owners&amp;#146; Chapter 11 Filings, therefore making it not probable that the related borrowings would be paid&#13;as designated. As such, the Company de-designated certain of its interest rate caps and swaps.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Non&#13;Designated Derivative Instruments&lt;/u&gt;&lt;/i&gt; &amp;#150; The classification and amounts of the Company&amp;#146;s derivatives not designated&#13;as hedging instruments are as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;As of December&#13;    31, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="4" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="4" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;Type of Instrument&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Balance Sheet Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Balance Sheet Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 24%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 23%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Other current assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 23%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Accrued liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;As of December&#13;    31, 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="4" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="4" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;Type of Instrument&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Balance Sheet Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Fair Value&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Balance Sheet Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Fair&amp;#160;Value&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 24%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 23%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Other current assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 23%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Accrued liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;15&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;15&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The classification&#13;and amounts of the Company&amp;#146;s recognized gains (losses) for its derivatives not designated as hedging instruments are as&#13;follow (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Realized Gain (Loss)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;For the Years Ended&#13;    December 31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Type of Instrument&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Statements of Operations Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 37%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 34%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Cost of goods sold&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;338&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(163&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;338&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(163&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Unrealized Gain&#13;    (Loss)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;For the Years Ended&#13;    December 31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Type of Instrument&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Statements of Operations Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 37%"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 34%"&gt;&lt;font style="font-size: 8pt"&gt;Cost of goods sold&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(242&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(15&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Interest rate contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Interest expense, net&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,227&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(242&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,212&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock>
    <us-gaap:DebtDisclosureTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Long-term&#13;borrowings are summarized as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;September 30, &lt;br /&gt;2012&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;December 31, &lt;br /&gt;&#13;    2011&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 46%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Kinergy operating line of credit&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 13%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;17,158&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 2%; color: black"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; color: black; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 13%; color: black; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;20,432&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; color: black; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Senior unsecured notes&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;10,000&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Note payable to related party&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;750&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;750&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Plant Owners&amp;#146; term debt&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;52,687&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;51,279&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Plant Owners&amp;#146; operating line of credit&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;38,500&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;21,978&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;119,095&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;94,439&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Less short-term portion&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(50,105&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(750&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Long-term debt&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;68,990&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;93,689&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Kinergy&#13;Operating Line of Credit&lt;/u&gt;&lt;/i&gt; &amp;#150; In May 2012, the Company extended Kinergy&amp;#146;s operating line of credit. The renewal&#13;of Kinergy&amp;#146;s credit facility is for an aggregate amount of up to $40,000,000, including an optional accordion feature for&#13;up to an additional $10,000,000. The prior credit facility included an accordion feature of $5,000,000. The credit facility expires&#13;on December 31, 2015. Interest accrues under the credit facility at a rate equal to (i)&amp;#160;the three-month London Interbank&#13;Offered Rate (&amp;#147;LIBOR&amp;#148;), plus (ii) a specified applicable margin ranging between 2.50% and 3.50%. The credit facility&amp;#146;s&#13;monthly unused line fee is 0.50% of the amount by which the maximum credit under the facility exceeds the average daily principal&#13;balance. Kinergy is also required to pay customary fees and expenses associated with the credit facility and issuances of letters&#13;of credit. In addition, Kinergy is responsible for a $3,000 monthly servicing fee. Payments that may be made by Kinergy to Pacific&#13;Ethanol as reimbursement for management and other services provided by Pacific Ethanol to Kinergy are limited to $800,000 per&#13;fiscal quarter in 2012, $900,000 per fiscal quarter in 2013, $1,000,000 per fiscal quarter in 2014 and $1,100,000 per fiscal quarter&#13;in 2015. As of September 30, 2012, Kinergy had unused availability under the revolving credit facility of $4,200,000.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;In addition,&#13;the amended facility includes the accounts receivable of PAP as additional collateral. Payments that may be made by PAP to Pacific&#13;Ethanol as reimbursement for management and other services provided by Pacific Ethanol to PAP are limited to the extent that quarterly&#13;payments would result in PAP recording less than $100,000 of net income in the quarter.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;For the fiscal&#13;quarter ending June 30, 2012 and each fiscal quarter thereafter, Kinergy and PAP are collectively required to generate aggregate&#13;earnings before interest, taxes, depreciation and amortization, or EBITDA, of $450,000 for the quarter and aggregate EBITDA of&#13;$1,100,000 for each two consecutive quarters. These amounts are required through December 31, 2013. In 2014, the required EBITDA&#13;amounts increase to $500,000 per quarter and $1,300,000 for each two consecutive quarters. Further, for all monthly periods, Kinergy&#13;and PAP must collectively maintain a fixed charge coverage ratio (calculated as a twelve-month rolling EBITDA divided by the sum&#13;of interest expense, capital expenditures, principal payments of indebtedness, indebtedness from capital leases and taxes paid&#13;during such twelve-month rolling period) of at least 2.0 and are prohibited from incurring any additional indebtedness (other&#13;than specific intercompany indebtedness) or making any capital expenditures in excess of $100,000 absent the lender&amp;#146;s prior&#13;consent. Kinergy and PAP&amp;#146;s obligations under the credit facility are secured by a first-priority security interest in all&#13;of their assets in favor of the lender. The Company believes it is in compliance with these covenants.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Senior&#13;Unsecured Notes&lt;/u&gt;&lt;/i&gt; &amp;#150; In July 2012, as part of the Company&amp;#146;s acquisition of an additional 33% ownership interest&#13;in New PE Holdco, the Company issued senior unsecured promissory notes (the &amp;#147;Notes&amp;#148;) due April 13, 2013 in the aggregate&#13;principal amount of $10.0 million. Interest on the unpaid principal amount accrued at a rate of 5.00% per annum. As discussed&#13;in Note 11, the Company repaid the Notes in October 2012.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Plant&#13;Owners&amp;#146; Term Debt and Operating Line of Credit&lt;/u&gt;&lt;/i&gt; &amp;#150; On July 13, 2012, the Plant Owners&amp;#146; amended their existing&#13;credit facilities. Prior to the amendment, the credit facilities consisted of a $35,000,000 revolving credit facility, a $25,000,000&#13;tranche A-1 term loan and a $26,300,000 tranche A-2 term loan. Under the amendment, the Plant Owners&amp;#146; credit facilities&#13;were, among other things, amended to extend the maturity date in respect of $46,800,000 of the combined revolving credit facility&#13;and term loans from June 25, 2013 to June 30, 2016. In addition, the aggregate commitment amount under the revolving credit facility&#13;was increased by $5,000,000. Further, monthly interest payments due to certain lenders may, at the option of the Plant Owners,&#13;be deferred and added to the loans maturing on the extended maturity date of June 30, 2016. As of September 30, 2012, $1,407,000&#13;of accrued interest was deferred and added to the term loan. The amendment also provides the Plant Owners with the ability to&#13;pay down and pay off the non-extending lenders and the outstanding tranche A-2 term loan at, or at any time prior to, the original&#13;maturity date of June 25, 2013 without penalty while keeping the extended loans in place.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;For&#13;the nine months ended September 30, 2012, the Plant Owners increased their borrowings under their operating line of credit by&#13;$16,522,000.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;As of September&#13;30, 2012, the Plant Owners had unused availability under the revolving credit facility of $700,000.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On October&#13;29, 2012, the Plant Owners amended and restated their existing credit facilities and entered into a new revolving credit facility&#13;for an aggregate amount of up to $10,000,000. See Note 11- Subsequent Events.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;has had and continues to have extensive communications with holders of the $39,500,000 in debt due June 25, 2013 to restructure&#13;the existing loans and any additional loans under the new $10,000,000 credit facility. The Company also continues to explore its&#13;capital raising alternatives. The Company believes that it will be able to successfully restructure the loans or raise additional&#13;capital, or both, prior to the June 25, 2013 maturity date. However, the Company cannot provide any assurances that it will be&#13;able to do so, or what the terms of any restructuring or capital raising transaction might be. If the Company is unable to timely&#13;restructure the $39,500,000 in debt (together with any additional debt under the new credit facility) due June 25, 2013 or raise&#13;sufficient capital to repay the debt, the Company will be in default on that debt and in cross-default on the $46,800,000 in debt&#13;extended to June 30, 2016, all of which, totaling $91,300,000 plus any amounts borrowed under the new credit facility,&#13;will be accelerated and immediately due and payable on June 25, 2013. As a result, the Company and its direct and indirect subsidiaries,&#13;including Kinergy and the Plant Owners, will likely experience material adverse effects.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Note&#13;Payable to Related Party&lt;/u&gt;&lt;/i&gt; &amp;#150; On March 31, 2009, the Company&amp;#146;s Chief Executive Officer provided funds in an aggregate&#13;amount of $1,000,000 for general working capital purposes, in exchange for an unsecured promissory note issued by the Company.&#13;Interest on the unpaid principal amount accrues at a rate of 8.00% per annum. The Company recorded interest under this note of&#13;approximately $15,000 and $20,000 for the three months ended September 30, 2012 and 2011, respectively.  As of&#13;December 31, 2011, the remaining amount of $750,000 was due and payable on the extended maturity date of March 31, 2012. On March&#13;7, 2012, the maturity date was further extended to March 31, 2013.&lt;/font&gt;&lt;/p&gt;</us-gaap:DebtDisclosureTextBlock>
    <us-gaap:DebtDisclosureTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Long-term&#13;debt is summarized in the following table (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 72%"&gt;&lt;font style="font-size: 8pt"&gt;Kinergy operating line of credit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;20,432&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;13,474&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Notes payable to related parties&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;750&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,250&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;New PE Holdco term debt&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;51,279&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;51,279&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;New PE Holdco operating line of credit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;21,978&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;18,978&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Convertible notes, at fair value&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;38,108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;94,439&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;123,089&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Less current portion&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(750&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(38,108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Long-term debt&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;93,689&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;84,981&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Kinergy&#13;Line of Credit&lt;/u&gt;&lt;/i&gt; &amp;#150; Kinergy has a working capital line of credit in an aggregate amount of up to $30,000,000, with&#13;an optional accordion feature of an additional $5,000,000. The credit facility is based on Kinergy&amp;#146;s eligible accounts receivable&#13;and inventory levels, subject to certain concentration reserves. The credit facility is subject to certain other sublimits, including&#13;as to inventory loan limits. Interest accrues under the line of credit at a rate equal to (i)&amp;#160;the three-month London Interbank&#13;Offered Rate (&amp;#147;LIBOR&amp;#148;), plus (ii) a specified applicable margin ranging between 3.50% and 4.50%. The applicable margin&#13;was 3.50% at December 31, 2011. The credit facility&amp;#146;s monthly unused line fee is 0.50% of the amount by which the maximum&#13;credit under the facility exceeds the average daily principal balance. Kinergy is also required to pay customary fees and expenses&#13;associated with the credit facility and issuances of letters of credit. In addition, Kinergy is responsible for a $3,000 monthly&#13;servicing fee. Payments that may be made by Kinergy to the Company as reimbursement for management and other services provided&#13;by the Company to Kinergy are limited to $800,000 per fiscal quarter in 2012 and $850,000 per fiscal quarter in 2013. Kinergy&#13;is required to meet specified EBITDA and fixed coverage ratio financial covenants under the credit facility, as amended, and is&#13;prohibited from incurring any additional indebtedness (other than specific intercompany indebtedness) or making any capital expenditures&#13;in excess of $100,000 absent the lender&amp;#146;s prior consent. The Company believes it is in compliance with these covenants.&#13;Kinergy&amp;#146;s obligations under the credit facility are secured by a first-priority security interest in all of its assets in&#13;favor of the lender. The line of credit matures on December 31, 2013. The Company has guaranteed all of Kinergy&amp;#146;s obligations&#13;under the line of credit. As of December 31, 2011, Kinergy had an available borrowing base under the credit facility of $26,564,000&#13;and an outstanding balance of $20,432,000.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Notes&#13;Payable to Related Parties&lt;/u&gt;&lt;/i&gt; &amp;#150; On March 31, 2009, the Company&amp;#146;s Chairman of the Board and its Chief Executive&#13;Officer provided funds in an aggregate amount of $2,000,000 for general working capital purposes, in exchange for two unsecured&#13;promissory notes issued by the Company. Interest on the unpaid principal amounts accrues at a rate of 8.00% per annum. All principal&#13;and accrued and unpaid interest on the promissory notes was initially due and payable in March 2010. On October 29, 2010, the&#13;Company paid all accrued interest and $750,000 in principal under these notes. On November 30, 2011, the Company paid $500,000&#13;in principal under these notes. The Company recorded interest under these notes of approximately $97,000 and $149,000 for the&#13;years ended December 31, 2011 and 2010, respectively. As of December 31, 2011, the remaining amount of $750,000 was due and payable&#13;on the extended maturity date of March 31, 2012. On March 7, 2012, the maturity date was further extended to March 31, 2013.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;New&#13;PE Holdco Term Debt and Operating Line of Credit&lt;/u&gt;&lt;/i&gt; &amp;#150; On the Effective Date, approximately&lt;i&gt;&lt;u&gt;&amp;#160;&lt;/u&gt;&lt;/i&gt;$294,478,000&#13;in prepetition and post petition secured indebtedness of the Plant Owners was restructured under a Credit Agreement entered into&#13;on June&amp;#160;25, 2010 among the Plant Owners, as borrowers, and various lenders. Under the Plan, the Plant Owners&amp;#146; existing&#13;prepetition and post petition secured indebtedness of approximately $294,478,000 was restructured to consist of approximately&#13;$50,000,000, plus accrued interest of $1,279,000, in three-year term loans and a new three-year revolving credit facility of up&#13;to $35,000,000 to fund working capital requirements of New PE Holdco. The term loan and revolving credit facility require monthly&#13;interest payments at a floating rate equal to the three-month LIBOR or the Prime Rate of interest, as elected by the borrower,&#13;plus 10.0%. At December 31, 2011, the rate was approximately 13.25%. Repayments of principal are based on available free cash&#13;flow of the borrower, until maturity, when all principal amounts are due. The term loan and revolving credit facility represent&#13;permanent financing and are collateralized by a perfected, first-priority security interest in all of the assets, including inventories&#13;and all rights, title and interest in all tangible and intangible assets, of New PE Holdco. The creditors of New PE Holdco do&#13;not have recourse to the Company. As of December 31, 2011, New PE Holdco had an outstanding letter of credit of approximately&#13;$844,000, unused availability under the credit facility of $12,178,000 and an outstanding balance of $21,978,000.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Convertible&#13;Notes&lt;/u&gt;&lt;/i&gt; &amp;#150; On October 6, 2010, the Company raised $35,000,000 through the issuance and sale of $35,000,000 in principal&#13;amount of secured convertible notes (&amp;#147;Initial Notes&amp;#148;) and warrants (&amp;#147;Initial 2010 Warrants&amp;#148;) to purchase&#13;an aggregate of 2,941,178 shares of the Company&amp;#146;s common stock. On January 7, 2011, the Company issued $35,000,000 in principal&#13;amount of secured convertible notes (&amp;#147;January Convertible Notes&amp;#148;) in exchange for the Initial Notes and warrants (&amp;#147;2010&#13;Warrants&amp;#148;) to purchase an aggregate of 2,941,178 shares of the Company&amp;#146;s common stock in exchange for the Initial&#13;2010 Warrants. The transactions contemplated by the exchange agreements were entered into to, among other things, clarify previously&#13;ambiguous language in the Initial Notes and Initial 2010 Warrants, provide the Company with additional time to meet its registration&#13;obligations and to add additional flexibility to the Company&amp;#146;s ability to incur indebtedness subordinated to the January&#13;Convertible Notes. As discussed below, the January Convertible Notes were valued at fair value, and as such, these modifications&#13;were reflected in the fair value adjustments for the period.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On June 30,&#13;2011, the Company issued $23,750,000 in principal amount of secured convertible notes, reflecting the amount then outstanding&#13;under the January Convertible Notes (&amp;#147;June Convertible Notes&amp;#148;) in exchange for the January Convertible Notes. The&#13;transactions contemplated by the exchange agreements were entered into to, among other things, defer an upcoming installment payment,&#13;add one additional month to the maturity date and add a new additional conversion price option as described further below. As&#13;discussed further below, the June Convertible Notes are valued at fair value, and as such, these modifications are reflected in&#13;the fair value adjustments for the year ended December 31, 2011.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On August&#13;3, 2011, under the terms of exchange agreements with the holders of the June Convertible Notes, the Company issued approximately&#13;$17,170,000 in principal amount, reflecting the amount then outstanding under the June Convertible Notes, of secured convertible&#13;notes (&amp;#147;Convertible Notes&amp;#148;) in exchange for the June Convertible Notes. The transactions contemplated by the exchange&#13;agreements were entered into to, among other things, add three additional months to the maturity date, add a new additional conversion&#13;price option as described further below and reduce the price failure threshold from $1.40 to $0.60. As discussed below, the Convertible&#13;Notes are valued at fair value, and as such, these modifications are reflected in the fair value adjustments for the year ended&#13;December 31, 2011.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;was obligated to make amortization payments with respect to the principal amount of each of the convertible notes, beginning on&#13;March 7, 2011 and then on the first trading day of each calendar month thereafter, except for the month of August, through the&#13;extended maturity date of May 2012 (collectively, the &amp;#147;Installment Dates&amp;#148;).&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On each Installment&#13;Date, the Company was to pay an amount of principal, as then determined under the convertible notes and any accrued and unpaid&#13;interest (the &amp;#147;Installment Amount&amp;#148;). The Company could elect to pay the Installment Amount in cash or shares of its&#13;common stock, subject to the satisfaction of certain conditions.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;If the Company&#13;elected to make all or part of an amortization payment in shares of its common stock, it was required to deliver to the holders&#13;of the convertible notes the amount of shares of the Company&amp;#146;s common stock equal to the portion of the amount being paid&#13;in shares of the Company&amp;#146;s common stock divided by the lesser of the then existing conversion price and 85% of the average&#13;of the volume weighted average prices of the 5 lowest trading days during the 20 consecutive trading day period ending on the&#13;trading day immediately prior to the applicable Installment Date.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;All amounts&#13;due under the convertible notes were also convertible at any time, in whole or in part, at the option of the holders into shares&#13;of the Company&amp;#146;s common stock at a specified conversion price.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;elected to account for the convertible notes using the fair value alternative in order to simplify its accounting and reporting&#13;of the convertible notes. Accordingly, the Company adjusted as of each quarter the carrying value of the convertible notes to&#13;their fair value since their initial issuance in October 2010, with such adjustments reflected in fair value adjustments on convertible&#13;debt and warrants in the statements of operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;recorded income of $7,559,000 and expense of $11,736,000 for fair value adjustments for the years ended December 31, 2011 and&#13;2010, respectively, for changes in fair value, which adjustments are attributed to a reduction in the principal balances and fluctuations&#13;in the market value of the Company&amp;#146;s common stock during each quarterly period. There were no changes in fair value of the&#13;convertible notes due to a change in the estimated credit risk of the instruments. See Note 13 for the Company&amp;#146;s fair value&#13;assumptions.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The following&#13;table summarizes the Installment Amounts and additional conversions by the note holders through their retirement on November 14,&#13;2011 (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Principal&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Interest&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Common&#13;    Shares&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 44%"&gt;&lt;font style="font-size: 8pt"&gt;Installment Amount &amp;#150; Q1 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,263&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,763&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,148&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Installment Amount &amp;#150; 5/2/2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;383&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,883&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,396&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Installment Amount &amp;#150; 6/1/2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,350&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;176&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,526&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,563&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Holder Conversions &amp;#150; Q2 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;900&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;49&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;949&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;428&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Installment Amount &amp;#150; 7/1/2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,450&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;159&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,609&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,313&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Installment Amount &amp;#150; 9/1/2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;283&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;144&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;427&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;*&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Holder Conversions &amp;#150; Q3 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;10,688&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;649&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11,337&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;27,144&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Installment Amount &amp;#150; 10/3/2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;929&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;64&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;993&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;*&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Installment Amount &amp;#150; 11/1/2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;--&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;*&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Holder Conversions &amp;#150; Q4 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,400&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;397&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,797&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;28,867&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;35,000&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,289&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;38,289&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;63,859&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&lt;hr size="1" noshade="noshade" align="left" style="width: 10%; color: black" /&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;* Cash payments&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Registration&#13;Rights Agreement&lt;/u&gt;&amp;#160;&lt;/i&gt;&amp;#150; In connection with the sale of the Initial Notes (and Convertible Notes) and the Initial&#13;2010 Warrants, the Company entered into a registration rights agreement with all of the investors to file a registration statement&#13;on Form S-1 with the Securities and Exchange Commission. In compliance with the Company's obligations under the registration rights&#13;agreement, as amended by the aforementioned exchange agreements, the Company filed a registration statement on Form S-1 to register&#13;for resale by the investors 3,968,423 shares of common stock underlying the Convertible Notes.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Interest&#13;Expense on Borrowings&lt;/u&gt;&lt;/i&gt; &amp;#150; Interest expense on all borrowings discussed above was $14,813,000 and $6,261,000 for the&#13;years ended December 31, 2011 and 2010, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Long-term&#13;debt due in each of the next two years is as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Years Ended December 31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Amount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 67%; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 27%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;750&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2013&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;93,689&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 3pt; padding-left: 9pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;94,439&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:DebtDisclosureTextBlock>
    <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&lt;u&gt;Purchase Commitments&lt;/u&gt;&lt;/i&gt; &amp;#150;&#13;At September 30, 2012, the Company had fixed-price purchase contracts with its suppliers to purchase $14,153,000 of ethanol and&#13;indexed-price contracts to purchase 112,000 gallons of ethanol. These contracts will be satisfied throughout the remainder of 2012.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="background-color: white"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&lt;u&gt;Sales Commitments&lt;/u&gt;&lt;/i&gt; &amp;#150; At&#13;September 30, 2012, the Company had entered into sales contracts with its major customers to sell certain quantities of ethanol&#13;and WDG. The volumes indicated in the indexed-price contracts table will be sold at publicly-indexed sales prices determined by&#13;market prices in effect on their respective transaction dates (in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="background-color: white"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: center; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"&gt;Fixed-Price Contracts&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 8pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 80%; font: 8pt Times New Roman, Times, Serif"&gt;Ethanol&lt;/td&gt;&#13;    &lt;td style="width: 3%; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 15%; text-align: right; font: 8pt Times New Roman, Times, Serif"&gt;70&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"&gt;WDG&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"&gt;521&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 8pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-indent: 13.7pt; font: 8pt Times New Roman, Times, Serif"&gt;Total&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"&gt;591&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: center; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif"&gt;Indexed-Price Contracts &lt;br /&gt;(Volume)&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 8pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 80%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"&gt;Ethanol (gallons)&lt;/td&gt;&#13;    &lt;td style="width: 3%; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 15%; text-align: right; font: 8pt Times New Roman, Times, Serif"&gt;97,708&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif"&gt;WDG (tons)&lt;/td&gt;&#13;    &lt;td style="font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right; font: 8pt Times New Roman, Times, Serif"&gt;55&lt;/td&gt;&#13;    &lt;td style="text-align: left; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&lt;u&gt;Litigation &amp;#150; General&lt;/u&gt; &amp;#150;&lt;/i&gt;&#13;The Company is subject to various claims and contingencies in the ordinary course of its business, including those related to litigation,&#13;business transactions, employee-related matters, and others. When the Company is aware of a claim or potential claim, it assesses&#13;the likelihood of any loss or exposure. If it is probable that a loss will result and the amount of the loss can be reasonably&#13;estimated, the Company will record a liability for the loss. If the loss is not probable or the amount of the loss cannot be reasonably&#13;estimated, the Company discloses the claim if the likelihood of a potential loss is reasonably possible and the amount involved&#13;could be material. While there can be no assurances, the Company does not expect that any of its pending legal proceedings will&#13;have a material financial impact on the Company&amp;#146;s operating results.&lt;/p&gt;&#13;&#13;&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/p&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
    <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Commitments&#13;&lt;/u&gt;&lt;/i&gt;&amp;#150; The following is a description of significant commitments at December 31, 2011:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;Operating&#13;Leases &amp;#150; &lt;/i&gt;Future minimum lease payments required by non-cancelable operating leases in effect at December 31, 2011 are&#13;as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Years&#13;        Ended&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;        31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Amount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 67%; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 27%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,474&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2013&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,196&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2014&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;735&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2015&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;747&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2016&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;701&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Thereafter&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,820&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,673&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Total rent&#13;expense during the years ended December 31, 2011 and 2010 was $2,300,000 and $1,598,000, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;Sales&#13;Commitments&lt;/i&gt; &amp;#150; At December 31, 2011, the Company had entered into sales contracts with its major customers to sell certain&#13;quantities of ethanol, WDG and syrup. These sales contracts will be completed throughout 2012. The volumes indicated in the indexed&#13;price contracts table will be sold at publicly-indexed sales prices determined by market prices in effect on their respective&#13;transaction dates (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Fixed-Price Contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="width: 67%"&gt;&lt;font style="font-size: 8pt"&gt;Ethanol&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 27%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,609&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-indent: -1in"&gt;&lt;font style="font-size: 8pt"&gt;WDG and syrup&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,662&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-indent: 0.25in"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,271&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Indexed-Price&#13;        Contracts&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;(Volume)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 67%"&gt;&lt;font style="font-size: 8pt"&gt;Ethanol (gallons)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 27%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;113,575&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;WDG and syrup (tons)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;Purchase&#13;Commitments&lt;/i&gt; &amp;#150; At December 31, 2011, the Company had fixed-price purchase contracts with its suppliers to purchase $17,329,000&#13;of ethanol and indexed-price purchase contracts with its suppliers to purchase 9,138,000 gallons of ethanol. These purchase commitments&#13;will be satisfied throughout 2012.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Contingencies&#13;&lt;/u&gt;&lt;/i&gt;&amp;#150; The following is a description of significant contingencies at December 31, 2011:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;Litigation&#13;&amp;#150; General &amp;#150;&lt;/i&gt; The Company is subject to various claims and contingencies in the ordinary course of its business,&#13;including those related to litigation, business transactions, employee-related matters, and others. When the Company is aware&#13;of a claim or potential claim, it assesses the likelihood of any loss or exposure. If it is probable that a loss will result and&#13;the amount of the loss can be reasonably estimated, the Company will record a liability for the loss. If the loss is not probable&#13;or the amount of the loss cannot be reasonably estimated, the Company discloses the claim if the likelihood of a potential loss&#13;is reasonably possible and the amount involved could be material. While there can be no assurances, the Company does not expect&#13;that any of its pending legal proceedings will have a material financial impact on the Company&amp;#146;s operating results.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;Litigation&#13;&amp;#150; Barry Spiegel&lt;/i&gt; &amp;#150; In 2005, Barry J. Spiegel, a former shareholder and director of Accessity Corp., filed a complaint&#13;in the Circuit Court of the 17th Judicial District in and for Broward County, Florida (Case No. 05018512, the &amp;#147;State Court&#13;Action&amp;#148;), against Barry Siegel, Philip Kart, Kenneth Friedman and Bruce Udell. Messrs. Udell and Friedman are former directors&#13;of Accessity and Pacific Ethanol. Mr. Kart is a former executive officer of Accessity and Pacific Ethanol. Mr. Siegel is a former&#13;director and former executive officer of Accessity and Pacific Ethanol. Mr. Spiegel voluntarily dismissed his case in 2007 but&#13;later renewed his case in 2009 and added as additional defendants PEI California, Pacific Ethanol, William L. Jones, Neil M. Koehler&#13;and Ryan W. Turner. Messrs. Jones and Turner are directors of Pacific Ethanol. Mr. Turner is a former officer of Pacific Ethanol.&#13;Mr. Koehler is a director and officer of Pacific Ethanol.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;In 2006,&#13;Mr. Spiegel filed a complaint in the United States District Court for the Southern District of Florida (Case No. 06-61848, the&#13;&amp;#147;Federal Court Action&amp;#148;), against the foregoing individual defendants and Pacific Ethanol.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The State&#13;and Federal Court Actions alleged numerous claims and related to a share exchange transaction completed in 2005 among Accessity&#13;and the owners of each of Kinergy, ReEnergy, LLC and PEI California. The State Court Action sought approximately $22.0 million&#13;in damages. The Federal Court Action sought approximately $15.0 million in damages.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;After discovery,&#13;various motions and other pre-trial proceedings, on November 9, 2011, the Company and parties to the Spiegel cases entered into&#13;a confidential settlement agreement to settle all matters relating to the State Court Action and the Federal Court Action. The&#13;settlement agreement became effective on November 21, 2011, whereupon the State Court Action and the Federal Court Action were&#13;dismissed with prejudice.&lt;/font&gt;&lt;/p&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
    <us-gaap:FairValueDisclosuresTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0"&gt;The fair value hierarchy&#13;prioritizes the inputs used in valuation techniques into three levels as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 0.5in"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 0.25in; font-family: Symbol"&gt;&amp;#183;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Level 1 &amp;#150; Observable inputs &amp;#150; unadjusted quoted prices in active markets for identical assets and liabilities;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 0.5in"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 0.25in; font-family: Symbol"&gt;&amp;#183;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Level 2 &amp;#150; Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with market data; and&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 0.5in"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 0.25in; font-family: Symbol"&gt;&amp;#183;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Level 3 &amp;#150; Unobservable inputs &amp;#150; includes amounts derived from valuation models where one or more significant inputs are unobservable. For fair value measurements using significant unobservable inputs, a description of the inputs and the information used to develop the inputs is required along with a reconciliation of Level 3 values from the prior reporting period.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company valued its warrants using a Monte&#13;Carlo Binomial Lattice-Based valuation methodology, adjusted for marketability restrictions. Significant assumptions used in the&#13;valuations for the dates noted are as follows (fair value in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&lt;u&gt;As of September 30, 2012:&lt;/u&gt;&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="color: Red; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Original Issue&lt;br /&gt; Date&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Exercise Price&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Volatility&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Risk&lt;br /&gt; Free Int&lt;br /&gt; Rate&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Term&lt;br /&gt; (yrs)&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Marketability&lt;br /&gt; Discount&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&amp;#160; Fair Value&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 34%; text-align: right"&gt;October 2010&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;0.12&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;75.6%&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;0.62%&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;5.10&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;48.0%&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;43&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: right"&gt;December 2011&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;0.84&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;77.7%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;0.47%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;4.21&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;55.9%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;585&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: right"&gt;July 2012&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;0.50&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;76.8%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;0.62%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;4.76&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;57.5%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;3,351&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: right"&gt;July 2012&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;0.43&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;73.9%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;0.17%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;1.26&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;57.5%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;858&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: right"&gt;September 2012&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;0.59&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;74.1%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;0.31%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;3.00&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;58.5%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; border-bottom: Black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right; border-bottom: Black 1pt solid"&gt;1,658&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; border-bottom: Black 2.5pt double"&gt;$&lt;/td&gt;&#13;    &lt;td style="text-align: right; border-bottom: Black 2.5pt double"&gt;6,495&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="color: Red; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&lt;u&gt;As of December 31, 2011:&lt;/u&gt;&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="color: Red; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Original Issue&lt;br /&gt; Date&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Exercise Price&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Volatility&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Risk&lt;br /&gt; Free Int&lt;br /&gt; Rate&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Term&lt;br /&gt; (yrs)&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Marketability&lt;br /&gt; Discount&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fair Value&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 34%; text-align: right"&gt;October 2010&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;0.45&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;68.0%&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;1.09%&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;5.90&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;47.4%&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;226&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: right"&gt;December 2011&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;1.50&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;68.0%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;0.83%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;4.96&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;52.0%&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; border-bottom: Black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right; border-bottom: Black 1pt solid"&gt;1,695&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; border-bottom: Black 2.5pt double"&gt;$&lt;/td&gt;&#13;    &lt;td style="text-align: right; border-bottom: Black 2.5pt double"&gt;1,921&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;The changes in the fair value of the&#13;Company&amp;#146;s Level 3 inputs were as follows (in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 85%"&gt;Balance, December 31, 2011&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;1,921&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Warrant exercises&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;(112&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;Adjustments to fair value for the period&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;33&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;Balance, March 31, 2012&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;1,842&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;Adjustments to fair value for the period&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;(1,285&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;Balance, June 30, 2012&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;557&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td&gt;July Offering&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;3,380&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;September Offering&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;1,658&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;Adjustments to fair value for the period&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;900&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;Balance, September 30, 2012&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;6,495&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&lt;u&gt;Other Derivative Instruments&lt;/u&gt;&lt;/i&gt;&#13;&amp;#150; The Company&amp;#146;s other derivative instruments consist of commodity positions. The fair value of the commodity positions&#13;are based on quoted prices on the commodity exchanges and are designated as Level 1.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The following table summarizes fair value measurements by level&#13;at September 30, 2012 (in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"&gt;Assets:&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"&gt;Commodity contracts(1)&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;514&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;514&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"&gt;Total Assets&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;514&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;514&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;__________&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;(1) Included in other current&#13;assets in the consolidated balance sheets.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&amp;#160;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"&gt;Liabilities:&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 48%; text-align: left"&gt;Warrants&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;6,495&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;6,495&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"&gt;Commodity contracts(1)&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;291&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;291&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"&gt;Total Liabilities&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;291&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;6,495&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;6,786&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;__________&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;(1) Included in accrued liabilities in the&#13;consolidated balance sheets.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The following tables summarize fair value measurements by level&#13;at December 31, 2011 (in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"&gt;Assets:&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"&gt;Commodity contracts(1)&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;244&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;244&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"&gt;Total Assets&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;244&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;244&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;__________&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;(1) Included in other current assets in the&#13;consolidated balance sheets.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt"&gt;&amp;#160;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 1&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 2&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Level 3&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"&gt;Liabilities:&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="width: 48%; text-align: left"&gt;Warrants(1)&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;1,921&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;1,921&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"&gt;Commodity contracts(2)&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;500&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;500&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"&gt;Total Liabilities&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;500&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&amp;#150;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;1,921&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;2,421&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;__________&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;(1) Included in other liabilities&#13;in the consolidated balance sheets.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;(2) Included in accrued&#13;liabilities in the consolidated balance sheets.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&amp;#160;&lt;/p&gt;</us-gaap:FairValueDisclosuresTextBlock>
    <us-gaap:FairValueDisclosuresTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The fair&#13;value hierarchy prioritizes the inputs used in valuation techniques into three levels as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60px; font-size: 10pt; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 30px; font: 10pt Symbol; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#183;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-size: 10pt; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Level 1 &amp;#150; Observable inputs &amp;#150; unadjusted&#13;    quoted prices in active markets for identical assets and liabilities;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60px; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 30px; font-family: Symbol; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#183;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Level 2 &amp;#150; Observable inputs other than quoted prices included&#13;    in Level 1 that are observable for the asset or liability through corroboration with market data; and&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60px; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 30px; font-family: Symbol; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#183;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Level 3 &amp;#150; Unobservable inputs &amp;#150; includes amounts&#13;    derived from valuation models where one or more significant inputs are unobservable. For fair value measurements using significant&#13;    unobservable inputs, a description of the inputs and the information used to develop the inputs is required along with a reconciliation&#13;    of Level 3 values from the prior reporting period.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Convertible&#13;Notes and 2010 Warrants&lt;/u&gt;&lt;/i&gt; &amp;#150; As discussed in Notes 6 and 10, the Company recorded the convertible notes and related&#13;warrants at fair value and designated them as Level 3 on their issuance date.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The convertible&#13;notes were valued using a combination of a Monte Carlo Binomial Lattice-Based valuation methodology for the embedded conversion&#13;feature, adjusted for marketability restrictions, combined with a discounted cash flow model for the payment stream of the debt&#13;instrument. Significant assumptions used in the valuation at both the issuance date and December 31, 2010 are as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 2px solid; text-align: left; font-weight: bold; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Assumptions&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2px solid; text-align: center; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;October&#13;    6, 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2px solid; text-align: center; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;    31, 2010&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 55%; text-align: justify; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Conversion price&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;$ 5.95&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 9%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;$ 5.95&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 9%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #eeeeee; vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Volatility&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;73.7&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;68.4&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: white; vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Risk free interest rate&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.24&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.29&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #eeeeee; vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Term (years)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.27&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.03&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: white; vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Marketability discount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;32.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;27.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #eeeeee; vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Discount rate on plain debt&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;30.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;30.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Based on&#13;the above, the Company estimated the fair value of the convertible notes to be $37,474,000 at October 6, 2010 and $38,108,000&#13;at December 31, 2010. The Company continued estimating the fair value of the convertible notes quarterly until their retirement&#13;on November 14, 2011.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The warrants&#13;were valued using a Monte Carlo Binomial Lattice-Based valuation methodology, adjusted for marketability restrictions. Significant&#13;assumptions used in the valuations for the dates noted are as follows:&lt;/font&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Assumptions&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;October&#13;    6, 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;    31, 2010&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 56%"&gt;&lt;font style="font-size: 8pt"&gt;Strike price&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;$5.95&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 9%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;$5.95&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 9%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Volatility&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;67.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;63.5&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Risk free interest rate&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.77&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2.71&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Term (years)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7.00&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6.90&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Marketability discount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;50.4&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;$44.4&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Based on&#13;the above, the Company estimated the fair value of the warrants to be $7,445,000 at October 6, 2010 and $5,718,000 at December&#13;31, 2010.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;As discussed&#13;in Note 10, as a result of the Company&amp;#146;s private placement on December 13, 2011, the strike price of the 2010 Warrants reset.&#13;The Company estimated the fair value of the 2010 Warrants on December 13, 2011 and December 31, 2011 as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Assumptions&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;    13, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;    31, 2011&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 56%"&gt;&lt;font style="font-size: 8pt"&gt;Strike price&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;$0.45&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 9%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;$0.45&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 9%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Volatility&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;72.3&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;68.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Risk free interest rate&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.13&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.09&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Term (years)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5.90&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5.90&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Marketability discount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;50.2&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;47.4&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Based on&#13;the above, the Company estimated the fair value of the 2010 Warrants to be $1,394,000 at December 13, 2011 and $226,000 at December&#13;31, 2011.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The 2011&#13;Warrants were valued using a Monte Carlo Binomial Lattice-Based valuation methodology, adjusted for marketability restrictions.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Significant&#13;assumptions used in the valuations for the dates noted are as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Assumptions&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;    13, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;    31, 2011&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 56%"&gt;&lt;font style="font-size: 8pt"&gt;Strike price&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;$1.50&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 9%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;$1.50&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 9%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Volatility&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;72.3&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;68.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Risk free interest rate&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.85&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.83&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Term (years)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5.00&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.96&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Marketability discount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;54.9&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;52.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Based on&#13;the above, the Company estimated the fair value of the 2011 Warrants to be $1,809,000 at December 13, 2011 and $1,695,000 at December&#13;31, 2011.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Interest&#13;Rate Caps and Swaps&lt;/u&gt;&lt;/i&gt; &amp;#150; Prior to the Effective Date, the Company classified the Plant Owners&amp;#146; interest rate&#13;caps and swaps into the following levels depending on the inputs used to determine their fair values. The fair value of the interest&#13;rate caps were designated as Level 2 based on quoted prices on similar assets or liabilities in active markets. The fair values&#13;of the interest rate swaps were designated as Level 3 and were based on a combination of observable inputs and material unobservable&#13;inputs.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Plant&#13;Owners had five pay-fixed-and-receive variable interest rate swaps in liability positions which were extinguished as part of the&#13;emergence from bankruptcy. To reflect the Plant Owners&amp;#146; financial condition and Chapter 11 Filings, a recovery rate of 40%&#13;was applied to that value. Management elected the 40% recovery rate in the absence of any other company-specific information.&#13;As the recovery rate is a material unobservable input, these swaps were considered Level 3. On June 29, 2010, the liability balance&#13;of $1,628,000 was removed from the Company&amp;#146;s consolidated financial statements as discussed in Note 7.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Other&#13;Derivative Instruments&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company&amp;#146;s other derivative instruments consist of commodity positions. The fair&#13;value of the commodity positions are based on quoted prices on the commodity exchanges and are designated as Level 1.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The following&#13;table summarizes fair value measurements by level at December 31, 2011 (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    1&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    2&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    3&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline"&gt;&lt;font style="font-size: 8pt"&gt;Assets:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 44%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-indent: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Total Assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline; text-indent: -1in"&gt;&lt;font style="font-size: 8pt"&gt;Liabilities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;2011 Warrants(1)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,695&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,695&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;2010 Warrants(1)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;226&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;226&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts(1)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-indent: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Total Liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,921&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,421&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&#13;&#13;&#13;&#13;&#13;&lt;hr size="1" noshade="noshade" align="left" style="width: 10%; color: black" /&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Included&#13;in other liabilities in the consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The following&#13;table summarizes fair value measurements by level at December 31, 2010 (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    1&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    2&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    3&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline"&gt;&lt;font style="font-size: 8pt"&gt;Assets:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 44%"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-indent: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Total Assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="font-weight: bold; text-indent: -1in"&gt;&lt;font style="font-size: 8pt"&gt;Liabilities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Convertible notes&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;38,108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;38,108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;2010 Warrants(1)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,718&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,718&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts(1)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;15&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;15&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-indent: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Total Liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;15&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;43,826&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;43,841&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;hr size="1" noshade="noshade" align="left" style="width: 10%; color: black" /&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Included&#13;in other liabilities in the consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;For fair&#13;value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop&#13;the inputs is required along with a reconciliation of Level 3 values from the prior reporting period. The changes in the Company&amp;#146;s&#13;fair value of its Level 3 inputs were as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Convertible&#13;    Notes&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&#13;    Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&#13;    Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Interest&#13;    Rate Swaps&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="width: 44%"&gt;&lt;font style="font-size: 8pt"&gt;Balance, December 31, 2009&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(2,875&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Issuance of convertible notes and warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;37,474&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7,445&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Gain recognized in bankruptcy exit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,628&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Adjustments to fair value for the period&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;634&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,727&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,247&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Balance, December 31, 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;38,108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,718&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Issuance of 2011 Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,809&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Repayments of convertible notes&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(35,000&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Exercises of 2010 Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,155&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Adjustments to fair value for the period&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(3,108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(4,337&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(114&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Balance, December 31, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;226&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,695&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Reconciliation&#13;of Impact to Statements of Operations&lt;/u&gt;&lt;/i&gt; &amp;#150; The following reconciliation summarizes the initial amounts recognized for&#13;the issuance of the convertible notes, 2010 Warrants and 2011 Warrants and subsequent amounts that are recorded in the statements&#13;of operations as fair value adjustments (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Balance&#13;    Sheet&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Statements&#13;    of Operations&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Convertible&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Notes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Fair&#13;        Value&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Gain&#13;        (Loss)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 58%"&gt;&lt;font style="font-size: 8pt"&gt;Issuance of $35.0 million on October 6, 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;37,474&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7,445&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(9,919&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Write-off of issuance costs&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(2,910&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Adjustments to fair value for the period&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;634&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,727&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,093&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;As of and for year ending December 31, 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;38,108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,718&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(11,736&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Issuance of 2011 Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,809&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Repayments of convertible notes&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(35,000&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Exercises of 2010 Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,155&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Adjustments to fair value for the period&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(3,108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(4,451&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(7,559&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;As of and for year ending December 31, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,921&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(7,559&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:FairValueDisclosuresTextBlock>
    <us-gaap:EarningsPerShareTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The following&#13;tables compute basic and diluted earnings per share (in thousands, except per share data):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Nine Months Ended&#13;    September 30, 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Loss &lt;br /&gt;Numerator&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Denominator&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Per-Share&lt;br /&gt; Amount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 61%; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Net loss attributed to Pacific Ethanol&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(13,553&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: justify; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Less: Preferred stock dividends&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(949&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; text-indent: -8.05pt; padding-left: 8.05pt"&gt;&lt;font style="font-size: 8pt"&gt;Basic&#13;    and diluted loss per share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt"&gt;&lt;font style="font-size: 8pt"&gt;Loss&#13;    available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(14,502&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;96,203&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(0.15&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Nine Months Ended&#13;    September 30, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Income &lt;br /&gt; Numerator&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Denominator&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Per-Share &lt;br /&gt; Amount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 61%; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Net income attributed to Pacific Ethanol&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,120&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Less: Preferred stock dividends&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(946&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt"&gt;&lt;font style="font-size: 8pt"&gt;Basic income per share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Income available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,174&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;21,230&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.20&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Add: Stock options&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;98&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt"&gt;&lt;font style="font-size: 8pt"&gt;Diluted income per&#13;    share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt"&gt;&lt;font style="font-size: 8pt"&gt;Income&#13;    available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,174&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;21,328&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.20&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;There were an&#13;aggregate of 3,300,000 potentially dilutive weighted-average shares from convertible securities outstanding for&#13;the nine months ended September 30, 2012. These convertible securities were not considered in calculating&#13;diluted net loss per share for the three and nine months ended September 30, 2012, as their effect would have been anti-dilutive.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt; background-color: white"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</us-gaap:EarningsPerShareTextBlock>
    <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Preferred&#13;Dividends&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company accrued and paid cash dividends in respect of its Series B Preferred Stock of $949,000 for&#13;the nine months ended September 30, 2012, and accrued but did not pay cash dividends of $946,000 for the nine months ended September&#13;30, 2011. On August 21, 2012, the Company entered into an agreement with the Series B Preferred Stock holders under which the&#13;Company issued 2,360,000 shares of its common stock in payment of $732,000 of the total $7,315,000 of accrued and unpaid dividends&#13;in respect of the Series B Preferred Stock. In addition, the holders of the Series B Preferred Stock agreed to forebear from exercising&#13;any rights they may have with respect to the unpaid dividends until January 1, 2014. The Company had accrued and unpaid dividends&#13;in respect of its Series B Preferred Stock of $6,583,000 and $7,315,000 as of September 30, 2012 and December 31, 2011, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Note&#13;Payable to Related Party&lt;/u&gt; &amp;#150; &lt;/i&gt;The Company had a note payable to its Chief Executive Officer totaling $750,000 as of&#13;September 30, 2012 and December 31, 2011. This note matures on March 31, 2013.&lt;/font&gt;&lt;/p&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
    <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Preferred&#13;Dividends&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company had accrued and unpaid dividends in respect of its Series B Preferred Stock of $7,315,000&#13;and $6,050,000 as of December 31, 2011 and 2010, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Notes&#13;Payable to Related Parties&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company had notes payable to its Chairman of the Board and its Chief Executive&#13;Officer totaling $750,000 and $1,250,000 as of December 31, 2011 and 2010, respectively. On November 30, 2011, the Company paid&#13;$500,000 in principal under these notes. On October 29, 2010, the Company paid all accrued interest and $750,000 in principal&#13;under these notes. On November 5, 2010, the Company entered into amendments to these notes, extending the maturity date to March&#13;31, 2012. On March 7, 2012, the maturity date was further extended to March 31, 2013.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Notes&#13;Payable to Related Party&lt;/u&gt;&lt;/i&gt; &amp;#150; In November 2008, the Company restructured certain construction related loans of $30,000,000&#13;in the aggregate with Lyles United by paying all accrued and unpaid interest thereon and issuing an amended and restated promissory&#13;note in the principal amount of $30,000,000. The amended and restated promissory note was due March 15, 2009 and accrued interest&#13;at the Prime Rate of interest, plus 3.00%.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;In October&#13;2008, upon completion of the Stockton facility, the Company converted final unpaid construction costs to an unsecured note payable.&#13;The note payable was between the Company and Lyles Mechanical Co. in the principal amount of $1,500,000 and was due with accrued&#13;interest on March 31, 2009. Interest accrued at the Prime Rate of interest, plus 2.00%.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;In February&#13;2009, the Company notified Lyles United and Lyles Mechanical Co. (collectively, &amp;#147;Lyles&amp;#148;) that it would not be able&#13;to pay off its notes due March 15 and March 31, 2009 and as a result, entered into a forbearance agreement. Under the terms of&#13;the forbearance agreement, Lyles agreed to forbear from exercising rights and remedies against the Company through April 30, 2009.&#13;These forbearances were not extended.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;In March&#13;2010, the Company announced agreements designed to satisfy its indebtedness to Lyles. Socius CG II, Ltd. (&amp;#147;Socius&amp;#148;)&#13;entered into purchase agreements with Lyles under which Socius would purchase claims in respect of the Company&amp;#146;s indebtedness&#13;in tranches of up to $5,000,000, which claims Socius would then settle in exchange for shares of the Company&amp;#146;s common stock.&#13;Each tranche was to be settled in exchange for the Company&amp;#146;s common stock valued at a 20% discount to the volume weighted&#13;average price of the Company&amp;#146;s common stock over a predetermined trading period, which ranged from five to 20 trading days,&#13;immediately following the date on which the shares were first issued to Socius.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Under this&#13;arrangement, the Company issued shares to Socius which settled outstanding debt previously owed to Lyles in four successive transactions.&#13;For the year ended December 31, 2010, the Company issued an aggregate of 3,441,000 shares with an aggregate fair value of $21,159,000&#13;in exchange for $19,000,000 in debt extinguishment, resulting in an aggregate loss of $2,159,000. The Company determined fair&#13;value based on the closing price of its shares on the last day of the applicable trading period, which was the date the net shares&#13;to be issued were determinable by the Company.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On October&#13;6, 2010, the Company paid in full all remaining principal, accrued interest and fees owed to Lyles using the proceeds from the&#13;sale of its interest in Front Range and the issuance and sale of the convertible notes and 2010 Warrants.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Consulting&#13;Agreement &amp;#150; Ryan Turner &amp;#150;&lt;/u&gt;&amp;#160;&lt;/i&gt;In November 2009, the Company entered into a consulting agreement with Ryan&#13;W. Turner, who is the son-in-law of the Company&amp;#146;s Chairman of the Board, at $20,000 per month for consulting services relating&#13;to the Company&amp;#146;s restructuring efforts. The Company paid Mr. Turner an aggregate of $23,100 for the year ended December&#13;31, 2010. As of December 31, 2010, the Company had no outstanding accounts payable to Mr. Turner. The Company&amp;#146;s consulting&#13;relationship with Mr. Turner was terminated in connection with his appointment to the Company&amp;#146;s Board of Directors in February&#13;2010. Mr. Turner did not seek reelection in 2011 and is no longer a member of the Company&amp;#146;s Board of Directors.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Consulting&#13;Agreement &amp;#150; Michael Kandris &amp;#150;&lt;/u&gt;&amp;#160;&lt;/i&gt;On December 30, 2011, the Company entered into an Independent Contractor&#13;Services Agreement with Michael Kandris, a member of the Company&amp;#146;s Board of Directors, appointing him as a consultant to&#13;the Company with supervisory responsibility for ethanol plant operations, under the direction of the Company&amp;#146;s Chief Executive&#13;Officer. The agreement became effective as of January 1, 2012.&lt;i&gt;&amp;#160;&lt;/i&gt;Mr. Kandris is to receive compensation as set forth&#13;in each statement of work. The current statement of work provides that Mr. Kandris shall receive bi-weekly payments in the amount&#13;of approximately $8,500. The agreement has an initial term of one year, and may be renewed by mutual agreement for successive&#13;one-year terms.&lt;/font&gt;&lt;/p&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
    <us-gaap:SubsequentEventsTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Repayment&#13;of Senior Unsecured Notes&lt;/u&gt;&lt;/i&gt; &amp;#150; On October 1, 2012, the Company fully repaid in cash its $10,000,000 in senior unsecured&#13;notes from proceeds of its public offering, which closed on September 26, 2012.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Second&#13;Amended and Restated Credit Agreement&lt;/u&gt;&lt;/i&gt; &amp;#150; On October 29, 2012, the Plant Owners entered into a Second Amended and&#13;Restated Credit Agreement (&amp;#147;Restated Credit Agreement&amp;#148;) with the lenders party to the agreement. The Restated Credit&#13;Agreement provides for a revolving credit facility of up to $40,000,000, a term loan of $25,000,000 (&amp;#147;Tranche A-1 Loan&amp;#148;)&#13;and a term loan of $26,300,000 (&amp;#147;Tranche A-2 Loan&amp;#148;). Under the terms of the Restated Credit Agreement, $39,500,000&#13;of the combined revolving loans and term loans has a maturity date of June 25, 2013 and $51,800,000 of the combined revolving&#13;loans and term loans has a maturity date of June 30, 2016.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Plant&#13;Owners may elect to receive Eurodollar loans and/or base rate loans. The per annum interest rate on Eurodollar loans is equal&#13;to (a) the rate obtained by dividing (i) the one-month LIBOR for the relevant interest period (but in no event less than 4%) by&#13;(ii) a percentage equal to (1) 100% minus (2) the Eurodollar Reserve Percentage (as determined by the Board of Governors of the&#13;Federal Reserve System) for the relevant period, plus (b) the applicable margin of 10%. The per annum interest rate on base rate&#13;loans is equal to (A) the higher of (x) the Federal Funds Effective Rate (equal to the weighted average of the rates on overnight&#13;federal funds transactions with members of the Federal Reserve System) plus 0.50%, (y) the rate of interest as publicly announced&#13;by Wells Fargo Bank as its &amp;#147;prime rate&amp;#148; or (z) the one-month LIBOR plus 1.0%, plus the applicable margin of 10%.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Interest&#13;under the loans is payable monthly in cash, but as long as no default or event of default has occurred or is continuing, interest&#13;payments due to certain lenders for any period prior to June 25, 2013, may, at the option of the Plant Owners, be deferred and&#13;added to the principal balance of the Tranche A-1 Loan due June 30, 2016. The Plant Owners are also required to pay an unused&#13;line fee of 2.0% per annum and other customary fees and expenses associated with the credit facility.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;The&#13;Plant Owners&amp;#146; obligations are secured by a security interest in their assets and equity interests in favor of the lenders.&#13;The Restated Credit Agreement contains numerous customary representations, warranties, affirmative and negative covenants and&#13;other customary terms and conditions, including events of default (including upon the occurrence of an event of default with respect&#13;to any indebtedness owed by the Company) and remedies in favor of the lenders. The Restated Credit Agreement also contains restrictions&#13;on the creation or incurrence of additional indebtedness (other than pursuant to the Credit Agreement described below) and on&#13;distributions of funds from the Plant Owners to any affiliates of the Plant Owners, including the Company.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt; font-weight: normal"&gt;The&#13;Restated Credit Agreement also contains financial covenants concerning certain of the Plant Owners&amp;#146; budgeted expenses. Specifically,&#13;the Plant Owners shall not permit amounts disbursed pursuant to the categories in the budget related to the asset management agreement&#13;among the Plant Owners and the Company and operating disbursements to exceed their respective budgeted amounts by more than 10%.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;/p&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt; font-weight: normal"&gt;The&#13;Plant Owners have the right at any time, and from time to time, but subject to limitations imposed by an intercreditor agreement&#13;(described below), to prepay in whole or in part the revolving loans and Tranche A-1 Loans (and the Tranche A-2 Loans following&#13;the payment in full of the revolving loans and Tranche A-1 Loans). However, in the event of any prepayment of the Tranche A-1&#13;Loans that have a maturity date of June 30, 2016, the Plant Owners must pay a premium equal to the present value of all interest&#13;payments which would have accrued from the date of such payment through June 30, 2016, calculated using a discount rate, applied&#13;quarterly, equal to the Treasury Rate as of such prepayment date plus 50 basis points. The Restated Credit Agreement also provides&#13;for mandatory prepayments in connection with certain customary events, including any sale of material assets; however, certain&#13;mandatory prepayments are not subject to the prepayment premium.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Credit&#13;Agreement&lt;/u&gt;&lt;/i&gt; &amp;#150; On October 29, 2012, the Plant Owners entered into a Credit Agreement (&amp;#147;Credit Agreement&amp;#148;)&#13;with lenders party to the agreement. The Credit Agreement provides for a revolving credit facility of up to $10,000,000. The Plant&#13;owners may request (with a maximum of 5 requests) increases in the amount of the facility in increments of not less than $1,000,000,&#13;up to a maximum credit limit of $5,000,000. The lenders have no obligation to agree to such a request.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Effective&#13;as of January 11, 2013, the maturity date applicable to Loans made under the Credit Agreement was extended from June 25, 2013&#13;to June 25, 2015. The maturity date applicable to the Loans made under the Credit Agreement may be extended to June 25, 2016 upon&#13;approval of lenders holding in excess of 50% of the outstanding principal amount of the loans and the undisbursed amount of the&#13;aggregate lending commitment.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Plant&#13;Owners may elect to receive Eurodollar loans and/or base rate loans. The per annum interest rate on Eurodollar loans is equal&#13;to (a) the rate obtained by dividing (i) the one-month LIBOR for the relevant interest period (but in no event less than 4%) by&#13;(ii) a percentage equal to (1) 100% minus (2) the Eurodollar Reserve Percentage (as determined by the Board of Governors of the&#13;Federal Reserve System) for the relevant period, plus (b) the applicable margin. The per annum interest rate on base rate loans&#13;is equal to (A) the higher of (x) the Federal Funds Effective Rate (equal to the weighted average of the rates on overnight federal&#13;funds transactions with members of the Federal Reserve System), plus 0.50%, (y) the rate of interest as publicly announced by&#13;Wells Fargo Bank as its &amp;#147;prime rate&amp;#148; or (z) the one-month LIBOR plus 1.0%, plus the applicable margin. With respect&#13;to both the Eurodollar loans and base rate loans, the applicable margin is 5.5%; provided that for any loans for which interest&#13;is paid as capitalized interest, the applicable margin is deemed to be 8.0% per annum for the period for which interest is so&#13;paid.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Interest&#13;under the loans is payable monthly in cash, but as long as no default or event of default has occurred or is continuing, interest&#13;payments due to the lenders may, at the option of the Plant Owners, be deferred and added as capitalized interest to the principal&#13;balance of the loans.&lt;b&gt; &lt;/b&gt;The Plant Owners are also required to pay an unused line fee of 2.0% per annum and other customary&#13;fees and expenses associated with the credit facility.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Plant&#13;Owners&amp;#146; obligations are secured by a security interest in their assets and equity interests in favor of the lenders. The&#13;Credit Agreement contains numerous customary representations, warranties, affirmative and negative covenants and other customary&#13;terms and conditions, including events of default (including upon the occurrence of an event of default with respect to any indebtedness&#13;owed by the Company) and remedies in favor of the lenders. The Credit Agreement also contains restrictions on the creation or&#13;incurrence of additional indebtedness and on distributions of funds from the Plant Owners to any affiliates of the Plant Owners,&#13;including the Company&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Credit&#13;Agreement also contains financial covenants concerning certain of the Plant Owners&amp;#146; budgeted expenses. Specifically, the&#13;Plant Owners shall not permit amounts disbursed pursuant to the categories in the budget related to the asset management agreement&#13;among the Plant Owners and the Company and operating disbursements to exceed their respective budgeted amounts by more than 10%.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Plant&#13;Owners have the right at any time, and from time to time, but subject to limitations imposed by an intercreditor agreement, to&#13;prepay the revolving loans under the Credit Agreement. The Credit Agreement also provides for mandatory prepayments in connection&#13;with certain customary events, including any sale of material assets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Intercreditor&#13;Agreement&lt;/u&gt;&lt;/i&gt; &amp;#150; On October 29, 2012, the Plant Owners entered into an Intercreditor Agreement (&amp;#147;Intercreditor&#13;Agreement&amp;#148;) with Wells Fargo Bank, National Association (&amp;#147;Agent&amp;#148;), as collateral agent. The Intercreditor Agreement&#13;provides, among other things, that the amounts owed by the Plant Owners under the Credit Agreement shall be senior in right and&#13;payment to the payment of amounts owed by the Plant Owners under the Restated Credit Agreement. In addition, pursuant to the terms&#13;of the Intercreditor Agreement, the lenders under the Restated Credit Agreement have agreed to continue, and make certain additional&#13;extensions of, credit to the Plant Owners pursuant to the terms of the Restated Credit Agreement, upon, among other terms and&#13;conditions, the conditions that (i) obligations of Plant Owners under the Restated Credit Agreement shall be secured by a second&#13;priority lien on, and security interests in, the collateral under the Restated Credit Agreement, and (ii) subject to the terms&#13;and conditions contained in the Intercreditor Agreement, the payment of certain obligations under the Restated Credit Agreement&#13;shall be subordinate and subject in right and time of payment to the prior discharge of amounts owed by the Plant Owners under&#13;the Credit Agreement.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Debt,&#13;Warrant and PE Holdco Interest Acquisitions&lt;/u&gt; &amp;#150; &lt;/i&gt;On December&amp;#160;19, 2012, the Company entered into a Securities Purchase&#13;Agreement (the &amp;#147;Purchase Agreement&amp;#148;) with 5 accredited investors (the &amp;#147;Investors&amp;#148;). Under the terms of&#13;the Purchase Agreement, the Company agreed to sell $22,192,491 in aggregate principal amount of its senior unsecured notes (the&#13;&amp;#147;Notes&amp;#148;) and 5-year warrants (the &amp;#147;Warrants&amp;#148;) to purchase an aggregate of 25,630,286 shares of the Company&amp;#146;s&#13;common stock at an exercise price of $0.52 per share, to the Investors in a private offering for aggregate gross proceeds of $22,192,491.&#13;&amp;#160; The sale of the Notes and the Warrants to the Investors closed on January 11, 2013 (the &amp;#147;Closing&amp;#148;).&amp;#160;&amp;#160;In&#13;connection with the sale of the Notes and the Warrants, the Company entered into a registration rights agreement with the Investors&#13;on January 11, 2013.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Of the&#13;gross proceeds, $21,538,596 was used to purchase from certain of the Investors an aggregate principal amount of $21,538,596 of&#13;Tranche A-2 Loans (the &amp;#147;Acquired Plant Debt&amp;#148;) issued under the Restated Credit Agreement. On January 11, 2013, the&#13;maturity date applicable to the Acquired Plant Debt was extended from June 30, 2013 to June 30, 2016.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Of the&#13;remaining gross proceeds, $653,895 was used to purchase from certain of the Investors 130.779 membership interest units of New&#13;PE Holdco LLC, increasing the Company&amp;#146;s ownership interests in New PE Holdco to 80%.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The&#13;Notes were issued at the Closing and have an aggregate principal amount of $22,192,491. The Notes will mature on March 30, 2016&#13;(the &amp;#147;Maturity Date&amp;#148;). The Notes bear interest at the rate of 5% per annum, subject to adjustment.&amp;#160;&amp;#160;If the&#13;aggregate outstanding principal balance of the Notes is not less than $10,769,297 by January 15, 2014, the interest rate will&#13;increase commencing on January 15, 2014 by 1% per annum on each calendar January 15, April 15, July 15 and October 15 until the&#13;aggregate outstanding principal balance of the Notes is less than $10,769,297. The interest rate will also increase by an additional&#13;2% per annum above the interest rate otherwise applicable upon the occurrence, and during the continuance, of an event of default&#13;until such event of default has been cured. The Company is required to pay all outstanding principal and any accrued and unpaid&#13;interest on the Notes on the Maturity Date. The Company may, at its option, prepay the Notes at any time without premium or penalty.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;If at&#13;any time the Company receives net cash proceeds from an issuance of equity or equity linked securities of the Company, certain&#13;sales of assets of the Company or any of its wholly or partially owned subsidiaries or as a result of the Company or any of its&#13;wholly or partially owned subsidiaries incurring certain indebtedness, then the Company will be obligated to prepay the Notes&#13;using 100% of all such net cash proceeds, provided that in connection with proceeds received in connection with an Equity Linked&#13;Issuance (as defined in the Notes), the Company will be obligated to use all such net cash proceeds to either prepay the Notes&#13;or purchase outstanding debt issued by its indirect partially owned subsidiaries under the Second Lien Credit Facility, in respective&#13;proportions established by the terms of the Notes.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Interest&#13;on the Notes is payable in cash in arrears on the 15&lt;sup&gt;th&lt;/sup&gt; calendar day of each month beginning on March 15, 2013 (each&#13;an &amp;#147;Interest Payment Date&amp;#148;). Subject to the satisfaction of the Equity Conditions (as defined in the Notes), at the&#13;option of the Company, the Company may elect to pay interest due and payable on any Interest Payment Date in shares of Common&#13;Stock, provided that the interest rate applicable to any outstanding amounts that Company pays in Interest Shares shall increase&#13;by 2% per annum from the then applicable interest rate for the period for which such interest is paid. The number of Interest&#13;Shares to be issued, at the Company&amp;#146;s election, on any particular Interest Payment Date shall equal to the quotient of (x)&#13;the amount of interest payable (assuming payment in Interest Shares) on such Interest Payment Date divided by (y) the product&#13;of (i) the weighted average price of the Common Stock for 30 trading days immediately preceding (but excluding) the Interest Payment&#13;Date and (ii) 0.95. If the Company cannot make an interest payment in shares of Common Stock because one of the conditions described&#13;above is not satisfied, the Company must make such payment in cash.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 11pt 0 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Preferred&#13;Dividends&lt;/u&gt; &amp;#150;&lt;/i&gt;On December 26, 2012, the Company entered into an agreement with the Series B Preferred Stock holders&#13;under which the Company issued approximately 2,169,000 shares of its common stock in payment of $732,000 of the total $6,583,000&#13;of accrued and unpaid dividends in respect of the Series B Preferred Stock. In addition, the holders of the Series B Preferred&#13;Stock agreed to forebear from exercising any rights they may have with respect to accrued unpaid dividends until June 30, 2014.&#13;The Company had accrued and unpaid dividends in respect of its Series B Preferred Stock of $5,851,000 as of December 31, 2012.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Related Party Note &amp;#150;&#13;&lt;/u&gt;&lt;/i&gt;On February 7, 2013, the Company entered into an amendment to the promissory note of $750,000, with the Company&amp;#146;s&#13;Chief Executive Officer, further extending its maturity date from March 31, 2013 to March 31, 2014.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Stock Incentive Plan&#13;-&lt;/u&gt;&lt;/i&gt; On December 13, 2012, upon approval by the Company&amp;#146;s stockholders, the Company amended its 2006 Stock Incentive&#13;Plan (the &amp;#147;Plan&amp;#148;) to increase the number of shares of common stock authorized for issuance under the 2006 Plan from&#13;1,214,285 shares to 6,214,285. In January 2013, the Company granted an aggregate of 2,168,708 shares of common stock to its directors&#13;and employees under the 2006 Plan.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Chief Operating Officer&#13;&lt;/u&gt;&lt;/i&gt;- On January 6, 2013, the Company entered into an executive employment agreement with Michael D. Kandris that appointed&#13;Mr. Kandris as the Company&amp;#146;s Chief Operating Officer.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</us-gaap:SubsequentEventsTextBlock>
    <us-gaap:SubsequentEventsTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Warrant&#13;exercises&lt;/u&gt;&lt;/i&gt; &amp;#150; In February 2012, certain holders of the 2010 Warrants exercised their 2010 Warrants with respect to&#13;252,101 shares of common stock on a cashless exercise basis, resulting in 172,269 net shares of common stock issued by the Company.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Note&#13;payable extension&lt;/u&gt;&lt;/i&gt; &amp;#150; On March 7, 2012, the Company extended the maturity date of its outstanding note payable to&#13;its Chief Executive Officer in the principal amount of $750,000 to March 31, 2013. No other terms were changed.&lt;/font&gt;&lt;/p&gt;</us-gaap:SubsequentEventsTextBlock>
    <us-gaap:NatureOfOperations contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Organization&#13;and Business&lt;/u&gt;&lt;/i&gt; &amp;#150; The consolidated financial statements include the accounts of Pacific Ethanol, Inc., a Delaware corporation&#13;(&amp;#147;Pacific Ethanol&amp;#148;), and its wholly-owned subsidiaries, including Kinergy Marketing LLC, an Oregon limited liability&#13;company (&amp;#147;Kinergy&amp;#148;) and its wholly-owned subsidiary Pacific Ag. Products, LLC, a California limited liability company&#13;(&amp;#147;PAP&amp;#148;) for all periods presented, and for the periods specified below, the Plant Owners (as defined below) (collectively,&#13;the &amp;#147;Company&amp;#148;).&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;The&#13;Company is the leading marketer and producer of low-carbon renewable fuels in the Western United States. The Company also sells&#13;ethanol co-products, including wet distillers grain and syrup (&amp;#147;WDG&amp;#148;), and provides transportation, storage and delivery&#13;of ethanol through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah,&#13;Oregon, Colorado, Idaho and Washington. The Company sells ethanol produced by the Pacific Ethanol Plants (as defined below) and&#13;unrelated third parties to gasoline refining and distribution companies and sells its WDG to dairy operators and animal feed distributors.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;manages the production and operation of the four ethanol production facilities, namely, Pacific Ethanol Madera LLC, Pacific Ethanol&#13;Columbia, LLC, Pacific Ethanol Stockton, LLC and Pacific Ethanol Magic Valley, LLC (collectively, the &amp;#147;Pacific Ethanol Plants&amp;#148;)&#13;and their holding company, Pacific Ethanol Holding Co. LLC (&amp;#147;PEHC,&amp;#148; and together with the Pacific Ethanol Plants,&#13;the &amp;#147;Plant Owners&amp;#148;). PEHC is a wholly-owned subsidiary of New PE Holdco LLC (&amp;#147;New PE Holdco&amp;#148;) which, in&#13;turn, is a subsidiary of the Company. These four facilities have an aggregate annual production capacity of up to 200 million&#13;gallons. As of September 30, 2012, three of the facilities were operating and one of the facilities was idled. When market conditions&#13;permit, and with approval of New PE Holdco, the Company intends to resume operations at the Madera, California facility.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;On October&#13;6, 2010, the Company purchased an initial 20% ownership interest in New PE Holdco, a variable interest entity (&amp;#147;VIE&amp;#148;),&#13;from a number of New PE Holdco&amp;#146;s owners. At that time, the Company determined it was the primary beneficiary of New PE Holdco,&#13;and as such, has consolidated the results of New PE Holdco since then. See Note 2 &amp;#150; Variable Interest Entity. On each of&#13;November 29, 2011 and December 19, 2011, the Company purchased an additional 7% ownership interest in New PE Holdco. Further,&#13;on July 13, 2012, the Company purchased an additional 33% ownership interest in New PE Holdco, bringing the Company&amp;#146;s total&#13;ownership interest in New PE Holdco to 67% as of September 30, 2012.&lt;/font&gt;&lt;/p&gt;</us-gaap:NatureOfOperations>
    <us-gaap:ScheduleOfVariableInterestEntitiesTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The carrying&#13;values and classification of assets that are collateral for the obligations of New PE Holdco consisted of the following (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;September 30, 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December 31, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 60%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Cash and cash equivalents&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;92&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,070&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Other current assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;13,368&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;14,320&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Property and equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;148,390&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;155,523&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Other assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,368&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,693&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt"&gt;&lt;font style="font-size: 8pt"&gt;Total assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;163,218&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;173,606&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 8pt"&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 60%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Current liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,063&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,064&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Long-term debt, including current portion&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;91,186&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;73,256&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Other liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;195&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;158&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt"&gt;&lt;font style="font-size: 8pt"&gt;Total liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;97,444&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;76,478&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;/p&gt;</us-gaap:ScheduleOfVariableInterestEntitiesTextBlock>
    <us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;September 30, 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;December 31, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 60%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Finished goods&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,089&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;9,429&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Work in progress&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,164&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,284&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Raw materials&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,273&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,334&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Other&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;848&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,084&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; padding-left: 22pt"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;14,374&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;16,131&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt; background-color: white"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt; background-color: white"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;/p&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
    <us-gaap:ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Realized Gains&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Nine Months Ended&#13;    September 30,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Type of Instrument&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Statements of Operations Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: rgb(238,238,238); vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 30%"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 35%"&gt;&lt;font style="font-size: 8pt"&gt;Cost of goods sold&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 11%"&gt;&lt;font style="font-size: 8pt"&gt;277&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right; width: 11%"&gt;&lt;font style="font-size: 8pt"&gt;460&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Unrealized Losses&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Nine Months Ended&#13;    September 30,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Type of Instrument&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Statements of Operations Location&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: rgb(238,238,238); vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 30%"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 35%"&gt;&lt;font style="font-size: 8pt"&gt;Cost of goods sold&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: right; width: 11%"&gt;&lt;font style="font-size: 8pt"&gt;(479&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: right; width: 11%"&gt;&lt;font style="font-size: 8pt"&gt;(126&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt; width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt; background-color: white"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</us-gaap:ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock>
    <us-gaap:ScheduleOfDebtInstrumentsTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;September 30, &lt;br /&gt;2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;December 31, &lt;br /&gt;&#13;    2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 60%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Kinergy operating line of credit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;17,158&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 16%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;20,432&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Senior unsecured notes&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;10,000&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Note payable to related party&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;750&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;750&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Plant Owners&amp;#146; term debt&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;52,687&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;51,279&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Plant Owners&amp;#146; operating line of credit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;38,500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;21,978&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;119,095&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;94,439&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Less short-term portion&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(50,105&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(750&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Long-term debt&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;68,990&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;93,689&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</us-gaap:ScheduleOfDebtInstrumentsTextBlock>
    <peix:SalesCommitmentsTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;font style="background-color: white"&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Fixed-Price Contracts&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 80%"&gt;&lt;font style="font-size: 8pt"&gt;Ethanol&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 15%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;70&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;WDG&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;521&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-indent: 13.7pt"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;591&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Indexed-Price Contracts&#13;    &lt;br /&gt;(Volume)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 80%; text-align: left; padding-left: 4.3pt"&gt;&lt;font style="font-size: 8pt"&gt;Ethanol (gallons)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 3%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 15%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;97,708&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-left: 4.3pt"&gt;&lt;font style="font-size: 8pt"&gt;WDG (tons)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;55&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;/p&gt;</peix:SalesCommitmentsTextBlock>
    <us-gaap:FairValueByBalanceSheetGroupingTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Original Issue&lt;br /&gt; Date&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Price&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Volatility&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Risk&lt;br /&gt;&#13;    Free Int&lt;br /&gt; Rate&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Term&lt;br /&gt;&#13;    (yrs)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Marketability&lt;br /&gt; Discount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&#13;    Fair Value&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 34%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;October 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.12&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;75.6%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.62%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5.10&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;48.0%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;43&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;December 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.84&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;77.7%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.47%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.21&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;55.9%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;585&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;July 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.50&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;76.8%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.62%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.76&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.5%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,351&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;July 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.43&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;73.9%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.17%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.26&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.5%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;858&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;September 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.59&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;74.1%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.31%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3.00&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;58.5%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;1,658&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; border-bottom: Black 2.5pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right; border-bottom: Black 2.5pt double"&gt;&lt;font style="font-size: 8pt"&gt;6,495&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="color: Red; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;As of December&#13;31, 2011:&lt;/u&gt;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Original Issue&lt;br /&gt; Date&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Exercise Price&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Volatility&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Risk&lt;br /&gt;&#13;    Free Int&lt;br /&gt; Rate&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Term&lt;br /&gt;&#13;    (yrs)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Marketability&lt;br /&gt; Discount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Fair&#13;    Value&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 34%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;October 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.45&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;68.0%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.09%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5.90&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;47.4%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;226&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;December 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.50&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;68.0%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.83%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.96&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;52.0%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;1,695&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; border-bottom: Black 2.5pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right; border-bottom: Black 2.5pt double"&gt;&lt;font style="font-size: 8pt"&gt;1,921&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;/p&gt;</us-gaap:FairValueByBalanceSheetGroupingTextBlock>
    <us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 85%"&gt;&lt;font style="font-size: 8pt"&gt;Balance, December 31, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,921&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Warrant exercises&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(112&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Adjustments to fair value for the period&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;33&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Balance, March 31, 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,842&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Adjustments to fair value for the period&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,285&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Balance, June 30, 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;557&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;July Offering&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,380&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;September Offering&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,658&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Adjustments to fair value for the period&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;900&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Balance, September 30, 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,495&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;/p&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock>
    <us-gaap:ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The following&#13;tables compute basic and diluted earnings per share (in thousands, except per share data):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Nine Months Ended&#13;    September 30, 2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Loss &lt;br /&gt;Numerator&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Denominator&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Per-Share&lt;br /&gt; Amount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 61%; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Net loss attributed to Pacific Ethanol&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(13,553&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: justify; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Less: Preferred stock dividends&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(949&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; text-indent: -8.05pt; padding-left: 8.05pt"&gt;&lt;font style="font-size: 8pt"&gt;Basic&#13;    and diluted loss per share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt"&gt;&lt;font style="font-size: 8pt"&gt;Loss&#13;    available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(14,502&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;96,203&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(0.15&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Nine Months Ended&#13;    September 30, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Income &lt;br /&gt; Numerator&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Shares Denominator&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Per-Share &lt;br /&gt; Amount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 61%; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Net income attributed to Pacific Ethanol&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,120&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Less: Preferred stock dividends&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(946&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt"&gt;&lt;font style="font-size: 8pt"&gt;Basic income per share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Income available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,174&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;21,230&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.20&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: justify; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;Add: Stock options&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;98&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt"&gt;&lt;font style="font-size: 8pt"&gt;Diluted income per&#13;    share:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt"&gt;&lt;font style="font-size: 8pt"&gt;Income&#13;    available to common stockholders&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,174&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;21,328&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.20&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</us-gaap:ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock>
    <us-gaap:InventoryFinishedGoods contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">9429000</us-gaap:InventoryFinishedGoods>
    <us-gaap:InventoryFinishedGoods contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">8089000</us-gaap:InventoryFinishedGoods>
    <us-gaap:InventoryWorkInProcess contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">4284000</us-gaap:InventoryWorkInProcess>
    <us-gaap:InventoryWorkInProcess contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">4164000</us-gaap:InventoryWorkInProcess>
    <us-gaap:InventoryRawMaterials contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">1334000</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">1273000</us-gaap:InventoryRawMaterials>
    <us-gaap:OtherInventorySupplies contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">1084000</us-gaap:OtherInventorySupplies>
    <us-gaap:OtherInventorySupplies contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">848000</us-gaap:OtherInventorySupplies>
    <us-gaap:InventoryNet contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">16131000</us-gaap:InventoryNet>
    <us-gaap:InventoryNet contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">17306000</us-gaap:InventoryNet>
    <us-gaap:InventoryNet contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">14374000</us-gaap:InventoryNet>
    <us-gaap:MediumTermNotes contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">51279000</us-gaap:MediumTermNotes>
    <us-gaap:MediumTermNotes contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">52687000</us-gaap:MediumTermNotes>
    <us-gaap:LongTermDebt contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">94439000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">119095000</us-gaap:LongTermDebt>
    <us-gaap:ShortTermBorrowings contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">-750000</us-gaap:ShortTermBorrowings>
    <us-gaap:ShortTermBorrowings contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">-50105000</us-gaap:ShortTermBorrowings>
    <us-gaap:LongTermDebtNoncurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">93689000</us-gaap:LongTermDebtNoncurrent>
    <us-gaap:LongTermDebtNoncurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">84981000</us-gaap:LongTermDebtNoncurrent>
    <us-gaap:LongTermDebtNoncurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">68990000</us-gaap:LongTermDebtNoncurrent>
    <peix:SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">591000</peix:SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts>
    <peix:SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts contextRef="AsOf2012-09-30_EthanolMember" unitRef="USD" decimals="-3">70000</peix:SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts>
    <peix:SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts contextRef="AsOf2012-09-30_WetDistillersGrainMember" unitRef="USD" decimals="-3">521000</peix:SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts>
    <us-gaap:FairValueAssumptionsExercisePrice contextRef="AsOf2011-12-31_WarrantsIssuedOctober2010Member" unitRef="USDPShares" decimals="INF">0.45</us-gaap:FairValueAssumptionsExercisePrice>
    <us-gaap:FairValueAssumptionsExercisePrice contextRef="AsOf2011-12-31_WarrantsIssuedDecember2011Member" unitRef="USDPShares" decimals="INF">1.5</us-gaap:FairValueAssumptionsExercisePrice>
    <us-gaap:FairValueAssumptionsExercisePrice contextRef="AsOf2012-09-30_WarrantsIssuedOctober2010Member" unitRef="USDPShares" decimals="INF">0.12</us-gaap:FairValueAssumptionsExercisePrice>
    <us-gaap:FairValueAssumptionsExercisePrice contextRef="AsOf2012-09-30_WarrantsIssuedDecember2011Member" unitRef="USDPShares" decimals="INF">.84</us-gaap:FairValueAssumptionsExercisePrice>
    <us-gaap:FairValueAssumptionsExercisePrice contextRef="AsOf2012-09-30_Warrants1IssuedJuly2012Member" unitRef="USDPShares" decimals="INF">.5</us-gaap:FairValueAssumptionsExercisePrice>
    <us-gaap:FairValueAssumptionsExercisePrice contextRef="AsOf2012-09-30_Warrants2IssuedJuly2012Member" unitRef="USDPShares" decimals="INF">.43</us-gaap:FairValueAssumptionsExercisePrice>
    <us-gaap:FairValueAssumptionsExercisePrice contextRef="AsOf2012-09-30_WarrantsIssuedSeptember2012Member" unitRef="USDPShares" decimals="INF">.59</us-gaap:FairValueAssumptionsExercisePrice>
    <us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="From2011-01-01to2011-12-31_WarrantsIssuedOctober2010Member" unitRef="Percent" decimals="INF">0.68</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="From2011-01-01to2011-12-31_WarrantsIssuedDecember2011Member" unitRef="Percent" decimals="INF">0.68</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="From2012-01-01to2012-09-30_WarrantsIssuedOctober2010Member" unitRef="Percent" decimals="INF">0.7560</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="From2012-01-01to2012-09-30_WarrantsIssuedDecember2011Member" unitRef="Percent" decimals="INF">.777</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="From2012-01-01to2012-09-30_Warrants1IssuedJuly2012Member" unitRef="Percent" decimals="INF">.768</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="From2012-01-01to2012-09-30_Warrants2IssuedJuly2012Member" unitRef="Percent" decimals="INF">.739</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="From2012-01-01to2012-09-30_WarrantsIssuedSeptember2012Member" unitRef="Percent" decimals="INF">.741</us-gaap:FairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="From2011-01-01to2011-12-31_WarrantsIssuedOctober2010Member" unitRef="Percent" decimals="INF">.0109</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
    <us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="From2011-01-01to2011-12-31_WarrantsIssuedDecember2011Member" unitRef="Percent" decimals="INF">0.0083</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
    <us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="From2012-01-01to2012-09-30_WarrantsIssuedOctober2010Member" unitRef="Percent" decimals="INF">0.0062</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
    <us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="From2012-01-01to2012-09-30_WarrantsIssuedDecember2011Member" unitRef="Percent" decimals="INF">.0047</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
    <us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="From2012-01-01to2012-09-30_Warrants1IssuedJuly2012Member" unitRef="Percent" decimals="INF">0.0062</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
    <us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="From2012-01-01to2012-09-30_Warrants2IssuedJuly2012Member" unitRef="Percent" decimals="INF">.0017</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
    <us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="From2012-01-01to2012-09-30_WarrantsIssuedSeptember2012Member" unitRef="Percent" decimals="INF">.0031</us-gaap:FairValueAssumptionsRiskFreeInterestRate>
    <us-gaap:FairValueAssumptionsExpectedTerm contextRef="From2011-01-01to2011-12-31_WarrantsIssuedOctober2010Member">P5Y11M2D</us-gaap:FairValueAssumptionsExpectedTerm>
    <us-gaap:FairValueAssumptionsExpectedTerm contextRef="From2011-01-01to2011-12-31_WarrantsIssuedDecember2011Member">P4Y11M16D</us-gaap:FairValueAssumptionsExpectedTerm>
    <us-gaap:FairValueAssumptionsExpectedTerm contextRef="From2012-01-01to2012-09-30_WarrantsIssuedOctober2010Member">P5Y1M7D</us-gaap:FairValueAssumptionsExpectedTerm>
    <us-gaap:FairValueAssumptionsExpectedTerm contextRef="From2012-01-01to2012-09-30_WarrantsIssuedDecember2011Member">P4Y3M17D</us-gaap:FairValueAssumptionsExpectedTerm>
    <us-gaap:FairValueAssumptionsExpectedTerm contextRef="From2012-01-01to2012-09-30_Warrants1IssuedJuly2012Member">P4Y9M10D</us-gaap:FairValueAssumptionsExpectedTerm>
    <us-gaap:FairValueAssumptionsExpectedTerm contextRef="From2012-01-01to2012-09-30_Warrants2IssuedJuly2012Member">P1Y3M1D</us-gaap:FairValueAssumptionsExpectedTerm>
    <us-gaap:FairValueAssumptionsExpectedTerm contextRef="From2012-01-01to2012-09-30_WarrantsIssuedSeptember2012Member">P3Y</us-gaap:FairValueAssumptionsExpectedTerm>
    <peix:FairValueAssumptionsMarketabilityDiscount contextRef="From2011-01-01to2011-12-31_WarrantsIssuedOctober2010Member" unitRef="Percent" decimals="INF">0.474</peix:FairValueAssumptionsMarketabilityDiscount>
    <peix:FairValueAssumptionsMarketabilityDiscount contextRef="From2011-01-01to2011-12-31_WarrantsIssuedDecember2011Member" unitRef="Percent" decimals="INF">0.520</peix:FairValueAssumptionsMarketabilityDiscount>
    <peix:FairValueAssumptionsMarketabilityDiscount contextRef="From2012-01-01to2012-09-30_WarrantsIssuedOctober2010Member" unitRef="Percent" decimals="INF">0.4800</peix:FairValueAssumptionsMarketabilityDiscount>
    <peix:FairValueAssumptionsMarketabilityDiscount contextRef="From2012-01-01to2012-09-30_WarrantsIssuedDecember2011Member" unitRef="Percent" decimals="INF">.559</peix:FairValueAssumptionsMarketabilityDiscount>
    <peix:FairValueAssumptionsMarketabilityDiscount contextRef="From2012-01-01to2012-09-30_Warrants1IssuedJuly2012Member" unitRef="Percent" decimals="INF">.575</peix:FairValueAssumptionsMarketabilityDiscount>
    <peix:FairValueAssumptionsMarketabilityDiscount contextRef="From2012-01-01to2012-09-30_Warrants2IssuedJuly2012Member" unitRef="Percent" decimals="INF">0.575</peix:FairValueAssumptionsMarketabilityDiscount>
    <peix:FairValueAssumptionsMarketabilityDiscount contextRef="From2012-01-01to2012-09-30_WarrantsIssuedSeptember2012Member" unitRef="Percent" decimals="INF">.585</peix:FairValueAssumptionsMarketabilityDiscount>
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">244000</us-gaap:AssetsFairValueDisclosure>
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">514000</us-gaap:AssetsFairValueDisclosure>
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel1Member_CommodityContractsMember" unitRef="USD" decimals="-3">244000</us-gaap:AssetsFairValueDisclosure>
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel2Member_CommodityContractsMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel3Member_CommodityContractsMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2011-12-31_CommodityContractsMember" unitRef="USD" decimals="INF">244000</us-gaap:AssetsFairValueDisclosure>
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel1Member" unitRef="USD" decimals="INF">244000</us-gaap:AssetsFairValueDisclosure>
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel2Member" unitRef="USD" xsi:nil="true" />
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2011-12-31_FairValueInputsLevel3Member" unitRef="USD" xsi:nil="true" />
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel1Member_CommodityContractsMember" unitRef="USD" decimals="INF">514000</us-gaap:AssetsFairValueDisclosure>
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel2Member_CommodityContractsMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel3Member_CommodityContractsMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2012-09-30_CommodityContractsMember" unitRef="USD" decimals="INF">514000</us-gaap:AssetsFairValueDisclosure>
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel1Member" unitRef="USD" decimals="INF">514000</us-gaap:AssetsFairValueDisclosure>
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel2Member" unitRef="USD" xsi:nil="true" />
    <us-gaap:AssetsFairValueDisclosure contextRef="AsOf2012-09-30_FairValueInputsLevel3Member" unitRef="USD" xsi:nil="true" />
    <invest:DerivativeNotionalAmount contextRef="AsOf2011-12-31" unitRef="USD" decimals="0">9186000</invest:DerivativeNotionalAmount>
    <invest:DerivativeNotionalAmount contextRef="AsOf2012-09-30" unitRef="USD" decimals="0">24102000</invest:DerivativeNotionalAmount>
    <peix:NewPeHoldcoOperatingLineOfCredit contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">21978000</peix:NewPeHoldcoOperatingLineOfCredit>
    <peix:NewPeHoldcoOperatingLineOfCredit contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">38500000</peix:NewPeHoldcoOperatingLineOfCredit>
    <us-gaap:LineOfCredit contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">20432000</us-gaap:LineOfCredit>
    <us-gaap:LineOfCredit contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">17158000</us-gaap:LineOfCredit>
    <us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">750000</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
    <us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">750000</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
    <us-gaap:PreferredStockValue contextRef="AsOf2012-09-30_SeriesAPreferredStockMember" unitRef="USD" decimals="-3">0</us-gaap:PreferredStockValue>
    <us-gaap:PreferredStockValue contextRef="AsOf2011-12-31_SeriesAPreferredStockMember" unitRef="USD" decimals="-3">0</us-gaap:PreferredStockValue>
    <us-gaap:PreferredStockValue contextRef="AsOf2012-09-30_SeriesBPreferredStockMember" unitRef="USD" decimals="-3">1000</us-gaap:PreferredStockValue>
    <us-gaap:PreferredStockValue contextRef="AsOf2011-12-31_SeriesBPreferredStockMember" unitRef="USD" decimals="-3">1000</us-gaap:PreferredStockValue>
    <us-gaap:DividendsPayableCurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">7315000</us-gaap:DividendsPayableCurrent>
    <us-gaap:DividendsPayableCurrent contextRef="AsOf2012-09-30" unitRef="USD" xsi:nil="true" />
    <peix:LongAndShortTermDebt contextRef="AsOf2012-09-30_VIEBalanceSheetMember" unitRef="USD" decimals="-3">91186000</peix:LongAndShortTermDebt>
    <peix:LongAndShortTermDebt contextRef="AsOf2011-12-31_VIEBalanceSheetMember" unitRef="USD" decimals="-3">73256000</peix:LongAndShortTermDebt>
    <peix:CashAndCashEquivalentsVIE contextRef="AsOf2012-09-30_VIEBalanceSheetMember" unitRef="USD" decimals="-3">92000</peix:CashAndCashEquivalentsVIE>
    <peix:CashAndCashEquivalentsVIE contextRef="AsOf2011-12-31_VIEBalanceSheetMember" unitRef="USD" decimals="-3">2070000</peix:CashAndCashEquivalentsVIE>
    <peix:OtherCurrentAssetsVIE contextRef="AsOf2012-09-30_VIEBalanceSheetMember" unitRef="USD" decimals="-3">13368000</peix:OtherCurrentAssetsVIE>
    <peix:OtherCurrentAssetsVIE contextRef="AsOf2011-12-31_VIEBalanceSheetMember" unitRef="USD" decimals="-3">14320000</peix:OtherCurrentAssetsVIE>
    <peix:PropertyAndEquipmentVIE contextRef="AsOf2012-09-30_VIEBalanceSheetMember" unitRef="USD" decimals="-3">148390000</peix:PropertyAndEquipmentVIE>
    <peix:PropertyAndEquipmentVIE contextRef="AsOf2011-12-31_VIEBalanceSheetMember" unitRef="USD" decimals="-3">155523000</peix:PropertyAndEquipmentVIE>
    <peix:OtherAssetsVIE contextRef="AsOf2012-09-30_VIEBalanceSheetMember" unitRef="USD" decimals="-3">1368000</peix:OtherAssetsVIE>
    <peix:OtherAssetsVIE contextRef="AsOf2011-12-31_VIEBalanceSheetMember" unitRef="USD" decimals="-3">1693000</peix:OtherAssetsVIE>
    <peix:TotalAssetsVIE contextRef="AsOf2012-09-30_VIEBalanceSheetMember" unitRef="USD" decimals="-3">163218000</peix:TotalAssetsVIE>
    <peix:TotalAssetsVIE contextRef="AsOf2011-12-31_VIEBalanceSheetMember" unitRef="USD" decimals="-3">173606000</peix:TotalAssetsVIE>
    <peix:CurrentLiabilitiesVIE contextRef="AsOf2012-09-30_VIEBalanceSheetMember" unitRef="USD" decimals="-3">6063000</peix:CurrentLiabilitiesVIE>
    <peix:CurrentLiabilitiesVIE contextRef="AsOf2011-12-31_VIEBalanceSheetMember" unitRef="USD" decimals="-3">3064000</peix:CurrentLiabilitiesVIE>
    <peix:OtherLiabilitiesVIE contextRef="AsOf2012-09-30_VIEBalanceSheetMember" unitRef="USD" decimals="-3">195000</peix:OtherLiabilitiesVIE>
    <peix:OtherLiabilitiesVIE contextRef="AsOf2011-12-31_VIEBalanceSheetMember" unitRef="USD" decimals="-3">158000</peix:OtherLiabilitiesVIE>
    <peix:TotalLiabilitiesVIE contextRef="AsOf2012-09-30_VIEBalanceSheetMember" unitRef="USD" decimals="-3">97444000</peix:TotalLiabilitiesVIE>
    <peix:TotalLiabilitiesVIE contextRef="AsOf2011-12-31_VIEBalanceSheetMember" unitRef="USD" decimals="-3">76478000</peix:TotalLiabilitiesVIE>
    <us-gaap:OtherAccruedLiabilitiesNoncurrent contextRef="AsOf2011-12-31" unitRef="USD" xsi:nil="true" />
    <us-gaap:OtherAccruedLiabilitiesNoncurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">6050000</us-gaap:OtherAccruedLiabilitiesNoncurrent>
    <us-gaap:OtherAccruedLiabilitiesNoncurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">6583000</us-gaap:OtherAccruedLiabilitiesNoncurrent>
    <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">8914000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
    <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">8736000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
    <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">18671000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
    <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="AsOf2011-09-30" unitRef="USD" decimals="-3">16808000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
    <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="AsOf2009-12-31" unitRef="USD" decimals="-3">17545000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
    <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="From2012-01-01to2012-09-30" unitRef="Shares" decimals="INF">96203</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
    <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="From2011-01-01to2011-09-30" unitRef="Shares" decimals="INF">21328</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
    <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="From2011-01-01to2011-12-31" unitRef="Shares" decimals="INF">33984</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
    <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="From2010-01-01to2010-12-31" unitRef="Shares" decimals="INF">13377</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="From2012-01-01to2012-09-30" unitRef="Shares" decimals="INF">96203</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="From2011-01-01to2011-09-30" unitRef="Shares" decimals="INF">21230</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="From2011-01-01to2011-12-31" unitRef="Shares" decimals="INF">33733</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="From2010-01-01to2010-12-31" unitRef="Shares" decimals="INF">10514</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:EarningsPerShareBasicAndDiluted contextRef="From2012-01-01to2012-09-30" unitRef="USDPShares" decimals="INF">-0.15</us-gaap:EarningsPerShareBasicAndDiluted>
    <us-gaap:EarningsPerShareBasicAndDiluted contextRef="From2011-01-01to2011-09-30" unitRef="USDPShares" decimals="INF">0.2</us-gaap:EarningsPerShareBasicAndDiluted>
    <us-gaap:EarningsPerShareBasicAndDiluted contextRef="From2011-01-01to2011-12-31" unitRef="USDPShares" decimals="INF">0.05</us-gaap:EarningsPerShareBasicAndDiluted>
    <us-gaap:EarningsPerShareBasicAndDiluted contextRef="From2010-01-01to2010-12-31" unitRef="USDPShares" decimals="INF">6.76</us-gaap:EarningsPerShareBasicAndDiluted>
    <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-14502000</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
    <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">4174000</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
    <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">1809000</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
    <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">71045000</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
    <us-gaap:DividendsPreferredStock contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">949000</us-gaap:DividendsPreferredStock>
    <us-gaap:DividendsPreferredStock contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">946000</us-gaap:DividendsPreferredStock>
    <us-gaap:DividendsPreferredStock contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">1265000</us-gaap:DividendsPreferredStock>
    <us-gaap:DividendsPreferredStock contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">2847000</us-gaap:DividendsPreferredStock>
    <us-gaap:NetIncomeLoss contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-13553000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">5120000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">3074000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">73892000</us-gaap:NetIncomeLoss>
    <us-gaap:IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-20191000</us-gaap:IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity>
    <us-gaap:IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-9905000</us-gaap:IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity>
    <us-gaap:IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-7097000</us-gaap:IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity>
    <us-gaap:IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-4409000</us-gaap:IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity>
    <us-gaap:ProfitLoss contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-33744000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-4785000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-4023000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">69483000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss contextRef="From2010-01-01to2010-12-31_RetainedEarningsMember" unitRef="USD" decimals="-3">73892000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss contextRef="From2011-01-01to2011-12-31_RetainedEarningsMember" unitRef="USD" decimals="-3">3074000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss contextRef="From2010-01-01to2010-12-31_NoncontrollingInterestMember" unitRef="USD" decimals="-3">-4409000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss contextRef="From2011-01-01to2011-12-31_NoncontrollingInterestMember" unitRef="USD" decimals="-3">-7097000</us-gaap:ProfitLoss>
    <us-gaap:IncomeTaxExpenseBenefit contextRef="From2012-01-01to2012-09-30" unitRef="USD" xsi:nil="true" />
    <us-gaap:IncomeTaxExpenseBenefit contextRef="From2011-01-01to2011-09-30" unitRef="USD" xsi:nil="true" />
    <us-gaap:IncomeTaxExpenseBenefit contextRef="From2011-01-01to2011-12-31" unitRef="USD" xsi:nil="true" />
    <us-gaap:IncomeTaxExpenseBenefit contextRef="From2010-01-01to2010-12-31" unitRef="USD" xsi:nil="true" />
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-33744000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-4785000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-4023000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-45772000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:OtherGeneralExpense contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">499000</us-gaap:OtherGeneralExpense>
    <us-gaap:OtherGeneralExpense contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">709000</us-gaap:OtherGeneralExpense>
    <us-gaap:OtherGeneralExpense contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">741000</us-gaap:OtherGeneralExpense>
    <us-gaap:OtherGeneralExpense contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-840000</us-gaap:OtherGeneralExpense>
    <us-gaap:InterestExpense contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">9380000</us-gaap:InterestExpense>
    <us-gaap:InterestExpense contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">11337000</us-gaap:InterestExpense>
    <us-gaap:InterestExpense contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">14813000</us-gaap:InterestExpense>
    <us-gaap:InterestExpense contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">6804000</us-gaap:InterestExpense>
    <peix:FairValueAdjustmentsOnConvertibleDebtAndWarrants contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">352000</peix:FairValueAdjustmentsOnConvertibleDebtAndWarrants>
    <peix:FairValueAdjustmentsOnConvertibleDebtAndWarrants contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">6968000</peix:FairValueAdjustmentsOnConvertibleDebtAndWarrants>
    <peix:FairValueAdjustmentsOnConvertibleDebtAndWarrants contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">7559000</peix:FairValueAdjustmentsOnConvertibleDebtAndWarrants>
    <peix:FairValueAdjustmentsOnConvertibleDebtAndWarrants contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-11736000</peix:FairValueAdjustmentsOnConvertibleDebtAndWarrants>
    <us-gaap:OperatingIncomeLoss contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-24217000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">293000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">3972000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-13767000</us-gaap:OperatingIncomeLoss>
    <us-gaap:SellingGeneralAndAdministrativeExpense contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">9400000</us-gaap:SellingGeneralAndAdministrativeExpense>
    <us-gaap:SellingGeneralAndAdministrativeExpense contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">11742000</us-gaap:SellingGeneralAndAdministrativeExpense>
    <us-gaap:SellingGeneralAndAdministrativeExpense contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">15427000</us-gaap:SellingGeneralAndAdministrativeExpense>
    <us-gaap:SellingGeneralAndAdministrativeExpense contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">12956000</us-gaap:SellingGeneralAndAdministrativeExpense>
    <us-gaap:GrossProfit contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-14817000</us-gaap:GrossProfit>
    <us-gaap:GrossProfit contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">12035000</us-gaap:GrossProfit>
    <us-gaap:GrossProfit contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">19399000</us-gaap:GrossProfit>
    <us-gaap:GrossProfit contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-811000</us-gaap:GrossProfit>
    <us-gaap:CostOfGoodsSold contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">633843000</us-gaap:CostOfGoodsSold>
    <us-gaap:CostOfGoodsSold contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">647355000</us-gaap:CostOfGoodsSold>
    <us-gaap:CostOfGoodsSold contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">881789000</us-gaap:CostOfGoodsSold>
    <us-gaap:CostOfGoodsSold contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">329143000</us-gaap:CostOfGoodsSold>
    <us-gaap:SalesRevenueNet contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">619026000</us-gaap:SalesRevenueNet>
    <us-gaap:SalesRevenueNet contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">659390000</us-gaap:SalesRevenueNet>
    <us-gaap:SalesRevenueNet contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">901188000</us-gaap:SalesRevenueNet>
    <us-gaap:SalesRevenueNet contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">328332000</us-gaap:SalesRevenueNet>
    <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-11422000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
    <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-7560000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
    <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-3950000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
    <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-36921000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
    <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">5492000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
    <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">3920000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
    <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-2358000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
    <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-1968000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
    <us-gaap:IncreaseDecreaseInOtherCurrentAssets contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">3144000</us-gaap:IncreaseDecreaseInOtherCurrentAssets>
    <us-gaap:IncreaseDecreaseInOtherCurrentAssets contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-3466000</us-gaap:IncreaseDecreaseInOtherCurrentAssets>
    <us-gaap:IncreaseDecreaseInOtherCurrentAssets contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-6524000</us-gaap:IncreaseDecreaseInOtherCurrentAssets>
    <us-gaap:IncreaseDecreaseInOtherCurrentAssets contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">477000</us-gaap:IncreaseDecreaseInOtherCurrentAssets>
    <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">1480000</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
    <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-368000</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
    <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-933000</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
    <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-516000</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
    <us-gaap:IncreaseDecreaseInInventories contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">1482000</us-gaap:IncreaseDecreaseInInventories>
    <us-gaap:IncreaseDecreaseInInventories contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-5280000</us-gaap:IncreaseDecreaseInInventories>
    <us-gaap:IncreaseDecreaseInInventories contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">1128000</us-gaap:IncreaseDecreaseInInventories>
    <us-gaap:IncreaseDecreaseInInventories contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-7462000</us-gaap:IncreaseDecreaseInInventories>
    <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">642000</us-gaap:IncreaseDecreaseInAccountsReceivable>
    <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-2204000</us-gaap:IncreaseDecreaseInAccountsReceivable>
    <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-2067000</us-gaap:IncreaseDecreaseInAccountsReceivable>
    <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-13789000</us-gaap:IncreaseDecreaseInAccountsReceivable>
    <us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts contextRef="From2012-07-01to2012-09-30" unitRef="USD" decimals="-3">-15000</us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts>
    <us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts contextRef="From2011-07-01to2011-09-30" unitRef="USD" decimals="-3">-45000</us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts>
    <us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-15000</us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts>
    <us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-185000</us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts>
    <us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-218000</us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts>
    <us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-184000</us-gaap:AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts>
    <us-gaap:UnrealizedGainLossOnDerivatives contextRef="From2012-01-01to2012-09-30_NondesignatedMember_CommodityContractMember_CostOfSalesMember" unitRef="USD" decimals="-3">-479000</us-gaap:UnrealizedGainLossOnDerivatives>
    <us-gaap:UnrealizedGainLossOnDerivatives contextRef="From2011-01-01to2011-09-30_NondesignatedMember_CommodityContractMember_CostOfSalesMember" unitRef="USD" decimals="-3">-126000</us-gaap:UnrealizedGainLossOnDerivatives>
    <us-gaap:UnrealizedGainLossOnDerivatives contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-96000</us-gaap:UnrealizedGainLossOnDerivatives>
    <us-gaap:UnrealizedGainLossOnDerivatives contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-1049000</us-gaap:UnrealizedGainLossOnDerivatives>
    <us-gaap:OtherNoncashExpense contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">705000</us-gaap:OtherNoncashExpense>
    <us-gaap:OtherNoncashExpense contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">1978000</us-gaap:OtherNoncashExpense>
    <us-gaap:OtherNoncashExpense contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">2278000</us-gaap:OtherNoncashExpense>
    <us-gaap:OtherNoncashExpense contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">2471000</us-gaap:OtherNoncashExpense>
    <us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">455000</us-gaap:AmortizationOfFinancingCostsAndDiscounts>
    <us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">485000</us-gaap:AmortizationOfFinancingCostsAndDiscounts>
    <us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">651000</us-gaap:AmortizationOfFinancingCostsAndDiscounts>
    <us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">1001000</us-gaap:AmortizationOfFinancingCostsAndDiscounts>
    <us-gaap:InventoryWriteDown contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">275000</us-gaap:InventoryWriteDown>
    <us-gaap:InventoryWriteDown contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">157000</us-gaap:InventoryWriteDown>
    <us-gaap:InventoryWriteDown contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">47000</us-gaap:InventoryWriteDown>
    <us-gaap:InventoryWriteDown contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-490000</us-gaap:InventoryWriteDown>
    <us-gaap:AmortizationOfIntangibleAssets contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">9216000</us-gaap:AmortizationOfIntangibleAssets>
    <us-gaap:AmortizationOfIntangibleAssets contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">9490000</us-gaap:AmortizationOfIntangibleAssets>
    <us-gaap:AmortizationOfIntangibleAssets contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">12648000</us-gaap:AmortizationOfIntangibleAssets>
    <us-gaap:AmortizationOfIntangibleAssets contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">9110000</us-gaap:AmortizationOfIntangibleAssets>
    <us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">33294000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
    <us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">17091000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
    <us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">15610000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
    <us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">41536000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
    <us-gaap:PaymentsOfDividendsPreferredStockAndPreferenceStock contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">949000</us-gaap:PaymentsOfDividendsPreferredStockAndPreferenceStock>
    <us-gaap:PaymentsOfDividendsPreferredStockAndPreferenceStock contextRef="From2011-01-01to2011-09-30" unitRef="USD" xsi:nil="true" />
    <us-gaap:ProceedsFromOtherDebt contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">13249000</us-gaap:ProceedsFromOtherDebt>
    <us-gaap:ProceedsFromOtherDebt contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">17091000</us-gaap:ProceedsFromOtherDebt>
    <us-gaap:ProceedsFromOtherDebt contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">9958000</us-gaap:ProceedsFromOtherDebt>
    <us-gaap:ProceedsFromOtherDebt contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">17522000</us-gaap:ProceedsFromOtherDebt>
    <us-gaap:ProceedsFromIssuanceOrSaleOfEquity contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">20994000</us-gaap:ProceedsFromIssuanceOrSaleOfEquity>
    <us-gaap:ProceedsFromIssuanceOrSaleOfEquity contextRef="From2011-01-01to2011-09-30" unitRef="USD" xsi:nil="true" />
    <us-gaap:ProceedsFromIssuanceOrSaleOfEquity contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">7364000</us-gaap:ProceedsFromIssuanceOrSaleOfEquity>
    <us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-12115000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
    <us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-1459000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
    <us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-11482000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
    <us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-13424000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
    <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">2115000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
    <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">1459000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
    <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">2365000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
    <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">643000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
    <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">9757000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
    <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">8072000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
    <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">178000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
    <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-8809000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
    <peix:NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">10000000</peix:NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity>
    <peix:NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity contextRef="From2011-01-01to2011-09-30" unitRef="USD" xsi:nil="true" />
    <us-gaap:StockIssuedDuringPeriodValueOther contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">732000</us-gaap:StockIssuedDuringPeriodValueOther>
    <us-gaap:StockIssuedDuringPeriodValueOther contextRef="From2011-01-01to2011-09-30" unitRef="USD" xsi:nil="true" />
    <us-gaap:InterestPaidNet contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">7504000</us-gaap:InterestPaidNet>
    <us-gaap:InterestPaidNet contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">8047000</us-gaap:InterestPaidNet>
    <us-gaap:InterestPaidNet contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">11669000</us-gaap:InterestPaidNet>
    <us-gaap:InterestPaidNet contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">9771000</us-gaap:InterestPaidNet>
    <us-gaap:InterestCostsCapitalized contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">1407000</us-gaap:InterestCostsCapitalized>
    <us-gaap:InterestCostsCapitalized contextRef="From2011-01-01to2011-09-30" unitRef="USD" xsi:nil="true" />
    <peix:PreferredStockDividendsAccrued contextRef="From2012-01-01to2012-09-30" unitRef="USD" xsi:nil="true" />
    <peix:PreferredStockDividendsAccrued contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">946000</peix:PreferredStockDividendsAccrued>
    <peix:PreferredStockDividendsAccrued contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">1265000</peix:PreferredStockDividendsAccrued>
    <peix:PreferredStockDividendsAccrued contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">2847000</peix:PreferredStockDividendsAccrued>
    <us-gaap:StockIssuedDuringPeriodValueIssuedForNoncashConsiderations contextRef="From2012-01-01to2012-09-30" unitRef="USD" xsi:nil="true" />
    <us-gaap:StockIssuedDuringPeriodValueIssuedForNoncashConsiderations contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">25388000</us-gaap:StockIssuedDuringPeriodValueIssuedForNoncashConsiderations>
    <us-gaap:StockIssuedDuringPeriodValueIssuedForNoncashConsiderations contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">33788000</us-gaap:StockIssuedDuringPeriodValueIssuedForNoncashConsiderations>
    <us-gaap:StockIssuedDuringPeriodValueIssuedForNoncashConsiderations contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">19000000</us-gaap:StockIssuedDuringPeriodValueIssuedForNoncashConsiderations>
    <us-gaap:FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 8pt"&gt;The following table summarizes fair&#13;value measurements by level at September 30, 2012 (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    1&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    2&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    3&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"&gt;&lt;font style="font-size: 8pt"&gt;Assets:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts(1)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;514&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;514&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"&gt;&lt;font style="font-size: 8pt"&gt;Total&#13;    Assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;514&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;514&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;&lt;font style="font-size: 8pt"&gt;__________&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;&lt;font style="font-size: 8pt"&gt;(1)&#13;Included in other current assets in the consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    1&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    2&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    3&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"&gt;&lt;font style="font-size: 8pt"&gt;Liabilities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 48%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,495&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,495&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts(1)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;291&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;291&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"&gt;&lt;font style="font-size: 8pt"&gt;Total&#13;    Liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;291&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,495&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,786&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 8pt"&gt;__________&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&lt;font style="font-size: 8pt"&gt;(1) Included&#13;in accrued liabilities in the consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 8pt"&gt;The following tables summarize fair&#13;value measurements by level at December 31, 2011 (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    1&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    2&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    3&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"&gt;&lt;font style="font-size: 8pt"&gt;Assets:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts(1)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"&gt;&lt;font style="font-size: 8pt"&gt;Total&#13;    Assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;244&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;&lt;font style="font-size: 8pt"&gt;__________&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&lt;font style="font-size: 8pt"&gt;(1) Included&#13;in other current assets in the consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    1&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    2&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Level&#13;    3&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"&gt;&lt;font style="font-size: 8pt"&gt;Liabilities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="width: 48%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;Warrants(1)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,921&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,921&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"&gt;&lt;font style="font-size: 8pt"&gt;Commodity contracts(2)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"&gt;&lt;font style="font-size: 8pt"&gt;Total&#13;    Liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;500&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#150;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,921&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,421&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;&lt;font style="font-size: 8pt"&gt;__________&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;&lt;font style="font-size: 8pt"&gt;(1)&#13;Included in other liabilities in the consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"&gt;&lt;font style="font-size: 8pt"&gt;(2)&#13;Included in accrued liabilities in the consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</us-gaap:FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock>
    <us-gaap:AllowanceForDoubtfulAccountsReceivable contextRef="AsOf2011-12-31" unitRef="USD" decimals="0">24000</us-gaap:AllowanceForDoubtfulAccountsReceivable>
    <us-gaap:AllowanceForDoubtfulAccountsReceivable contextRef="AsOf2012-09-30" unitRef="USD" decimals="0">9000</us-gaap:AllowanceForDoubtfulAccountsReceivable>
    <us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="0">-23288000</us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss>
    <us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="0">-1311000</us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss>
    <us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic contextRef="From2012-01-01to2012-09-30" unitRef="USDPShares" decimals="INF">-0.21</us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic>
    <us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic contextRef="From2011-01-01to2011-09-30" unitRef="USDPShares" decimals="INF">-0.03</us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic>
    <us-gaap:PaymentsToAcquireBusinessesAndInterestInAffiliates contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">10000000</us-gaap:PaymentsToAcquireBusinessesAndInterestInAffiliates>
    <us-gaap:PaymentsToAcquireBusinessesAndInterestInAffiliates contextRef="From2011-01-01to2011-09-30" unitRef="USD" xsi:nil="true" />
    <us-gaap:DerivativeInstrumentsGainRecognizedInIncome contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="0">202000</us-gaap:DerivativeInstrumentsGainRecognizedInIncome>
    <us-gaap:DerivativeInstrumentsGainRecognizedInIncome contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="0">334000</us-gaap:DerivativeInstrumentsGainRecognizedInIncome>
    <us-gaap:DerivativeInstrumentsGainLossRecognizedInIncomeNet contextRef="From2012-01-01to2012-09-30_NondesignatedMember_CommodityContractMember_CostOfSalesMember" unitRef="USD" decimals="-3">277000</us-gaap:DerivativeInstrumentsGainLossRecognizedInIncomeNet>
    <us-gaap:DerivativeInstrumentsGainLossRecognizedInIncomeNet contextRef="From2011-01-01to2011-09-30_NondesignatedMember_CommodityContractMember_CostOfSalesMember" unitRef="USD" decimals="-3">460000</us-gaap:DerivativeInstrumentsGainLossRecognizedInIncomeNet>
    <us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="0">500000</us-gaap:AccruedLiabilitiesCurrentAndNoncurrent>
    <us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="0">291000</us-gaap:AccruedLiabilitiesCurrentAndNoncurrent>
    <peix:NonDesignatedDerivativeOtherAssets contextRef="AsOf2011-12-31" unitRef="USD" decimals="0">244000</peix:NonDesignatedDerivativeOtherAssets>
    <peix:NonDesignatedDerivativeOtherAssets contextRef="AsOf2012-09-30" unitRef="USD" decimals="0">514000</peix:NonDesignatedDerivativeOtherAssets>
    <us-gaap:SeniorNotes contextRef="AsOf2011-12-31" unitRef="USD" xsi:nil="true" />
    <us-gaap:SeniorNotes contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">10000000</us-gaap:SeniorNotes>
    <us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity contextRef="AsOf2012-09-30_KinergyMember" unitRef="USD" decimals="0">4200000</us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity>
    <us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity contextRef="AsOf2012-09-30_PlantOwnersMember" unitRef="USD" decimals="0">700000</us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity>
    <us-gaap:LineOfCreditFacilityIncreaseAdditionalBorrowings contextRef="From2012-01-01to2012-09-30_PlantOwnersMember" unitRef="USD" decimals="0">16522000</us-gaap:LineOfCreditFacilityIncreaseAdditionalBorrowings>
    <peix:RecordedInterestNotesPayableRelatedParty contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="0">45000</peix:RecordedInterestNotesPayableRelatedParty>
    <peix:RecordedInterestNotesPayableRelatedParty contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="0">60000</peix:RecordedInterestNotesPayableRelatedParty>
    <peix:NetSharesOfCommonStockIssued contextRef="From2012-01-01to2012-09-30" unitRef="Shares" decimals="INF">172269</peix:NetSharesOfCommonStockIssued>
    <peix:ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis contextRef="From2012-01-01to2012-09-30" unitRef="Shares" decimals="INF">252101</peix:ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis>
    <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="From2012-01-01to2012-09-30" unitRef="Shares" decimals="INF">50000</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
    <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="0">26500</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
    <us-gaap:SignificantPurchaseCommitmentRemainingMinimumAmountCommitted contextRef="AsOf2012-09-30_EthanolMember" unitRef="USD" decimals="0">14153000</us-gaap:SignificantPurchaseCommitmentRemainingMinimumAmountCommitted>
    <peix:JulyOffering contextRef="From2012-01-01to2012-09-30_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">3380000</peix:JulyOffering>
    <peix:JulyOffering contextRef="From2012-07-01to2012-09-30_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">3380000</peix:JulyOffering>
    <peix:SeptemberOffering contextRef="From2012-01-01to2012-09-30_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">1658000</peix:SeptemberOffering>
    <peix:SeptemberOffering contextRef="From2012-07-01to2012-09-30_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">1658000</peix:SeptemberOffering>
    <peix:FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue contextRef="From2012-01-01to2012-09-30_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">-112000</peix:FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue>
    <peix:FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue contextRef="From2012-01-01to2012-03-31_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">-112000</peix:FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue>
    <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements contextRef="From2012-01-01to2012-03-31_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">33000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements>
    <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements contextRef="From2012-04-01to2012-06-30_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">-1285000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements>
    <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements contextRef="From2012-07-01to2012-09-30_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">900000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements>
    <us-gaap:PreferredStockDividendsAndOtherAdjustments contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-949000</us-gaap:PreferredStockDividendsAndOtherAdjustments>
    <us-gaap:PreferredStockDividendsAndOtherAdjustments contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-946000</us-gaap:PreferredStockDividendsAndOtherAdjustments>
    <us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-14502000</us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted>
    <us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">4174000</us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted>
    <us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted contextRef="From2012-01-01to2012-09-30" unitRef="Shares" decimals="INF">96203</us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted>
    <us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted contextRef="From2011-01-01to2011-09-30" unitRef="Shares" decimals="INF">21328</us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted>
    <peix:ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare contextRef="From2011-01-01to2011-09-30" unitRef="Shares" decimals="INF">3300000</peix:ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare>
    <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue contextRef="AsOf2011-12-31_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">1921000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
    <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue contextRef="AsOf2012-09-30_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">6495000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
    <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue contextRef="AsOf2012-03-31_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">1842000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
    <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue contextRef="AsOf2012-06-30_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">557000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
    <us-gaap:CommitmentsAndContingencies contextRef="AsOf2011-12-31" unitRef="USD" xsi:nil="true" />
    <us-gaap:CommitmentsAndContingencies contextRef="AsOf2012-09-30" unitRef="USD" xsi:nil="true" />
    <us-gaap:LongTermDebtCurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">750000</us-gaap:LongTermDebtCurrent>
    <us-gaap:LongTermDebtCurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">38108000</us-gaap:LongTermDebtCurrent>
    <us-gaap:LongTermDebtCurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">50105000</us-gaap:LongTermDebtCurrent>
    <peix:WarrantLiabilities contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">1921000</peix:WarrantLiabilities>
    <peix:WarrantLiabilities contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">6495000</peix:WarrantLiabilities>
    <peix:WarrantLiabilities contextRef="AsOf2011-12-31_WarrantsIssuedOctober2010Member" unitRef="USD" decimals="-3">226000</peix:WarrantLiabilities>
    <peix:WarrantLiabilities contextRef="AsOf2011-12-31_WarrantsIssuedDecember2011Member" unitRef="USD" decimals="-3">1695000</peix:WarrantLiabilities>
    <peix:WarrantLiabilities contextRef="AsOf2012-09-30_WarrantsIssuedOctober2010Member" unitRef="USD" decimals="-3">43000</peix:WarrantLiabilities>
    <peix:WarrantLiabilities contextRef="AsOf2012-09-30_WarrantsIssuedDecember2011Member" unitRef="USD" decimals="-3">585000</peix:WarrantLiabilities>
    <peix:WarrantLiabilities contextRef="AsOf2012-09-30_Warrants1IssuedJuly2012Member" unitRef="USD" decimals="-3">3351000</peix:WarrantLiabilities>
    <peix:WarrantLiabilities contextRef="AsOf2012-09-30_Warrants2IssuedJuly2012Member" unitRef="USD" decimals="-3">858000</peix:WarrantLiabilities>
    <peix:WarrantLiabilities contextRef="AsOf2012-09-30_WarrantsIssuedSeptember2012Member" unitRef="USD" decimals="-3">1658000</peix:WarrantLiabilities>
    <peix:LineOfCreditCollateralUsed contextRef="AsOf2011-12-31" unitRef="USD" decimals="0">23715000</peix:LineOfCreditCollateralUsed>
    <peix:LineOfCreditCollateralUsed contextRef="AsOf2012-09-30" unitRef="USD" decimals="0">25540000</peix:LineOfCreditCollateralUsed>
    <us-gaap:IncreaseDecreaseInDerivativeAssetsAndLiabilities contextRef="From2012-01-01to2012-09-30" unitRef="USD" decimals="-3">-202000</us-gaap:IncreaseDecreaseInDerivativeAssetsAndLiabilities>
    <us-gaap:IncreaseDecreaseInDerivativeAssetsAndLiabilities contextRef="From2011-01-01to2011-09-30" unitRef="USD" decimals="-3">-334000</us-gaap:IncreaseDecreaseInDerivativeAssetsAndLiabilities>
    <dei:EntityCommonStockSharesOutstanding contextRef="AsOf2012-11-13" unitRef="Shares" decimals="INF">144672406</dei:EntityCommonStockSharesOutstanding>
    <dei:DocumentType contextRef="From2012-01-01to2012-09-30">S-1</dei:DocumentType>
    <us-gaap:GainLossOnInvestments contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-12146000</us-gaap:GainLossOnInvestments>
    <us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-2159000</us-gaap:GainsLossesOnExtinguishmentOfDebt>
    <us-gaap:ReorganizationItems contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">4153000</us-gaap:ReorganizationItems>
    <us-gaap:DebtorReorganizationItemsDischargeOfClaimsAndLiabilities contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">119408000</us-gaap:DebtorReorganizationItemsDischargeOfClaimsAndLiabilities>
    <peix:InterestOnConvertibleDebtPaidWithStock contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">3076000</peix:InterestOnConvertibleDebtPaidWithStock>
    <us-gaap:PaymentsToAcquireInvestments contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-1566000</us-gaap:PaymentsToAcquireInvestments>
    <us-gaap:IncomeLossFromEquityMethodInvestments contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">928000</us-gaap:IncomeLossFromEquityMethodInvestments>
    <us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-9117000</us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired>
    <us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-19494000</us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired>
    <us-gaap:ProceedsFromSaleMaturityAndCollectionsOfInvestments contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">18500000</us-gaap:ProceedsFromSaleMaturityAndCollectionsOfInvestments>
    <us-gaap:CashDivestedFromDeconsolidation contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-10486000</us-gaap:CashDivestedFromDeconsolidation>
    <peix:NetCashImpactOfBankruptcyExit contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-1301000</peix:NetCashImpactOfBankruptcyExit>
    <us-gaap:ProceedsFromConvertibleDebt contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">35000000</us-gaap:ProceedsFromConvertibleDebt>
    <us-gaap:RepaymentsOfNotesPayable contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-1212000</us-gaap:RepaymentsOfNotesPayable>
    <us-gaap:PaymentsOfDebtIssuanceCosts contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-2909000</us-gaap:PaymentsOfDebtIssuanceCosts>
    <us-gaap:ProceedsFromRepaymentsOfOtherDebt contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">5173000</us-gaap:ProceedsFromRepaymentsOfOtherDebt>
    <us-gaap:RepaymentsOfRelatedPartyDebt contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-500000</us-gaap:RepaymentsOfRelatedPartyDebt>
    <us-gaap:RepaymentsOfRelatedPartyDebt contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-13250000</us-gaap:RepaymentsOfRelatedPartyDebt>
    <peix:ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">1157000</peix:ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants>
    <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;Property and equipment consisted of the following (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&amp;#160;31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 72%"&gt;&lt;font style="font-size: 8pt"&gt;Facilities and plant equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;168,036&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;166,229&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Land&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,570&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,570&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Other equipment, vehicles and furniture&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,918&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,635&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Construction in progress&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,328&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,355&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;178,852&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;175,789&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Accumulated depreciation&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(19,235&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(6,813&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;159,617&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;168,976&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Depreciation&#13;expense, including idled facilities, was $11,724,000 and $8,536,000 for the years ended December 31, 2011 and 2010, respectively.&#13;One of the Pacific Ethanol Plants was idled at December 31, 2011 and 2010. The carrying values of this facility totaled $29,924,000&#13;and $32,000,000 at December 31, 2011 and 2010, respectively. The Company continues to depreciate these assets, resulting in depreciation&#13;expense in the aggregate of $2,155,000 and $1,559,000 for the years ended December 31, 2011 and 2010, respectively.&lt;/font&gt;&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
    <us-gaap:IntangibleAssetsDisclosureTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Intangible&#13;assets consisted of the following (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Useful&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&amp;#160;31,&#13;    2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&amp;#160;31,&#13;    2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Life&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Accumulated&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Net Book&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Accumulated&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Net Book&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;(Years)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Gross&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Amortization&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Value&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Amortization&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Value&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Non-Amortizing:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Kinergy tradename&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,678&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,678&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,678&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,678&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Amortizing:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 18%"&gt;&lt;font style="font-size: 8pt"&gt;Customer relationships&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 7%; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;10&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,741&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(3,211&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,530&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,741&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(2,737&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,004&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Pacific Ethanol tradename&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;800&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(550&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;250&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;800&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(100&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;700&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-indent: -0.25in"&gt;&lt;font style="font-size: 8pt"&gt;Total intangible assets, net&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,219&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(3,761&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,458&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,219&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(2,837&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,382&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Kinergy&#13;Tradename&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company recorded a tradename valued at $2,678,000 in 2006 as part of its acquisition of Kinergy.&#13;The Company determined that the Kinergy tradename has an indefinite life and therefore, rather than being amortized, will be tested&#13;annually for impairment. The Company did not record any impairment on the Kinergy tradename for the years ended December 31, 2011&#13;and 2010.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Customer&#13;Relationships&lt;/u&gt; &amp;#150;&lt;/i&gt; The Company recorded customer relationships valued at $4,741,000 as part of its acquisition of Kinergy.&#13;The Company has established a useful life of ten years for these customer relationships.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Pacific&#13;Ethanol Tradename&lt;/u&gt; &amp;#150;&lt;/i&gt; The Company recorded a tradename valued at $800,000 as part of its acquisition of its ownership&#13;interest in New PE Holdco, which relates to its marketing and management agreements with Pacific Ethanol, Inc. The Company has&#13;established a useful life of two years for this intangible asset.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Amortization&#13;expense associated with intangible assets totaled $924,000 and $574,000 for the years ended December&amp;#160;31, 2011 and 2010, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The weighted-average&#13;unamortized life of the intangible assets is 2.9 years.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The expected&#13;amortization expense relating to amortizable intangible assets in each of the remaining four years after December 31, 2011 are&#13;(in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Years&#13;        Ended&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December&#13;        31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Amount&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 67%; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2012&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 27%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;724&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2013&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;474&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2014&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;474&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2015&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;108&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 3pt; padding-left: 9pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Total&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,780&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:IntangibleAssetsDisclosureTextBlock>
    <us-gaap:ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Gain&#13;on Bankruptcy Exit&lt;/u&gt;&lt;/i&gt; &amp;#150; On the Effective Date, the Company ceased to own the Plant Owners as they emerged from bankruptcy.&#13;As a result, the Company removed the related assets of $175,070,000 and liabilities of $294,478,000 from its consolidated financial&#13;statements, resulting in a net gain on bankruptcy exit of $119,408,000.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Reorganization&#13;Costs&lt;/u&gt;&lt;/i&gt; &amp;#150; In accordance with the Financial Accounting Standards Board&amp;#146;s Accounting Standards Codification 852,&#13;&lt;i&gt;Reorganizations&lt;/i&gt;, revenues, expenses, realized gains and losses, and provisions for losses that can be directly associated&#13;with the reorganization and restructuring of the business must be reported separately as reorganization items in the statements&#13;of operations. During the year ended December 31, 2010, the Plant Owners recorded professional fees and other organizational costs&#13;directly related to the reorganization of $4,153,000.&lt;/font&gt;&lt;/p&gt;</us-gaap:ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock>
    <us-gaap:IncomeTaxDisclosureTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The asset&#13;and liability method is used to account for income taxes. Under this method, deferred tax assets and liabilities are recognized&#13;for tax credits and for the future tax consequences attributable to differences between the financial statement carrying amounts&#13;of existing assets and liabilities and their tax bases. Deferred tax assets and liabilities are measured using enacted tax rates&#13;expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.&#13;A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that&#13;those assets will be realized.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;files a consolidated federal income tax return. This return includes all corporate companies 80% or more owned by the Company&#13;as well as the Company&amp;#146;s pro-rata share of taxable income from pass-through entities in which the Company holds an ownership&#13;interest. State tax returns are filed on a consolidated, combined or separate basis depending on the applicable laws relating&#13;to the Company and its subsidiaries.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;recorded no provision for income taxes for the years ended December 31, 2011 and 2010.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;A reconciliation&#13;of the differences between the United States statutory federal income tax rate and the effective tax rate as provided in the consolidated&#13;statements of operations is as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Years&#13;    Ended December 31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 72%"&gt;&lt;font style="font-size: 8pt"&gt;Statutory rate&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(35.0%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(35.0%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;State income taxes, net of federal benefit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(3.9&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(4.9&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Section 382 reduction to NOL carryover&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(3,827.9&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Change in valuation allowance&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,849.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;41.5&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Stock compensation&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;16.8&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1.8&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Other&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.0&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.2&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt; text-indent: 0.25in"&gt;&lt;font style="font-size: 8pt"&gt;Effective rate&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.0%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.0%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Deferred&#13;income taxes are provided using the asset and liability method to reflect temporary differences between the financial statement&#13;carrying amounts and tax bases of assets and liabilities using presently enacted tax rates and laws. The components of deferred&#13;income taxes included in the consolidated balance sheets were as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;December 31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Deferred tax assets:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 72%; padding-left: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Net operating loss carryforward&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;30,681&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;144,814&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-left: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Capital loss carryover&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8,013&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;7,180&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-left: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Stock-based compensation&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;417&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,446&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-left: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Derivative instruments mark-to-market&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;201&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-left: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Convertible notes and warrants&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,520&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-left: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Other accrued liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;123&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;231&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-left: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Fixed assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;157&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; padding-left: 9pt"&gt;&lt;font style="font-size: 8pt"&gt;Other&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;167&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;279&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Total deferred tax assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;39,759&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;160,470&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Deferred tax liabilities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Investment in New PE Holdco&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(3,792&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(756&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Intangibles&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,706&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,901&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Fixed assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(191&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Total deferred tax liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(5,498&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(2,848&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Valuation allowance&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(35,352&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(158,713&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Net deferred tax liabilities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,091&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,091&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Classified in balance sheet as:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Deferred income tax benefit (current assets)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Deferred income taxes (long-term liability)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,091&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,091&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,091&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,091&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;A portion&#13;of the Company&amp;#146;s net operating loss carryforwards will be subject to provisions of the tax law that limit the use of losses&#13;incurred by a company prior to the date certain ownership changes occur. In April 2011, the Company experienced a change in ownership&#13;that initiated a new limitation on the Company&amp;#146;s ability to use its net operating losses. The amount of the Company&amp;#146;s&#13;net operating loss carryforwards that would be subject to these limitations was approximately $370,096,000 at December 31, 2011.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Due to the&#13;new limitation, a significant portion of these net operating loss carryforwards will expire regardless of whether the Company&#13;generates future taxable income. After reducing these net operating loss carryforwards for the amount which will expire, the Company&#13;had federal net operating loss carryforwards of approximately $79,605,000 and $366,948,000, and state net operating loss carryforwards&#13;of approximately $74,977,000 and $369,349,000, at December 31, 2011 and 2010, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;These net&#13;operating loss carryforwards expire at various dates beginning in 2012. The deferred tax asset for the Company&amp;#146;s net operating&#13;loss carryforwards at December&amp;#160;31, 2011 does not include $1,076,000 which relates to the tax benefits associated with warrants&#13;and non-statutory options exercised by employees, members of the board and others under the various incentive plans. These tax&#13;benefits will be recognized in stockholders&amp;#146; equity rather than in the statements of operations but not until the period&#13;in which these amounts decrease taxes payable.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;In assessing&#13;whether the deferred tax assets are realizable, a more likely than not standard is applied. If it is determined that it is more&#13;likely than not that deferred tax assets will not be realized, a valuation allowance must be established against the deferred&#13;tax assets. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the&#13;periods in which the associated temporary differences become deductible. Management considers the scheduled reversal of deferred&#13;tax liabilities, projected future taxable income and tax planning strategies in making this assessment.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;A valuation&#13;allowance has been established in the amount of $35,352,000 and $158,713,000 at December 31, 2011 and 2010, respectively, based&#13;on the Company&amp;#146;s assessment of the future realizability of certain deferred tax assets. For the years ended December 31,&#13;2011 and 2010, the Company recorded a decrease in the valuation allowance of $123,361,000 and $30,669,000, respectively. The valuation&#13;allowance on deferred tax assets is related to future deductible temporary differences and net operating loss carryforwards (exclusive&#13;of net operating losses associated with items recorded directly to equity) for which the Company has concluded it is more likely&#13;than not that these items will not be realized in the ordinary course of operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;At December&#13;31, 2011, the Company had no increase or decrease in unrecognized income tax benefits for the year as a result of uncertain tax&#13;positions taken in a prior or current period. There was no accrued interest or penalties relating to tax uncertainties at December&#13;31, 2011. Unrecognized tax benefits are not expected to increase or decrease within the next twelve months.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;is subject to income tax in the United States federal jurisdiction and various state jurisdictions and has identified its federal&#13;tax return and tax returns in state jurisdictions below as &amp;#147;major&amp;#148; tax filings. These jurisdictions, along with the&#13;years still open to audit under the applicable statutes of limitation, are as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 50%; text-decoration: underline; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Jurisdiction&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 50%; text-decoration: underline; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Tax Years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; background-color: #EEEEEE"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Federal&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2008 &amp;#150; 2010&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; background-color: white"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;California&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2007 &amp;#150; 2010&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; background-color: #EEEEEE"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Colorado&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2007 &amp;#150; 2010&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; background-color: white"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Idaho&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2008 &amp;#150; 2010&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; background-color: #EEEEEE"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Nebraska&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2008&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; background-color: white"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Oregon&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2008 &amp;#150; 2010&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; background-color: #EEEEEE"&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Wisconsin&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2007 &amp;#150; 2008&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;However,&#13;because the Company had net operating losses and credits carried forward in several of the jurisdictions, including the United&#13;States federal and California jurisdictions, certain items attributable to closed tax years are still subject to adjustment by&#13;applicable taxing authorities through an adjustment to tax attributes carried forward to open years.&lt;/font&gt;&lt;/p&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
    <us-gaap:PreferredStockTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;has 6,734,835 undesignated shares of authorized and unissued preferred stock, which may be designated and issued in the future&#13;on the authority of the Company&amp;#146;s Board of Directors. As of December 31, 2011, the Company had the following designated&#13;preferred stock:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Series&#13;A Preferred Stock&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company has authorized 1,684,375 shares of Series A Cumulative Redeemable Convertible Preferred&#13;Stock (&amp;#147;Series A Preferred Stock&amp;#148;), with none outstanding at December 31, 2011 and 2010. Shares of Series A Preferred&#13;Stock that are converted into shares of the Company&amp;#146;s common stock revert to undesignated shares of authorized and unissued&#13;preferred stock.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Upon any&#13;issuance, the Series A Preferred Stock would rank senior in liquidation and dividend preferences to the Company&amp;#146;s common&#13;stock. Holders of Series A Preferred Stock would be entitled to quarterly cumulative dividends payable in arrears in cash in an&#13;amount equal to 5% per annum of the purchase price per share of the Series A Preferred Stock. The holders of the Series A Preferred&#13;Stock would have conversion rights initially equivalent to two shares of common stock for each share of Series A Preferred Stock,&#13;subject to customary antidilution adjustments. Certain specified issuances will not result in antidilution adjustments. The shares&#13;of Series A Preferred Stock would also be subject to forced conversion upon the occurrence of a transaction that would result&#13;in an internal rate of return to the holders of the Series A Preferred Stock of 25% or more. Accrued but unpaid dividends on the&#13;Series A Preferred Stock are to be paid in cash upon any conversion of the Series A Preferred Stock.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The holders&#13;of Series A Preferred Stock would have a liquidation preference over the holders of the Company&amp;#146;s common stock equivalent&#13;to the purchase price per share of the Series A Preferred Stock plus any accrued and unpaid dividends on the Series A Preferred&#13;Stock. A liquidation would be deemed to occur upon the happening of customary events, including transfer of all or substantially&#13;all of the Company&amp;#146;s capital stock or assets or a merger, consolidation, share exchange, reorganization or other transaction&#13;or series of related transaction, unless holders of 66 2/3% of the Series A Preferred Stock vote affirmatively in favor of or&#13;otherwise consent to such transaction.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Series&#13;B Preferred Stock&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company has authorized 1,580,790 shares of Series B Preferred Stock, with 926,942 and 1,455,924&#13;outstanding at December 31, 2011 and 2010, respectively. Shares of Series B Preferred Stock that are converted into shares of&#13;the Company&amp;#146;s common stock revert to undesignated shares of authorized and unissued preferred stock.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Series&#13;B Preferred Stock ranks senior in liquidation and dividend preferences to the Company&amp;#146;s common stock. Holders of Series&#13;B Preferred Stock are entitled to quarterly cumulative dividends payable in arrears in cash in an amount equal to 7.00% per annum&#13;of the purchase price per share of the Series B Preferred Stock; however, subject to the provisions of the Letter Agreement described&#13;below, such dividends may, at the option of the Company, be paid in additional shares of Series B Preferred Stock based initially&#13;on the liquidation value of the Series B Preferred Stock. The holders of Series B Preferred Stock have a liquidation preference&#13;over the holders of the Company&amp;#146;s common stock initially equivalent to $19.50 per share of the Series B Preferred Stock&#13;plus any accrued and unpaid dividends on the Series B Preferred Stock. A liquidation will be deemed to occur upon the happening&#13;of customary events, including the transfer of all or substantially all of the capital stock or assets of the Company or a merger,&#13;consolidation, share exchange, reorganization or other transaction or series of related transaction, unless holders of 66 2/3%&#13;of the Series B Preferred Stock vote affirmatively in favor of or otherwise consent that such transaction shall not be treated&#13;as a liquidation. The Company believes that such liquidation events are within its control and therefore has classified the Series&#13;B Preferred Stock in stockholders&amp;#146; equity&lt;i&gt;.&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The holders&#13;of the Series B Preferred Stock have conversion rights initially equivalent to 0.43 shares of common stock for each share of Series&#13;B Preferred Stock. The conversion ratio is subject to customary antidilution adjustments. In addition, antidilution adjustments&#13;are to occur in the event that the Company issues equity securities, including derivative securities convertible into equity securities&#13;(on an as-converted or as-exercised basis), at a price less than the conversion price then in effect. The shares of Series B Preferred&#13;Stock are also subject to forced conversion upon the occurrence of a transaction that would result in an internal rate of return&#13;to the holders of the Series B Preferred Stock of 25% or more. The forced conversion is to be based upon the conversion ratio&#13;as last adjusted. Accrued but unpaid dividends on the Series B Preferred Stock are to be paid in cash upon any conversion of the&#13;Series B Preferred Stock.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The holders&#13;of Series B Preferred Stock vote together as a single class with the holders of the Company&amp;#146;s common stock on all actions&#13;to be taken by the Company&amp;#146;s stockholders. Each share of Series B Preferred Stock entitles the holder to three votes on&#13;all matters to be voted on by the stockholders of the Company. Notwithstanding the foregoing, the holders of Series B Preferred&#13;Stock are afforded numerous customary protective provisions with respect to certain actions that may only be approved by holders&#13;of a majority of the shares of Series B Preferred Stock.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;In 2008,&#13;the Company entered into Letter Agreements with Lyles United LLC (&amp;#147;Lyles United&amp;#148;) and other purchasers under which&#13;the Company expressly waived its rights under the Certificate of Designations relating to the Series B Preferred Stock to make&#13;dividend payments in additional shares of Series B Preferred Stock in lieu of cash dividend payments without the prior written&#13;consent of Lyles United and the other purchasers.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Registration&#13;Rights Agreement&lt;/u&gt;&amp;#160;&lt;/i&gt;&amp;#150; In connection with the sale of its Series B Preferred Stock, the Company entered into a&#13;registration rights agreement with Lyles United. The registration rights agreement is to be effective until the holders of the&#13;Series B Preferred Stock, and their affiliates, as a group, own less than 10% for each of the series issued, including common&#13;stock into which such Series B Preferred Stock has been converted. The registration rights agreement provides that holders of&#13;a majority of the Series B Preferred Stock, including common stock into which such Series B Preferred Stock has been converted,&#13;may demand and cause the Company to register on their behalf the shares of common stock issued, issuable or that may be issuable&#13;upon conversion of the Preferred Stock and as payment of dividends thereon, and upon exercise of the related warrants (collectively,&#13;the &amp;#147;Registrable Securities&amp;#148;). The Company is required to keep such registration statement effective until such time&#13;as all of the Registrable Securities are sold or until such holders may avail themselves of Rule 144 for sales of Registrable&#13;Securities without registration under the Securities Act of 1933, as amended. The holders are entitled to two demand registrations&#13;on Form S-1 and unlimited demand registrations on Form S-3; provided, however, that the Company is not obligated to effect more&#13;than one demand registration on Form S-3 in any calendar year. In addition to the demand registration rights afforded the holders&#13;under the registration rights agreement, the holders are entitled to unlimited &amp;#147;piggyback&amp;#148; registration rights. These&#13;rights entitle the holders who so elect to be included in registration statements to be filed by the Company with respect to other&#13;registrations of equity securities. The Company is responsible for all costs of registration, plus reasonable fees of one legal&#13;counsel for the holders, which fees are not to exceed $25,000 per registration. The registration rights agreement includes customary&#13;representations and warranties on the part of both the Company and the holders and other customary terms and conditions.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;recorded preferred stock dividends of $1,265,000 and $2,847,000 for the years ended December 31, 2011 and 2010, respectively.&#13;As of December 31, 2011, the Company had accrued and unpaid dividends of $7,315,000.&lt;/font&gt;&lt;/p&gt;</us-gaap:PreferredStockTextBlock>
    <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;The Company has two equity incentive compensation plans: a 2004 Stock Option&#13;Plan and a 2006 Stock Incentive Plan.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="margin: 0pt 0"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;2004&#13;Stock Option Plan&lt;/u&gt;&lt;/i&gt; &amp;#150; The 2004 Stock Option Plan authorized the issuance of incentive stock options (&amp;#147;ISOs&amp;#148;)&#13;and non-qualified stock options (&amp;#147;NQOs&amp;#148;) to the Company&amp;#146;s officers, directors or key employees or to consultants&#13;that do business with the Company for up to an aggregate of 357,143 shares of common stock. On September 7, 2006, the Company&#13;terminated the 2004 Stock Option Plan, except to the extent of issued and outstanding options then existing under the plan. The&#13;Company had 11,429 stock options outstanding under its 2004 Stock Option Plan at December&amp;#160;31, 2011 and 2010.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;2006&#13;Stock Incentive Plan&lt;/u&gt;&lt;/i&gt; &amp;#150; The 2006 Stock Incentive Plan authorizes the issuance of options, restricted stock, restricted&#13;stock units, stock appreciation rights, direct stock issuances and other stock-based awards to the Company&amp;#146;s officers, directors&#13;or key employees or to consultants that do business with the Company for up to an aggregate of 1,214,285 shares of common stock.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Stock&#13;Options&lt;/u&gt;&lt;/i&gt; &amp;#150; On August 1, 2011 and August 25, 2011, the Company granted options to purchase an aggregate of 193,000&#13;and 16,000 shares of the Company&amp;#146;s common stock at exercise prices of $0.86 and $0.35 per share, which were the respective&#13;closing prices per share of the Company&amp;#146;s common stock on the dates of grant, with estimated fair values of $0.44 and $0.18,&#13;respectively. The options vest as to 33% on April 2, 2012 and 33% on each of April 1, 2013 and April 1, 2014. The options expire&#13;in 10 years from the date of grant. Fair value was determined using the Black Scholes Option Pricing Model. For the August 1,&#13;2011 grants, the inputs to estimating fair value were: exercise price of $0.86; estimated life of 5.0 years; expected volatility&#13;of 56.7%; and risk free interest rate of 2.50%. For the August 25, 2011 grants, the inputs to estimating fair value were: exercise&#13;price of $0.35; estimated life of 5.0 years; expected volatility of 56.7% and risk free interest rate of 2.50%. The Company estimates&#13;expected volatility using peer companies within its industry.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Summaries&#13;of the status of Company&amp;#146;s stock option plans as of December 31, 2011 and 2010 and of changes in options outstanding under&#13;the Company&amp;#146;s plans during those years are as follows (in thousands, except exercise prices):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="14" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Years&#13;    Ended December 31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Number&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;of&#13;        Shares&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Weighted&#13;    Average Exercise Price&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Number&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;of&#13;        Shares&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Weighted&#13;        Average&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Exercise&#13;        Price&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 44%"&gt;&lt;font style="font-size: 8pt"&gt;Outstanding at beginning of year&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.82&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.82&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; padding-left: 9pt; text-indent: -9pt"&gt;&lt;font style="font-size: 8pt"&gt;Issued&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;209&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.82&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Outstanding at end of year&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;220&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3.78&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.82&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Options exercisable at end of year&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.82&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.82&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Stock options&#13;outstanding as of December&amp;#160;31, 2011, were as follows (number of shares in thousands):&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td colspan="2" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Options&#13;    Outstanding&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Options&#13;    Exercisable&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Range&#13;        of&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Exercise&#13;        Prices&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Number&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Outstanding&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Weighted&#13;        Average &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Remaining&#13;        &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Contractual&#13;        Life (yrs)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Weighted&#13;        Average&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Exercise&#13;        Price&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Number&#13;    Exercisable&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Weighted&#13;        Average&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Exercise&#13;        Price&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 18%; padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.35-0.86&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 13%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;209&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 13%; padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;9.59&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 13%; padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.82&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 13%; border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 13%; padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.75-58.10&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3.57&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.82&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;11&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;57.82&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The options&#13;outstanding at December 31, 2011 and 2010 had intrinsic values of $50,000 and $0, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Restricted&#13;Stock&lt;/u&gt;&lt;/i&gt; &amp;#150; The Company grants to certain employees and directors shares of restricted stock under its 2006 Stock Incentive&#13;Plan pursuant to restricted stock agreements. A summary of unvested restricted stock activity is as follows (shares in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Number&#13;        of&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Shares&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Weighted&#13;        Average&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Grant&#13;        Date&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;Fair&#13;        Value&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 72%"&gt;&lt;font style="font-size: 8pt"&gt;Unvested at December 31, 2009&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;40&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;56.63&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Issued&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;585&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8.40&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Vested&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(145&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;14.91&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Canceled&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(11&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;45.64&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Unvested at December 31, 2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;469&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;9.66&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Issued&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;264&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.86&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Vested&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(251&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;10.56&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Canceled&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(9&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;9.70&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Unvested at December&amp;#160;31, 2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;473&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4.27&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Stock-based&#13;compensation expense related to employee and non-employee stock grants and options recognized in income were as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Years Ended December&#13;    31,&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2011&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;2010&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="width: 72%"&gt;&lt;font style="font-size: 8pt"&gt;Employees&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,522&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,895&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Non-employees&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;756&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;576&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Total stock-based compensation expense&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,278&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,471&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;At December&#13;31, 2011, the total compensation cost related to unvested awards which had not been recognized was $2,111,000 and the associated&#13;weighted-average period over which the compensation cost attributable to those unvested awards would be recognized was 3.54 years.&lt;/font&gt;&lt;/p&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
    <peix:PartialCompanyFinancialInChapter11OrReorganizationTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Since the&#13;consolidated financial statements of the Company include entities other than the Plant Owners, below are the condensed combined&#13;financial statements of the Plant Owners for the periods included in these consolidated financial statements during the pendency&#13;of their Chapter 11 Filings. These condensed combined financial statements have been prepared, in all material respects, on the&#13;same basis as the consolidated financial statements of the Company. The condensed combined financial statements of the Plant Owners&#13;during the pendency of their Chapter 11 Filings are as follows (unaudited, in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;PACIFIC&#13;ETHANOL HOLDING CO. LLC AND SUBSIDIARIES&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;CONDENSED&#13;COMBINED STATEMENTS OF OPERATIONS&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;January&#13;1, 2010 to June 29, 2010&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 86%"&gt;&lt;font style="font-size: 8pt"&gt;Net sales&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;89,737&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Cost of goods sold&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;98,140&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Gross loss&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(8,403&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Selling, general and administrative expenses&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1,829&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Loss from operations&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(10,232&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Other expense, net&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,253&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Loss before reorganization costs and gain from bankruptcy exit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(11,485&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Reorganization costs&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(4,153&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Gain from bankruptcy exit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;119,408&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Net income&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;103,770&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;PACIFIC&#13;ETHANOL HOLDING CO. LLC AND SUBSIDIARIES&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;CONDENSED&#13;COMBINED STATEMENTS OF CASH FLOWS&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&lt;b&gt;January&#13;1, 2010 to June 29, 2010&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Operating Activities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 86%"&gt;&lt;font style="font-size: 8pt"&gt;Net income&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 11%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;103,770&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="width: 1%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-left: 9pt; text-indent: -9pt; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Adjustments to reconcile&#13;    net income to ash used in operating activities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Gain on bankruptcy exit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(119,408&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Depreciation and amortization of intangibles&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,064&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Gain on derivative instruments&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,206&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Amortization of deferred financing costs&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;85&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Changes in operating assets and liabilities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Accounts receivable&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(5,059&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Inventories&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,948&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Prepaid expenses and other assets&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;159&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Accounts payable and accrued expenses&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,839&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Net cash used in operating activities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(6,808&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Investing Activities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Additions to property and equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(310&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Net cash impact of bankruptcy exit&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,301&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Net cash used in investing activities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(1,611&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="font-weight: bold"&gt;&lt;font style="font-size: 8pt"&gt;Financing Activities:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Proceeds from borrowings under DIP financing&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,173&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Net cash provided by financing activities&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;5,173&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;Net decrease in cash and cash equivalents&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(3,246&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;Cash and cash equivalents at beginning of period&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,246&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #EEEEEE"&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;Cash and cash equivalents at end of period&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.25pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td nowrap="nowrap" style="padding-bottom: 3pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</peix:PartialCompanyFinancialInChapter11OrReorganizationTextBlock>
    <us-gaap:LiquidityDisclosureTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Liquidity&#13;&lt;/u&gt;&lt;/i&gt;&amp;#150; Despite the liquidity risks relative to the Plant Owners&amp;#146; credit facilities, the Company believes that current&#13;and future available capital resources, revenues generated from operations, and other existing sources of liquidity, including&#13;its credit facilities, will be adequate to meet its anticipated working capital and capital expenditure requirements for the next&#13;twelve months. See Note 5 &amp;#150; Debt. If, however, the Company&amp;#146;s capital requirements or cash flow vary materially from&#13;its current projections, or if other unforeseen circumstances occur, such as a lack of significant improvement or further deterioration&#13;of corn crush margins, the Company may require additional financing during that period. The Company&amp;#146;s failure to raise capital,&#13;if needed, could restrict its growth, hinder its ability to compete and adversely impact its operations.&lt;/font&gt;&lt;/p&gt;</us-gaap:LiquidityDisclosureTextBlock>
    <us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Basis&#13;of Presentation&lt;/u&gt;&lt;/i&gt;&lt;u&gt;&amp;#150;&lt;i&gt;Interim Financial Statements&lt;/i&gt;&lt;/u&gt;&lt;font style="font-family: Times New Roman, Times, Serif; color: black"&gt;&#13;&lt;/font&gt;&amp;#150; The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance&#13;with accounting principles generally accepted in the United States for interim financial information and the instructions to Form&#13;10-Q and Rule&amp;#160;10-01 of Regulation&amp;#160;S-X. Results for interim periods should not be considered indicative of results for&#13;a full year. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements&#13;for the years ended December 31, 2011 and 2010 and related notes beginning on page F-20 of this prospectus. The accounting policies&#13;used in preparing these consolidated financial statements are the same as those described in Note 1 to such consolidated financial&#13;statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for&#13;a fair statement of the results for interim periods have been included. All significant intercompany accounts and transactions&#13;have been eliminated in consolidation.&lt;/font&gt;&lt;/p&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock>
    <us-gaap:UseOfEstimates contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Use&#13;of Estimates&lt;/u&gt;&lt;/i&gt; - The preparation of the consolidated financial statements in conformity with accounting principles generally&#13;accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets&#13;and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts&#13;of revenues and expenses during the reporting period. Significant estimates are required as part of determining the consolidation&#13;of VIEs, fair value of convertible notes and warrants, allowance for doubtful accounts, estimated lives of property and equipment&#13;and intangibles, long-lived asset impairments, valuation allowances on deferred income taxes and the potential outcome of future&#13;tax consequences of events recognized in the Company&amp;#146;s financial statements or tax returns. Actual results and outcomes&#13;may materially differ from management&amp;#146;s estimates and assumptions.&lt;/font&gt;&lt;/p&gt;</us-gaap:UseOfEstimates>
    <us-gaap:Reclassifications contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Reclassification&#13;&lt;/u&gt;&lt;/i&gt;- Reclassifications of prior year&amp;#146;s data have been made to conform to 2012 classifications. Such classifications&#13;had no effect on net income (loss) reported in the consolidated statements of operations.&lt;/font&gt;&lt;/p&gt;</us-gaap:Reclassifications>
    <us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Accounts&#13;Receivable and Allowance for Doubtful Accounts&lt;/u&gt;&lt;/i&gt; &amp;#150; Trade accounts receivable are presented at face value, net of the&#13;allowance for doubtful accounts. The Company sells ethanol to gasoline refining and distribution companies and sells WDG to dairy&#13;operators and animal feed distributors generally without requiring collateral.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process&#13;is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified&#13;number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance&#13;in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has&#13;been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and&#13;the Company&amp;#146;s success in contacting and negotiating with the customer. If the financial condition of the Company&amp;#146;s&#13;customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Of the total&#13;accounts receivable balance, approximately $25,540,000 and $23,715,000 at September 30, 2012 and December 31, 2011, respectively,&#13;were used as collateral under Kinergy&amp;#146;s working capital line of credit. The allowance for doubtful accounts was $9,000 and&#13;$24,000 as of September 30, 2012 and December 31, 2011, respectively. The Company recorded net bad debt recoveries of $15,000&#13;and $185,000 for the nine months ended September 30, 2012 and 2011, respectively.&lt;/font&gt;&lt;/p&gt;</us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy>
    <us-gaap:CommonStockSharesOutstanding contextRef="AsOf2011-12-31" unitRef="Shares" decimals="INF">86631664</us-gaap:CommonStockSharesOutstanding>
    <us-gaap:CommonStockSharesOutstanding contextRef="AsOf2010-12-31" unitRef="Shares" decimals="INF">12918144</us-gaap:CommonStockSharesOutstanding>
    <us-gaap:CommonStockSharesOutstanding contextRef="AsOf2012-09-30" unitRef="Shares" decimals="INF">144710897</us-gaap:CommonStockSharesOutstanding>
    <us-gaap:CommonStockSharesIssued contextRef="AsOf2011-12-31" unitRef="Shares" decimals="INF">86631664</us-gaap:CommonStockSharesIssued>
    <us-gaap:CommonStockSharesIssued contextRef="AsOf2010-12-31" unitRef="Shares" decimals="INF">12918144</us-gaap:CommonStockSharesIssued>
    <us-gaap:CommonStockSharesIssued contextRef="AsOf2012-09-30" unitRef="Shares" decimals="INF">144710897</us-gaap:CommonStockSharesIssued>
    <us-gaap:CommonStockSharesAuthorized contextRef="AsOf2011-12-31" unitRef="Shares" decimals="INF">300000000</us-gaap:CommonStockSharesAuthorized>
    <us-gaap:CommonStockSharesAuthorized contextRef="AsOf2010-12-31" unitRef="Shares" decimals="INF">300000000</us-gaap:CommonStockSharesAuthorized>
    <us-gaap:CommonStockSharesAuthorized contextRef="AsOf2012-09-30" unitRef="Shares" decimals="INF">300000000</us-gaap:CommonStockSharesAuthorized>
    <us-gaap:CommonStockParOrStatedValuePerShare contextRef="AsOf2011-12-31" unitRef="USDPShares" decimals="INF">0.001</us-gaap:CommonStockParOrStatedValuePerShare>
    <us-gaap:CommonStockParOrStatedValuePerShare contextRef="AsOf2010-12-31" unitRef="USDPShares" decimals="INF">0.001</us-gaap:CommonStockParOrStatedValuePerShare>
    <us-gaap:CommonStockParOrStatedValuePerShare contextRef="AsOf2012-09-30" unitRef="USDPShares" decimals="INF">0.001</us-gaap:CommonStockParOrStatedValuePerShare>
    <us-gaap:PreferredStockLiquidationPreferenceValue contextRef="AsOf2012-09-30_SeriesBPreferredStockMember" unitRef="USD" decimals="-3">24659000</us-gaap:PreferredStockLiquidationPreferenceValue>
    <us-gaap:PreferredStockSharesOutstanding contextRef="AsOf2012-09-30_SeriesAPreferredStockMember" unitRef="Shares" decimals="INF">0</us-gaap:PreferredStockSharesOutstanding>
    <us-gaap:PreferredStockSharesOutstanding contextRef="AsOf2011-12-31_SeriesAPreferredStockMember" unitRef="Shares" decimals="INF">0</us-gaap:PreferredStockSharesOutstanding>
    <us-gaap:PreferredStockSharesOutstanding contextRef="AsOf2012-09-30_SeriesBPreferredStockMember" unitRef="Shares" decimals="INF">926942</us-gaap:PreferredStockSharesOutstanding>
    <us-gaap:PreferredStockSharesOutstanding contextRef="AsOf2011-12-31_SeriesBPreferredStockMember" unitRef="Shares" decimals="INF">926942</us-gaap:PreferredStockSharesOutstanding>
    <us-gaap:PreferredStockSharesOutstanding contextRef="AsOf2010-12-31_SeriesBPreferredStockMember" unitRef="Shares" decimals="INF">1455924</us-gaap:PreferredStockSharesOutstanding>
    <us-gaap:PreferredStockSharesOutstanding contextRef="AsOf2010-12-31_SeriesAPreferredStockMember" unitRef="Shares" decimals="INF">0</us-gaap:PreferredStockSharesOutstanding>
    <us-gaap:PreferredStockSharesIssued contextRef="AsOf2012-09-30_SeriesAPreferredStockMember" unitRef="Shares" decimals="INF">0</us-gaap:PreferredStockSharesIssued>
    <us-gaap:PreferredStockSharesIssued contextRef="AsOf2011-12-31_SeriesAPreferredStockMember" unitRef="Shares" decimals="INF">0</us-gaap:PreferredStockSharesIssued>
    <us-gaap:PreferredStockSharesIssued contextRef="AsOf2012-09-30_SeriesBPreferredStockMember" unitRef="Shares" decimals="INF">926942</us-gaap:PreferredStockSharesIssued>
    <us-gaap:PreferredStockSharesIssued contextRef="AsOf2011-12-31_SeriesBPreferredStockMember" unitRef="Shares" decimals="INF">926942</us-gaap:PreferredStockSharesIssued>
    <us-gaap:PreferredStockSharesIssued contextRef="AsOf2010-12-31_SeriesBPreferredStockMember" unitRef="Shares" decimals="INF">1455924</us-gaap:PreferredStockSharesIssued>
    <us-gaap:PreferredStockSharesIssued contextRef="AsOf2010-12-31_SeriesAPreferredStockMember" unitRef="Shares" decimals="INF">0</us-gaap:PreferredStockSharesIssued>
    <us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2011-12-31" unitRef="Shares" decimals="INF">10000000</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2010-12-31" unitRef="Shares" decimals="INF">10000000</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2012-09-30" unitRef="Shares" decimals="INF">10000000</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2012-09-30_SeriesAPreferredStockMember" unitRef="Shares" decimals="INF">1684375</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2011-12-31_SeriesAPreferredStockMember" unitRef="Shares" decimals="INF">1684375</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2012-09-30_SeriesBPreferredStockMember" unitRef="Shares" decimals="INF">1580790</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2011-12-31_SeriesBPreferredStockMember" unitRef="Shares" decimals="INF">1580790</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2010-12-31_SeriesBPreferredStockMember" unitRef="Shares" decimals="INF">1580790</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2010-12-31_SeriesAPreferredStockMember" unitRef="Shares" decimals="INF">1684375</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="AsOf2011-12-31" unitRef="USDPShares" decimals="INF">0.001</us-gaap:PreferredStockParOrStatedValuePerShare>
    <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="AsOf2010-12-31" unitRef="USDPShares" decimals="INF">0.001</us-gaap:PreferredStockParOrStatedValuePerShare>
    <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="AsOf2012-09-30" unitRef="USDPShares" decimals="INF">0.001</us-gaap:PreferredStockParOrStatedValuePerShare>
    <us-gaap:NotesPayableRelatedPartiesClassifiedCurrent contextRef="AsOf2011-12-31" unitRef="USD" decimals="-3">750000</us-gaap:NotesPayableRelatedPartiesClassifiedCurrent>
    <us-gaap:NotesPayableRelatedPartiesClassifiedCurrent contextRef="AsOf2010-12-31" unitRef="USD" decimals="-3">0</us-gaap:NotesPayableRelatedPartiesClassifiedCurrent>
    <us-gaap:NotesPayableRelatedPartiesClassifiedCurrent contextRef="AsOf2012-09-30" unitRef="USD" decimals="-3">750000</us-gaap:NotesPayableRelatedPartiesClassifiedCurrent>
    <us-gaap:SharesIssued contextRef="AsOf2009-12-31_PreferredStockMember" unitRef="Shares" decimals="-3">2346000</us-gaap:SharesIssued>
    <us-gaap:SharesIssued contextRef="AsOf2010-12-31_PreferredStockMember" unitRef="Shares" decimals="-3">1456000</us-gaap:SharesIssued>
    <us-gaap:SharesIssued contextRef="AsOf2011-12-31_PreferredStockMember" unitRef="Shares" decimals="-3">927000</us-gaap:SharesIssued>
    <us-gaap:SharesIssued contextRef="AsOf2009-12-31_CommonStockMember" unitRef="Shares" decimals="-3">8210000</us-gaap:SharesIssued>
    <us-gaap:SharesIssued contextRef="AsOf2010-12-31_CommonStockMember" unitRef="Shares" decimals="-3">12918000</us-gaap:SharesIssued>
    <us-gaap:SharesIssued contextRef="AsOf2011-12-31_CommonStockMember" unitRef="Shares" decimals="-3">86632000</us-gaap:SharesIssued>
    <peix:DeconsolidationOfFrontRange contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-44034000</peix:DeconsolidationOfFrontRange>
    <peix:DeconsolidationOfFrontRange contextRef="From2010-01-01to2010-12-31_RetainedEarningsMember" unitRef="USD" decimals="-3">-1763000</peix:DeconsolidationOfFrontRange>
    <peix:DeconsolidationOfFrontRange contextRef="From2010-01-01to2010-12-31_NoncontrollingInterestMember" unitRef="USD" decimals="-3">-42271000</peix:DeconsolidationOfFrontRange>
    <peix:ConsolidationOfNewPEHoldco contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">99381000</peix:ConsolidationOfNewPEHoldco>
    <peix:ConsolidationOfNewPEHoldco contextRef="From2010-01-01to2010-12-31_NoncontrollingInterestMember" unitRef="USD" decimals="-3">99381000</peix:ConsolidationOfNewPEHoldco>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">2278000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">2471000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="From2010-01-01to2010-12-31_CommonStockMember" unitRef="USD" decimals="-3">1000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="From2010-01-01to2010-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">2470000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="From2011-01-01to2011-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">2278000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation contextRef="From2010-01-01to2010-12-31_CommonStockMember" unitRef="Shares" decimals="-3">560000</us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation contextRef="From2011-01-01to2011-12-31_CommonStockMember" unitRef="Shares" decimals="-3">264000</us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation>
    <peix:ConversionOfPreferredStockToCommonStock contextRef="From2010-01-01to2010-12-31_PreferredStockMember" unitRef="USD" decimals="-3">-1000</peix:ConversionOfPreferredStockToCommonStock>
    <peix:ConversionOfPreferredStockToCommonStock contextRef="From2010-01-01to2010-12-31_CommonStockMember" unitRef="USD" decimals="-3">1000</peix:ConversionOfPreferredStockToCommonStock>
    <peix:ConversionOfPreferredStockToCommonStockShares contextRef="From2010-01-01to2010-12-31_PreferredStockMember" unitRef="Shares" decimals="-3">-890000</peix:ConversionOfPreferredStockToCommonStockShares>
    <peix:ConversionOfPreferredStockToCommonStockShares contextRef="From2011-01-01to2011-12-31_PreferredStockMember" unitRef="Shares" decimals="-3">-529000</peix:ConversionOfPreferredStockToCommonStockShares>
    <peix:ConversionOfPreferredStockToCommonStockShares contextRef="From2010-01-01to2010-12-31_CommonStockMember" unitRef="Shares" decimals="-3">707000</peix:ConversionOfPreferredStockToCommonStockShares>
    <peix:ConversionOfPreferredStockToCommonStockShares contextRef="From2011-01-01to2011-12-31_CommonStockMember" unitRef="Shares" decimals="-3">444000</peix:ConversionOfPreferredStockToCommonStockShares>
    <peix:SharesIssuedInDebtExtinguishments contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">21159000</peix:SharesIssuedInDebtExtinguishments>
    <peix:SharesIssuedInDebtExtinguishments contextRef="From2010-01-01to2010-12-31_CommonStockMember" unitRef="USD" decimals="-3">3000</peix:SharesIssuedInDebtExtinguishments>
    <peix:SharesIssuedInDebtExtinguishments contextRef="From2010-01-01to2010-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">21156000</peix:SharesIssuedInDebtExtinguishments>
    <us-gaap:StockIssuedDuringPeriodSharesOther contextRef="From2010-01-01to2010-12-31_CommonStockMember" unitRef="Shares" decimals="-3">3441000</us-gaap:StockIssuedDuringPeriodSharesOther>
    <us-gaap:DividendsPreferredStockStock contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-1265000</us-gaap:DividendsPreferredStockStock>
    <us-gaap:DividendsPreferredStockStock contextRef="From2010-01-01to2010-12-31" unitRef="USD" decimals="-3">-2847000</us-gaap:DividendsPreferredStockStock>
    <us-gaap:DividendsPreferredStockStock contextRef="From2010-01-01to2010-12-31_RetainedEarningsMember" unitRef="USD" decimals="-3">-2847000</us-gaap:DividendsPreferredStockStock>
    <us-gaap:DividendsPreferredStockStock contextRef="From2011-01-01to2011-12-31_RetainedEarningsMember" unitRef="USD" decimals="-3">-1265000</us-gaap:DividendsPreferredStockStock>
    <us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">36864000</us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities>
    <us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities contextRef="From2011-01-01to2011-12-31_CommonStockMember" unitRef="USD" decimals="-3">64000</us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities>
    <us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities contextRef="From2011-01-01to2011-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">36800000</us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities>
    <us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities contextRef="From2011-01-01to2011-12-31_CommonStockMember" unitRef="Shares" decimals="-3">63859000</us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities>
    <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">5555000</us-gaap:StockIssuedDuringPeriodValueNewIssues>
    <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="From2011-01-01to2011-12-31_CommonStockMember" unitRef="USD" decimals="-3">8000</us-gaap:StockIssuedDuringPeriodValueNewIssues>
    <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="From2011-01-01to2011-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">5547000</us-gaap:StockIssuedDuringPeriodValueNewIssues>
    <us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="From2011-01-01to2011-12-31_CommonStockMember" unitRef="Shares" decimals="-3">7625000</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
    <peix:StockIssuedWarrantExercises contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">1157000</peix:StockIssuedWarrantExercises>
    <peix:StockIssuedWarrantExercises contextRef="From2011-01-01to2011-12-31_CommonStockMember" unitRef="USD" decimals="-3">2000</peix:StockIssuedWarrantExercises>
    <peix:StockIssuedWarrantExercises contextRef="From2011-01-01to2011-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">1155000</peix:StockIssuedWarrantExercises>
    <peix:SharesIssuedWarrantExercisesShares contextRef="From2011-01-01to2011-12-31_CommonStockMember" unitRef="Shares" decimals="-3">1522000</peix:SharesIssuedWarrantExercisesShares>
    <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="From2011-01-01to2011-12-31" unitRef="USD" decimals="-3">-9117000</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
    <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="From2011-01-01to2011-12-31_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">6468000</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
    <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="From2011-01-01to2011-12-31_NoncontrollingInterestMember" unitRef="USD" decimals="-3">-15585000</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
    <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="From2012-01-01to2012-09-30">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;For&#13;the nine months ended September 30, 2012, certain warrant holders exercised warrants in respect of 252,101 shares of common stock&#13;on a cashless exercise basis, resulting in 172,269 net shares of common stock issued by the Company. For the nine months&#13;ended September 30, 2012, certain warrant holders exercised warrants in respect of 50,000 shares of common stock for $26,500 in&#13;cash.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;July Offering&#13;&lt;/u&gt;&lt;/i&gt;&amp;#150; On July 3, 2012, the Company raised $10,903,000, net of $1,137,000 of underwriting and issuance costs, through&#13;a public offering of units consisting of an aggregate of 28,000,000 shares of common stock, warrants to purchase 28,000,000 shares&#13;of common stock at an exercise price of $0.63 per share with a term of five years and warrants to purchase 14,000,000 shares of&#13;common stock at an exercise price of $0.53 per share with a term of eighteen months (&amp;#147;July Offering&amp;#148;), which warrant&#13;exercise prices are subject to adjustment.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The warrants&#13;issued in the July Offering are subject to a &amp;#147;weighted-average&amp;#148; anti-dilution adjustment if the Company issues or is&#13;deemed to have issued securities at a price lower than the then applicable warrant exercise prices. In September 2012, as discussed&#13;below, the Company issued additional common stock and warrants, resulting in adjustments to the exercise prices of warrants issued&#13;in the July Offering. The adjusted exercise prices for the 5-year and 18-month warrants are $0.50 per share and $0.43 per share,&#13;respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company accounted&#13;for the net proceeds of the July Offering by first allocating the $3,380,000 fair value of the warrants to liabilities and then&#13;allocating the remaining amount to equity.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;September&#13;Offering&lt;/u&gt; &lt;/i&gt;&amp;#150; On September 26, 2012, the Company raised $10,091,000, net of $909,000 of underwriting and issuance costs,&#13;through a public offering of units consisting of an aggregate of 27,500,000 shares of common stock and warrants to purchase 27,500,000&#13;shares of common stock at an exercise price of $0.59 per share with a term of three years (&amp;#147;September Offering&amp;#148;). The&#13;Company accounted for the net proceeds of the September Offering by first allocating the $1,658,000 fair value of the warrants&#13;to liabilities and then allocating the remaining amount to equity.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
    <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="From2011-01-01to2011-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Private&#13;Placement&lt;/u&gt;&amp;#160;&lt;/i&gt;&amp;#150; On December 13, 2011, the Company raised $7,364,000, net of $642,000 of issuance costs, through&#13;the issuance of 7,625,000 shares of common stock and warrants to purchase an aggregate of 4,956,250 shares of common stock (&amp;#147;2011&#13;Warrants&amp;#148;). The 2011 Warrants are immediately exercisable and entitle the holders of the 2011 Warrants to purchase up to&#13;an aggregate of 4,956,250 shares of the Company&amp;#146;s common stock until December 13, 2016 at an exercise price of $1.50 per&#13;share (&amp;#147;2011 Warrant Exercise Price&amp;#148;), which price is subject to adjustment. The 2011 Warrants include both cash and&#13;cashless exercise provisions.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The 2011&#13;Warrant Exercise Price is subject to adjustment for stock splits, combinations or similar events, and, in such event, the number&#13;of shares issuable upon the exercise of the 2011 Warrants will also be adjusted so that the aggregate 2011 Warrant Exercise Price&#13;shall be the same immediately before and immediately after the adjustment. In addition, the 2011 Warrant Exercise Price is also&#13;subject to a &amp;#147;weighted-average&amp;#148; anti-dilution adjustment if the Company issues or is deemed to have issued securities&#13;at a price lower than the then applicable 2011 Warrant Exercise Price.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The 2011&#13;Warrants require payments to be made by the Company for failure to deliver the shares of common stock issuable upon exercise.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The 2011&#13;Warrants may not be converted if, after giving effect to the conversion, the investor together with its affiliates would beneficially&#13;own in excess of 4.99% of the Company&amp;#146;s outstanding shares of common stock. The blocker applicable to the exercise of the&#13;2011 Warrants may be raised or lowered to any other percentage not in excess of 9.99%, except that any increase will only be effective&#13;upon 61-days&amp;#146; prior notice to the Company.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;If the Company&#13;issues options, convertible securities, warrants, stock, or similar securities to holders of its common stock, each holder of&#13;a 2011 Warrant has the right to acquire the same as if the holder had exercised its 2011 Warrant. The 2011 Warrants prohibit the&#13;Company from entering into specified transactions involving a change of control, unless the successor entity assumes all of the&#13;Company&amp;#146;s obligations under the 2011 Warrants under a written agreement.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;accounted for the net proceeds of the private placement by first allocating the fair value of the 2011 warrants to a liability&#13;and then recorded the remaining amount to equity.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Registration&#13;Rights Agreement&lt;/u&gt;&amp;#160;&lt;/i&gt;&amp;#150; In connection with the sale of the shares of common stock and the 2011 Warrants, the Company&#13;entered into a registration rights agreement with all of the investors to file a registration statement on Form S-1 with the Securities&#13;and Exchange Commission by December 23, 2011 for the resale by the purchasers of the 7,625,000 shares of common stock and the&#13;4,956,250 shares of common stock issuable upon exercise of the 2011 Warrants issued on December 13, 2011.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;Subject to&#13;grace periods, the Company is required to keep the registration statement (and the prospectus contained in that registration statement&#13;available for use) for resale by the investors on a delayed or continuous basis at then-prevailing market prices at all times&#13;until the earlier of (i) the date as of which all of the investors may sell all of the shares of common stock required to be covered&#13;by the registration statement without restriction under Rule 144 under the Securities Act (including volume restrictions) and&#13;without the need for current public information required by Rule 144(c)(1), if applicable) or (ii) the date on which the investors&#13;shall have sold all of the shares of common stock covered by the registration statement.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The Company&#13;must pay registration delay payments of 2% of each investor&amp;#146;s initial investment per month if the registration statement&#13;ceases to be effective prior to the expiration of deadlines provided for in the registration rights agreement. The initial registration&#13;statement became effective by the stated deadline and the Company did not record any liability associated with any registration&#13;delay payments under the registration rights agreement.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Convertible&#13;Note Warrants&lt;/u&gt;&amp;#160;&lt;/i&gt;&amp;#150; On October 6, 2010, as part of the Initial Notes issuance, the Company issued the Initial 2010&#13;Warrants which were immediately exercisable and entitled the holders of the Initial 2010 Warrants to purchase up to an aggregate&#13;of 2,941,178 shares of the Company&amp;#146;s common stock until October 6, 2017 at an original exercise price of $5.95 per share,&#13;which price was subject to adjustment. The Initial 2010 Warrants were subsequently exchanged for the 2010 Warrants having substantially&#13;the same terms. The 2010 Warrants include both cash and cashless exercise provisions. Upon the Company&amp;#146;s consummation of&#13;the private placement on December 13, 2011, the original exercise price of the 2010 Warrants was reduced to $0.45 per share (&amp;#147;2010&#13;Warrant Exercise Price&amp;#148;), which is also subject to adjustment.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The 2010&#13;Warrant Exercise Price is subject to adjustment for stock splits, combinations or similar events, and, in such event, the number&#13;of shares issuable upon the exercise of the 2010 Warrants will also be adjusted so that the aggregate 2010 Warrant Exercise Price&#13;shall be the same immediately before and immediately after the adjustment. In addition, the 2010 Warrant Exercise Price is also&#13;subject to a &amp;#147;full ratchet&amp;#148; anti-dilution adjustment where if the Company issues or is deemed to have issued securities&#13;at a price lower than the then applicable 2010 Warrant Exercise Price, the 2010 Warrant Exercise Price will immediately decline&#13;to equal the price at which the Company issues or is deemed to have issued its common stock.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;If the Company&#13;sells or issues any securities with &amp;#147;floating&amp;#148; conversion prices based on the market price of its common stock, a&#13;holder of a 2010 Warrant has the right to substitute the &amp;#147;floating&amp;#148; conversion price for the 2010 Warrant Exercise&#13;Price upon exercise of all or part the 2010 Warrant.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The 2010&#13;Warrants require payments to be made by the Company for failure to deliver the shares of common stock issuable upon exercise.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;The 2010&#13;Warrants may not be converted if, after giving effect to the conversion, the investor together with its affiliates would beneficially&#13;own in excess of 4.99% or 9.99% (which percentage has been established at the election of each investor) of the Company&amp;#146;s&#13;outstanding shares of common stock. The blocker applicable to the exercise of the 2010 Warrants may be raised or lowered, subject&#13;to an advance notice period, to any other percentage not in excess of 9.99%.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;If the Company&#13;issues options, convertible securities, warrants, stock, or similar securities to holders of its common stock, each holder of&#13;a 2010 Warrant has the right to acquire the same as if the holder had exercised its 2010 Warrant. The 2010 Warrants prohibit the&#13;Company from entering into specified transactions involving a change of control, unless the successor entity is a publicly traded&#13;corporation that assumes all of the Company&amp;#146;s obligations under the 2010 Warrants under a written agreement approved by&#13;all of the holders of the 2010 Warrants before the transaction is completed. When there is a transaction involving a permitted&#13;change of control, a holder of a 2010 Warrant will have the right to force the Company to repurchase the holder&amp;#146;s 2010 Warrants&#13;for a purchase price in cash equal to the Black Scholes value of the then unexercised portion of the 2010 Warrants.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;If at any&#13;time after the date the Company has initially satisfied certain specified conditions, and (i)&amp;#160;its common stock trades at&#13;a price equal to or greater than $14.84 per share for 20 trading days in any 30 consecutive trading day period (&amp;#147;Mandatory&#13;Exercise Measuring Period&amp;#148;), (ii)&amp;#160;the average daily dollar trading volume of the Company&amp;#146;s common stock for each&#13;trading day during the Mandatory Exercise Measuring Period&lt;b&gt;&amp;#160;&lt;/b&gt;exceeds $250,000 per day, and (iii)&amp;#160;all such conditions&#13;are then satisfied, the Company will have the right to require the holders of the 2010 Warrants to fully exercise all, but not&#13;less than all, of the 2010 Warrants (subject to the blocker).&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;In February&#13;2012, certain holders of the 2010 Warrants exercised their 2010 Warrants with respect to 252,101 shares of common stock on a cashless&#13;exercise basis, resulting in 172,269 net shares of common stock issued by the Company.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Accounting&#13;for 2011 and 2010 Warrants&lt;/u&gt;&amp;#160;&lt;/i&gt;&amp;#150; The Company has determined that both the 2011 Warrants and the 2010 Warrants did&#13;not meet the conditions for classification in stockholders&amp;#146; equity and as such, the Company has recorded them as a liability&#13;at fair value. The Company will revalue them at each reporting period. Accordingly, the Company recorded fair value adjustments&#13;quarterly, with total fair value adjustments of $4,451,000 and $1,727,000 for the years ended December 31, 2011 and 2010, respectively,&#13;which is largely attributed to warrant term shortening and reduction in the market value of the Company&amp;#146;s common stock.&#13;See Note 13 for the Company&amp;#146;s fair value assumptions. As noted above, the exercise price of the 2010 Warrants declined to&#13;$0.45 as a result of anti-dilution adjustments due to the Company&amp;#146;s December 2011 equity financing. At that time, the Company&#13;recorded an aggregate $1,100,000 expense to fair value adjustments on convertible debt and warrants in its consolidated statements&#13;of operations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Other&#13;Warrant Issuances&lt;/u&gt;&amp;#160;&lt;/i&gt;&amp;#150; In March 2008, the Company issued warrants to purchase an aggregate of 439,561 shares of&#13;common stock at an exercise price of $49.00 per share, which expire in 2018. In May 2008, the Company issued warrants to purchase&#13;an aggregate of 63,189 shares of common stock at an exercise price of $49.00 per share, which expire in 2018.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;In May 2008,&#13;the Company issued warrants to purchase an aggregate of 428,573 shares of common stock at an exercise price of $49.70 per share,&#13;which expire in 2013.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&lt;i&gt;&lt;u&gt;Warrant&#13;Summary&lt;/u&gt;&amp;#160;&lt;/i&gt;&amp;#150; The following table summarizes warrant activity for the years ended December 31, 2011 and 2010 (number&#13;of shares in thousands):&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: center; padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Number of &lt;br /&gt;Shares&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="margin-top: 0; text-align: center; margin-bottom: 0; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-size: 8pt"&gt;Price&#13;    per &lt;br /&gt;Share&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="3" style="border-bottom: Black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;Weighted &lt;br /&gt;Average&#13;    &lt;br /&gt;Exercise Price&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="width: 49%; text-align: left; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Balance at December 31, 2009&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 13%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;931&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 13%; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;49.00&#13;                                                  &amp;#8211; 49.70&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 2%"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 13%; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;49.32&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Warrants issued&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;2,941&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;0.45&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.45&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Balance at December 31, 2010&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;3,872&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;0.45 &amp;#8211; 49.70&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;12.20&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Warrants issued&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;4,956&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;1.50&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;1.50&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(238,238,238)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Warrants exercised&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;(2,437&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;0.45&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;0.45&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;Balance at December&amp;#160;31,&#13;    2011&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;6,391&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 2.5pt double; text-align: center"&gt;&lt;font style="font-size: 8pt"&gt;0.45&#13;                                                                          &amp;#8211; 49.70&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;&lt;font style="font-size: 8pt"&gt;8.39&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;p style="margin: 0pt"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-size: 8pt"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
</xbrli:xbrl>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>14
<FILENAME>peix-20120930.xsd
<DESCRIPTION>XBRL SCHEMA FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 3.4b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Source; Value: paceth_s1%2D2013%2D3.xfr; Date: 2013/02/08T21:01:51 -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x800D0000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: 9ag5o7xRiXhun8uCZndcWaCAOcOdxZR/mZlBsGx/bRm6nyQv8QbQxyHneWF2AQoH -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2012-01-31" xmlns:us-gaap="http://fasb.org/us-gaap/2012-01-31" xmlns:us-roles="http://fasb.org/us-roles/2012-01-31" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:us-types="http://fasb.org/us-types/2012-01-31" xmlns:peix="http://compsciresources.com/20120930" elementFormDefault="qualified" targetNamespace="http://compsciresources.com/20120930">
    <annotation>
      <appinfo>
	<link:roleType roleURI="http://compsciresources.com/role/DocumentAndEntityInformation" id="DocumentAndEntityInformation">
	  <link:definition>0001 - Document - Document and Entity Information</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/ConsolidatedBalanceSheets" id="ConsolidatedBalanceSheets">
	  <link:definition>0002 - Statement - CONSOLIDATED BALANCE SHEETS</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/ConsolidatedBalanceSheetsParenthetical" id="ConsolidatedBalanceSheetsParenthetical">
	  <link:definition>0003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfOperations" id="ConsolidatedStatementsOfOperations">
	  <link:definition>0004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfCashFlows" id="ConsolidatedStatementsOfCashFlows">
	  <link:definition>0005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfStockholdersEquity" id="ConsolidatedStatementsOfStockholdersEquity">
	  <link:definition>0006 - Statement - CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentation" id="OrganizationAndBasisOfPresentation">
	  <link:definition>0007 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/VariableInterestEntity" id="VariableInterestEntity">
	  <link:definition>0008 - Disclosure - 2. VARIABLE INTEREST ENTITY</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/Inventories" id="Inventories">
	  <link:definition>0009 - Disclosure - 3. INVENTORIES</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/Derivatives" id="Derivatives">
	  <link:definition>0010 - Disclosure - 4. DERIVATIVES</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/Debt" id="Debt">
	  <link:definition>0011 - Disclosure - 5. DEBT</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/Warrants" id="Warrants">
	  <link:definition>0012 - Disclosure - 6. COMMON STOCK AND WARRANTS</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/CommitmentsAndContingencies" id="CommitmentsAndContingencies">
	  <link:definition>0013 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/FairValueMeasurements" id="FairValueMeasurements">
	  <link:definition>0014 - Disclosure - 8. FAIR VALUE MEASUREMENTS</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/EarningsPerShare" id="EarningsPerShare">
	  <link:definition>0015 - Disclosure - 9. EARNINGS PER SHARE</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/RelatedPartyTransactions" id="RelatedPartyTransactions">
	  <link:definition>0016 - Disclosure - 10. RELATED PARTY TRANSACTIONS</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/SubsequentEvent" id="SubsequentEvent">
	  <link:definition>0017 - Disclosure - 11. SUBSEQUENT EVENT</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/PropertyAndEquipmentDec2011Only" id="PropertyAndEquipmentDec2011Only">
	  <link:definition>0018 - Disclosure - 3. PROPERTY AND EQUIPMENT (Dec 2011 only)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/IntangibleAssetsDec2011Only" id="IntangibleAssetsDec2011Only">
	  <link:definition>0019 - Disclosure - 4. INTANGIBLE ASSETS (Dec 2011 only)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/AccountingForEmergenceFromBankruptcyDec2011Only" id="AccountingForEmergenceFromBankruptcyDec2011Only">
	  <link:definition>0020 - Disclosure - 7. ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY (Dec 2011 only)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/IncomeTaxesDec2011Only" id="IncomeTaxesDec2011Only">
	  <link:definition>0021 - Disclosure - 8. INCOME TAXES (Dec 2011 only)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/PreferredStockDec2011Only" id="PreferredStockDec2011Only">
	  <link:definition>0022 - Disclosure - 9. PREFERRED STOCK (Dec 2011 only)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/Stock-BasedCompensationDec2011Only" id="Stock-BasedCompensationDec2011Only">
	  <link:definition>0023 - Disclosure - 11. STOCK-BASED COMPENSATION (Dec 2011 only)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" id="PlantOwnersCondensedCombinedFinancialStatementsDec2011Only">
	  <link:definition>0024 - Disclosure - 15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentationPolicies" id="OrganizationAndBasisOfPresentationPolicies">
	  <link:definition>0025 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Policies)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/VariableInterestEntityTables" id="VariableInterestEntityTables">
	  <link:definition>0026 - Disclosure - 2. VARIABLE INTEREST ENTITY (Tables)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/InventoriesTables" id="InventoriesTables">
	  <link:definition>0027 - Disclosure - 3. INVENTORIES (Tables)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/DerivativesTables" id="DerivativesTables">
	  <link:definition>0028 - Disclosure - 4. DERIVATIVES (Tables)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/DebtTables" id="DebtTables">
	  <link:definition>0029 - Disclosure - 5. DEBT (Tables)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesTables" id="CommitmentsAndContingenciesTables">
	  <link:definition>0030 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Tables)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/FairValueMeasurementsTables" id="FairValueMeasurementsTables">
	  <link:definition>0031 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Tables)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/EarningsPerShareTables" id="EarningsPerShareTables">
	  <link:definition>0032 - Disclosure - 9. EARNINGS PER SHARE (Tables)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentationDetailsNarrative" id="OrganizationAndBasisOfPresentationDetailsNarrative">
	  <link:definition>0033 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/VariableInterestEntityDetails" id="VariableInterestEntityDetails">
	  <link:definition>0034 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/VariableInterestEntityDetailsNarrative" id="VariableInterestEntityDetailsNarrative">
	  <link:definition>0035 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/InventoriesDetails" id="InventoriesDetails">
	  <link:definition>0036 - Disclosure - 3. INVENTORIES (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/DerivativesDetails" id="DerivativesDetails">
	  <link:definition>0037 - Disclosure - 4. DERIVATIVES (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/DerivativesDetailsNarrative" id="DerivativesDetailsNarrative">
	  <link:definition>0038 - Disclosure - 4. DERIVATIVES (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/DebtDetails" id="DebtDetails">
	  <link:definition>0039 - Disclosure - 5. DEBT (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/DebtDetailsNarrative" id="DebtDetailsNarrative">
	  <link:definition>0040 - Disclosure - 5. DEBT (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/WarrantsDetailsNarrative" id="WarrantsDetailsNarrative">
	  <link:definition>0041 - Disclosure - 6. COMMON STOCK AND WARRANTS (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesDetails" id="CommitmentsAndContingenciesDetails">
	  <link:definition>0042 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesDetailsNarrative" id="CommitmentsAndContingenciesDetailsNarrative">
	  <link:definition>0043 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails" id="FairValueMeasurementsDetails">
	  <link:definition>0044 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails2" id="FairValueMeasurementsDetails2">
	  <link:definition>0045 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 1)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails1" id="FairValueMeasurementsDetails1">
	  <link:definition>0046 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 2)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/EarningsPerShareDetails" id="EarningsPerShareDetails">
	  <link:definition>0047 - Disclosure - 9. EARNINGS PER SHARE (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/EarningsPerShareDetailsNarrative" id="EarningsPerShareDetailsNarrative">
	  <link:definition>0048 - Disclosure - 9. EARNINGS PER SHARE (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://compsciresources.com/role/RelatedPartyTransactionsDetailsNarrative" id="RelatedPartyTransactionsDetailsNarrative">
	  <link:definition>0049 - Disclosure - 10. RELATED PARTY TRANSACTIONS (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:linkbaseRef xlink:type="simple" xlink:href="peix-20120930_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links" />
	<link:linkbaseRef xlink:type="simple" xlink:href="peix-20120930_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links" />
	<link:linkbaseRef xlink:type="simple" xlink:href="peix-20120930_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Calculation Links" />
	<link:linkbaseRef xlink:type="simple" xlink:href="peix-20120930_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Definition Links" />
      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2012-01-31" schemaLocation="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd" />
    <import namespace="http://fasb.org/us-gaap/2012-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd" />
    <import namespace="http://fasb.org/us-types/2012-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2012/elts/us-types-2012-01-31.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
    <import namespace="http://xbrl.sec.gov/invest/2012-01-31" schemaLocation="http://xbrl.sec.gov/invest/2012/invest-2012-01-31.xsd" />
    <element id="peix_CommodityContractsMember" name="CommodityContractsMember" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_EthanolMember" name="EthanolMember" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_WetDistillersGrainMember" name="WetDistillersGrainMember" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_WarrantsIssuedOctober2010Member" name="WarrantsIssuedOctober2010Member" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_WarrantsIssuedDecember2011Member" name="WarrantsIssuedDecember2011Member" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_VIEBalanceSheetMember" name="VIEBalanceSheetMember" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_KinergyMember" name="KinergyMember" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_PlantOwnersMember" name="PlantOwnersMember" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_Warrants1IssuedJuly2012Member" name="Warrants1IssuedJuly2012Member" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_Warrants2IssuedJuly2012Member" name="Warrants2IssuedJuly2012Member" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_WarrantsIssuedSeptember2012Member" name="WarrantsIssuedSeptember2012Member" nillable="true" xbrli:periodType="duration" type="nonnum:domainItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DocumentAndEntityInformationAbstract" name="DocumentAndEntityInformationAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_WarrantLiabilities" name="WarrantLiabilities" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" name="FairValueAdjustmentsOnConvertibleDebtAndWarrants" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" name="AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_InterestOnConvertibleDebtPaidWithStock" name="InterestOnConvertibleDebtPaidWithStock" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_ChangesInOperatingAssetsAndLiabilitiesAbstract" name="ChangesInOperatingAssetsAndLiabilitiesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_NetCashImpactOfBankruptcyExit" name="NetCashImpactOfBankruptcyExit" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity" name="NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_PreferredStockDividendsAccrued" name="PreferredStockDividendsAccrued" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants" name="ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DeconsolidationOfFrontRange" name="DeconsolidationOfFrontRange" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_ConsolidationOfNewPEHoldco" name="ConsolidationOfNewPEHoldco" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_ConversionOfPreferredStockToCommonStock" name="ConversionOfPreferredStockToCommonStock" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_ConversionOfPreferredStockToCommonStockShares" name="ConversionOfPreferredStockToCommonStockShares" nillable="true" xbrli:periodType="duration" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" />
    <element id="peix_StockIssuedWarrantExercises" name="StockIssuedWarrantExercises" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_SharesIssuedWarrantExercisesShares" name="SharesIssuedWarrantExercisesShares" nillable="true" xbrli:periodType="duration" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" />
    <element id="peix_SharesIssuedInDebtExtinguishments" name="SharesIssuedInDebtExtinguishments" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_OrganizationAndBasisOfPresentationAbstract" name="OrganizationAndBasisOfPresentationAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_VariableInterestEntityAbstract" name="VariableInterestEntityAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_VariableInterestEntityTextBlock" name="VariableInterestEntityTextBlock" nillable="true" xbrli:periodType="duration" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" />
    <element id="peix_InventoriesAbstract" name="InventoriesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DerivativesAbstract" name="DerivativesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DebtAbstract" name="DebtAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_CommonStockAndWarrantsAbstract" name="CommonStockAndWarrantsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_CommitmentsAndContingenciesAbstract" name="CommitmentsAndContingenciesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_FairValueMeasurementsAbstract" name="FairValueMeasurementsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_SubsequentEventAbstract" name="SubsequentEventAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_NotesToFinancialStatementsAbstract" name="NotesToFinancialStatementsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock" name="PartialCompanyFinancialInChapter11OrReorganizationTextBlock" nillable="true" xbrli:periodType="duration" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" />
    <element id="peix_OrganizationAndBasisOfPresentationPoliciesAbstract" name="OrganizationAndBasisOfPresentationPoliciesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_VariableInterestEntityTablesAbstract" name="VariableInterestEntityTablesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_InventoriesTablesAbstract" name="InventoriesTablesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DerivativesTablesAbstract" name="DerivativesTablesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DebtTablesAbstract" name="DebtTablesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_CommitmentsAndContingenciesTablesAbstract" name="CommitmentsAndContingenciesTablesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_SalesCommitmentsTextBlock" name="SalesCommitmentsTextBlock" nillable="true" xbrli:periodType="duration" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" />
    <element id="peix_FairValueMeasurementsTablesAbstract" name="FairValueMeasurementsTablesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_EarningsPerShareTablesAbstract" name="EarningsPerShareTablesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_OrganizationAndBasisOfPresentationDetailsNarrativeAbstract" name="OrganizationAndBasisOfPresentationDetailsNarrativeAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_LineOfCreditCollateralUsed" name="LineOfCreditCollateralUsed" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_VariableInterestEntityDetailsAbstract" name="VariableInterestEntityDetailsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_CashAndCashEquivalentsVIE" name="CashAndCashEquivalentsVIE" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_OtherCurrentAssetsVIE" name="OtherCurrentAssetsVIE" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_PropertyAndEquipmentVIE" name="PropertyAndEquipmentVIE" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_OtherAssetsVIE" name="OtherAssetsVIE" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_TotalAssetsVIE" name="TotalAssetsVIE" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_CurrentLiabilitiesVIE" name="CurrentLiabilitiesVIE" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_LongAndShortTermDebt" name="LongAndShortTermDebt" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_OtherLiabilitiesVIE" name="OtherLiabilitiesVIE" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_TotalLiabilitiesVIE" name="TotalLiabilitiesVIE" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_VariableInterestEntityDetailsNarrativeAbstract" name="VariableInterestEntityDetailsNarrativeAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_InventoriesDetailsAbstract" name="InventoriesDetailsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DerivativesDetailsAbstract" name="DerivativesDetailsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DerivativesDetailsNarrativeAbstract" name="DerivativesDetailsNarrativeAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_AdditionalTextualsAbstract" name="AdditionalTextualsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_NonDesignatedDerivativeOtherAssets" name="NonDesignatedDerivativeOtherAssets" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DebtDetailsAbstract" name="DebtDetailsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_NewPeHoldcoOperatingLineOfCredit" name="NewPeHoldcoOperatingLineOfCredit" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_DebtDetailsNarrativeAbstract" name="DebtDetailsNarrativeAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_RecordedInterestNotesPayableRelatedParty" name="RecordedInterestNotesPayableRelatedParty" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis" name="ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis" nillable="true" xbrli:periodType="duration" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" />
    <element id="peix_NetSharesOfCommonStockIssued" name="NetSharesOfCommonStockIssued" nillable="true" xbrli:periodType="duration" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" />
    <element id="peix_CommitmentsAndContingenciesDetailsAbstract" name="CommitmentsAndContingenciesDetailsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_SalesCommitmentByCategoryOfItemAxis" name="SalesCommitmentByCategoryOfItemAxis" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" />
    <element id="peix_SalesCommitmentsAbstract" name="SalesCommitmentsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" name="SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_CommitmentsAndContingenciesDetailsTextualsAbstract" name="CommitmentsAndContingenciesDetailsTextualsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_PurchaseCommitmentsAbstract" name="PurchaseCommitmentsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_FairValueMeasurementsDetailsAbstract" name="FairValueMeasurementsDetailsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_FairValueAssumptionsMarketabilityDiscount" name="FairValueAssumptionsMarketabilityDiscount" nillable="true" xbrli:periodType="duration" type="num:percentItemType" substitutionGroup="xbrli:item" />
    <element id="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" name="FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_JulyOffering" name="JulyOffering" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_SeptemberOffering" name="SeptemberOffering" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" />
    <element id="peix_EarningsPerShareDetailsAbstract" name="EarningsPerShareDetailsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_EarningsPerShareDetailsTextualsAbstract" name="EarningsPerShareDetailsTextualsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare" name="ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare" nillable="true" xbrli:periodType="duration" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" />
    <element id="peix_RelatedPartyTransactionsDetailsTextualsAbstract" name="RelatedPartyTransactionsDetailsTextualsAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_AdditionalRelatedPartiesAbstract" name="AdditionalRelatedPartiesAbstract" abstract="true" nillable="true" xbrli:periodType="duration" type="xbrli:stringItemType" substitutionGroup="xbrli:item" />
    <element id="peix_PurchaseCommitmentMinimumVolumeRequired" name="PurchaseCommitmentMinimumVolumeRequired" nillable="true" xbrli:periodType="instant" type="num:volumeItemType" substitutionGroup="xbrli:item" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>15
<FILENAME>peix-20120930_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 3.4b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Source; Value: paceth_s1%2D2013%2D3.xfr; Date: 2013/02/08T21:01:51 -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x800D0000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://compsciresources.com/role/DocumentAndEntityInformation" xlink:href="peix-20120930.xsd#DocumentAndEntityInformation" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedBalanceSheets" xlink:href="peix-20120930.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="peix-20120930.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfOperations" xlink:href="peix-20120930.xsd#ConsolidatedStatementsOfOperations" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="peix-20120930.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:href="peix-20120930.xsd#ConsolidatedStatementsOfStockholdersEquity" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentation" xlink:href="peix-20120930.xsd#OrganizationAndBasisOfPresentation" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntity" xlink:href="peix-20120930.xsd#VariableInterestEntity" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Inventories" xlink:href="peix-20120930.xsd#Inventories" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Derivatives" xlink:href="peix-20120930.xsd#Derivatives" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Debt" xlink:href="peix-20120930.xsd#Debt" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Warrants" xlink:href="peix-20120930.xsd#Warrants" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingencies" xlink:href="peix-20120930.xsd#CommitmentsAndContingencies" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurements" xlink:href="peix-20120930.xsd#FairValueMeasurements" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShare" xlink:href="peix-20120930.xsd#EarningsPerShare" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/RelatedPartyTransactions" xlink:href="peix-20120930.xsd#RelatedPartyTransactions" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/SubsequentEvent" xlink:href="peix-20120930.xsd#SubsequentEvent" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/PropertyAndEquipmentDec2011Only" xlink:href="peix-20120930.xsd#PropertyAndEquipmentDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/IntangibleAssetsDec2011Only" xlink:href="peix-20120930.xsd#IntangibleAssetsDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/AccountingForEmergenceFromBankruptcyDec2011Only" xlink:href="peix-20120930.xsd#AccountingForEmergenceFromBankruptcyDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/IncomeTaxesDec2011Only" xlink:href="peix-20120930.xsd#IncomeTaxesDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/PreferredStockDec2011Only" xlink:href="peix-20120930.xsd#PreferredStockDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Stock-BasedCompensationDec2011Only" xlink:href="peix-20120930.xsd#Stock-BasedCompensationDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" xlink:href="peix-20120930.xsd#PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentationPolicies" xlink:href="peix-20120930.xsd#OrganizationAndBasisOfPresentationPolicies" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntityTables" xlink:href="peix-20120930.xsd#VariableInterestEntityTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/InventoriesTables" xlink:href="peix-20120930.xsd#InventoriesTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DerivativesTables" xlink:href="peix-20120930.xsd#DerivativesTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DebtTables" xlink:href="peix-20120930.xsd#DebtTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesTables" xlink:href="peix-20120930.xsd#CommitmentsAndContingenciesTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsTables" xlink:href="peix-20120930.xsd#FairValueMeasurementsTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShareTables" xlink:href="peix-20120930.xsd#EarningsPerShareTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentationDetailsNarrative" xlink:href="peix-20120930.xsd#OrganizationAndBasisOfPresentationDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntityDetails" xlink:href="peix-20120930.xsd#VariableInterestEntityDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntityDetailsNarrative" xlink:href="peix-20120930.xsd#VariableInterestEntityDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/InventoriesDetails" xlink:href="peix-20120930.xsd#InventoriesDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DerivativesDetails" xlink:href="peix-20120930.xsd#DerivativesDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DerivativesDetailsNarrative" xlink:href="peix-20120930.xsd#DerivativesDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DebtDetails" xlink:href="peix-20120930.xsd#DebtDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DebtDetailsNarrative" xlink:href="peix-20120930.xsd#DebtDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/WarrantsDetailsNarrative" xlink:href="peix-20120930.xsd#WarrantsDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesDetails" xlink:href="peix-20120930.xsd#CommitmentsAndContingenciesDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesDetailsNarrative" xlink:href="peix-20120930.xsd#CommitmentsAndContingenciesDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails" xlink:href="peix-20120930.xsd#FairValueMeasurementsDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails2" xlink:href="peix-20120930.xsd#FairValueMeasurementsDetails2" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails1" xlink:href="peix-20120930.xsd#FairValueMeasurementsDetails1" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShareDetails" xlink:href="peix-20120930.xsd#EarningsPerShareDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShareDetailsNarrative" xlink:href="peix-20120930.xsd#EarningsPerShareDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/RelatedPartyTransactionsDetailsNarrative" xlink:href="peix-20120930.xsd#RelatedPartyTransactionsDetailsNarrative" xlink:type="simple" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DocumentAndEntityInformation" xlink:title="0001 - Document - Document and Entity Information" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedBalanceSheets" xlink:title="0002 - Statement - CONSOLIDATED BALANCE SHEETS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_peixAssetsCurrent" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_peixCashAndCashEquivalentsAtCarryingValue" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixAssetsCurrent" xlink:to="loc_peixCashAndCashEquivalentsAtCarryingValue" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_peixAccountsReceivableNetCurrent" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixAssetsCurrent" xlink:to="loc_peixAccountsReceivableNetCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryNet" xlink:label="loc_peixInventoryNet" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixAssetsCurrent" xlink:to="loc_peixInventoryNet" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherInventory" xlink:label="loc_peixOtherInventory" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixAssetsCurrent" xlink:to="loc_peixOtherInventory" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="loc_peixOtherAssetsCurrent" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixAssetsCurrent" xlink:to="loc_peixOtherAssetsCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_peixOtherAssets" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_peixIntangibleAssetsNetExcludingGoodwill" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixOtherAssets" xlink:to="loc_peixIntangibleAssetsNetExcludingGoodwill" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="loc_peixOtherAssetsNoncurrent" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixOtherAssets" xlink:to="loc_peixOtherAssetsNoncurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Assets" xlink:label="loc_peixAssets" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixAssets" xlink:to="loc_peixAssetsCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_peixPropertyPlantAndEquipmentNet" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixAssets" xlink:to="loc_peixPropertyPlantAndEquipmentNet" xlink:type="arc" weight="1" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixAssets" xlink:to="loc_peixOtherAssets" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_peixLiabilitiesCurrent" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="loc_peixAccountsPayableCurrent" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilitiesCurrent" xlink:to="loc_peixAccountsPayableCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="loc_peixAccruedLiabilitiesCurrent" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilitiesCurrent" xlink:to="loc_peixAccruedLiabilitiesCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableCurrent" xlink:label="loc_peixDividendsPayableCurrent" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilitiesCurrent" xlink:to="loc_peixDividendsPayableCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="loc_peixLongTermDebtCurrent" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilitiesCurrent" xlink:to="loc_peixLongTermDebtCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_peixLiabilities" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilities" xlink:to="loc_peixLiabilitiesCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_peixLongTermDebtNoncurrent" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilities" xlink:to="loc_peixLongTermDebtNoncurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="loc_peixOtherLiabilitiesNoncurrent" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilities" xlink:to="loc_peixOtherLiabilitiesNoncurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAccruedLiabilitiesNoncurrent" xlink:label="loc_peixOtherAccruedLiabilitiesNoncurrent" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilities" xlink:to="loc_peixOtherAccruedLiabilitiesNoncurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantLiabilities" xlink:label="loc_peixWarrantLiabilities" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilities" xlink:to="loc_peixWarrantLiabilities" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_peixStockholdersEquity" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_peixPreferredStockValue" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixStockholdersEquity" xlink:to="loc_peixPreferredStockValue" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_peixCommonStockValue" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixStockholdersEquity" xlink:to="loc_peixCommonStockValue" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="loc_peixAdditionalPaidInCapital" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixStockholdersEquity" xlink:to="loc_peixAdditionalPaidInCapital" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_peixRetainedEarningsAccumulatedDeficit" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixStockholdersEquity" xlink:to="loc_peixRetainedEarningsAccumulatedDeficit" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="loc_peixStockholdersEquity" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInJointVentures" xlink:label="loc_peixMinorityInterestInJointVentures" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="loc_peixMinorityInterestInJointVentures" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_peixLiabilitiesAndStockholdersEquity" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilitiesAndStockholdersEquity" xlink:to="loc_peixLiabilities" xlink:type="arc" weight="1" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixLiabilitiesAndStockholdersEquity" xlink:to="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" weight="1" />
    </link:calculationLink>
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:title="0003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedStatementsOfOperations" xlink:title="0004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GrossProfit" xlink:label="loc_peixGrossProfit" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SalesRevenueNet" xlink:label="loc_peixSalesRevenueNet" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixGrossProfit" xlink:to="loc_peixSalesRevenueNet" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfGoodsSold" xlink:label="loc_peixCostOfGoodsSold" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixGrossProfit" xlink:to="loc_peixCostOfGoodsSold" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_peixOperatingIncomeLoss" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixOperatingIncomeLoss" xlink:to="loc_peixGrossProfit" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpense" xlink:label="loc_peixSellingGeneralAndAdministrativeExpense" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixOperatingIncomeLoss" xlink:to="loc_peixSellingGeneralAndAdministrativeExpense" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="loc_peixOperatingIncomeLoss" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:label="loc_peixFairValueAdjustmentsOnConvertibleDebtAndWarrants" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="loc_peixFairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_peixInterestExpense" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="loc_peixInterestExpense" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherGeneralExpense" xlink:label="loc_peixOtherGeneralExpense" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="loc_peixOtherGeneralExpense" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="loc_peixGainLossOnInvestments" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="loc_peixGainLossOnInvestments" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_peixGainsLossesOnExtinguishmentOfDebt" />
      <link:calculationArc order="600" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="loc_peixGainsLossesOnExtinguishmentOfDebt" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_peixProfitLoss" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixProfitLoss" xlink:to="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_peixIncomeTaxExpenseBenefit" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixProfitLoss" xlink:to="loc_peixIncomeTaxExpenseBenefit" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReorganizationItems" xlink:label="loc_peixReorganizationItems" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixProfitLoss" xlink:to="loc_peixReorganizationItems" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:label="loc_peixDebtorReorganizationItemsDischargeOfClaimsAndLiabilities" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixProfitLoss" xlink:to="loc_peixDebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_peixNetIncomeLoss" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetIncomeLoss" xlink:to="loc_peixProfitLoss" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" xlink:label="loc_peixIncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetIncomeLoss" xlink:to="loc_peixIncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_peixNetIncomeLossAvailableToCommonStockholdersBasic" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="loc_peixNetIncomeLoss" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPreferredStock" xlink:label="loc_peixDividendsPreferredStock" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="loc_peixDividendsPreferredStock" xlink:type="arc" weight="-1" />
    </link:calculationLink>
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedStatementsOfCashFlows" xlink:title="0005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_peixNetCashProvidedByUsedInOperatingActivities" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_peixProfitLoss" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixProfitLoss" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_peixAmortizationOfIntangibleAssets" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixAmortizationOfIntangibleAssets" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:label="loc_peixFairValueAdjustmentsOnConvertibleDebtAndWarrants" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixFairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:label="loc_peixAmortizationOfFinancingCostsAndDiscounts" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixAmortizationOfFinancingCostsAndDiscounts" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherNoncashExpense" xlink:label="loc_peixOtherNoncashExpense" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixOtherNoncashExpense" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_peixIncreaseDecreaseInAccountsReceivable" />
      <link:calculationArc order="600" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixIncreaseDecreaseInAccountsReceivable" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="loc_peixIncreaseDecreaseInInventories" />
      <link:calculationArc order="700" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixIncreaseDecreaseInInventories" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="loc_peixIncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" />
      <link:calculationArc order="800" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixIncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:label="loc_peixIncreaseDecreaseInOtherCurrentAssets" />
      <link:calculationArc order="900" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixIncreaseDecreaseInOtherCurrentAssets" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_peixIncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
      <link:calculationArc order="1000" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixIncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryWriteDown" xlink:label="loc_peixInventoryWriteDown" />
      <link:calculationArc order="1100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixInventoryWriteDown" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" xlink:label="loc_peixAllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" />
      <link:calculationArc order="1200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixAllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities" xlink:label="loc_peixIncreaseDecreaseInDerivativeAssetsAndLiabilities" />
      <link:calculationArc order="1300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixIncreaseDecreaseInDerivativeAssetsAndLiabilities" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_InterestOnConvertibleDebtPaidWithStock" xlink:label="loc_peixInterestOnConvertibleDebtPaidWithStock" />
      <link:calculationArc order="1400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixInterestOnConvertibleDebtPaidWithStock" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:label="loc_peixDebtorReorganizationItemsDischargeOfClaimsAndLiabilities" />
      <link:calculationArc order="1500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixDebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="loc_peixGainLossOnInvestments" />
      <link:calculationArc order="1600" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixGainLossOnInvestments" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_peixGainsLossesOnExtinguishmentOfDebt" />
      <link:calculationArc order="1700" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixGainsLossesOnExtinguishmentOfDebt" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireInvestments" xlink:label="loc_peixPaymentsToAcquireInvestments" />
      <link:calculationArc order="1800" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixPaymentsToAcquireInvestments" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_peixIncomeLossFromEquityMethodInvestments" />
      <link:calculationArc order="1900" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_peixIncomeLossFromEquityMethodInvestments" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_peixNetCashProvidedByUsedInInvestingActivities" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="loc_peixPaymentsToAcquirePropertyPlantAndEquipment" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivities" xlink:to="loc_peixPaymentsToAcquirePropertyPlantAndEquipment" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates" xlink:label="loc_peixPaymentsToAcquireBusinessesAndInterestInAffiliates" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivities" xlink:to="loc_peixPaymentsToAcquireBusinessesAndInterestInAffiliates" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_peixPaymentsToAcquireBusinessesNetOfCashAcquired" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivities" xlink:to="loc_peixPaymentsToAcquireBusinessesNetOfCashAcquired" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments" xlink:label="loc_peixProceedsFromSaleMaturityAndCollectionsOfInvestments" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivities" xlink:to="loc_peixProceedsFromSaleMaturityAndCollectionsOfInvestments" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashDivestedFromDeconsolidation" xlink:label="loc_peixCashDivestedFromDeconsolidation" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivities" xlink:to="loc_peixCashDivestedFromDeconsolidation" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NetCashImpactOfBankruptcyExit" xlink:label="loc_peixNetCashImpactOfBankruptcyExit" />
      <link:calculationArc order="600" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivities" xlink:to="loc_peixNetCashImpactOfBankruptcyExit" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_peixNetCashProvidedByUsedInFinancingActivities" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:label="loc_peixProceedsFromIssuanceOrSaleOfEquity" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:to="loc_peixProceedsFromIssuanceOrSaleOfEquity" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromOtherDebt" xlink:label="loc_peixProceedsFromOtherDebt" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:to="loc_peixProceedsFromOtherDebt" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:label="loc_peixPaymentsOfDividendsPreferredStockAndPreferenceStock" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:to="loc_peixPaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromConvertibleDebt" xlink:label="loc_peixProceedsFromConvertibleDebt" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:to="loc_peixProceedsFromConvertibleDebt" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="loc_peixRepaymentsOfNotesPayable" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:to="loc_peixRepaymentsOfNotesPayable" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDebtIssuanceCosts" xlink:label="loc_peixPaymentsOfDebtIssuanceCosts" />
      <link:calculationArc order="600" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:to="loc_peixPaymentsOfDebtIssuanceCosts" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfOtherDebt" xlink:label="loc_peixProceedsFromRepaymentsOfOtherDebt" />
      <link:calculationArc order="700" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:to="loc_peixProceedsFromRepaymentsOfOtherDebt" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfRelatedPartyDebt" xlink:label="loc_peixRepaymentsOfRelatedPartyDebt" />
      <link:calculationArc order="800" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:to="loc_peixRepaymentsOfRelatedPartyDebt" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_peixCashAndCashEquivalentsPeriodIncreaseDecrease" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixCashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:type="arc" weight="1" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixCashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="loc_peixNetCashProvidedByUsedInInvestingActivities" xlink:type="arc" weight="1" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_peixCashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:type="arc" weight="1" />
    </link:calculationLink>
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:title="0006 - Statement - CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/OrganizationAndBasisOfPresentation" xlink:title="0007 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntity" xlink:title="0008 - Disclosure - 2. VARIABLE INTEREST ENTITY" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Inventories" xlink:title="0009 - Disclosure - 3. INVENTORIES" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Derivatives" xlink:title="0010 - Disclosure - 4. DERIVATIVES" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Debt" xlink:title="0011 - Disclosure - 5. DEBT" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Warrants" xlink:title="0012 - Disclosure - 6. COMMON STOCK AND WARRANTS" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingencies" xlink:title="0013 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurements" xlink:title="0014 - Disclosure - 8. FAIR VALUE MEASUREMENTS" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShare" xlink:title="0015 - Disclosure - 9. EARNINGS PER SHARE" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/RelatedPartyTransactions" xlink:title="0016 - Disclosure - 10. RELATED PARTY TRANSACTIONS" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/SubsequentEvent" xlink:title="0017 - Disclosure - 11. SUBSEQUENT EVENT" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/PropertyAndEquipmentDec2011Only" xlink:title="0018 - Disclosure - 3. PROPERTY AND EQUIPMENT (Dec 2011 only)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/IntangibleAssetsDec2011Only" xlink:title="0019 - Disclosure - 4. INTANGIBLE ASSETS (Dec 2011 only)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/AccountingForEmergenceFromBankruptcyDec2011Only" xlink:title="0020 - Disclosure - 7. ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY (Dec 2011 only)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/IncomeTaxesDec2011Only" xlink:title="0021 - Disclosure - 8. INCOME TAXES (Dec 2011 only)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/PreferredStockDec2011Only" xlink:title="0022 - Disclosure - 9. PREFERRED STOCK (Dec 2011 only)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Stock-BasedCompensationDec2011Only" xlink:title="0023 - Disclosure - 11. STOCK-BASED COMPENSATION (Dec 2011 only)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" xlink:title="0024 - Disclosure - 15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/OrganizationAndBasisOfPresentationPolicies" xlink:title="0025 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Policies)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntityTables" xlink:title="0026 - Disclosure - 2. VARIABLE INTEREST ENTITY (Tables)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/InventoriesTables" xlink:title="0027 - Disclosure - 3. INVENTORIES (Tables)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DerivativesTables" xlink:title="0028 - Disclosure - 4. DERIVATIVES (Tables)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DebtTables" xlink:title="0029 - Disclosure - 5. DEBT (Tables)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingenciesTables" xlink:title="0030 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Tables)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsTables" xlink:title="0031 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Tables)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShareTables" xlink:title="0032 - Disclosure - 9. EARNINGS PER SHARE (Tables)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/OrganizationAndBasisOfPresentationDetailsNarrative" xlink:title="0033 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntityDetails" xlink:title="0034 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntityDetailsNarrative" xlink:title="0035 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/InventoriesDetails" xlink:title="0036 - Disclosure - 3. INVENTORIES (Details)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DerivativesDetails" xlink:title="0037 - Disclosure - 4. DERIVATIVES (Details)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DerivativesDetailsNarrative" xlink:title="0038 - Disclosure - 4. DERIVATIVES (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DebtDetails" xlink:title="0039 - Disclosure - 5. DEBT (Details)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DebtDetailsNarrative" xlink:title="0040 - Disclosure - 5. DEBT (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/WarrantsDetailsNarrative" xlink:title="0041 - Disclosure - 6. COMMON STOCK AND WARRANTS (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingenciesDetails" xlink:title="0042 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingenciesDetailsNarrative" xlink:title="0043 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsDetails" xlink:title="0044 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsDetails2" xlink:title="0045 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 1)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsDetails1" xlink:title="0046 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 2)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShareDetails" xlink:title="0047 - Disclosure - 9. EARNINGS PER SHARE (Details)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShareDetailsNarrative" xlink:title="0048 - Disclosure - 9. EARNINGS PER SHARE (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/RelatedPartyTransactionsDetailsNarrative" xlink:title="0049 - Disclosure - 10. RELATED PARTY TRANSACTIONS (Details Narrative)" />
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>16
<FILENAME>peix-20120930_def.xml
<DESCRIPTION>XBRL DEFINITION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 3.4b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Source; Value: paceth_s1%2D2013%2D3.xfr; Date: 2013/02/08T21:01:51 -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x800D0000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://compsciresources.com/role/DocumentAndEntityInformation" xlink:href="peix-20120930.xsd#DocumentAndEntityInformation" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedBalanceSheets" xlink:href="peix-20120930.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="peix-20120930.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfOperations" xlink:href="peix-20120930.xsd#ConsolidatedStatementsOfOperations" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="peix-20120930.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:href="peix-20120930.xsd#ConsolidatedStatementsOfStockholdersEquity" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentation" xlink:href="peix-20120930.xsd#OrganizationAndBasisOfPresentation" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntity" xlink:href="peix-20120930.xsd#VariableInterestEntity" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Inventories" xlink:href="peix-20120930.xsd#Inventories" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Derivatives" xlink:href="peix-20120930.xsd#Derivatives" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Debt" xlink:href="peix-20120930.xsd#Debt" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Warrants" xlink:href="peix-20120930.xsd#Warrants" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingencies" xlink:href="peix-20120930.xsd#CommitmentsAndContingencies" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurements" xlink:href="peix-20120930.xsd#FairValueMeasurements" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShare" xlink:href="peix-20120930.xsd#EarningsPerShare" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/RelatedPartyTransactions" xlink:href="peix-20120930.xsd#RelatedPartyTransactions" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/SubsequentEvent" xlink:href="peix-20120930.xsd#SubsequentEvent" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/PropertyAndEquipmentDec2011Only" xlink:href="peix-20120930.xsd#PropertyAndEquipmentDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/IntangibleAssetsDec2011Only" xlink:href="peix-20120930.xsd#IntangibleAssetsDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/AccountingForEmergenceFromBankruptcyDec2011Only" xlink:href="peix-20120930.xsd#AccountingForEmergenceFromBankruptcyDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/IncomeTaxesDec2011Only" xlink:href="peix-20120930.xsd#IncomeTaxesDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/PreferredStockDec2011Only" xlink:href="peix-20120930.xsd#PreferredStockDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Stock-BasedCompensationDec2011Only" xlink:href="peix-20120930.xsd#Stock-BasedCompensationDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" xlink:href="peix-20120930.xsd#PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentationPolicies" xlink:href="peix-20120930.xsd#OrganizationAndBasisOfPresentationPolicies" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntityTables" xlink:href="peix-20120930.xsd#VariableInterestEntityTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/InventoriesTables" xlink:href="peix-20120930.xsd#InventoriesTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DerivativesTables" xlink:href="peix-20120930.xsd#DerivativesTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DebtTables" xlink:href="peix-20120930.xsd#DebtTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesTables" xlink:href="peix-20120930.xsd#CommitmentsAndContingenciesTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsTables" xlink:href="peix-20120930.xsd#FairValueMeasurementsTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShareTables" xlink:href="peix-20120930.xsd#EarningsPerShareTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentationDetailsNarrative" xlink:href="peix-20120930.xsd#OrganizationAndBasisOfPresentationDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntityDetails" xlink:href="peix-20120930.xsd#VariableInterestEntityDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntityDetailsNarrative" xlink:href="peix-20120930.xsd#VariableInterestEntityDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/InventoriesDetails" xlink:href="peix-20120930.xsd#InventoriesDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DerivativesDetails" xlink:href="peix-20120930.xsd#DerivativesDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DerivativesDetailsNarrative" xlink:href="peix-20120930.xsd#DerivativesDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DebtDetails" xlink:href="peix-20120930.xsd#DebtDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DebtDetailsNarrative" xlink:href="peix-20120930.xsd#DebtDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/WarrantsDetailsNarrative" xlink:href="peix-20120930.xsd#WarrantsDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesDetails" xlink:href="peix-20120930.xsd#CommitmentsAndContingenciesDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesDetailsNarrative" xlink:href="peix-20120930.xsd#CommitmentsAndContingenciesDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails" xlink:href="peix-20120930.xsd#FairValueMeasurementsDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails2" xlink:href="peix-20120930.xsd#FairValueMeasurementsDetails2" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails1" xlink:href="peix-20120930.xsd#FairValueMeasurementsDetails1" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShareDetails" xlink:href="peix-20120930.xsd#EarningsPerShareDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShareDetailsNarrative" xlink:href="peix-20120930.xsd#EarningsPerShareDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/RelatedPartyTransactionsDetailsNarrative" xlink:href="peix-20120930.xsd#RelatedPartyTransactionsDetailsNarrative" xlink:type="simple" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#notAll" arcroleURI="http://xbrl.org/int/dim/arcrole/notAll" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DocumentAndEntityInformation" xlink:title="0001 - Document - Document and Entity Information" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedBalanceSheets" xlink:title="0002 - Statement - CONSOLIDATED BALANCE SHEETS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_peixStatementClassOfStockAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementClassOfStockAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_peixClassOfStockDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixStatementClassOfStockAxis" xlink:to="loc_peixClassOfStockDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_peixClassOfStockDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixStatementClassOfStockAxis" xlink:to="loc_peixClassOfStockDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesAPreferredStockMember" xlink:label="loc_peixSeriesAPreferredStockMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixClassOfStockDomain" xlink:to="loc_peixSeriesAPreferredStockMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesBPreferredStockMember" xlink:label="loc_peixSeriesBPreferredStockMember_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixClassOfStockDomain" xlink:to="loc_peixSeriesBPreferredStockMember_50" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="loc_peixAssetsCurrentAbstract_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixAssetsCurrentAbstract_90" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_peixCashAndCashEquivalentsAtCarryingValue_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixAssetsCurrentAbstract_90" xlink:to="loc_peixCashAndCashEquivalentsAtCarryingValue_90" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_peixAccountsReceivableNetCurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixAssetsCurrentAbstract_90" xlink:to="loc_peixAccountsReceivableNetCurrent_90" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryNet" xlink:label="loc_peixInventoryNet_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixAssetsCurrentAbstract_90" xlink:to="loc_peixInventoryNet_90" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherInventory" xlink:label="loc_peixOtherInventory_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixAssetsCurrentAbstract_90" xlink:to="loc_peixOtherInventory_90" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="loc_peixOtherAssetsCurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixAssetsCurrentAbstract_90" xlink:to="loc_peixOtherAssetsCurrent_90" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_peixAssetsCurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixAssetsCurrentAbstract_90" xlink:to="loc_peixAssetsCurrent_90" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_peixPropertyPlantAndEquipmentNet_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixAssetsCurrentAbstract_90" xlink:to="loc_peixPropertyPlantAndEquipmentNet_90" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsAbstract" xlink:label="loc_peixOtherAssetsAbstract_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixAssetsCurrentAbstract_90" xlink:to="loc_peixOtherAssetsAbstract_90" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_peixIntangibleAssetsNetExcludingGoodwill_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixOtherAssetsAbstract_90" xlink:to="loc_peixIntangibleAssetsNetExcludingGoodwill_90" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="loc_peixOtherAssetsNoncurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixOtherAssetsAbstract_90" xlink:to="loc_peixOtherAssetsNoncurrent_90" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_peixOtherAssets_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixOtherAssetsAbstract_90" xlink:to="loc_peixOtherAssets_90" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Assets" xlink:label="loc_peixAssets_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixOtherAssetsAbstract_90" xlink:to="loc_peixAssets_90" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="loc_peixLiabilitiesCurrentAbstract_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixOtherAssetsAbstract_90" xlink:to="loc_peixLiabilitiesCurrentAbstract_90" xlink:type="arc" order="13" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="loc_peixAccountsPayableCurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixAccountsPayableCurrent_90" xlink:type="arc" order="14" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="loc_peixAccruedLiabilitiesCurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixAccruedLiabilitiesCurrent_90" xlink:type="arc" order="15" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableCurrent" xlink:label="loc_peixDividendsPayableCurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixDividendsPayableCurrent_90" xlink:type="arc" order="16" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="loc_peixLongTermDebtCurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixLongTermDebtCurrent_90" xlink:type="arc" order="17" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_peixLiabilitiesCurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixLiabilitiesCurrent_90" xlink:type="arc" order="18" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_peixLongTermDebtNoncurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixLongTermDebtNoncurrent_90" xlink:type="arc" order="19" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAccruedLiabilitiesNoncurrent" xlink:label="loc_peixOtherAccruedLiabilitiesNoncurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixOtherAccruedLiabilitiesNoncurrent_90" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantLiabilities" xlink:label="loc_peixWarrantLiabilities_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixWarrantLiabilities_90" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="loc_peixOtherLiabilitiesNoncurrent_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixOtherLiabilitiesNoncurrent_90" xlink:type="arc" order="22" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_peixLiabilities_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixLiabilities_90" xlink:type="arc" order="23" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_peixCommitmentsAndContingencies_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixCommitmentsAndContingencies_90" xlink:type="arc" order="24" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_peixLiabilitiesAndStockholdersEquityAbstract_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesCurrentAbstract_90" xlink:to="loc_peixLiabilitiesAndStockholdersEquityAbstract_90" xlink:type="arc" order="25" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_peixStockholdersEquityAbstract_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesAndStockholdersEquityAbstract_90" xlink:to="loc_peixStockholdersEquityAbstract_90" xlink:type="arc" order="26" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_peixPreferredStockValue_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStockholdersEquityAbstract_90" xlink:to="loc_peixPreferredStockValue_90" xlink:type="arc" order="27" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_peixCommonStockValue_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStockholdersEquityAbstract_90" xlink:to="loc_peixCommonStockValue_90" xlink:type="arc" order="28" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="loc_peixAdditionalPaidInCapital_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStockholdersEquityAbstract_90" xlink:to="loc_peixAdditionalPaidInCapital_90" xlink:type="arc" order="29" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_peixRetainedEarningsAccumulatedDeficit_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStockholdersEquityAbstract_90" xlink:to="loc_peixRetainedEarningsAccumulatedDeficit_90" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_peixStockholdersEquity_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStockholdersEquityAbstract_90" xlink:to="loc_peixStockholdersEquity_90" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInJointVentures" xlink:label="loc_peixMinorityInterestInJointVentures_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStockholdersEquityAbstract_90" xlink:to="loc_peixMinorityInterestInJointVentures_90" xlink:type="arc" order="32" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStockholdersEquityAbstract_90" xlink:to="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_90" xlink:type="arc" order="33" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_peixLiabilitiesAndStockholdersEquity_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStockholdersEquityAbstract_90" xlink:to="loc_peixLiabilitiesAndStockholdersEquity_90" xlink:type="arc" order="34" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:title="0003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_peixStatementClassOfStockAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementClassOfStockAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_peixClassOfStockDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixStatementClassOfStockAxis" xlink:to="loc_peixClassOfStockDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_peixClassOfStockDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixStatementClassOfStockAxis" xlink:to="loc_peixClassOfStockDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesAPreferredStockMember" xlink:label="loc_peixSeriesAPreferredStockMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixClassOfStockDomain" xlink:to="loc_peixSeriesAPreferredStockMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesBPreferredStockMember" xlink:label="loc_peixSeriesBPreferredStockMember_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixClassOfStockDomain" xlink:to="loc_peixSeriesBPreferredStockMember_60" xlink:type="arc" order="61" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesPayableRelatedPartiesClassifiedCurrent" xlink:label="loc_peixNotesPayableRelatedPartiesClassifiedCurrent_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixNotesPayableRelatedPartiesClassifiedCurrent_100" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="loc_peixPreferredStockParOrStatedValuePerShare_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockParOrStatedValuePerShare_100" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="loc_peixPreferredStockSharesAuthorized_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockSharesAuthorized_100" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="loc_peixPreferredStockSharesIssued_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockSharesIssued_100" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="loc_peixPreferredStockSharesOutstanding_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockSharesOutstanding_100" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockLiquidationPreferenceValue" xlink:label="loc_peixPreferredStockLiquidationPreferenceValue_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockLiquidationPreferenceValue_100" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_peixCommonStockParOrStatedValuePerShare_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixCommonStockParOrStatedValuePerShare_100" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_peixCommonStockSharesAuthorized_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixCommonStockSharesAuthorized_100" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_peixCommonStockSharesIssued_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixCommonStockSharesIssued_100" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_peixCommonStockSharesOutstanding_100" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixCommonStockSharesOutstanding_100" xlink:type="arc" order="9" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedStatementsOfOperations" xlink:title="0004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedStatementsOfCashFlows" xlink:title="0005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:title="0006 - Statement - CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_peixStatementEquityComponentsAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementEquityComponentsAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_peixEquityComponentDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixStatementEquityComponentsAxis" xlink:to="loc_peixEquityComponentDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_peixEquityComponentDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixStatementEquityComponentsAxis" xlink:to="loc_peixEquityComponentDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="loc_peixPreferredStockMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixEquityComponentDomain" xlink:to="loc_peixPreferredStockMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_peixCommonStockMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixEquityComponentDomain" xlink:to="loc_peixCommonStockMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_peixAdditionalPaidInCapitalMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixEquityComponentDomain" xlink:to="loc_peixAdditionalPaidInCapitalMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_peixRetainedEarningsMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixEquityComponentDomain" xlink:to="loc_peixRetainedEarningsMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_peixNoncontrollingInterestMember_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixEquityComponentDomain" xlink:to="loc_peixNoncontrollingInterestMember_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_70" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharesIssued" xlink:label="loc_peixSharesIssued_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSharesIssued_70" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DeconsolidationOfFrontRange" xlink:label="loc_peixDeconsolidationOfFrontRange_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixDeconsolidationOfFrontRange_70" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConsolidationOfNewPEHoldco" xlink:label="loc_peixConsolidationOfNewPEHoldco_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixConsolidationOfNewPEHoldco_70" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="loc_peixStockIssuedDuringPeriodValueShareBasedCompensation_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodValueShareBasedCompensation_70" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:label="loc_peixStockIssuedDuringPeriodSharesShareBasedCompensation_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodSharesShareBasedCompensation_70" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConversionOfPreferredStockToCommonStock" xlink:label="loc_peixConversionOfPreferredStockToCommonStock_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixConversionOfPreferredStockToCommonStock_70" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConversionOfPreferredStockToCommonStockShares" xlink:label="loc_peixConversionOfPreferredStockToCommonStockShares_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixConversionOfPreferredStockToCommonStockShares_70" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:label="loc_peixStockIssuedDuringPeriodValueConversionOfConvertibleSecurities_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodValueConversionOfConvertibleSecurities_70" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:label="loc_peixStockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_70" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="loc_peixStockIssuedDuringPeriodValueNewIssues_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodValueNewIssues_70" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="loc_peixStockIssuedDuringPeriodSharesNewIssues_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodSharesNewIssues_70" xlink:type="arc" order="13" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_StockIssuedWarrantExercises" xlink:label="loc_peixStockIssuedWarrantExercises_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedWarrantExercises_70" xlink:type="arc" order="14" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SharesIssuedWarrantExercisesShares" xlink:label="loc_peixSharesIssuedWarrantExercisesShares_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSharesIssuedWarrantExercisesShares_70" xlink:type="arc" order="15" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:label="loc_peixStockIssuedDuringPeriodValueAcquisitions_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodValueAcquisitions_70" xlink:type="arc" order="16" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SharesIssuedInDebtExtinguishments" xlink:label="loc_peixSharesIssuedInDebtExtinguishments_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSharesIssuedInDebtExtinguishments_70" xlink:type="arc" order="17" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesOther" xlink:label="loc_peixStockIssuedDuringPeriodSharesOther_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodSharesOther_70" xlink:type="arc" order="18" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPreferredStockStock" xlink:label="loc_peixDividendsPreferredStockStock_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixDividendsPreferredStockStock_70" xlink:type="arc" order="19" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_peixProfitLoss_70" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixProfitLoss_70" xlink:type="arc" order="20" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/OrganizationAndBasisOfPresentation" xlink:title="0007 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntity" xlink:title="0008 - Disclosure - 2. VARIABLE INTEREST ENTITY" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Inventories" xlink:title="0009 - Disclosure - 3. INVENTORIES" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Derivatives" xlink:title="0010 - Disclosure - 4. DERIVATIVES" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Debt" xlink:title="0011 - Disclosure - 5. DEBT" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Warrants" xlink:title="0012 - Disclosure - 6. COMMON STOCK AND WARRANTS" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingencies" xlink:title="0013 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurements" xlink:title="0014 - Disclosure - 8. FAIR VALUE MEASUREMENTS" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShare" xlink:title="0015 - Disclosure - 9. EARNINGS PER SHARE" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/RelatedPartyTransactions" xlink:title="0016 - Disclosure - 10. RELATED PARTY TRANSACTIONS" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/SubsequentEvent" xlink:title="0017 - Disclosure - 11. SUBSEQUENT EVENT" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/PropertyAndEquipmentDec2011Only" xlink:title="0018 - Disclosure - 3. PROPERTY AND EQUIPMENT (Dec 2011 only)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/IntangibleAssetsDec2011Only" xlink:title="0019 - Disclosure - 4. INTANGIBLE ASSETS (Dec 2011 only)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/AccountingForEmergenceFromBankruptcyDec2011Only" xlink:title="0020 - Disclosure - 7. ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY (Dec 2011 only)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/IncomeTaxesDec2011Only" xlink:title="0021 - Disclosure - 8. INCOME TAXES (Dec 2011 only)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/PreferredStockDec2011Only" xlink:title="0022 - Disclosure - 9. PREFERRED STOCK (Dec 2011 only)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Stock-BasedCompensationDec2011Only" xlink:title="0023 - Disclosure - 11. STOCK-BASED COMPENSATION (Dec 2011 only)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" xlink:title="0024 - Disclosure - 15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/OrganizationAndBasisOfPresentationPolicies" xlink:title="0025 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Policies)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntityTables" xlink:title="0026 - Disclosure - 2. VARIABLE INTEREST ENTITY (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/InventoriesTables" xlink:title="0027 - Disclosure - 3. INVENTORIES (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DerivativesTables" xlink:title="0028 - Disclosure - 4. DERIVATIVES (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DebtTables" xlink:title="0029 - Disclosure - 5. DEBT (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingenciesTables" xlink:title="0030 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsTables" xlink:title="0031 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShareTables" xlink:title="0032 - Disclosure - 9. EARNINGS PER SHARE (Tables)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/OrganizationAndBasisOfPresentationDetailsNarrative" xlink:title="0033 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntityDetails" xlink:title="0034 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="loc_peixVariableInterestEntityLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="loc_peixScheduleOfVariableInterestEntitiesTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixVariableInterestEntityLineItems" xlink:to="loc_peixScheduleOfVariableInterestEntitiesTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:label="loc_peixVariableInterestEntitiesByClassificationOfEntityAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixScheduleOfVariableInterestEntitiesTable" xlink:to="loc_peixVariableInterestEntitiesByClassificationOfEntityAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="loc_peixClassificationOfVariableInterestEntityDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixVariableInterestEntitiesByClassificationOfEntityAxis" xlink:to="loc_peixClassificationOfVariableInterestEntityDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="loc_peixClassificationOfVariableInterestEntityDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixVariableInterestEntitiesByClassificationOfEntityAxis" xlink:to="loc_peixClassificationOfVariableInterestEntityDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VIEBalanceSheetMember" xlink:label="loc_peixVIEBalanceSheetMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixClassificationOfVariableInterestEntityDomain" xlink:to="loc_peixVIEBalanceSheetMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:label="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityLineItems" xlink:to="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CashAndCashEquivalentsVIE" xlink:label="loc_peixCashAndCashEquivalentsVIE_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:to="loc_peixCashAndCashEquivalentsVIE_30" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OtherCurrentAssetsVIE" xlink:label="loc_peixOtherCurrentAssetsVIE_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:to="loc_peixOtherCurrentAssetsVIE_30" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PropertyAndEquipmentVIE" xlink:label="loc_peixPropertyAndEquipmentVIE_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:to="loc_peixPropertyAndEquipmentVIE_30" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OtherAssetsVIE" xlink:label="loc_peixOtherAssetsVIE_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:to="loc_peixOtherAssetsVIE_30" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_TotalAssetsVIE" xlink:label="loc_peixTotalAssetsVIE_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:to="loc_peixTotalAssetsVIE_30" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CurrentLiabilitiesVIE" xlink:label="loc_peixCurrentLiabilitiesVIE_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:to="loc_peixCurrentLiabilitiesVIE_30" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_LongAndShortTermDebt" xlink:label="loc_peixLongAndShortTermDebt_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:to="loc_peixLongAndShortTermDebt_30" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OtherLiabilitiesVIE" xlink:label="loc_peixOtherLiabilitiesVIE_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:to="loc_peixOtherLiabilitiesVIE_30" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_TotalLiabilitiesVIE" xlink:label="loc_peixTotalLiabilitiesVIE_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_30" xlink:to="loc_peixTotalLiabilitiesVIE_30" xlink:type="arc" order="9" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntityDetailsNarrative" xlink:title="0035 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details Narrative)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/InventoriesDetails" xlink:title="0036 - Disclosure - 3. INVENTORIES (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DerivativesDetails" xlink:title="0037 - Disclosure - 4. DERIVATIVES (Details)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:label="loc_peixDerivativeInstrumentsGainLossLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:label="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixDerivativeInstrumentsGainLossLineItems" xlink:to="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="loc_peixDerivativeInstrumentRiskAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="loc_peixDerivativeInstrumentRiskAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="loc_peixDerivativeContractTypeDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixDerivativeInstrumentRiskAxis" xlink:to="loc_peixDerivativeContractTypeDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="loc_peixDerivativeContractTypeDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixDerivativeInstrumentRiskAxis" xlink:to="loc_peixDerivativeContractTypeDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommodityContractMember" xlink:label="loc_peixCommodityContractMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixDerivativeContractTypeDomain" xlink:to="loc_peixCommodityContractMember_0" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_HedgingDesignationAxis" xlink:label="loc_peixHedgingDesignationAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="loc_peixHedgingDesignationAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_HedgingDesignationDomain" xlink:label="loc_peixHedgingDesignationDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixHedgingDesignationAxis" xlink:to="loc_peixHedgingDesignationDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_HedgingDesignationDomain" xlink:label="loc_peixHedgingDesignationDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixHedgingDesignationAxis" xlink:to="loc_peixHedgingDesignationDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NondesignatedMember" xlink:label="loc_peixNondesignatedMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixHedgingDesignationDomain" xlink:to="loc_peixNondesignatedMember_0" xlink:type="arc" order="301" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_peixIncomeStatementLocationAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="loc_peixIncomeStatementLocationAxis" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_peixIncomeStatementLocationDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixIncomeStatementLocationAxis" xlink:to="loc_peixIncomeStatementLocationDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_peixIncomeStatementLocationDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixIncomeStatementLocationAxis" xlink:to="loc_peixIncomeStatementLocationDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfSalesMember" xlink:label="loc_peixCostOfSalesMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixIncomeStatementLocationDomain" xlink:to="loc_peixCostOfSalesMember_0" xlink:type="arc" order="603" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract" xlink:label="loc_peixOtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixDerivativeInstrumentsGainLossLineItems" xlink:to="loc_peixOtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract_30" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet" xlink:label="loc_peixDerivativeInstrumentsGainLossRecognizedInIncomeNet_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixOtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract_30" xlink:to="loc_peixDerivativeInstrumentsGainLossRecognizedInIncomeNet_30" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="loc_peixUnrealizedGainLossOnDerivatives_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixOtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract_30" xlink:to="loc_peixUnrealizedGainLossOnDerivatives_30" xlink:type="arc" order="2" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DerivativesDetailsNarrative" xlink:title="0038 - Disclosure - 4. DERIVATIVES (Details Narrative)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DebtDetails" xlink:title="0039 - Disclosure - 5. DEBT (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DebtDetailsNarrative" xlink:title="0040 - Disclosure - 5. DEBT (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_peixDebtInstrumentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixStatementTable" xlink:to="loc_peixDebtInstrumentAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_peixDebtInstrumentNameDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixDebtInstrumentAxis" xlink:to="loc_peixDebtInstrumentNameDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_peixDebtInstrumentNameDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixDebtInstrumentAxis" xlink:to="loc_peixDebtInstrumentNameDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_KinergyMember" xlink:label="loc_peixKinergyMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixDebtInstrumentNameDomain" xlink:to="loc_peixKinergyMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PlantOwnersMember" xlink:label="loc_peixPlantOwnersMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixDebtInstrumentNameDomain" xlink:to="loc_peixPlantOwnersMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_RecordedInterestNotesPayableRelatedParty" xlink:label="loc_peixRecordedInterestNotesPayableRelatedParty_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixRecordedInterestNotesPayableRelatedParty_60" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:label="loc_peixLineOfCreditFacilityRemainingBorrowingCapacity_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixLineOfCreditFacilityRemainingBorrowingCapacity_60" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" xlink:label="loc_peixLineOfCreditFacilityIncreaseAdditionalBorrowings_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixLineOfCreditFacilityIncreaseAdditionalBorrowings_60" xlink:type="arc" order="4" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/WarrantsDetailsNarrative" xlink:title="0041 - Disclosure - 6. COMMON STOCK AND WARRANTS (Details Narrative)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingenciesDetails" xlink:title="0042 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentByCategoryOfItemAxis" xlink:label="loc_peixSalesCommitmentByCategoryOfItemAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixStatementTable" xlink:to="loc_peixSalesCommitmentByCategoryOfItemAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_peixScenarioUnspecifiedDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixSalesCommitmentByCategoryOfItemAxis" xlink:to="loc_peixScenarioUnspecifiedDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_peixScenarioUnspecifiedDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixSalesCommitmentByCategoryOfItemAxis" xlink:to="loc_peixScenarioUnspecifiedDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EthanolMember" xlink:label="loc_peixEthanolMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixScenarioUnspecifiedDomain" xlink:to="loc_peixEthanolMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WetDistillersGrainMember" xlink:label="loc_peixWetDistillersGrainMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixScenarioUnspecifiedDomain" xlink:to="loc_peixWetDistillersGrainMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentsAbstract" xlink:label="loc_peixSalesCommitmentsAbstract_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSalesCommitmentsAbstract_40" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" xlink:label="loc_peixSalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts_40" xlink:type="arc" order="1" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingenciesDetailsNarrative" xlink:title="0043 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentByCategoryOfItemAxis" xlink:label="loc_peixSalesCommitmentByCategoryOfItemAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixStatementTable" xlink:to="loc_peixSalesCommitmentByCategoryOfItemAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_peixScenarioUnspecifiedDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixSalesCommitmentByCategoryOfItemAxis" xlink:to="loc_peixScenarioUnspecifiedDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_peixScenarioUnspecifiedDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixSalesCommitmentByCategoryOfItemAxis" xlink:to="loc_peixScenarioUnspecifiedDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EthanolMember" xlink:label="loc_peixEthanolMember_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixScenarioUnspecifiedDomain" xlink:to="loc_peixEthanolMember_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PurchaseCommitmentsAbstract" xlink:label="loc_peixPurchaseCommitmentsAbstract_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPurchaseCommitmentsAbstract_20" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted" xlink:label="loc_peixSignificantPurchaseCommitmentRemainingMinimumAmountCommitted_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSignificantPurchaseCommitmentRemainingMinimumAmountCommitted_20" xlink:type="arc" order="1" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsDetails" xlink:title="0044 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="loc_peixFinancialInstrumentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixStatementTable" xlink:to="loc_peixFinancialInstrumentAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixFinancialInstrumentAxis" xlink:to="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixFinancialInstrumentAxis" xlink:to="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantsIssuedOctober2010Member" xlink:label="loc_peixWarrantsIssuedOctober2010Member_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrantsIssuedOctober2010Member_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantsIssuedDecember2011Member" xlink:label="loc_peixWarrantsIssuedDecember2011Member_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrantsIssuedDecember2011Member_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_Warrants1IssuedJuly2012Member" xlink:label="loc_peixWarrants1IssuedJuly2012Member_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrants1IssuedJuly2012Member_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_Warrants2IssuedJuly2012Member" xlink:label="loc_peixWarrants2IssuedJuly2012Member_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrants2IssuedJuly2012Member_60" xlink:type="arc" order="61" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantsIssuedSeptember2012Member" xlink:label="loc_peixWarrantsIssuedSeptember2012Member_80" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrantsIssuedSeptember2012Member_80" xlink:type="arc" order="81" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:label="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_170" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsExercisePrice" xlink:label="loc_peixFairValueAssumptionsExercisePrice_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_170" xlink:to="loc_peixFairValueAssumptionsExercisePrice_170" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsExpectedVolatilityRate" xlink:label="loc_peixFairValueAssumptionsExpectedVolatilityRate_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_170" xlink:to="loc_peixFairValueAssumptionsExpectedVolatilityRate_170" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsRiskFreeInterestRate" xlink:label="loc_peixFairValueAssumptionsRiskFreeInterestRate_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_170" xlink:to="loc_peixFairValueAssumptionsRiskFreeInterestRate_170" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsExpectedTerm" xlink:label="loc_peixFairValueAssumptionsExpectedTerm_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_170" xlink:to="loc_peixFairValueAssumptionsExpectedTerm_170" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueAssumptionsMarketabilityDiscount" xlink:label="loc_peixFairValueAssumptionsMarketabilityDiscount_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_170" xlink:to="loc_peixFairValueAssumptionsMarketabilityDiscount_170" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantLiabilities" xlink:label="loc_peixWarrantLiabilities_170" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_170" xlink:to="loc_peixWarrantLiabilities_170" xlink:type="arc" order="6" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsDetails2" xlink:title="0045 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 1)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:label="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_peixFairValueByFairValueHierarchyLevelAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="loc_peixFairValueByFairValueHierarchyLevelAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_peixFairValueMeasurementsFairValueHierarchyDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_peixFairValueMeasurementsFairValueHierarchyDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_peixFairValueMeasurementsFairValueHierarchyDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_peixFairValueInputsLevel3Member_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_peixFairValueInputsLevel3Member_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_90" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_90" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" xlink:label="loc_peixFairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue_90" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:label="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_90" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_JulyOffering" xlink:label="loc_peixJulyOffering_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixJulyOffering_90" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SeptemberOffering" xlink:label="loc_peixSeptemberOffering_90" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixSeptemberOffering_90" xlink:type="arc" order="8" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsDetails1" xlink:title="0046 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 2)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_peixFairValueByFairValueHierarchyLevelAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="loc_peixFairValueByFairValueHierarchyLevelAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_peixFairValueMeasurementsFairValueHierarchyDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_peixFairValueMeasurementsFairValueHierarchyDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_peixFairValueMeasurementsFairValueHierarchyDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_peixFairValueInputsLevel3Member_0" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_peixFairValueInputsLevel3Member_0" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_peixFairValueInputsLevel1Member_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_peixFairValueInputsLevel1Member_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_peixFairValueInputsLevel2Member_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_peixFairValueInputsLevel2Member_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="loc_peixFinancialInstrumentAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="loc_peixFinancialInstrumentAxis" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_peixFinancialInstrumentAxis" xlink:to="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_peixFinancialInstrumentAxis" xlink:to="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommodityContractsMember" xlink:label="loc_peixCommodityContractsMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixCommodityContractsMember_20" xlink:type="arc" order="321" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WarrantMember" xlink:label="loc_peixWarrantMember_60" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrantMember_60" xlink:type="arc" order="362" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" xlink:label="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract_250" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="loc_peixLiabilitiesFairValueDisclosureAbstract_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract_250" xlink:to="loc_peixLiabilitiesFairValueDisclosureAbstract_250" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="loc_peixLiabilitiesFairValueDisclosure_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixLiabilitiesFairValueDisclosureAbstract_250" xlink:to="loc_peixLiabilitiesFairValueDisclosure_250" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="loc_peixAssetsFairValueDisclosureAbstract_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract_250" xlink:to="loc_peixAssetsFairValueDisclosureAbstract_250" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="loc_peixAssetsFairValueDisclosure_250" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_peixAssetsFairValueDisclosureAbstract_250" xlink:to="loc_peixAssetsFairValueDisclosure_250" xlink:type="arc" order="4" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShareDetails" xlink:title="0047 - Disclosure - 9. EARNINGS PER SHARE (Details)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShareDetailsNarrative" xlink:title="0048 - Disclosure - 9. EARNINGS PER SHARE (Details Narrative)" />
    <link:definitionLink xlink:type="extended" xlink:role="http://compsciresources.com/role/RelatedPartyTransactionsDetailsNarrative" xlink:title="0049 - Disclosure - 10. RELATED PARTY TRANSACTIONS (Details Narrative)" />
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>17
<FILENAME>peix-20120930_lab.xml
<DESCRIPTION>XBRL LABEL FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 3.4b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Source; Value: paceth_s1%2D2013%2D3.xfr; Date: 2013/02/08T21:01:51 -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x800D0000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="us-gaap_FairValueInputsLevel1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US">Level 1 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xml:lang="en-US">Fair Value By Fair Value Hierarchy Level [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WarrantMember" xlink:label="us-gaap_WarrantMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantMember" xlink:to="us-gaap_WarrantMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WarrantMember_lbl" xml:lang="en-US">Warrants [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="us-gaap_FinancialInstrumentAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentAxis" xlink:to="us-gaap_FinancialInstrumentAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentAxis_lbl" xml:lang="en-US">Financial Instrument [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="us-gaap_FairValueInputsLevel2Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US">Level 2 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="us-gaap_FairValueInputsLevel3Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xml:lang="en-US">Level 3 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommodityContractsMember" xlink:label="peix_CommodityContractsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CommodityContractsMember" xlink:to="peix_CommodityContractsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_CommodityContractsMember_lbl" xml:lang="en-US">Commodity Contracts [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesAPreferredStockMember" xlink:label="us-gaap_SeriesAPreferredStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeriesAPreferredStockMember" xlink:to="us-gaap_SeriesAPreferredStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SeriesAPreferredStockMember_lbl" xml:lang="en-US">SeriesAPreferredStockMember</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US">StatementClassOfStock [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesBPreferredStockMember" xlink:label="us-gaap_SeriesBPreferredStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeriesBPreferredStockMember" xlink:to="us-gaap_SeriesBPreferredStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SeriesBPreferredStockMember_lbl" xml:lang="en-US">SeriesBPreferredStockMember</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NondesignatedMember" xlink:label="us-gaap_NondesignatedMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NondesignatedMember" xlink:to="us-gaap_NondesignatedMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NondesignatedMember_lbl" xml:lang="en-US">Non Designated Derivative Instruments [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_HedgingDesignationAxis" xlink:label="us-gaap_HedgingDesignationAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HedgingDesignationAxis" xlink:to="us-gaap_HedgingDesignationAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HedgingDesignationAxis_lbl" xml:lang="en-US">Hedging Designation [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommodityContractMember" xlink:label="us-gaap_CommodityContractMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommodityContractMember" xlink:to="us-gaap_CommodityContractMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommodityContractMember_lbl" xml:lang="en-US">Commodity contracts [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="us-gaap_DerivativeInstrumentRiskAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentRiskAxis" xlink:to="us-gaap_DerivativeInstrumentRiskAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xml:lang="en-US">Derivative Instrument Risk [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfSalesMember" xlink:label="us-gaap_CostOfSalesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfSalesMember" xlink:to="us-gaap_CostOfSalesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfSalesMember_lbl" xml:lang="en-US">Cost of goods sold [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="us-gaap_IncomeStatementLocationAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationAxis" xlink:to="us-gaap_IncomeStatementLocationAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementLocationAxis_lbl" xml:lang="en-US">Income Statement Location [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EthanolMember" xlink:label="peix_EthanolMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_EthanolMember" xlink:to="peix_EthanolMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_EthanolMember_lbl" xml:lang="en-US">EthanolMember</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentByCategoryOfItemAxis" xlink:label="peix_SalesCommitmentByCategoryOfItemAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SalesCommitmentByCategoryOfItemAxis" xlink:to="peix_SalesCommitmentByCategoryOfItemAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_SalesCommitmentByCategoryOfItemAxis_lbl" xml:lang="en-US">SalesCommitmentByCategoryOfItem [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WetDistillersGrainMember" xlink:label="peix_WetDistillersGrainMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WetDistillersGrainMember" xlink:to="peix_WetDistillersGrainMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_WetDistillersGrainMember_lbl" xml:lang="en-US">WetDistillersGrainMember</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantsIssuedOctober2010Member" xlink:label="peix_WarrantsIssuedOctober2010Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WarrantsIssuedOctober2010Member" xlink:to="peix_WarrantsIssuedOctober2010Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_WarrantsIssuedOctober2010Member_lbl" xml:lang="en-US">Warrants issued in October 2010 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantsIssuedDecember2011Member" xlink:label="peix_WarrantsIssuedDecember2011Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WarrantsIssuedDecember2011Member" xlink:to="peix_WarrantsIssuedDecember2011Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_WarrantsIssuedDecember2011Member_lbl" xml:lang="en-US">Warrants issued in December 2011 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VIEBalanceSheetMember" xlink:label="peix_VIEBalanceSheetMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_VIEBalanceSheetMember" xlink:to="peix_VIEBalanceSheetMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_VIEBalanceSheetMember_lbl" xml:lang="en-US">VIEBalanceSheetMember</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:label="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:to="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_lbl" xml:lang="en-US">Variable Interest Entities By Classification Of Entity [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_KinergyMember" xlink:label="peix_KinergyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_KinergyMember" xlink:to="peix_KinergyMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_KinergyMember_lbl" xml:lang="en-US">Kinergy</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="us-gaap_DebtInstrumentAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xml:lang="en-US">Debt Instrument [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PlantOwnersMember" xlink:label="peix_PlantOwnersMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PlantOwnersMember" xlink:to="peix_PlantOwnersMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_PlantOwnersMember_lbl" xml:lang="en-US">Plant Owners</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_Warrants1IssuedJuly2012Member" xlink:label="peix_Warrants1IssuedJuly2012Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_Warrants1IssuedJuly2012Member" xlink:to="peix_Warrants1IssuedJuly2012Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_Warrants1IssuedJuly2012Member_lbl" xml:lang="en-US">Warrants 1 Issued July 2012 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_Warrants2IssuedJuly2012Member" xlink:label="peix_Warrants2IssuedJuly2012Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_Warrants2IssuedJuly2012Member" xlink:to="peix_Warrants2IssuedJuly2012Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_Warrants2IssuedJuly2012Member_lbl" xml:lang="en-US">Warrants 2 Issued July 2012 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantsIssuedSeptember2012Member" xlink:label="peix_WarrantsIssuedSeptember2012Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WarrantsIssuedSeptember2012Member" xlink:to="peix_WarrantsIssuedSeptember2012Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_WarrantsIssuedSeptember2012Member_lbl" xml:lang="en-US">Warrants Issued September 2012 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="us-gaap_PreferredStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US">Preferred Stock</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Equity Components [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Additional Paid-In Capital</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="us-gaap_RetainedEarningsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US">Retained Earnings / Accumulated Deficit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="us-gaap_NoncontrollingInterestMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestMember" xlink:to="us-gaap_NoncontrollingInterestMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncontrollingInterestMember_lbl" xml:lang="en-US">Noncontrolling Interest</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DocumentAndEntityInformationAbstract" xlink:label="peix_DocumentAndEntityInformationAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_DocumentAndEntityInformationAbstract" xlink:to="peix_DocumentAndEntityInformationAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US">Document And Entity Information</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Is Entity a Well-known Seasoned Issuer?</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Is Entity a Voluntary Filer?</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Is Entity's Reporting Status Current?</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StatementClassOfStockAxis_2_lbl" xml:lang="en-US">Class of Stock [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US">Current Assets:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US">Accounts receivable, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US">Inventories</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherInventory" xlink:label="us-gaap_OtherInventory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherInventory" xlink:to="us-gaap_OtherInventory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherInventory_lbl" xml:lang="en-US">Prepaid inventory</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="us-gaap_OtherAssetsCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsCurrent" xlink:to="us-gaap_OtherAssetsCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsCurrent_lbl" xml:lang="en-US">Other current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Total current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property and equipment, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsAbstract" xlink:label="us-gaap_OtherAssetsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsAbstract" xlink:to="us-gaap_OtherAssetsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsAbstract_lbl" xml:lang="en-US">Other Assets:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Intangible assets, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="us-gaap_OtherAssetsNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US">Other assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssets" xlink:label="us-gaap_OtherAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssets" xlink:to="us-gaap_OtherAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherAssets_lbl" xml:lang="en-US">Total other assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Total Assets**</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Current Liabilities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US">Accounts payable - trade</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accrued liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableCurrent" xlink:label="us-gaap_DividendsPayableCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableCurrent" xlink:to="us-gaap_DividendsPayableCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsPayableCurrent_lbl" xml:lang="en-US">Accrued preferred dividends</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="us-gaap_LongTermDebtCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtCurrent" xlink:to="us-gaap_LongTermDebtCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtCurrent_lbl" xml:lang="en-US">Current portion - long-term debt (including $750 to related party)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">Total current liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="us-gaap_LongTermDebtNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtNoncurrent" xlink:to="us-gaap_LongTermDebtNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtNoncurrent_lbl" xml:lang="en-US">Long-term debt, net of current portion</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAccruedLiabilitiesNoncurrent" xlink:label="us-gaap_OtherAccruedLiabilitiesNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesNoncurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherAccruedLiabilitiesNoncurrent_lbl" xml:lang="en-US">Accrued preferred dividends</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantLiabilities" xlink:label="peix_WarrantLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WarrantLiabilities" xlink:to="peix_WarrantLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_WarrantLiabilities_lbl" xml:lang="en-US">Warrant liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="us-gaap_OtherLiabilitiesNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesNoncurrent" xlink:to="us-gaap_OtherLiabilitiesNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilitiesNoncurrent_lbl" xml:lang="en-US">Other liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total Liabilities**</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments and Contingencies (Notes 4, 5 and 7)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">Stockholders' Equity:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Pacific Ethanol, Inc. Stockholders' Equity:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred stock, $0.001 par value; 10,000,000 shares authorized; Series A: 1,684,375 shares authorized; 0 shares issued and outstanding as of September 30, 2012 and December 31, 2011; Series B: 1,580,790 shares authorized; 926,942 shares issued and outstanding as of September 30, 2012 and December 31, 2011; liquidation preference of $24,659 as of September 30, 2012</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, $0.001 par value; 300,000,000 shares authorized; 144,710,897 and 86,631,664 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional paid-in capital</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Accumulated deficit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total Pacific Ethanol, Inc. Stockholders' Equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInJointVentures" xlink:label="us-gaap_MinorityInterestInJointVentures" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestInJointVentures" xlink:to="us-gaap_MinorityInterestInJointVentures_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestInJointVentures_lbl" xml:lang="en-US">Noncontrolling interest in variable interest entity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Total Stockholders' Equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total Liabilities and Stockholders' Equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesPayableRelatedPartiesClassifiedCurrent" xlink:label="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent" xlink:to="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesPayableRelatedPartiesClassifiedCurrent_lbl" xml:lang="en-US">Current portion of long term debt to related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Preferred stock par value (in Dollars per share)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US">Preferred stock shares authorized</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US">Preferred stock shares issued</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">Preferred stock Series outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockLiquidationPreferenceValue" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockLiquidationPreferenceValue" xlink:to="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockLiquidationPreferenceValue_lbl" xml:lang="en-US">Preferred stock Series B liquidation preference (in Dollars)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock, par value</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common stock, authorized</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock, issued</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Income Statement [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SalesRevenueNet" xlink:label="us-gaap_SalesRevenueNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNet" xlink:to="us-gaap_SalesRevenueNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesRevenueNet_lbl" xml:lang="en-US">Net sales</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfGoodsSold" xlink:label="us-gaap_CostOfGoodsSold" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfGoodsSold" xlink:to="us-gaap_CostOfGoodsSold_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfGoodsSold_lbl" xml:lang="en-US">Cost of goods sold</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GrossProfit" xlink:label="us-gaap_GrossProfit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GrossProfit" xlink:to="us-gaap_GrossProfit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_GrossProfit_lbl" xml:lang="en-US">Gross profit (loss)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpense" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling, general and administrative expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">Income (loss) from operations</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:label="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:to="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants_lbl" xml:lang="en-US">Fair value adjustments on convertible debt and warrants</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="us-gaap_GainLossOnInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnInvestments" xlink:to="us-gaap_GainLossOnInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnInvestments_lbl" xml:lang="en-US">Loss on investment in Front Range</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US">Loss on extinguishment of debt</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest expense, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherGeneralExpense" xlink:label="us-gaap_OtherGeneralExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherGeneralExpense" xlink:to="us-gaap_OtherGeneralExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherGeneralExpense_lbl" xml:lang="en-US">Other income (expense), net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xml:lang="en-US">Loss before provision for income taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReorganizationItems" xlink:label="us-gaap_ReorganizationItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReorganizationItems" xlink:to="us-gaap_ReorganizationItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ReorganizationItems_lbl" xml:lang="en-US">Reorganization costs</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:label="us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:to="us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities_lbl" xml:lang="en-US">Gain from bankruptcy exit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Provision for income taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfitLoss" xlink:to="us-gaap_ProfitLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US">Consolidated net income (loss)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" xlink:label="us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" xlink:to="us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_lbl" xml:lang="en-US">Net loss attributed to noncontrolling interest in variable interest entity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net income (loss) attributed to Pacific Ethanol, Inc.</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPreferredStock" xlink:label="us-gaap_DividendsPreferredStock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPreferredStock" xlink:to="us-gaap_DividendsPreferredStock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DividendsPreferredStock_lbl" xml:lang="en-US">Preferred stock dividends</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US">Income (loss) available to common stockholders</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xml:lang="en-US">Net income (loss) per share, basic and diluted</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Weighted-average shares outstanding, basic</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Weighted-average shares outstanding, diluted</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Operating Activities:</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfitLoss" xlink:to="us-gaap_ProfitLoss_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfitLoss_2_lbl" xml:lang="en-US">Consolidated net loss</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:label="peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile consolidated net loss to cash used in operating activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="us-gaap_AmortizationOfIntangibleAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfIntangibleAssets" xlink:to="us-gaap_AmortizationOfIntangibleAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US">Depreciation and amortization of intangibles</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:to="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants_2_lbl" xml:lang="en-US">Fair value adjustments on convertible debt and warrants</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryWriteDown" xlink:label="us-gaap_InventoryWriteDown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryWriteDown" xlink:to="us-gaap_InventoryWriteDown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryWriteDown_lbl" xml:lang="en-US">Inventory valuation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnDerivatives" xlink:to="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xml:lang="en-US">Gain on derivative instruments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:to="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xml:lang="en-US">Amortization of deferred financing fees</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherNoncashExpense" xlink:label="us-gaap_OtherNoncashExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncashExpense" xlink:to="us-gaap_OtherNoncashExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNoncashExpense_lbl" xml:lang="en-US">Noncash compensation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities" xlink:label="us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities" xlink:to="us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities_lbl" xml:lang="en-US">Derivative instruments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" xlink:label="us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" xlink:to="us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts_lbl" xml:lang="en-US">Bad debt recovery</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_InterestOnConvertibleDebtPaidWithStock" xlink:label="peix_InterestOnConvertibleDebtPaidWithStock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_InterestOnConvertibleDebtPaidWithStock" xlink:to="peix_InterestOnConvertibleDebtPaidWithStock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_InterestOnConvertibleDebtPaidWithStock_lbl" xml:lang="en-US">Interest on convertible debt paid with stock</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:to="us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities_2_lbl" xml:lang="en-US">Gain on bankruptcy exit</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnInvestments" xlink:to="us-gaap_GainLossOnInvestments_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GainLossOnInvestments_2_lbl" xml:lang="en-US">Loss on investment in Front Range, held for sale</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_2_lbl" xml:lang="en-US">Loss on extinguishment of debt</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireInvestments" xlink:label="us-gaap_PaymentsToAcquireInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireInvestments" xlink:to="us-gaap_PaymentsToAcquireInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireInvestments_lbl" xml:lang="en-US">Bargain purchase of New PE Holdco</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Equity earnings on Front Range</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:label="peix_ChangesInOperatingAssetsAndLiabilitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="peix_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Changes in operating assets and liabilities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US">Accounts receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl" xml:lang="en-US">Inventories</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US">Prepaid expenses and other assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:label="us-gaap_IncreaseDecreaseInOtherCurrentAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherCurrentAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherCurrentAssets_lbl" xml:lang="en-US">Prepaid inventory</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Accounts payable and accrued expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash used in operating activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Investing Activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates" xlink:label="us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates" xlink:to="us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_lbl" xml:lang="en-US">Purchase of ownership interest in New PEHC</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Additions to property and equipment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:to="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US">Investments in New PE Holdco, net of cash acquired</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments" xlink:label="us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments" xlink:to="us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments_lbl" xml:lang="en-US">Proceeds from sale of investment in Front Range</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashDivestedFromDeconsolidation" xlink:label="us-gaap_CashDivestedFromDeconsolidation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashDivestedFromDeconsolidation" xlink:to="us-gaap_CashDivestedFromDeconsolidation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashDivestedFromDeconsolidation_lbl" xml:lang="en-US">Net cash impact of deconsolidation of Front Range</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NetCashImpactOfBankruptcyExit" xlink:label="peix_NetCashImpactOfBankruptcyExit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NetCashImpactOfBankruptcyExit" xlink:to="peix_NetCashImpactOfBankruptcyExit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_NetCashImpactOfBankruptcyExit_lbl" xml:lang="en-US">Net cash impact of bankruptcy exit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Financing Activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:label="us-gaap_ProceedsFromIssuanceOrSaleOfEquity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:to="us-gaap_ProceedsFromIssuanceOrSaleOfEquity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOrSaleOfEquity_lbl" xml:lang="en-US">Net proceeds from sales of common stock and warrants</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromOtherDebt" xlink:label="us-gaap_ProceedsFromOtherDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromOtherDebt" xlink:to="us-gaap_ProceedsFromOtherDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromOtherDebt_lbl" xml:lang="en-US">Net proceeds from borrowings</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:to="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_lbl" xml:lang="en-US">Preferred stock dividends paid</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromConvertibleDebt" xlink:label="us-gaap_ProceedsFromConvertibleDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromConvertibleDebt" xlink:to="us-gaap_ProceedsFromConvertibleDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromConvertibleDebt_lbl" xml:lang="en-US">Proceeds from convertible notes and warrants</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="us-gaap_RepaymentsOfNotesPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfNotesPayable" xlink:to="us-gaap_RepaymentsOfNotesPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfNotesPayable_lbl" xml:lang="en-US">Principal payments on convertible notes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDebtIssuanceCosts" xlink:label="us-gaap_PaymentsOfDebtIssuanceCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDebtIssuanceCosts" xlink:to="us-gaap_PaymentsOfDebtIssuanceCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDebtIssuanceCosts_lbl" xml:lang="en-US">Payments for debt issuance costs</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfOtherDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfOtherDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromRepaymentsOfOtherDebt" xlink:to="us-gaap_ProceedsFromRepaymentsOfOtherDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromRepaymentsOfOtherDebt_lbl" xml:lang="en-US">Proceeds from borrowings under DIP Financing</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfRelatedPartyDebt" xlink:to="us-gaap_RepaymentsOfRelatedPartyDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt_lbl" xml:lang="en-US">Principal payments paid on related party borrowings</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash (used in) provided by financing activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net increase in cash and cash equivalents</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_2_lbl" xml:lang="en-US">Cash and cash equivalents at beginning of period</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_3_lbl" xml:lang="en-US">Cash and cash equivalents at end of period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental Information:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="us-gaap_InterestPaidNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidNet" xlink:to="us-gaap_InterestPaidNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaidNet_lbl" xml:lang="en-US">Interest paid</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_lbl" xml:lang="en-US">Noncash financing and investing activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueOther" xlink:label="us-gaap_StockIssuedDuringPeriodValueOther" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueOther" xlink:to="us-gaap_StockIssuedDuringPeriodValueOther_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueOther_lbl" xml:lang="en-US">Preferred stock dividends paid in common stock</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity" xlink:label="peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity" xlink:to="peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity_lbl" xml:lang="en-US">Notes issued for purchase of ownership interest in New PEHC</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="us-gaap_InterestCostsCapitalized" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestCostsCapitalized" xlink:to="us-gaap_InterestCostsCapitalized_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestCostsCapitalized_lbl" xml:lang="en-US">Accrued interest added to term loan</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PreferredStockDividendsAccrued" xlink:label="peix_PreferredStockDividendsAccrued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PreferredStockDividendsAccrued" xlink:to="peix_PreferredStockDividendsAccrued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_PreferredStockDividendsAccrued_lbl" xml:lang="en-US">Preferred stock dividends accrued</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations" xlink:to="us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations_lbl" xml:lang="en-US">Debt extinguished with issuance of common stock</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants" xlink:label="peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants" xlink:to="peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants_lbl" xml:lang="en-US">Reclass of warrant liabilitiy to equity upon cashless net exercise of warrants</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2_lbl" xml:lang="en-US">Balances</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharesIssued" xlink:label="us-gaap_SharesIssued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_SharesIssued_lbl" xml:lang="en-US">Balances (in Shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DeconsolidationOfFrontRange" xlink:label="peix_DeconsolidationOfFrontRange" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_DeconsolidationOfFrontRange" xlink:to="peix_DeconsolidationOfFrontRange_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_DeconsolidationOfFrontRange_lbl" xml:lang="en-US">Deconsolidation of Front Range</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConsolidationOfNewPEHoldco" xlink:label="peix_ConsolidationOfNewPEHoldco" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ConsolidationOfNewPEHoldco" xlink:to="peix_ConsolidationOfNewPEHoldco_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_ConsolidationOfNewPEHoldco_lbl" xml:lang="en-US">Consolidation of New PE Holdco</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:to="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_lbl" xml:lang="en-US">Stock-based compensation expense - restricted stock</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:to="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl" xml:lang="en-US">Stock-based compensation expense - restricted stock (in Shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConversionOfPreferredStockToCommonStock" xlink:label="peix_ConversionOfPreferredStockToCommonStock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ConversionOfPreferredStockToCommonStock" xlink:to="peix_ConversionOfPreferredStockToCommonStock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_ConversionOfPreferredStockToCommonStock_lbl" xml:lang="en-US">Conversion of preferred stock to common stock</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConversionOfPreferredStockToCommonStockShares" xlink:label="peix_ConversionOfPreferredStockToCommonStockShares" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ConversionOfPreferredStockToCommonStockShares" xlink:to="peix_ConversionOfPreferredStockToCommonStockShares_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_ConversionOfPreferredStockToCommonStockShares_lbl" xml:lang="en-US">Conversion of preferred stock to common stock (in Shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:label="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:to="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_lbl" xml:lang="en-US">Shares issued on Convertible Notes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:to="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_lbl" xml:lang="en-US">Shares issued on Convertible Notes (in Shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US">Shares issued in private placement</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US">Shares issued in private placement (in Shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_StockIssuedWarrantExercises" xlink:label="peix_StockIssuedWarrantExercises" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_StockIssuedWarrantExercises" xlink:to="peix_StockIssuedWarrantExercises_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_StockIssuedWarrantExercises_lbl" xml:lang="en-US">Warrant exercises</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SharesIssuedWarrantExercisesShares" xlink:label="peix_SharesIssuedWarrantExercisesShares" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SharesIssuedWarrantExercisesShares" xlink:to="peix_SharesIssuedWarrantExercisesShares_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_SharesIssuedWarrantExercisesShares_lbl" xml:lang="en-US">Warrant exercises (in Shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xml:lang="en-US">Purchase of interests in New PE Holdco</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SharesIssuedInDebtExtinguishments" xlink:label="peix_SharesIssuedInDebtExtinguishments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SharesIssuedInDebtExtinguishments" xlink:to="peix_SharesIssuedInDebtExtinguishments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_SharesIssuedInDebtExtinguishments_lbl" xml:lang="en-US">Shares issued in debt extinguishments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesOther" xlink:label="us-gaap_StockIssuedDuringPeriodSharesOther" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesOther" xlink:to="us-gaap_StockIssuedDuringPeriodSharesOther_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesOther_lbl" xml:lang="en-US">Shares issued in debt extinguishments (in Shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPreferredStockStock" xlink:label="us-gaap_DividendsPreferredStockStock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPreferredStockStock" xlink:to="us-gaap_DividendsPreferredStockStock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsPreferredStockStock_lbl" xml:lang="en-US">Preferred stock dividends</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfitLoss" xlink:to="us-gaap_ProfitLoss_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProfitLoss_3_lbl" xml:lang="en-US">Net income (loss)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3_lbl" xml:lang="en-US">Balances</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharesIssued_2_lbl" xml:lang="en-US">Balances (in Shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OrganizationAndBasisOfPresentationAbstract" xlink:label="peix_OrganizationAndBasisOfPresentationAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OrganizationAndBasisOfPresentationAbstract" xlink:to="peix_OrganizationAndBasisOfPresentationAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_OrganizationAndBasisOfPresentationAbstract_lbl" xml:lang="en-US">Organization And Basis Of Presentation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:label="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:to="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock_lbl" xml:lang="en-US">1. ORGANIZATION AND BASIS OF PRESENTATION.</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VariableInterestEntityAbstract" xlink:label="peix_VariableInterestEntityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_VariableInterestEntityAbstract" xlink:to="peix_VariableInterestEntityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_VariableInterestEntityAbstract_lbl" xml:lang="en-US">Variable Interest Entity</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VariableInterestEntityTextBlock" xlink:label="peix_VariableInterestEntityTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_VariableInterestEntityTextBlock" xlink:to="peix_VariableInterestEntityTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_VariableInterestEntityTextBlock_lbl" xml:lang="en-US">2. VARIABLE INTEREST ENTITY</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_InventoriesAbstract" xlink:label="peix_InventoriesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_InventoriesAbstract" xlink:to="peix_InventoriesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="peix_InventoriesAbstract_lbl" xml:lang="en-US">Inventories</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" xlink:label="us-gaap_InventoryDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="us-gaap_InventoryDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl" xml:lang="en-US">3. INVENTORIES</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DerivativesAbstract" xlink:label="peix_DerivativesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_DerivativesAbstract" xlink:to="peix_DerivativesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_DerivativesAbstract_lbl" xml:lang="en-US">Derivatives</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:to="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_lbl" xml:lang="en-US">4. DERIVATIVES</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DebtAbstract" xlink:label="peix_DebtAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_DebtAbstract" xlink:to="peix_DebtAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_DebtAbstract_lbl" xml:lang="en-US">Debt</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="us-gaap_DebtDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureTextBlock" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US">Note 5. DEBT</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommonStockAndWarrantsAbstract" xlink:label="peix_CommonStockAndWarrantsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CommonStockAndWarrantsAbstract" xlink:to="peix_CommonStockAndWarrantsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_CommonStockAndWarrantsAbstract_lbl" xml:lang="en-US">Common Stock And Warrants</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">6. COMMON STOCK AND WARRANTS</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommitmentsAndContingenciesAbstract" xlink:label="peix_CommitmentsAndContingenciesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CommitmentsAndContingenciesAbstract" xlink:to="peix_CommitmentsAndContingenciesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_CommitmentsAndContingenciesAbstract_lbl" xml:lang="en-US">Commitments And Contingencies</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US">7. COMMITMENTS AND CONTINGENCIES</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueMeasurementsAbstract" xlink:label="peix_FairValueMeasurementsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueMeasurementsAbstract" xlink:to="peix_FairValueMeasurementsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_FairValueMeasurementsAbstract_lbl" xml:lang="en-US">Fair Value Measurements</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US">8. FAIR VALUE MEASUREMENTS.</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="us-gaap_EarningsPerShareTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US">Note 9 .EARNINGS PER SHARE</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="us-gaap_RelatedPartyTransactionsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsAbstract" xlink:to="us-gaap_RelatedPartyTransactionsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">10. RELATED PARTY TRANSACTIONS</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SubsequentEventAbstract" xlink:label="peix_SubsequentEventAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SubsequentEventAbstract" xlink:to="peix_SubsequentEventAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_SubsequentEventAbstract_lbl" xml:lang="en-US">Subsequent Event</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US">Note 11.SUBSEQUENT EVENT</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl" xml:lang="en-US">Property, Plant and Equipment [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US">3. PROPERTY AND EQUIPMENT</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:to="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_lbl" xml:lang="en-US">Goodwill and Intangible Assets Disclosure [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:label="us-gaap_IntangibleAssetsDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:to="us-gaap_IntangibleAssetsDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsDisclosureTextBlock_lbl" xml:lang="en-US">4. INTANGIBLE ASSETS</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReorganizationsAbstract" xlink:label="us-gaap_ReorganizationsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReorganizationsAbstract" xlink:to="us-gaap_ReorganizationsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReorganizationsAbstract_lbl" xml:lang="en-US">Reorganizations [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock" xlink:label="us-gaap_ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock" xlink:to="us-gaap_ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock_lbl" xml:lang="en-US">7. ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="us-gaap_IncomeTaxDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US">8. INCOME TAXES</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityAbstract" xlink:label="us-gaap_EquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityAbstract" xlink:to="us-gaap_EquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityAbstract_lbl" xml:lang="en-US">Equity [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockTextBlock" xlink:label="us-gaap_PreferredStockTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockTextBlock" xlink:to="us-gaap_PreferredStockTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockTextBlock_lbl" xml:lang="en-US">9. PREFERRED STOCK (Dec 2011 only)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xml:lang="en-US">11. STOCK-BASED COMPENSATION (Dec 2011 only)</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NotesToFinancialStatementsAbstract" xlink:label="peix_NotesToFinancialStatementsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NotesToFinancialStatementsAbstract" xlink:to="peix_NotesToFinancialStatementsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US">Notes to Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock" xlink:label="peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock" xlink:to="peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock_lbl" xml:lang="en-US">15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only)</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OrganizationAndBasisOfPresentationPoliciesAbstract" xlink:label="peix_OrganizationAndBasisOfPresentationPoliciesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OrganizationAndBasisOfPresentationPoliciesAbstract" xlink:to="peix_OrganizationAndBasisOfPresentationPoliciesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_OrganizationAndBasisOfPresentationPoliciesAbstract_lbl" xml:lang="en-US">Organization And Basis Of Presentation Policies</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NatureOfOperations" xlink:label="us-gaap_NatureOfOperations" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfOperations" xlink:to="us-gaap_NatureOfOperations_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NatureOfOperations_lbl" xml:lang="en-US">Organization and Business</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiquidityDisclosureTextBlock" xlink:label="us-gaap_LiquidityDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiquidityDisclosureTextBlock" xlink:to="us-gaap_LiquidityDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiquidityDisclosureTextBlock_lbl" xml:lang="en-US">Liquidity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US">Basis of Presentation-Interim Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseOfEstimates_lbl" xml:lang="en-US">Use of Estimates</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Reclassifications" xlink:label="us-gaap_Reclassifications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Reclassifications" xlink:to="us-gaap_Reclassifications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Reclassifications_lbl" xml:lang="en-US">Reclassifications</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:label="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:to="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_lbl" xml:lang="en-US">Accounts Receivable and Allowance for Doubtful Accounts</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VariableInterestEntityTablesAbstract" xlink:label="peix_VariableInterestEntityTablesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_VariableInterestEntityTablesAbstract" xlink:to="peix_VariableInterestEntityTablesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_VariableInterestEntityTablesAbstract_lbl" xml:lang="en-US">Variable Interest Entity Tables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:label="us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:to="us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_lbl" xml:lang="en-US">Value and classification of assets that are collateral for obligations of New PE Holdco</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_InventoriesTablesAbstract" xlink:label="peix_InventoriesTablesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_InventoriesTablesAbstract" xlink:to="peix_InventoriesTablesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_InventoriesTablesAbstract_lbl" xml:lang="en-US">Inventories Tables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:to="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl" xml:lang="en-US">Inventories</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DerivativesTablesAbstract" xlink:label="peix_DerivativesTablesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_DerivativesTablesAbstract" xlink:to="peix_DerivativesTablesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_DerivativesTablesAbstract_lbl" xml:lang="en-US">Derivatives Tables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:label="us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:to="us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_lbl" xml:lang="en-US">Derivatives not designated as hedging instruments</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DebtTablesAbstract" xlink:label="peix_DebtTablesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_DebtTablesAbstract" xlink:to="peix_DebtTablesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_DebtTablesAbstract_lbl" xml:lang="en-US">Debt Tables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xml:lang="en-US">Long Term Debt</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommitmentsAndContingenciesTablesAbstract" xlink:label="peix_CommitmentsAndContingenciesTablesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CommitmentsAndContingenciesTablesAbstract" xlink:to="peix_CommitmentsAndContingenciesTablesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_CommitmentsAndContingenciesTablesAbstract_lbl" xml:lang="en-US">Commitments And Contingencies Tables</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentsTextBlock" xlink:label="peix_SalesCommitmentsTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SalesCommitmentsTextBlock" xlink:to="peix_SalesCommitmentsTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_SalesCommitmentsTextBlock_lbl" xml:lang="en-US">Sales commitments</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueMeasurementsTablesAbstract" xlink:label="peix_FairValueMeasurementsTablesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueMeasurementsTablesAbstract" xlink:to="peix_FairValueMeasurementsTablesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_FairValueMeasurementsTablesAbstract_lbl" xml:lang="en-US">Fair Value Measurements Tables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:to="us-gaap_FairValueByBalanceSheetGroupingTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByBalanceSheetGroupingTextBlock_lbl" xml:lang="en-US">Significant assumptions used in the valuations</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:to="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_lbl" xml:lang="en-US">Changes in the fair value of the Company's Level 3 inputs</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_lbl" xml:lang="en-US">Summary of fair value measurements by level</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EarningsPerShareTablesAbstract" xlink:label="peix_EarningsPerShareTablesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_EarningsPerShareTablesAbstract" xlink:to="peix_EarningsPerShareTablesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_EarningsPerShareTablesAbstract_lbl" xml:lang="en-US">Earnings Per Share Tables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock" xlink:label="us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock" xlink:to="us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock_lbl" xml:lang="en-US">Earning Per Share</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OrganizationAndBasisOfPresentationDetailsNarrativeAbstract" xlink:label="peix_OrganizationAndBasisOfPresentationDetailsNarrativeAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OrganizationAndBasisOfPresentationDetailsNarrativeAbstract" xlink:to="peix_OrganizationAndBasisOfPresentationDetailsNarrativeAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_OrganizationAndBasisOfPresentationDetailsNarrativeAbstract_lbl" xml:lang="en-US">Organization And Basis Of Presentation Details Narrative</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US">Organization and basis of Presentation</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_LineOfCreditCollateralUsed" xlink:label="peix_LineOfCreditCollateralUsed" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_LineOfCreditCollateralUsed" xlink:to="peix_LineOfCreditCollateralUsed_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_LineOfCreditCollateralUsed_lbl" xml:lang="en-US">Line of credit collateral used</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US">Allowance for doubtful accounts</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" xlink:to="us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts_2_lbl" xml:lang="en-US">Bad debt recovery</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="us-gaap_ScheduleOfVariableInterestEntitiesTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:to="us-gaap_ScheduleOfVariableInterestEntitiesTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfVariableInterestEntitiesTable_lbl" xml:lang="en-US">Schedule of Variable Interest Entities [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="us-gaap_VariableInterestEntityLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityLineItems" xlink:to="us-gaap_VariableInterestEntityLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntityLineItems_lbl" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:to="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_2_lbl" xml:lang="en-US">Variable Interest Entities [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:label="us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract_lbl" xml:lang="en-US">Values and classification of assets that are collateral for the obligations of New PE Holdco</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CashAndCashEquivalentsVIE" xlink:label="peix_CashAndCashEquivalentsVIE" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CashAndCashEquivalentsVIE" xlink:to="peix_CashAndCashEquivalentsVIE_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="peix_CashAndCashEquivalentsVIE_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OtherCurrentAssetsVIE" xlink:label="peix_OtherCurrentAssetsVIE" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OtherCurrentAssetsVIE" xlink:to="peix_OtherCurrentAssetsVIE_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="peix_OtherCurrentAssetsVIE_lbl" xml:lang="en-US">Other current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PropertyAndEquipmentVIE" xlink:label="peix_PropertyAndEquipmentVIE" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PropertyAndEquipmentVIE" xlink:to="peix_PropertyAndEquipmentVIE_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_PropertyAndEquipmentVIE_lbl" xml:lang="en-US">Property and equipment</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OtherAssetsVIE" xlink:label="peix_OtherAssetsVIE" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OtherAssetsVIE" xlink:to="peix_OtherAssetsVIE_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="peix_OtherAssetsVIE_lbl" xml:lang="en-US">Other assets</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_TotalAssetsVIE" xlink:label="peix_TotalAssetsVIE" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_TotalAssetsVIE" xlink:to="peix_TotalAssetsVIE_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_TotalAssetsVIE_lbl" xml:lang="en-US">Total assets</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CurrentLiabilitiesVIE" xlink:label="peix_CurrentLiabilitiesVIE" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CurrentLiabilitiesVIE" xlink:to="peix_CurrentLiabilitiesVIE_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_CurrentLiabilitiesVIE_lbl" xml:lang="en-US">Current liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_LongAndShortTermDebt" xlink:label="peix_LongAndShortTermDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_LongAndShortTermDebt" xlink:to="peix_LongAndShortTermDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_LongAndShortTermDebt_lbl" xml:lang="en-US">Long-term debt, including current portion</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OtherLiabilitiesVIE" xlink:label="peix_OtherLiabilitiesVIE" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OtherLiabilitiesVIE" xlink:to="peix_OtherLiabilitiesVIE_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="peix_OtherLiabilitiesVIE_lbl" xml:lang="en-US">Other liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_TotalLiabilitiesVIE" xlink:label="peix_TotalLiabilitiesVIE" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_TotalLiabilitiesVIE" xlink:to="peix_TotalLiabilitiesVIE_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_TotalLiabilitiesVIE_lbl" xml:lang="en-US">Total liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VariableInterestEntityDetailsNarrativeAbstract" xlink:label="peix_VariableInterestEntityDetailsNarrativeAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_VariableInterestEntityDetailsNarrativeAbstract" xlink:to="peix_VariableInterestEntityDetailsNarrativeAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_VariableInterestEntityDetailsNarrativeAbstract_lbl" xml:lang="en-US">Variable Interest Entity Details Narrative</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:label="us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:to="us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_lbl" xml:lang="en-US">Proforma net income (loss) available to common stockholders</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic" xlink:label="us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic" xlink:to="us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_lbl" xml:lang="en-US">Proforma income (loss) per share</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_InventoriesDetailsAbstract" xlink:label="peix_InventoriesDetailsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_InventoriesDetailsAbstract" xlink:to="peix_InventoriesDetailsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_InventoriesDetailsAbstract_lbl" xml:lang="en-US">Inventories Details</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryNetAbstract" xlink:label="us-gaap_InventoryNetAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNetAbstract" xlink:to="us-gaap_InventoryNetAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryNetAbstract_lbl" xml:lang="en-US">Inventory balances</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryFinishedGoods" xlink:label="us-gaap_InventoryFinishedGoods" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryFinishedGoods" xlink:to="us-gaap_InventoryFinishedGoods_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryFinishedGoods_lbl" xml:lang="en-US">Finished goods</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryWorkInProcess" xlink:label="us-gaap_InventoryWorkInProcess" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryWorkInProcess" xlink:to="us-gaap_InventoryWorkInProcess_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryWorkInProcess_lbl" xml:lang="en-US">Work in progress</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryRawMaterials" xlink:label="us-gaap_InventoryRawMaterials" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryRawMaterials" xlink:to="us-gaap_InventoryRawMaterials_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryRawMaterials_lbl" xml:lang="en-US">Raw materials</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherInventorySupplies" xlink:label="us-gaap_OtherInventorySupplies" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherInventorySupplies" xlink:to="us-gaap_OtherInventorySupplies_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherInventorySupplies_lbl" xml:lang="en-US">Other</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InventoryNet_2_lbl" xml:lang="en-US">Total</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_lbl" xml:lang="en-US">Derivative Instruments, Gain (Loss) by Hedging Relationship, by Income Statement Location, by Derivative Instrument Risk [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:label="us-gaap_DerivativeInstrumentsGainLossLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:to="us-gaap_DerivativeInstrumentsGainLossLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentsGainLossLineItems_lbl" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract" xlink:label="us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract" xlink:to="us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract_lbl" xml:lang="en-US">Classification and amounts of the Company's derivatives not designated as hedging instruments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet" xlink:label="us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet" xlink:to="us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet_lbl" xml:lang="en-US">Realized Gains (Losses)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnDerivatives" xlink:to="us-gaap_UnrealizedGainLossOnDerivatives_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_2_lbl" xml:lang="en-US">Unrealized Gains</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DerivativesDetailsNarrativeAbstract" xlink:label="peix_DerivativesDetailsNarrativeAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_DerivativesDetailsNarrativeAbstract" xlink:to="peix_DerivativesDetailsNarrativeAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_DerivativesDetailsNarrativeAbstract_lbl" xml:lang="en-US">Derivatives Details Narrative</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_AdditionalTextualsAbstract" xlink:label="peix_AdditionalTextualsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_AdditionalTextualsAbstract" xlink:to="peix_AdditionalTextualsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_AdditionalTextualsAbstract_lbl" xml:lang="en-US">Additional details</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainRecognizedInIncome" xlink:label="us-gaap_DerivativeInstrumentsGainRecognizedInIncome" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainRecognizedInIncome" xlink:to="us-gaap_DerivativeInstrumentsGainRecognizedInIncome_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentsGainRecognizedInIncome_lbl" xml:lang="en-US">Recognized gains and losses due to change in fair value</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2012/invest-2012-01-31.xsd#invest_DerivativeNotionalAmount" xlink:label="invest_DerivativeNotionalAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_DerivativeNotionalAmount" xlink:to="invest_DerivativeNotionalAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_DerivativeNotionalAmount_lbl" xml:lang="en-US">Notional balances</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_lbl" xml:lang="en-US">Accrued liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NonDesignatedDerivativeOtherAssets" xlink:label="peix_NonDesignatedDerivativeOtherAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NonDesignatedDerivativeOtherAssets" xlink:to="peix_NonDesignatedDerivativeOtherAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_NonDesignatedDerivativeOtherAssets_lbl" xml:lang="en-US">Other Assets</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DebtDetailsAbstract" xlink:label="peix_DebtDetailsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_DebtDetailsAbstract" xlink:to="peix_DebtDetailsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_DebtDetailsAbstract_lbl" xml:lang="en-US">Debt Details</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtByComponentsAlternativeAbstract" xlink:label="us-gaap_LongTermDebtByComponentsAlternativeAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtByComponentsAlternativeAbstract" xlink:to="us-gaap_LongTermDebtByComponentsAlternativeAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtByComponentsAlternativeAbstract_lbl" xml:lang="en-US">Long-term borrowings are summarized as follows</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCredit" xlink:to="us-gaap_LineOfCredit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCredit_lbl" xml:lang="en-US">Kinergy operating line of credit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeniorNotes" xlink:label="us-gaap_SeniorNotes" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeniorNotes" xlink:to="us-gaap_SeniorNotes_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SeniorNotes_lbl" xml:lang="en-US">Senior unsecured notes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:to="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_lbl" xml:lang="en-US">Note payable to related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MediumTermNotes" xlink:label="us-gaap_MediumTermNotes" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MediumTermNotes" xlink:to="us-gaap_MediumTermNotes_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MediumTermNotes_lbl" xml:lang="en-US">Plant Owner's term debt</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NewPeHoldcoOperatingLineOfCredit" xlink:label="peix_NewPeHoldcoOperatingLineOfCredit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NewPeHoldcoOperatingLineOfCredit" xlink:to="peix_NewPeHoldcoOperatingLineOfCredit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_NewPeHoldcoOperatingLineOfCredit_lbl" xml:lang="en-US">Plant Owner's operating line of credit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Long-term Debt, current and non-current</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShortTermBorrowings" xlink:label="us-gaap_ShortTermBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermBorrowings" xlink:to="us-gaap_ShortTermBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShortTermBorrowings_lbl" xml:lang="en-US">Less short-term portion</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtNoncurrent" xlink:to="us-gaap_LongTermDebtNoncurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtNoncurrent_2_lbl" xml:lang="en-US">Long-term debt</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_RecordedInterestNotesPayableRelatedParty" xlink:label="peix_RecordedInterestNotesPayableRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_RecordedInterestNotesPayableRelatedParty" xlink:to="peix_RecordedInterestNotesPayableRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_RecordedInterestNotesPayableRelatedParty_lbl" xml:lang="en-US">Recorded interest notes payable, related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_lbl" xml:lang="en-US">Unused availability under the revolving credit facility</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" xlink:label="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" xlink:to="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings_lbl" xml:lang="en-US">Increased borrowings under line of credit</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis" xlink:label="peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis" xlink:to="peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis_lbl" xml:lang="en-US">Exercised warrants with respect of common stock on a cashless exercise basis - shares</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NetSharesOfCommonStockIssued" xlink:label="peix_NetSharesOfCommonStockIssued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NetSharesOfCommonStockIssued" xlink:to="peix_NetSharesOfCommonStockIssued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_NetSharesOfCommonStockIssued_lbl" xml:lang="en-US">Net shares of common stock issued on a cashless basis - shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Warrant holders exercised warrants for cash - shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xml:lang="en-US">Warrant holders exercised warrants for cash - amount</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentsAbstract" xlink:label="peix_SalesCommitmentsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SalesCommitmentsAbstract" xlink:to="peix_SalesCommitmentsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_SalesCommitmentsAbstract_lbl" xml:lang="en-US">Sales Commitments</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" xlink:label="peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" xlink:to="peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts_lbl" xml:lang="en-US">Sales commitments amount, fixed price contracts</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PurchaseCommitmentsAbstract" xlink:label="peix_PurchaseCommitmentsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PurchaseCommitmentsAbstract" xlink:to="peix_PurchaseCommitmentsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_PurchaseCommitmentsAbstract_lbl" xml:lang="en-US">Additional commitments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted" xlink:label="us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted" xlink:to="us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted_lbl" xml:lang="en-US">Fixed-price purchase contracts to purchase, ethanol</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:label="us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:to="us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Significant assumptions used in the valuations</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsExercisePrice" xlink:label="us-gaap_FairValueAssumptionsExercisePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsExercisePrice" xlink:to="us-gaap_FairValueAssumptionsExercisePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssumptionsExercisePrice_lbl" xml:lang="en-US">Exercise price</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsExpectedVolatilityRate" xlink:label="us-gaap_FairValueAssumptionsExpectedVolatilityRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsExpectedVolatilityRate" xlink:to="us-gaap_FairValueAssumptionsExpectedVolatilityRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssumptionsExpectedVolatilityRate_lbl" xml:lang="en-US">Volatility</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsRiskFreeInterestRate" xlink:label="us-gaap_FairValueAssumptionsRiskFreeInterestRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsRiskFreeInterestRate" xlink:to="us-gaap_FairValueAssumptionsRiskFreeInterestRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssumptionsRiskFreeInterestRate_lbl" xml:lang="en-US">Risk free interest rate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsExpectedTerm" xlink:label="us-gaap_FairValueAssumptionsExpectedTerm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsExpectedTerm" xlink:to="us-gaap_FairValueAssumptionsExpectedTerm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssumptionsExpectedTerm_lbl" xml:lang="en-US">Term (years)</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueAssumptionsMarketabilityDiscount" xlink:label="peix_FairValueAssumptionsMarketabilityDiscount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueAssumptionsMarketabilityDiscount" xlink:to="peix_FairValueAssumptionsMarketabilityDiscount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_FairValueAssumptionsMarketabilityDiscount_lbl" xml:lang="en-US">Marketability discount</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WarrantLiabilities" xlink:to="peix_WarrantLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="peix_WarrantLiabilities_2_lbl" xml:lang="en-US">Fair value</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_lbl" xml:lang="en-US">Fair Value Measurements, Recurring and Nonrecurring [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems_lbl" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_2_lbl" xml:lang="en-US">Fair Value, Hierarchy [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_lbl" xml:lang="en-US">Changes in the fair value of the Company's Level 3 inputs</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl" xml:lang="en-US">Beginning Balance</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" xlink:label="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" xlink:to="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue_lbl" xml:lang="en-US">Warrant exercises</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:to="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_lbl" xml:lang="en-US">Adjustments to fair value for the period</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_2_lbl" xml:lang="en-US">Ending Balance</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_JulyOffering" xlink:label="peix_JulyOffering" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_JulyOffering" xlink:to="peix_JulyOffering_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_JulyOffering_lbl" xml:lang="en-US">July Offering</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SeptemberOffering" xlink:label="peix_SeptemberOffering" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SeptemberOffering" xlink:to="peix_SeptemberOffering_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_SeptemberOffering_lbl" xml:lang="en-US">September Offering</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_lbl" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract_lbl" xml:lang="en-US">Summary of fair value measurements by level</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="us-gaap_LiabilitiesFairValueDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:to="us-gaap_LiabilitiesFairValueDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesFairValueDisclosureAbstract_lbl" xml:lang="en-US">Liabilities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="us-gaap_LiabilitiesFairValueDisclosure" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesFairValueDisclosure" xlink:to="us-gaap_LiabilitiesFairValueDisclosure_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesFairValueDisclosure_lbl" xml:lang="en-US">Liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="us-gaap_AssetsFairValueDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosureAbstract" xlink:to="us-gaap_AssetsFairValueDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsFairValueDisclosureAbstract_lbl" xml:lang="en-US">Assets:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="us-gaap_AssetsFairValueDisclosure" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_AssetsFairValueDisclosure_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsFairValueDisclosure_lbl" xml:lang="en-US">Assets</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EarningsPerShareDetailsAbstract" xlink:label="peix_EarningsPerShareDetailsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_EarningsPerShareDetailsAbstract" xlink:to="peix_EarningsPerShareDetailsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_EarningsPerShareDetailsAbstract_lbl" xml:lang="en-US">Earnings Per Share Details</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:label="us-gaap_EarningsPerShareBasicAndDilutedAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:to="us-gaap_EarningsPerShareBasicAndDilutedAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAndDilutedAbstract_lbl" xml:lang="en-US">Basic and diluted earnings per share</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_2_lbl" xml:lang="en-US">Net loss/Income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockDividendsAndOtherAdjustments" xlink:label="us-gaap_PreferredStockDividendsAndOtherAdjustments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockDividendsAndOtherAdjustments" xlink:to="us-gaap_PreferredStockDividendsAndOtherAdjustments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockDividendsAndOtherAdjustments_lbl" xml:lang="en-US">Less: Preferred stock dividends</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract" xlink:label="us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract" xlink:to="us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract_lbl" xml:lang="en-US">Basic and diluted loss per share:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xml:lang="en-US">Loss/Income available to common stockholders</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:to="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xml:lang="en-US">Basic and diluted, shares</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_2_lbl" xml:lang="en-US">Basic and diluted, per share</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EarningsPerShareDetailsTextualsAbstract" xlink:label="peix_EarningsPerShareDetailsTextualsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_EarningsPerShareDetailsTextualsAbstract" xlink:to="peix_EarningsPerShareDetailsTextualsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_EarningsPerShareDetailsTextualsAbstract_lbl" xml:lang="en-US">Earnings Per Share Details Narrative</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DilutiveSecuritiesAbstract" xlink:label="us-gaap_DilutiveSecuritiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DilutiveSecuritiesAbstract" xlink:to="us-gaap_DilutiveSecuritiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DilutiveSecuritiesAbstract_lbl" xml:lang="en-US">Dilutive securities</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare" xlink:label="peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare" xlink:to="peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare_lbl" xml:lang="en-US">Potentially dilutive weighted-average shares from convertible securities not considered in calculation of diluted shares</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_RelatedPartyTransactionsDetailsTextualsAbstract" xlink:label="peix_RelatedPartyTransactionsDetailsTextualsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_RelatedPartyTransactionsDetailsTextualsAbstract" xlink:to="peix_RelatedPartyTransactionsDetailsTextualsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_RelatedPartyTransactionsDetailsTextualsAbstract_lbl" xml:lang="en-US">Related Party Transactions Details Narrative</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_AdditionalRelatedPartiesAbstract" xlink:label="peix_AdditionalRelatedPartiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_AdditionalRelatedPartiesAbstract" xlink:to="peix_AdditionalRelatedPartiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_AdditionalRelatedPartiesAbstract_lbl" xml:lang="en-US">Additional related parties</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:to="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_2_lbl" xml:lang="en-US">Note payable to its Chief Executive Officer</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_AdditionalRelatedPartiesAbstract" xlink:to="peix_AdditionalRelatedPartiesAbstract_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_AdditionalRelatedPartiesAbstract_doc" xml:lang="en-US">Additional Related Parties.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_AdditionalTextualsAbstract" xlink:to="peix_AdditionalTextualsAbstract_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_AdditionalTextualsAbstract_doc" xml:lang="en-US">Additional Textuals.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CashAndCashEquivalentsVIE" xlink:to="peix_CashAndCashEquivalentsVIE_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_CashAndCashEquivalentsVIE_doc" xml:lang="en-US">Cash and cash equivalents used as collateral for New PE Holdco</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="peix_ChangesInOperatingAssetsAndLiabilitiesAbstract_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_ChangesInOperatingAssetsAndLiabilitiesAbstract_doc" xml:lang="en-US">Changes In Operating Assets And Liabilities.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare" xlink:to="peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare_doc" xml:lang="en-US">Convertible Securities Dilutive Shares Not Considered In Diluted Share.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CurrentLiabilitiesVIE" xlink:to="peix_CurrentLiabilitiesVIE_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_CurrentLiabilitiesVIE_doc" xml:lang="en-US">Current liabilites used as collateral for New PE Holdco</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_EthanolMember" xlink:to="peix_EthanolMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_EthanolMember_doc" xml:lang="en-US">Ethanol.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis" xlink:to="peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis_doc" xml:lang="en-US">Exercised Warrants With Respect Of Common Stock On Cashless Exercise Basis.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:to="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants_doc" xml:lang="en-US">Fair Value Adjustments On Convertible Debt And Warrants.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueAssumptionsMarketabilityDiscount" xlink:to="peix_FairValueAssumptionsMarketabilityDiscount_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_FairValueAssumptionsMarketabilityDiscount_doc" xml:lang="en-US">Fair Value Assumptions Marketability Discount.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" xlink:to="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue_doc" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Warranty Exercises Liability Value.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_LongAndShortTermDebt" xlink:to="peix_LongAndShortTermDebt_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_LongAndShortTermDebt_doc" xml:lang="en-US">Long-term debt including current portion</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NetSharesOfCommonStockIssued" xlink:to="peix_NetSharesOfCommonStockIssued_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_NetSharesOfCommonStockIssued_doc" xml:lang="en-US">Net Shares Of Common Stock Issued.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NewPeHoldcoOperatingLineOfCredit" xlink:to="peix_NewPeHoldcoOperatingLineOfCredit_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_NewPeHoldcoOperatingLineOfCredit_doc" xml:lang="en-US">New PE Holdco Operating Line of Credit</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NonDesignatedDerivativeOtherAssets" xlink:to="peix_NonDesignatedDerivativeOtherAssets_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_NonDesignatedDerivativeOtherAssets_doc" xml:lang="en-US">Non Designated Derivative</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OtherAssetsVIE" xlink:to="peix_OtherAssetsVIE_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_OtherAssetsVIE_doc" xml:lang="en-US">Other assets used as collateral for New PE Holdco</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OtherCurrentAssetsVIE" xlink:to="peix_OtherCurrentAssetsVIE_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_OtherCurrentAssetsVIE_doc" xml:lang="en-US">Other current assets used as collateral for New PE Holdco</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OtherLiabilitiesVIE" xlink:to="peix_OtherLiabilitiesVIE_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_OtherLiabilitiesVIE_doc" xml:lang="en-US">Other liabilites used as collateral for New PE Holdco</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PreferredStockDividendsAccrued" xlink:to="peix_PreferredStockDividendsAccrued_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_PreferredStockDividendsAccrued_doc" xml:lang="en-US">Preferred Stock Dividends Accrued.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PropertyAndEquipmentVIE" xlink:to="peix_PropertyAndEquipmentVIE_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_PropertyAndEquipmentVIE_doc" xml:lang="en-US">Property and equipment used as collateral for New PE Holdco</link:label>
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PurchaseCommitmentMinimumVolumeRequired" xlink:label="peix_PurchaseCommitmentMinimumVolumeRequired" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PurchaseCommitmentMinimumVolumeRequired" xlink:to="peix_PurchaseCommitmentMinimumVolumeRequired_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_PurchaseCommitmentMinimumVolumeRequired_doc" xml:lang="en-US">Purchase Commitment Minimum Volume Required.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PurchaseCommitmentsAbstract" xlink:to="peix_PurchaseCommitmentsAbstract_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_PurchaseCommitmentsAbstract_doc" xml:lang="en-US">Purchase Commitments.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_RecordedInterestNotesPayableRelatedParty" xlink:to="peix_RecordedInterestNotesPayableRelatedParty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_RecordedInterestNotesPayableRelatedParty_doc" xml:lang="en-US">Recorded Interest Notes Payable Related Party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SalesCommitmentByCategoryOfItemAxis" xlink:to="peix_SalesCommitmentByCategoryOfItemAxis_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_SalesCommitmentByCategoryOfItemAxis_doc" xml:lang="en-US">Sales Commitment By Category Of Item.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" xlink:to="peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts_doc" xml:lang="en-US">Sales Commitment Remaining Minimum Amount Committed Fixed Price Contracts.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SalesCommitmentsAbstract" xlink:to="peix_SalesCommitmentsAbstract_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_SalesCommitmentsAbstract_doc" xml:lang="en-US">Sales Commitments.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SalesCommitmentsTextBlock" xlink:to="peix_SalesCommitmentsTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_SalesCommitmentsTextBlock_doc" xml:lang="en-US">Sales Commitments.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_TotalAssetsVIE" xlink:to="peix_TotalAssetsVIE_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_TotalAssetsVIE_doc" xml:lang="en-US">Total assets used as collateral for New PE Holdco</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_TotalLiabilitiesVIE" xlink:to="peix_TotalLiabilitiesVIE_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_TotalLiabilitiesVIE_doc" xml:lang="en-US">Total liabilites used as collateral for New PE Holdco</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_VariableInterestEntityTextBlock" xlink:to="peix_VariableInterestEntityTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_VariableInterestEntityTextBlock_doc" xml:lang="en-US">Variable Interest Entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_VIEBalanceSheetMember" xlink:to="peix_VIEBalanceSheetMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_VIEBalanceSheetMember_doc" xml:lang="en-US">Variable Interest Entity Balance Sheet Member</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WarrantsIssuedDecember2011Member" xlink:to="peix_WarrantsIssuedDecember2011Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_WarrantsIssuedDecember2011Member_doc" xml:lang="en-US">Warrants Issued December 2011.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WarrantsIssuedOctober2010Member" xlink:to="peix_WarrantsIssuedOctober2010Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_WarrantsIssuedOctober2010Member_doc" xml:lang="en-US">Warrants Issued October 2010.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WetDistillersGrainMember" xlink:to="peix_WetDistillersGrainMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_WetDistillersGrainMember_doc" xml:lang="en-US">Wet Distillers Grain.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity" xlink:to="peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity_doc" xml:lang="en-US">Notes issued for purchase of ownership interests</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_KinergyMember" xlink:to="peix_KinergyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_KinergyMember_doc" xml:lang="en-US">Kinergy member</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PlantOwnersMember" xlink:to="peix_PlantOwnersMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_PlantOwnersMember_doc" xml:lang="en-US">Plant owners member</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_JulyOffering" xlink:to="peix_JulyOffering_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_JulyOffering_doc" xml:lang="en-US">July offering</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SeptemberOffering" xlink:to="peix_SeptemberOffering_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_SeptemberOffering_doc" xml:lang="en-US">September offering</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CommodityContractsMember" xlink:to="peix_CommodityContractsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_CommodityContractsMember_doc" xml:lang="en-US">Commodity contracts member</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WarrantsIssuedSeptember2012Member" xlink:to="peix_WarrantsIssuedSeptember2012Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_WarrantsIssuedSeptember2012Member_doc" xml:lang="en-US">Warrants issued July 2012</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_Warrants2IssuedJuly2012Member" xlink:to="peix_Warrants2IssuedJuly2012Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_Warrants2IssuedJuly2012Member_doc" xml:lang="en-US">Warrants issued July 2012</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_Warrants1IssuedJuly2012Member" xlink:to="peix_Warrants1IssuedJuly2012Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_Warrants1IssuedJuly2012Member_doc" xml:lang="en-US">Warrants issued July 2012</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_WarrantLiabilities" xlink:to="peix_WarrantLiabilities_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_WarrantLiabilities_doc" xml:lang="en-US">Warrant liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_LineOfCreditCollateralUsed" xlink:to="peix_LineOfCreditCollateralUsed_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_LineOfCreditCollateralUsed_doc" xml:lang="en-US">Line of credit collateral used</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_DeconsolidationOfFrontRange" xlink:to="peix_DeconsolidationOfFrontRange_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_DeconsolidationOfFrontRange_doc" xml:lang="en-US">Deconsolidation of Front Range</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ConsolidationOfNewPEHoldco" xlink:to="peix_ConsolidationOfNewPEHoldco_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_ConsolidationOfNewPEHoldco_doc" xml:lang="en-US">Consolidation of New PE Holdco</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ConversionOfPreferredStockToCommonStock" xlink:to="peix_ConversionOfPreferredStockToCommonStock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_ConversionOfPreferredStockToCommonStock_doc" xml:lang="en-US">Conversion of preferred stock to common stock</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ConversionOfPreferredStockToCommonStockShares" xlink:to="peix_ConversionOfPreferredStockToCommonStockShares_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_ConversionOfPreferredStockToCommonStockShares_doc" xml:lang="en-US">ConversionOfPreferredStockToCommonStockShares</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_StockIssuedWarrantExercises" xlink:to="peix_StockIssuedWarrantExercises_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_StockIssuedWarrantExercises_doc" xml:lang="en-US">Warrant exercises</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SharesIssuedWarrantExercisesShares" xlink:to="peix_SharesIssuedWarrantExercisesShares_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_SharesIssuedWarrantExercisesShares_doc" xml:lang="en-US">SharesIssuedWarrantExercisesShares</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_SharesIssuedInDebtExtinguishments" xlink:to="peix_SharesIssuedInDebtExtinguishments_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_SharesIssuedInDebtExtinguishments_doc" xml:lang="en-US">Shares issued in debt extinguishments</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_InterestOnConvertibleDebtPaidWithStock" xlink:to="peix_InterestOnConvertibleDebtPaidWithStock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_InterestOnConvertibleDebtPaidWithStock_doc" xml:lang="en-US">Interest on Convertible debt paid with stock</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_NetCashImpactOfBankruptcyExit" xlink:to="peix_NetCashImpactOfBankruptcyExit_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_NetCashImpactOfBankruptcyExit_doc" xml:lang="en-US">Net cash impact of bankruptcy exit</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants" xlink:to="peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants_doc" xml:lang="en-US">Reclass of warrant liability to equity upon cashless net exercise of warrants</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock" xlink:to="peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock_doc" xml:lang="en-US">Partial company financials in Chapter 11 or Reorganizaiton text block</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_2_lbl" xml:lang="en-US">Assets, Current</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssets" xlink:to="us-gaap_OtherAssets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssets_2_lbl" xml:lang="en-US">Other Assets [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_2_lbl" xml:lang="en-US">Assets [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_2_lbl" xml:lang="en-US">Liabilities, Current</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesNoncurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesNoncurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAccruedLiabilitiesNoncurrent_2_lbl" xml:lang="en-US">Other Accrued Liabilities, Noncurrent</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_2_lbl" xml:lang="en-US">Liabilities [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_2_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Parent</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_4_lbl" xml:lang="en-US">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_2_lbl" xml:lang="en-US">Liabilities and Equity</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GrossProfit" xlink:to="us-gaap_GrossProfit_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GrossProfit_2_lbl" xml:lang="en-US">Gross Profit</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_2_lbl" xml:lang="en-US">Operating Income (Loss)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_2_lbl" xml:lang="en-US">Interest Expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherGeneralExpense" xlink:to="us-gaap_OtherGeneralExpense_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherGeneralExpense_2_lbl" xml:lang="en-US">Other General Expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_2_lbl" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReorganizationItems" xlink:to="us-gaap_ReorganizationItems_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReorganizationItems_2_lbl" xml:lang="en-US">Reorganization Items</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" xlink:to="us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_2_lbl" xml:lang="en-US">Income (Loss) from Continuing Operations Attributable to Noncontrolling Interest</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPreferredStock" xlink:to="us-gaap_DividendsPreferredStock_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsPreferredStock_2_lbl" xml:lang="en-US">Dividends, Preferred Stock</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_2_lbl" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInInventories_2_lbl" xml:lang="en-US">Increase (Decrease) in Inventories</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherCurrentAssets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherCurrentAssets_2_lbl" xml:lang="en-US">Increase (Decrease) in Other Current Assets</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_2_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates" xlink:to="us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_2_lbl" xml:lang="en-US">Payments to Acquire Businesses and Interest in Affiliates</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_2_lbl" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_2_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:to="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_2_lbl" xml:lang="en-US">Payments of Ordinary Dividends, Preferred Stock and Preference Stock</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_2_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2_lbl" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesIssued_3_lbl" xml:lang="en-US">Shares, Issued</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_InventoriesAbstract" xlink:to="peix_InventoriesAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_InventoriesAbstract_2_lbl" xml:lang="en-US">InventoriesAbstract</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:to="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_2_lbl" xml:lang="en-US">Schedule of Inventory, Current [Table Text Block]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_CashAndCashEquivalentsVIE" xlink:to="peix_CashAndCashEquivalentsVIE_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_CashAndCashEquivalentsVIE_3_lbl" xml:lang="en-US">CashAndCashEquivalentsVIE</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OtherCurrentAssetsVIE" xlink:to="peix_OtherCurrentAssetsVIE_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_OtherCurrentAssetsVIE_3_lbl" xml:lang="en-US">OtherCurrentAssetsVIE</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OtherAssetsVIE" xlink:to="peix_OtherAssetsVIE_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_OtherAssetsVIE_3_lbl" xml:lang="en-US">OtherAssetsVIE</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_OtherLiabilitiesVIE" xlink:to="peix_OtherLiabilitiesVIE_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_OtherLiabilitiesVIE_3_lbl" xml:lang="en-US">OtherLiabilitiesVIE</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_2_lbl" xml:lang="en-US">Accrued Liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:to="us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract_2_lbl" xml:lang="en-US">Fair Value Assumptions and Methodology for Assets and Liabilities [Abstract]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_2_lbl" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_3_lbl" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" xlink:to="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue_3_lbl" xml:lang="en-US">Warrant exercises [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" xlink:to="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract_2_lbl" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="peix_PurchaseCommitmentMinimumVolumeRequired" xlink:to="peix_PurchaseCommitmentMinimumVolumeRequired_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="peix_PurchaseCommitmentMinimumVolumeRequired_2_lbl" xml:lang="en-US">Indexed-price contracts to purchase ethanol, gallons</link:label>
    </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>18
<FILENAME>peix-20120930_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 3.4b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Source; Value: paceth_s1%2D2013%2D3.xfr; Date: 2013/02/08T21:01:51 -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x800D0000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://compsciresources.com/role/DocumentAndEntityInformation" xlink:href="peix-20120930.xsd#DocumentAndEntityInformation" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedBalanceSheets" xlink:href="peix-20120930.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="peix-20120930.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfOperations" xlink:href="peix-20120930.xsd#ConsolidatedStatementsOfOperations" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="peix-20120930.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:href="peix-20120930.xsd#ConsolidatedStatementsOfStockholdersEquity" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentation" xlink:href="peix-20120930.xsd#OrganizationAndBasisOfPresentation" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntity" xlink:href="peix-20120930.xsd#VariableInterestEntity" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Inventories" xlink:href="peix-20120930.xsd#Inventories" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Derivatives" xlink:href="peix-20120930.xsd#Derivatives" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Debt" xlink:href="peix-20120930.xsd#Debt" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Warrants" xlink:href="peix-20120930.xsd#Warrants" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingencies" xlink:href="peix-20120930.xsd#CommitmentsAndContingencies" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurements" xlink:href="peix-20120930.xsd#FairValueMeasurements" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShare" xlink:href="peix-20120930.xsd#EarningsPerShare" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/RelatedPartyTransactions" xlink:href="peix-20120930.xsd#RelatedPartyTransactions" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/SubsequentEvent" xlink:href="peix-20120930.xsd#SubsequentEvent" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/PropertyAndEquipmentDec2011Only" xlink:href="peix-20120930.xsd#PropertyAndEquipmentDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/IntangibleAssetsDec2011Only" xlink:href="peix-20120930.xsd#IntangibleAssetsDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/AccountingForEmergenceFromBankruptcyDec2011Only" xlink:href="peix-20120930.xsd#AccountingForEmergenceFromBankruptcyDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/IncomeTaxesDec2011Only" xlink:href="peix-20120930.xsd#IncomeTaxesDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/PreferredStockDec2011Only" xlink:href="peix-20120930.xsd#PreferredStockDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/Stock-BasedCompensationDec2011Only" xlink:href="peix-20120930.xsd#Stock-BasedCompensationDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" xlink:href="peix-20120930.xsd#PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentationPolicies" xlink:href="peix-20120930.xsd#OrganizationAndBasisOfPresentationPolicies" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntityTables" xlink:href="peix-20120930.xsd#VariableInterestEntityTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/InventoriesTables" xlink:href="peix-20120930.xsd#InventoriesTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DerivativesTables" xlink:href="peix-20120930.xsd#DerivativesTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DebtTables" xlink:href="peix-20120930.xsd#DebtTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesTables" xlink:href="peix-20120930.xsd#CommitmentsAndContingenciesTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsTables" xlink:href="peix-20120930.xsd#FairValueMeasurementsTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShareTables" xlink:href="peix-20120930.xsd#EarningsPerShareTables" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/OrganizationAndBasisOfPresentationDetailsNarrative" xlink:href="peix-20120930.xsd#OrganizationAndBasisOfPresentationDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntityDetails" xlink:href="peix-20120930.xsd#VariableInterestEntityDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/VariableInterestEntityDetailsNarrative" xlink:href="peix-20120930.xsd#VariableInterestEntityDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/InventoriesDetails" xlink:href="peix-20120930.xsd#InventoriesDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DerivativesDetails" xlink:href="peix-20120930.xsd#DerivativesDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DerivativesDetailsNarrative" xlink:href="peix-20120930.xsd#DerivativesDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DebtDetails" xlink:href="peix-20120930.xsd#DebtDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/DebtDetailsNarrative" xlink:href="peix-20120930.xsd#DebtDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/WarrantsDetailsNarrative" xlink:href="peix-20120930.xsd#WarrantsDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesDetails" xlink:href="peix-20120930.xsd#CommitmentsAndContingenciesDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/CommitmentsAndContingenciesDetailsNarrative" xlink:href="peix-20120930.xsd#CommitmentsAndContingenciesDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails" xlink:href="peix-20120930.xsd#FairValueMeasurementsDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails2" xlink:href="peix-20120930.xsd#FairValueMeasurementsDetails2" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/FairValueMeasurementsDetails1" xlink:href="peix-20120930.xsd#FairValueMeasurementsDetails1" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShareDetails" xlink:href="peix-20120930.xsd#EarningsPerShareDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/EarningsPerShareDetailsNarrative" xlink:href="peix-20120930.xsd#EarningsPerShareDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://compsciresources.com/role/RelatedPartyTransactionsDetailsNarrative" xlink:href="peix-20120930.xsd#RelatedPartyTransactionsDetailsNarrative" xlink:type="simple" />
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DocumentAndEntityInformation" xlink:title="0001 - Document - Document and Entity Information">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DocumentAndEntityInformationAbstract" xlink:label="loc_peixDocumentAndEntityInformationAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_peixEntityRegistrantName" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixEntityRegistrantName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_peixEntityCentralIndexKey" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixEntityCentralIndexKey" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentType" xlink:label="loc_peixDocumentType" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixDocumentType" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_peixDocumentPeriodEndDate" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixDocumentPeriodEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_peixAmendmentFlag" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixAmendmentFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_peixCurrentFiscalYearEndDate" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixCurrentFiscalYearEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_peixEntityWellKnownSeasonedIssuer" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixEntityWellKnownSeasonedIssuer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_peixEntityVoluntaryFilers" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixEntityVoluntaryFilers" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_peixEntityCurrentReportingStatus" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixEntityCurrentReportingStatus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_peixEntityFilerCategory" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixEntityFilerCategory" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityPublicFloat" xlink:label="loc_peixEntityPublicFloat" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixEntityPublicFloat" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_peixEntityCommonStockSharesOutstanding" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixEntityCommonStockSharesOutstanding" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_peixDocumentFiscalPeriodFocus" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixDocumentFiscalPeriodFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_peixDocumentFiscalYearFocus" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDocumentAndEntityInformationAbstract" xlink:to="loc_peixDocumentFiscalYearFocus" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedBalanceSheets" xlink:title="0002 - Statement - CONSOLIDATED BALANCE SHEETS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_peixStatementOfFinancialPositionAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementOfFinancialPositionAbstract" xlink:to="loc_peixStatementTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_peixStatementClassOfStockAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementClassOfStockAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_peixClassOfStockDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementClassOfStockAxis" xlink:to="loc_peixClassOfStockDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesAPreferredStockMember" xlink:label="loc_peixSeriesAPreferredStockMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixClassOfStockDomain" xlink:to="loc_peixSeriesAPreferredStockMember" order="310" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesBPreferredStockMember" xlink:label="loc_peixSeriesBPreferredStockMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixClassOfStockDomain" xlink:to="loc_peixSeriesBPreferredStockMember" order="510" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="loc_peixAssetsCurrentAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixAssetsCurrentAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_peixCashAndCashEquivalentsAtCarryingValue" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAssetsCurrentAbstract" xlink:to="loc_peixCashAndCashEquivalentsAtCarryingValue" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_peixAccountsReceivableNetCurrent" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAssetsCurrentAbstract" xlink:to="loc_peixAccountsReceivableNetCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryNet" xlink:label="loc_peixInventoryNet" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAssetsCurrentAbstract" xlink:to="loc_peixInventoryNet" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherInventory" xlink:label="loc_peixOtherInventory" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAssetsCurrentAbstract" xlink:to="loc_peixOtherInventory" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="loc_peixOtherAssetsCurrent" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAssetsCurrentAbstract" xlink:to="loc_peixOtherAssetsCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_peixAssetsCurrent" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAssetsCurrentAbstract" xlink:to="loc_peixAssetsCurrent" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_peixPropertyPlantAndEquipmentNet" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAssetsCurrentAbstract" xlink:to="loc_peixPropertyPlantAndEquipmentNet" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsAbstract" xlink:label="loc_peixOtherAssetsAbstract" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAssetsCurrentAbstract" xlink:to="loc_peixOtherAssetsAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_peixIntangibleAssetsNetExcludingGoodwill" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOtherAssetsAbstract" xlink:to="loc_peixIntangibleAssetsNetExcludingGoodwill" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="loc_peixOtherAssetsNoncurrent" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOtherAssetsAbstract" xlink:to="loc_peixOtherAssetsNoncurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_peixOtherAssets" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOtherAssetsAbstract" xlink:to="loc_peixOtherAssets" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Assets" xlink:label="loc_peixAssets" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOtherAssetsAbstract" xlink:to="loc_peixAssets" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="loc_peixLiabilitiesCurrentAbstract" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOtherAssetsAbstract" xlink:to="loc_peixLiabilitiesCurrentAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="loc_peixAccountsPayableCurrent" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixAccountsPayableCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="loc_peixAccruedLiabilitiesCurrent" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixAccruedLiabilitiesCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableCurrent" xlink:label="loc_peixDividendsPayableCurrent" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixDividendsPayableCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="loc_peixLongTermDebtCurrent" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixLongTermDebtCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_peixLiabilitiesCurrent" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixLiabilitiesCurrent" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_peixLongTermDebtNoncurrent" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixLongTermDebtNoncurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAccruedLiabilitiesNoncurrent" xlink:label="loc_peixOtherAccruedLiabilitiesNoncurrent" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixOtherAccruedLiabilitiesNoncurrent" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantLiabilities" xlink:label="loc_peixWarrantLiabilities" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixWarrantLiabilities" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="loc_peixOtherLiabilitiesNoncurrent" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixOtherLiabilitiesNoncurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_peixLiabilities" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixLiabilities" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_peixCommitmentsAndContingencies" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixCommitmentsAndContingencies" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_peixLiabilitiesAndStockholdersEquityAbstract" />
      <link:presentationArc order="250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesCurrentAbstract" xlink:to="loc_peixLiabilitiesAndStockholdersEquityAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_peixStockholdersEquityAbstract" />
      <link:presentationArc order="260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesAndStockholdersEquityAbstract" xlink:to="loc_peixStockholdersEquityAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_peixPreferredStockValue" />
      <link:presentationArc order="270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStockholdersEquityAbstract" xlink:to="loc_peixPreferredStockValue" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_peixCommonStockValue" />
      <link:presentationArc order="280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStockholdersEquityAbstract" xlink:to="loc_peixCommonStockValue" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="loc_peixAdditionalPaidInCapital" />
      <link:presentationArc order="290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStockholdersEquityAbstract" xlink:to="loc_peixAdditionalPaidInCapital" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_peixRetainedEarningsAccumulatedDeficit" />
      <link:presentationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStockholdersEquityAbstract" xlink:to="loc_peixRetainedEarningsAccumulatedDeficit" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_peixStockholdersEquity" />
      <link:presentationArc order="310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStockholdersEquityAbstract" xlink:to="loc_peixStockholdersEquity" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterestInJointVentures" xlink:label="loc_peixMinorityInterestInJointVentures" />
      <link:presentationArc order="320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStockholdersEquityAbstract" xlink:to="loc_peixMinorityInterestInJointVentures" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
      <link:presentationArc order="330" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStockholdersEquityAbstract" xlink:to="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_peixLiabilitiesAndStockholdersEquity" />
      <link:presentationArc order="340" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStockholdersEquityAbstract" xlink:to="loc_peixLiabilitiesAndStockholdersEquity" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:title="0003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_peixStatementOfFinancialPositionAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementOfFinancialPositionAbstract" xlink:to="loc_peixStatementTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_peixStatementClassOfStockAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementClassOfStockAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_peixClassOfStockDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementClassOfStockAxis" xlink:to="loc_peixClassOfStockDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesAPreferredStockMember" xlink:label="loc_peixSeriesAPreferredStockMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixClassOfStockDomain" xlink:to="loc_peixSeriesAPreferredStockMember" order="310" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeriesBPreferredStockMember" xlink:label="loc_peixSeriesBPreferredStockMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixClassOfStockDomain" xlink:to="loc_peixSeriesBPreferredStockMember" order="610" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesPayableRelatedPartiesClassifiedCurrent" xlink:label="loc_peixNotesPayableRelatedPartiesClassifiedCurrent" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixNotesPayableRelatedPartiesClassifiedCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="loc_peixPreferredStockParOrStatedValuePerShare" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockParOrStatedValuePerShare" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="loc_peixPreferredStockSharesAuthorized" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockSharesAuthorized" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="loc_peixPreferredStockSharesIssued" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockSharesIssued" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="loc_peixPreferredStockSharesOutstanding" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockSharesOutstanding" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockLiquidationPreferenceValue" xlink:label="loc_peixPreferredStockLiquidationPreferenceValue" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPreferredStockLiquidationPreferenceValue" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_peixCommonStockParOrStatedValuePerShare" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixCommonStockParOrStatedValuePerShare" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_peixCommonStockSharesAuthorized" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixCommonStockSharesAuthorized" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_peixCommonStockSharesIssued" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixCommonStockSharesIssued" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_peixCommonStockSharesOutstanding" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixCommonStockSharesOutstanding" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedStatementsOfOperations" xlink:title="0004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_peixIncomeStatementAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SalesRevenueNet" xlink:label="loc_peixSalesRevenueNet" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixSalesRevenueNet" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfGoodsSold" xlink:label="loc_peixCostOfGoodsSold" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixCostOfGoodsSold" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GrossProfit" xlink:label="loc_peixGrossProfit" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixGrossProfit" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpense" xlink:label="loc_peixSellingGeneralAndAdministrativeExpense" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixSellingGeneralAndAdministrativeExpense" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_peixOperatingIncomeLoss" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixOperatingIncomeLoss" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:label="loc_peixFairValueAdjustmentsOnConvertibleDebtAndWarrants" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixFairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="loc_peixGainLossOnInvestments" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixGainLossOnInvestments" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_peixGainsLossesOnExtinguishmentOfDebt" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixGainsLossesOnExtinguishmentOfDebt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_peixInterestExpense" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixInterestExpense" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherGeneralExpense" xlink:label="loc_peixOtherGeneralExpense" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixOtherGeneralExpense" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixIncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReorganizationItems" xlink:label="loc_peixReorganizationItems" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixReorganizationItems" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:label="loc_peixDebtorReorganizationItemsDischargeOfClaimsAndLiabilities" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixDebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_peixIncomeTaxExpenseBenefit" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixIncomeTaxExpenseBenefit" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_peixProfitLoss" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixProfitLoss" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" xlink:label="loc_peixIncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixIncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_peixNetIncomeLoss" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixNetIncomeLoss" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPreferredStock" xlink:label="loc_peixDividendsPreferredStock" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixDividendsPreferredStock" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_peixNetIncomeLossAvailableToCommonStockholdersBasic" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixNetIncomeLossAvailableToCommonStockholdersBasic" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="loc_peixEarningsPerShareBasicAndDiluted" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixEarningsPerShareBasicAndDiluted" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_peixWeightedAverageNumberOfSharesOutstandingBasic" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixWeightedAverageNumberOfSharesOutstandingBasic" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_peixWeightedAverageNumberOfDilutedSharesOutstanding" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementAbstract" xlink:to="loc_peixWeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedStatementsOfCashFlows" xlink:title="0005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_peixStatementOfCashFlowsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_peixNetCashProvidedByUsedInOperatingActivitiesAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementOfCashFlowsAbstract" xlink:to="loc_peixNetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_peixProfitLoss" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="loc_peixProfitLoss" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:label="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_peixAmortizationOfIntangibleAssets" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixAmortizationOfIntangibleAssets" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:label="loc_peixFairValueAdjustmentsOnConvertibleDebtAndWarrants" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixFairValueAdjustmentsOnConvertibleDebtAndWarrants" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryWriteDown" xlink:label="loc_peixInventoryWriteDown" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixInventoryWriteDown" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="loc_peixUnrealizedGainLossOnDerivatives" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixUnrealizedGainLossOnDerivatives" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:label="loc_peixAmortizationOfFinancingCostsAndDiscounts" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixAmortizationOfFinancingCostsAndDiscounts" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherNoncashExpense" xlink:label="loc_peixOtherNoncashExpense" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixOtherNoncashExpense" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities" xlink:label="loc_peixIncreaseDecreaseInDerivativeAssetsAndLiabilities" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixIncreaseDecreaseInDerivativeAssetsAndLiabilities" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" xlink:label="loc_peixAllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixAllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_InterestOnConvertibleDebtPaidWithStock" xlink:label="loc_peixInterestOnConvertibleDebtPaidWithStock" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixInterestOnConvertibleDebtPaidWithStock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:label="loc_peixDebtorReorganizationItemsDischargeOfClaimsAndLiabilities" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixDebtorReorganizationItemsDischargeOfClaimsAndLiabilities" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="loc_peixGainLossOnInvestments" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixGainLossOnInvestments" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_peixGainsLossesOnExtinguishmentOfDebt" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixGainsLossesOnExtinguishmentOfDebt" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireInvestments" xlink:label="loc_peixPaymentsToAcquireInvestments" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixPaymentsToAcquireInvestments" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_peixIncomeLossFromEquityMethodInvestments" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixIncomeLossFromEquityMethodInvestments" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:label="loc_peixChangesInOperatingAssetsAndLiabilitiesAbstract" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract" xlink:to="loc_peixChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_peixIncreaseDecreaseInAccountsReceivable" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="loc_peixIncreaseDecreaseInAccountsReceivable" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="loc_peixIncreaseDecreaseInInventories" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="loc_peixIncreaseDecreaseInInventories" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="loc_peixIncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="loc_peixIncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:label="loc_peixIncreaseDecreaseInOtherCurrentAssets" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="loc_peixIncreaseDecreaseInOtherCurrentAssets" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_peixIncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="loc_peixIncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_peixNetCashProvidedByUsedInOperatingActivities" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="loc_peixNetCashProvidedByUsedInOperatingActivities" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates" xlink:label="loc_peixPaymentsToAcquireBusinessesAndInterestInAffiliates" />
      <link:presentationArc order="250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="loc_peixPaymentsToAcquireBusinessesAndInterestInAffiliates" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="loc_peixPaymentsToAcquirePropertyPlantAndEquipment" />
      <link:presentationArc order="260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="loc_peixPaymentsToAcquirePropertyPlantAndEquipment" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_peixPaymentsToAcquireBusinessesNetOfCashAcquired" />
      <link:presentationArc order="270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="loc_peixPaymentsToAcquireBusinessesNetOfCashAcquired" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments" xlink:label="loc_peixProceedsFromSaleMaturityAndCollectionsOfInvestments" />
      <link:presentationArc order="280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="loc_peixProceedsFromSaleMaturityAndCollectionsOfInvestments" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashDivestedFromDeconsolidation" xlink:label="loc_peixCashDivestedFromDeconsolidation" />
      <link:presentationArc order="290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="loc_peixCashDivestedFromDeconsolidation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NetCashImpactOfBankruptcyExit" xlink:label="loc_peixNetCashImpactOfBankruptcyExit" />
      <link:presentationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="loc_peixNetCashImpactOfBankruptcyExit" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_peixNetCashProvidedByUsedInInvestingActivities" />
      <link:presentationArc order="310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="loc_peixNetCashProvidedByUsedInInvestingActivities" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" />
      <link:presentationArc order="320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:label="loc_peixProceedsFromIssuanceOrSaleOfEquity" />
      <link:presentationArc order="330" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixProceedsFromIssuanceOrSaleOfEquity" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromOtherDebt" xlink:label="loc_peixProceedsFromOtherDebt" />
      <link:presentationArc order="340" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixProceedsFromOtherDebt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:label="loc_peixPaymentsOfDividendsPreferredStockAndPreferenceStock" />
      <link:presentationArc order="350" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixPaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromConvertibleDebt" xlink:label="loc_peixProceedsFromConvertibleDebt" />
      <link:presentationArc order="360" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixProceedsFromConvertibleDebt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="loc_peixRepaymentsOfNotesPayable" />
      <link:presentationArc order="370" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixRepaymentsOfNotesPayable" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDebtIssuanceCosts" xlink:label="loc_peixPaymentsOfDebtIssuanceCosts" />
      <link:presentationArc order="380" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixPaymentsOfDebtIssuanceCosts" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfOtherDebt" xlink:label="loc_peixProceedsFromRepaymentsOfOtherDebt" />
      <link:presentationArc order="390" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixProceedsFromRepaymentsOfOtherDebt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfRelatedPartyDebt" xlink:label="loc_peixRepaymentsOfRelatedPartyDebt" />
      <link:presentationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixRepaymentsOfRelatedPartyDebt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_peixNetCashProvidedByUsedInFinancingActivities" />
      <link:presentationArc order="410" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixNetCashProvidedByUsedInFinancingActivities" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_peixCashAndCashEquivalentsPeriodIncreaseDecrease" />
      <link:presentationArc order="420" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixCashAndCashEquivalentsPeriodIncreaseDecrease" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_peixCashAndCashEquivalentsAtCarryingValue" />
      <link:presentationArc order="430" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixCashAndCashEquivalentsAtCarryingValue" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_peixCashAndCashEquivalentsAtCarryingValue_2" />
      <link:presentationArc order="440" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixCashAndCashEquivalentsAtCarryingValue_2" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="loc_peixSupplementalCashFlowInformationAbstract" />
      <link:presentationArc order="450" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="loc_peixSupplementalCashFlowInformationAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="loc_peixInterestPaidNet" />
      <link:presentationArc order="460" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixSupplementalCashFlowInformationAbstract" xlink:to="loc_peixInterestPaidNet" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="loc_peixCashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" />
      <link:presentationArc order="470" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixSupplementalCashFlowInformationAbstract" xlink:to="loc_peixCashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueOther" xlink:label="loc_peixStockIssuedDuringPeriodValueOther" />
      <link:presentationArc order="480" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="loc_peixStockIssuedDuringPeriodValueOther" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity" xlink:label="loc_peixNotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity" />
      <link:presentationArc order="490" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="loc_peixNotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="loc_peixInterestCostsCapitalized" />
      <link:presentationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="loc_peixInterestCostsCapitalized" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PreferredStockDividendsAccrued" xlink:label="loc_peixPreferredStockDividendsAccrued" />
      <link:presentationArc order="510" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="loc_peixPreferredStockDividendsAccrued" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations" xlink:label="loc_peixStockIssuedDuringPeriodValueIssuedForNoncashConsiderations" />
      <link:presentationArc order="520" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="loc_peixStockIssuedDuringPeriodValueIssuedForNoncashConsiderations" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants" xlink:label="loc_peixReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants" />
      <link:presentationArc order="530" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="loc_peixReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:title="0006 - Statement - CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_peixStatementOfStockholdersEquityAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementOfStockholdersEquityAbstract" xlink:to="loc_peixStatementTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_peixStatementEquityComponentsAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementEquityComponentsAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_peixEquityComponentDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementEquityComponentsAxis" xlink:to="loc_peixEquityComponentDomain" order="510" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="loc_peixPreferredStockMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementEquityComponentsAxis" xlink:to="loc_peixPreferredStockMember" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_peixCommonStockMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementEquityComponentsAxis" xlink:to="loc_peixCommonStockMember" order="110" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_peixAdditionalPaidInCapitalMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementEquityComponentsAxis" xlink:to="loc_peixAdditionalPaidInCapitalMember" order="210" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_peixRetainedEarningsMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementEquityComponentsAxis" xlink:to="loc_peixRetainedEarningsMember" order="310" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_peixNoncontrollingInterestMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementEquityComponentsAxis" xlink:to="loc_peixNoncontrollingInterestMember" order="410" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharesIssued" xlink:label="loc_peixSharesIssued" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSharesIssued" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DeconsolidationOfFrontRange" xlink:label="loc_peixDeconsolidationOfFrontRange" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixDeconsolidationOfFrontRange" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConsolidationOfNewPEHoldco" xlink:label="loc_peixConsolidationOfNewPEHoldco" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixConsolidationOfNewPEHoldco" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="loc_peixStockIssuedDuringPeriodValueShareBasedCompensation" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodValueShareBasedCompensation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:label="loc_peixStockIssuedDuringPeriodSharesShareBasedCompensation" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodSharesShareBasedCompensation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConversionOfPreferredStockToCommonStock" xlink:label="loc_peixConversionOfPreferredStockToCommonStock" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixConversionOfPreferredStockToCommonStock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConversionOfPreferredStockToCommonStockShares" xlink:label="loc_peixConversionOfPreferredStockToCommonStockShares" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixConversionOfPreferredStockToCommonStockShares" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:label="loc_peixStockIssuedDuringPeriodValueConversionOfConvertibleSecurities" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:label="loc_peixStockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="loc_peixStockIssuedDuringPeriodValueNewIssues" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodValueNewIssues" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="loc_peixStockIssuedDuringPeriodSharesNewIssues" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodSharesNewIssues" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_StockIssuedWarrantExercises" xlink:label="loc_peixStockIssuedWarrantExercises" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedWarrantExercises" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SharesIssuedWarrantExercisesShares" xlink:label="loc_peixSharesIssuedWarrantExercisesShares" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSharesIssuedWarrantExercisesShares" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:label="loc_peixStockIssuedDuringPeriodValueAcquisitions" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodValueAcquisitions" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SharesIssuedInDebtExtinguishments" xlink:label="loc_peixSharesIssuedInDebtExtinguishments" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSharesIssuedInDebtExtinguishments" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesOther" xlink:label="loc_peixStockIssuedDuringPeriodSharesOther" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockIssuedDuringPeriodSharesOther" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPreferredStockStock" xlink:label="loc_peixDividendsPreferredStockStock" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixDividendsPreferredStockStock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_peixProfitLoss" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixProfitLoss" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SharesIssued" xlink:label="loc_peixSharesIssued_2" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSharesIssued_2" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/OrganizationAndBasisOfPresentation" xlink:title="0007 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OrganizationAndBasisOfPresentationAbstract" xlink:label="loc_peixOrganizationAndBasisOfPresentationAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:label="loc_peixBusinessDescriptionAndBasisOfPresentationTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationAndBasisOfPresentationAbstract" xlink:to="loc_peixBusinessDescriptionAndBasisOfPresentationTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntity" xlink:title="0008 - Disclosure - 2. VARIABLE INTEREST ENTITY">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VariableInterestEntityAbstract" xlink:label="loc_peixVariableInterestEntityAbstract" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VariableInterestEntityTextBlock" xlink:label="loc_peixVariableInterestEntityTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityAbstract" xlink:to="loc_peixVariableInterestEntityTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Inventories" xlink:title="0009 - Disclosure - 3. INVENTORIES">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_InventoriesAbstract" xlink:label="loc_peixInventoriesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" xlink:label="loc_peixInventoryDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixInventoriesAbstract" xlink:to="loc_peixInventoryDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Derivatives" xlink:title="0010 - Disclosure - 4. DERIVATIVES">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DerivativesAbstract" xlink:label="loc_peixDerivativesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="loc_peixDerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativesAbstract" xlink:to="loc_peixDerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Debt" xlink:title="0011 - Disclosure - 5. DEBT">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DebtAbstract" xlink:label="loc_peixDebtAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="loc_peixDebtDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDebtAbstract" xlink:to="loc_peixDebtDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Warrants" xlink:title="0012 - Disclosure - 6. COMMON STOCK AND WARRANTS">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommonStockAndWarrantsAbstract" xlink:label="loc_peixCommonStockAndWarrantsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="loc_peixStockholdersEquityNoteDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCommonStockAndWarrantsAbstract" xlink:to="loc_peixStockholdersEquityNoteDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingencies" xlink:title="0013 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommitmentsAndContingenciesAbstract" xlink:label="loc_peixCommitmentsAndContingenciesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_peixCommitmentsAndContingenciesDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCommitmentsAndContingenciesAbstract" xlink:to="loc_peixCommitmentsAndContingenciesDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurements" xlink:title="0014 - Disclosure - 8. FAIR VALUE MEASUREMENTS">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueMeasurementsAbstract" xlink:label="loc_peixFairValueMeasurementsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="loc_peixFairValueDisclosuresTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueMeasurementsAbstract" xlink:to="loc_peixFairValueDisclosuresTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShare" xlink:title="0015 - Disclosure - 9. EARNINGS PER SHARE">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_peixEarningsPerShareAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="loc_peixEarningsPerShareTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareAbstract" xlink:to="loc_peixEarningsPerShareTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/RelatedPartyTransactions" xlink:title="0016 - Disclosure - 10. RELATED PARTY TRANSACTIONS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_peixRelatedPartyTransactionsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="loc_peixRelatedPartyTransactionsDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixRelatedPartyTransactionsAbstract" xlink:to="loc_peixRelatedPartyTransactionsDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/SubsequentEvent" xlink:title="0017 - Disclosure - 11. SUBSEQUENT EVENT">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SubsequentEventAbstract" xlink:label="loc_peixSubsequentEventAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="loc_peixSubsequentEventsTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixSubsequentEventAbstract" xlink:to="loc_peixSubsequentEventsTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/PropertyAndEquipmentDec2011Only" xlink:title="0018 - Disclosure - 3. PROPERTY AND EQUIPMENT (Dec 2011 only)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="loc_peixPropertyPlantAndEquipmentAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="loc_peixPropertyPlantAndEquipmentDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixPropertyPlantAndEquipmentAbstract" xlink:to="loc_peixPropertyPlantAndEquipmentDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/IntangibleAssetsDec2011Only" xlink:title="0019 - Disclosure - 4. INTANGIBLE ASSETS (Dec 2011 only)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:label="loc_peixGoodwillAndIntangibleAssetsDisclosureAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:label="loc_peixIntangibleAssetsDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixGoodwillAndIntangibleAssetsDisclosureAbstract" xlink:to="loc_peixIntangibleAssetsDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/AccountingForEmergenceFromBankruptcyDec2011Only" xlink:title="0020 - Disclosure - 7. ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY (Dec 2011 only)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReorganizationsAbstract" xlink:label="loc_peixReorganizationsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock" xlink:label="loc_peixReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixReorganizationsAbstract" xlink:to="loc_peixReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/IncomeTaxesDec2011Only" xlink:title="0021 - Disclosure - 8. INCOME TAXES (Dec 2011 only)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_peixIncomeTaxDisclosureAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="loc_peixIncomeTaxDisclosureTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeTaxDisclosureAbstract" xlink:to="loc_peixIncomeTaxDisclosureTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/PreferredStockDec2011Only" xlink:title="0022 - Disclosure - 9. PREFERRED STOCK (Dec 2011 only)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityAbstract" xlink:label="loc_peixEquityAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockTextBlock" xlink:label="loc_peixPreferredStockTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEquityAbstract" xlink:to="loc_peixPreferredStockTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/Stock-BasedCompensationDec2011Only" xlink:title="0023 - Disclosure - 11. STOCK-BASED COMPENSATION (Dec 2011 only)">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_peixDisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="loc_peixDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="loc_peixDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/PlantOwnersCondensedCombinedFinancialStatementsDec2011Only" xlink:title="0024 - Disclosure - 15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NotesToFinancialStatementsAbstract" xlink:label="loc_peixNotesToFinancialStatementsAbstract" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock" xlink:label="loc_peixPartialCompanyFinancialInChapter11OrReorganizationTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNotesToFinancialStatementsAbstract" xlink:to="loc_peixPartialCompanyFinancialInChapter11OrReorganizationTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/OrganizationAndBasisOfPresentationPolicies" xlink:title="0025 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Policies)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OrganizationAndBasisOfPresentationPoliciesAbstract" xlink:label="loc_peixOrganizationAndBasisOfPresentationPoliciesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NatureOfOperations" xlink:label="loc_peixNatureOfOperations" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationAndBasisOfPresentationPoliciesAbstract" xlink:to="loc_peixNatureOfOperations" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiquidityDisclosureTextBlock" xlink:label="loc_peixLiquidityDisclosureTextBlock" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationAndBasisOfPresentationPoliciesAbstract" xlink:to="loc_peixLiquidityDisclosureTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="loc_peixOrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationAndBasisOfPresentationPoliciesAbstract" xlink:to="loc_peixOrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="loc_peixUseOfEstimates" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationAndBasisOfPresentationPoliciesAbstract" xlink:to="loc_peixUseOfEstimates" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Reclassifications" xlink:label="loc_peixReclassifications" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationAndBasisOfPresentationPoliciesAbstract" xlink:to="loc_peixReclassifications" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:label="loc_peixReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationAndBasisOfPresentationPoliciesAbstract" xlink:to="loc_peixReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntityTables" xlink:title="0026 - Disclosure - 2. VARIABLE INTEREST ENTITY (Tables)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VariableInterestEntityTablesAbstract" xlink:label="loc_peixVariableInterestEntityTablesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:label="loc_peixScheduleOfVariableInterestEntitiesTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityTablesAbstract" xlink:to="loc_peixScheduleOfVariableInterestEntitiesTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/InventoriesTables" xlink:title="0027 - Disclosure - 3. INVENTORIES (Tables)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_InventoriesTablesAbstract" xlink:label="loc_peixInventoriesTablesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:label="loc_peixScheduleOfInventoryCurrentTableTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixInventoriesTablesAbstract" xlink:to="loc_peixScheduleOfInventoryCurrentTableTextBlock" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DerivativesTables" xlink:title="0028 - Disclosure - 4. DERIVATIVES (Tables)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DerivativesTablesAbstract" xlink:label="loc_peixDerivativesTablesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:label="loc_peixScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativesTablesAbstract" xlink:to="loc_peixScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DebtTables" xlink:title="0029 - Disclosure - 5. DEBT (Tables)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DebtTablesAbstract" xlink:label="loc_peixDebtTablesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:label="loc_peixScheduleOfDebtInstrumentsTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDebtTablesAbstract" xlink:to="loc_peixScheduleOfDebtInstrumentsTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingenciesTables" xlink:title="0030 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Tables)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommitmentsAndContingenciesTablesAbstract" xlink:label="loc_peixCommitmentsAndContingenciesTablesAbstract" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentsTextBlock" xlink:label="loc_peixSalesCommitmentsTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCommitmentsAndContingenciesTablesAbstract" xlink:to="loc_peixSalesCommitmentsTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsTables" xlink:title="0031 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Tables)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueMeasurementsTablesAbstract" xlink:label="loc_peixFairValueMeasurementsTablesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:label="loc_peixFairValueByBalanceSheetGroupingTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueMeasurementsTablesAbstract" xlink:to="loc_peixFairValueByBalanceSheetGroupingTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:label="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueMeasurementsTablesAbstract" xlink:to="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:label="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueMeasurementsTablesAbstract" xlink:to="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShareTables" xlink:title="0032 - Disclosure - 9. EARNINGS PER SHARE (Tables)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EarningsPerShareTablesAbstract" xlink:label="loc_peixEarningsPerShareTablesAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock" xlink:label="loc_peixScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareTablesAbstract" xlink:to="loc_peixScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/OrganizationAndBasisOfPresentationDetailsNarrative" xlink:title="0033 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OrganizationAndBasisOfPresentationDetailsNarrativeAbstract" xlink:label="loc_peixOrganizationAndBasisOfPresentationDetailsNarrativeAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_peixOrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationAndBasisOfPresentationDetailsNarrativeAbstract" xlink:to="loc_peixOrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_LineOfCreditCollateralUsed" xlink:label="loc_peixLineOfCreditCollateralUsed" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="loc_peixLineOfCreditCollateralUsed" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:label="loc_peixAllowanceForDoubtfulAccountsReceivable" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="loc_peixAllowanceForDoubtfulAccountsReceivable" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" xlink:label="loc_peixAllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="loc_peixAllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts" xlink:type="arc" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntityDetails" xlink:title="0034 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VariableInterestEntityDetailsAbstract" xlink:label="loc_peixVariableInterestEntityDetailsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="loc_peixScheduleOfVariableInterestEntitiesTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityDetailsAbstract" xlink:to="loc_peixScheduleOfVariableInterestEntitiesTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="loc_peixVariableInterestEntityLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixScheduleOfVariableInterestEntitiesTable" xlink:to="loc_peixVariableInterestEntityLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:label="loc_peixVariableInterestEntitiesByClassificationOfEntityAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixScheduleOfVariableInterestEntitiesTable" xlink:to="loc_peixVariableInterestEntitiesByClassificationOfEntityAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="loc_peixClassificationOfVariableInterestEntityDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntitiesByClassificationOfEntityAxis" xlink:to="loc_peixClassificationOfVariableInterestEntityDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VIEBalanceSheetMember" xlink:label="loc_peixVIEBalanceSheetMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixClassificationOfVariableInterestEntityDomain" xlink:to="loc_peixVIEBalanceSheetMember" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:label="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityLineItems" xlink:to="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CashAndCashEquivalentsVIE" xlink:label="loc_peixCashAndCashEquivalentsVIE" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="loc_peixCashAndCashEquivalentsVIE" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OtherCurrentAssetsVIE" xlink:label="loc_peixOtherCurrentAssetsVIE" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="loc_peixOtherCurrentAssetsVIE" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PropertyAndEquipmentVIE" xlink:label="loc_peixPropertyAndEquipmentVIE" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="loc_peixPropertyAndEquipmentVIE" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OtherAssetsVIE" xlink:label="loc_peixOtherAssetsVIE" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="loc_peixOtherAssetsVIE" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_TotalAssetsVIE" xlink:label="loc_peixTotalAssetsVIE" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="loc_peixTotalAssetsVIE" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CurrentLiabilitiesVIE" xlink:label="loc_peixCurrentLiabilitiesVIE" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="loc_peixCurrentLiabilitiesVIE" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_LongAndShortTermDebt" xlink:label="loc_peixLongAndShortTermDebt" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="loc_peixLongAndShortTermDebt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_OtherLiabilitiesVIE" xlink:label="loc_peixOtherLiabilitiesVIE" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="loc_peixOtherLiabilitiesVIE" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_TotalLiabilitiesVIE" xlink:label="loc_peixTotalLiabilitiesVIE" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract" xlink:to="loc_peixTotalLiabilitiesVIE" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/VariableInterestEntityDetailsNarrative" xlink:title="0035 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_VariableInterestEntityDetailsNarrativeAbstract" xlink:label="loc_peixVariableInterestEntityDetailsNarrativeAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:label="loc_peixBusinessAcquisitionsProFormaNetIncomeLoss" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityDetailsNarrativeAbstract" xlink:to="loc_peixBusinessAcquisitionsProFormaNetIncomeLoss" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic" xlink:label="loc_peixBusinessAcquisitionProFormaEarningsPerShareBasic" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixVariableInterestEntityDetailsNarrativeAbstract" xlink:to="loc_peixBusinessAcquisitionProFormaEarningsPerShareBasic" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/InventoriesDetails" xlink:title="0036 - Disclosure - 3. INVENTORIES (Details)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_InventoriesDetailsAbstract" xlink:label="loc_peixInventoriesDetailsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryNetAbstract" xlink:label="loc_peixInventoryNetAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixInventoriesDetailsAbstract" xlink:to="loc_peixInventoryNetAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryFinishedGoods" xlink:label="loc_peixInventoryFinishedGoods" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixInventoryNetAbstract" xlink:to="loc_peixInventoryFinishedGoods" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryWorkInProcess" xlink:label="loc_peixInventoryWorkInProcess" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixInventoryNetAbstract" xlink:to="loc_peixInventoryWorkInProcess" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryRawMaterials" xlink:label="loc_peixInventoryRawMaterials" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixInventoryNetAbstract" xlink:to="loc_peixInventoryRawMaterials" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherInventorySupplies" xlink:label="loc_peixOtherInventorySupplies" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixInventoryNetAbstract" xlink:to="loc_peixOtherInventorySupplies" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InventoryNet" xlink:label="loc_peixInventoryNet" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixInventoryNetAbstract" xlink:to="loc_peixInventoryNet" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DerivativesDetails" xlink:title="0037 - Disclosure - 4. DERIVATIVES (Details)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DerivativesDetailsAbstract" xlink:label="loc_peixDerivativesDetailsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:label="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativesDetailsAbstract" xlink:to="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:label="loc_peixDerivativeInstrumentsGainLossLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="loc_peixDerivativeInstrumentsGainLossLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="loc_peixDerivativeInstrumentRiskAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="loc_peixDerivativeInstrumentRiskAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="loc_peixDerivativeContractTypeDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativeInstrumentRiskAxis" xlink:to="loc_peixDerivativeContractTypeDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommodityContractMember" xlink:label="loc_peixCommodityContractMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativeContractTypeDomain" xlink:to="loc_peixCommodityContractMember" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_HedgingDesignationAxis" xlink:label="loc_peixHedgingDesignationAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="loc_peixHedgingDesignationAxis" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_HedgingDesignationDomain" xlink:label="loc_peixHedgingDesignationDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixHedgingDesignationAxis" xlink:to="loc_peixHedgingDesignationDomain" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NondesignatedMember" xlink:label="loc_peixNondesignatedMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixHedgingDesignationDomain" xlink:to="loc_peixNondesignatedMember" order="3010" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_peixIncomeStatementLocationAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="loc_peixIncomeStatementLocationAxis" order="30" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_peixIncomeStatementLocationDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementLocationAxis" xlink:to="loc_peixIncomeStatementLocationDomain" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostOfSalesMember" xlink:label="loc_peixCostOfSalesMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixIncomeStatementLocationDomain" xlink:to="loc_peixCostOfSalesMember" order="6030" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract" xlink:label="loc_peixOtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativeInstrumentsGainLossLineItems" xlink:to="loc_peixOtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet" xlink:label="loc_peixDerivativeInstrumentsGainLossRecognizedInIncomeNet" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract" xlink:to="loc_peixDerivativeInstrumentsGainLossRecognizedInIncomeNet" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="loc_peixUnrealizedGainLossOnDerivatives" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixOtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract" xlink:to="loc_peixUnrealizedGainLossOnDerivatives" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DerivativesDetailsNarrative" xlink:title="0038 - Disclosure - 4. DERIVATIVES (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DerivativesDetailsNarrativeAbstract" xlink:label="loc_peixDerivativesDetailsNarrativeAbstract" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_AdditionalTextualsAbstract" xlink:label="loc_peixAdditionalTextualsAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDerivativesDetailsNarrativeAbstract" xlink:to="loc_peixAdditionalTextualsAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainRecognizedInIncome" xlink:label="loc_peixDerivativeInstrumentsGainRecognizedInIncome" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdditionalTextualsAbstract" xlink:to="loc_peixDerivativeInstrumentsGainRecognizedInIncome" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2012/invest-2012-01-31.xsd#invest_DerivativeNotionalAmount" xlink:label="loc_peixDerivativeNotionalAmount" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdditionalTextualsAbstract" xlink:to="loc_peixDerivativeNotionalAmount" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:label="loc_peixAccruedLiabilitiesCurrentAndNoncurrent" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdditionalTextualsAbstract" xlink:to="loc_peixAccruedLiabilitiesCurrentAndNoncurrent" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NonDesignatedDerivativeOtherAssets" xlink:label="loc_peixNonDesignatedDerivativeOtherAssets" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAdditionalTextualsAbstract" xlink:to="loc_peixNonDesignatedDerivativeOtherAssets" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DebtDetails" xlink:title="0039 - Disclosure - 5. DEBT (Details)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DebtDetailsAbstract" xlink:label="loc_peixDebtDetailsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtByComponentsAlternativeAbstract" xlink:label="loc_peixLongTermDebtByComponentsAlternativeAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDebtDetailsAbstract" xlink:to="loc_peixLongTermDebtByComponentsAlternativeAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_peixLineOfCredit" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLongTermDebtByComponentsAlternativeAbstract" xlink:to="loc_peixLineOfCredit" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SeniorNotes" xlink:label="loc_peixSeniorNotes" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLongTermDebtByComponentsAlternativeAbstract" xlink:to="loc_peixSeniorNotes" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="loc_peixNotesPayableRelatedPartiesCurrentAndNoncurrent" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLongTermDebtByComponentsAlternativeAbstract" xlink:to="loc_peixNotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MediumTermNotes" xlink:label="loc_peixMediumTermNotes" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLongTermDebtByComponentsAlternativeAbstract" xlink:to="loc_peixMediumTermNotes" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NewPeHoldcoOperatingLineOfCredit" xlink:label="loc_peixNewPeHoldcoOperatingLineOfCredit" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLongTermDebtByComponentsAlternativeAbstract" xlink:to="loc_peixNewPeHoldcoOperatingLineOfCredit" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_peixLongTermDebt" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLongTermDebtByComponentsAlternativeAbstract" xlink:to="loc_peixLongTermDebt" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShortTermBorrowings" xlink:label="loc_peixShortTermBorrowings" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLongTermDebtByComponentsAlternativeAbstract" xlink:to="loc_peixShortTermBorrowings" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_peixLongTermDebtNoncurrent" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLongTermDebtByComponentsAlternativeAbstract" xlink:to="loc_peixLongTermDebtNoncurrent" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/DebtDetailsNarrative" xlink:title="0040 - Disclosure - 5. DEBT (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_DebtDetailsNarrativeAbstract" xlink:label="loc_peixDebtDetailsNarrativeAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDebtDetailsNarrativeAbstract" xlink:to="loc_peixStatementTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_peixDebtInstrumentAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixDebtInstrumentAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_peixDebtInstrumentNameDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDebtInstrumentAxis" xlink:to="loc_peixDebtInstrumentNameDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_KinergyMember" xlink:label="loc_peixKinergyMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDebtInstrumentNameDomain" xlink:to="loc_peixKinergyMember" order="10" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PlantOwnersMember" xlink:label="loc_peixPlantOwnersMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixDebtInstrumentNameDomain" xlink:to="loc_peixPlantOwnersMember" order="110" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_RecordedInterestNotesPayableRelatedParty" xlink:label="loc_peixRecordedInterestNotesPayableRelatedParty" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixRecordedInterestNotesPayableRelatedParty" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:label="loc_peixLineOfCreditFacilityRemainingBorrowingCapacity" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixLineOfCreditFacilityRemainingBorrowingCapacity" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" xlink:label="loc_peixLineOfCreditFacilityIncreaseAdditionalBorrowings" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixLineOfCreditFacilityIncreaseAdditionalBorrowings" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/WarrantsDetailsNarrative" xlink:title="0041 - Disclosure - 6. COMMON STOCK AND WARRANTS (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NotesToFinancialStatementsAbstract" xlink:label="loc_peixNotesToFinancialStatementsAbstract" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis" xlink:label="loc_peixExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNotesToFinancialStatementsAbstract" xlink:to="loc_peixExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NetSharesOfCommonStockIssued" xlink:label="loc_peixNetSharesOfCommonStockIssued" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNotesToFinancialStatementsAbstract" xlink:to="loc_peixNetSharesOfCommonStockIssued" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="loc_peixStockIssuedDuringPeriodSharesStockOptionsExercised" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNotesToFinancialStatementsAbstract" xlink:to="loc_peixStockIssuedDuringPeriodSharesStockOptionsExercised" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="loc_peixStockIssuedDuringPeriodValueStockOptionsExercised" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNotesToFinancialStatementsAbstract" xlink:to="loc_peixStockIssuedDuringPeriodValueStockOptionsExercised" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingenciesDetails" xlink:title="0042 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommitmentsAndContingenciesDetailsAbstract" xlink:label="loc_peixCommitmentsAndContingenciesDetailsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCommitmentsAndContingenciesDetailsAbstract" xlink:to="loc_peixStatementTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentByCategoryOfItemAxis" xlink:label="loc_peixSalesCommitmentByCategoryOfItemAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixSalesCommitmentByCategoryOfItemAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_peixScenarioUnspecifiedDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixSalesCommitmentByCategoryOfItemAxis" xlink:to="loc_peixScenarioUnspecifiedDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EthanolMember" xlink:label="loc_peixEthanolMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixScenarioUnspecifiedDomain" xlink:to="loc_peixEthanolMember" order="10" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WetDistillersGrainMember" xlink:label="loc_peixWetDistillersGrainMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixScenarioUnspecifiedDomain" xlink:to="loc_peixWetDistillersGrainMember" order="110" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentsAbstract" xlink:label="loc_peixSalesCommitmentsAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSalesCommitmentsAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" xlink:label="loc_peixSalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/CommitmentsAndContingenciesDetailsNarrative" xlink:title="0043 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommitmentsAndContingenciesDetailsTextualsAbstract" xlink:label="loc_peixCommitmentsAndContingenciesDetailsTextualsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixCommitmentsAndContingenciesDetailsTextualsAbstract" xlink:to="loc_peixStatementTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SalesCommitmentByCategoryOfItemAxis" xlink:label="loc_peixSalesCommitmentByCategoryOfItemAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixSalesCommitmentByCategoryOfItemAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_peixScenarioUnspecifiedDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixSalesCommitmentByCategoryOfItemAxis" xlink:to="loc_peixScenarioUnspecifiedDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EthanolMember" xlink:label="loc_peixEthanolMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixScenarioUnspecifiedDomain" xlink:to="loc_peixEthanolMember" order="10" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_PurchaseCommitmentsAbstract" xlink:label="loc_peixPurchaseCommitmentsAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixPurchaseCommitmentsAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted" xlink:label="loc_peixSignificantPurchaseCommitmentRemainingMinimumAmountCommitted" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixSignificantPurchaseCommitmentRemainingMinimumAmountCommitted" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsDetails" xlink:title="0044 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueMeasurementsDetailsAbstract" xlink:label="loc_peixFairValueMeasurementsDetailsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_peixStatementTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueMeasurementsDetailsAbstract" xlink:to="loc_peixStatementTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_peixStatementLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixStatementLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="loc_peixFinancialInstrumentAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementTable" xlink:to="loc_peixFinancialInstrumentAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFinancialInstrumentAxis" xlink:to="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantsIssuedOctober2010Member" xlink:label="loc_peixWarrantsIssuedOctober2010Member" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrantsIssuedOctober2010Member" order="10" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantsIssuedDecember2011Member" xlink:label="loc_peixWarrantsIssuedDecember2011Member" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrantsIssuedDecember2011Member" order="210" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_Warrants1IssuedJuly2012Member" xlink:label="loc_peixWarrants1IssuedJuly2012Member" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrants1IssuedJuly2012Member" order="410" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_Warrants2IssuedJuly2012Member" xlink:label="loc_peixWarrants2IssuedJuly2012Member" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrants2IssuedJuly2012Member" order="610" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantsIssuedSeptember2012Member" xlink:label="loc_peixWarrantsIssuedSeptember2012Member" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrantsIssuedSeptember2012Member" order="810" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:label="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixStatementLineItems" xlink:to="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsExercisePrice" xlink:label="loc_peixFairValueAssumptionsExercisePrice" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:to="loc_peixFairValueAssumptionsExercisePrice" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsExpectedVolatilityRate" xlink:label="loc_peixFairValueAssumptionsExpectedVolatilityRate" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:to="loc_peixFairValueAssumptionsExpectedVolatilityRate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsRiskFreeInterestRate" xlink:label="loc_peixFairValueAssumptionsRiskFreeInterestRate" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:to="loc_peixFairValueAssumptionsRiskFreeInterestRate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssumptionsExpectedTerm" xlink:label="loc_peixFairValueAssumptionsExpectedTerm" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:to="loc_peixFairValueAssumptionsExpectedTerm" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueAssumptionsMarketabilityDiscount" xlink:label="loc_peixFairValueAssumptionsMarketabilityDiscount" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:to="loc_peixFairValueAssumptionsMarketabilityDiscount" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_WarrantLiabilities" xlink:label="loc_peixWarrantLiabilities" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract" xlink:to="loc_peixWarrantLiabilities" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsDetails2" xlink:title="0045 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 1)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NotesToFinancialStatementsAbstract" xlink:label="loc_peixNotesToFinancialStatementsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNotesToFinancialStatementsAbstract" xlink:to="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:label="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_peixFairValueByFairValueHierarchyLevelAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="loc_peixFairValueByFairValueHierarchyLevelAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_peixFairValueMeasurementsFairValueHierarchyDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_peixFairValueMeasurementsFairValueHierarchyDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_peixFairValueInputsLevel3Member" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_peixFairValueInputsLevel3Member" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" xlink:label="loc_peixFairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:label="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_2" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixFairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_2" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_JulyOffering" xlink:label="loc_peixJulyOffering" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixJulyOffering" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_SeptemberOffering" xlink:label="loc_peixSeptemberOffering" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="loc_peixSeptemberOffering" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/FairValueMeasurementsDetails1" xlink:title="0046 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 2)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_NotesToFinancialStatementsAbstract" xlink:label="loc_peixNotesToFinancialStatementsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixNotesToFinancialStatementsAbstract" xlink:to="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_peixFairValueByFairValueHierarchyLevelAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="loc_peixFairValueByFairValueHierarchyLevelAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_peixFairValueMeasurementsFairValueHierarchyDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueByFairValueHierarchyLevelAxis" xlink:to="loc_peixFairValueMeasurementsFairValueHierarchyDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_peixFairValueInputsLevel3Member" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_peixFairValueInputsLevel3Member" order="10" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_peixFairValueInputsLevel1Member" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_peixFairValueInputsLevel1Member" order="110" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_peixFairValueInputsLevel2Member" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueMeasurementsFairValueHierarchyDomain" xlink:to="loc_peixFairValueInputsLevel2Member" order="410" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="loc_peixFinancialInstrumentAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="loc_peixFinancialInstrumentAxis" order="20" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFinancialInstrumentAxis" xlink:to="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" order="10" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_CommodityContractsMember" xlink:label="loc_peixCommodityContractsMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixCommodityContractsMember" order="3210" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WarrantMember" xlink:label="loc_peixWarrantMember" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixTransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="loc_peixWarrantMember" order="3620" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" xlink:label="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="loc_peixLiabilitiesFairValueDisclosureAbstract" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" xlink:to="loc_peixLiabilitiesFairValueDisclosureAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="loc_peixLiabilitiesFairValueDisclosure" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixLiabilitiesFairValueDisclosureAbstract" xlink:to="loc_peixLiabilitiesFairValueDisclosure" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="loc_peixAssetsFairValueDisclosureAbstract" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixFairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisAbstract" xlink:to="loc_peixAssetsFairValueDisclosureAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="loc_peixAssetsFairValueDisclosure" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixAssetsFairValueDisclosureAbstract" xlink:to="loc_peixAssetsFairValueDisclosure" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShareDetails" xlink:title="0047 - Disclosure - 9. EARNINGS PER SHARE (Details)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EarningsPerShareDetailsAbstract" xlink:label="loc_peixEarningsPerShareDetailsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:label="loc_peixEarningsPerShareBasicAndDilutedAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareDetailsAbstract" xlink:to="loc_peixEarningsPerShareBasicAndDilutedAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_peixNetIncomeLoss" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareDetailsAbstract" xlink:to="loc_peixNetIncomeLoss" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockDividendsAndOtherAdjustments" xlink:label="loc_peixPreferredStockDividendsAndOtherAdjustments" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareDetailsAbstract" xlink:to="loc_peixPreferredStockDividendsAndOtherAdjustments" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract" xlink:label="loc_peixEarningsPerShareBasicAndDilutedOtherDisclosuresAbstract" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareDetailsAbstract" xlink:to="loc_peixEarningsPerShareBasicAndDilutedOtherDisclosuresAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:label="loc_peixNetIncomeLossAvailableToCommonStockholdersDiluted" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareBasicAndDilutedOtherDisclosuresAbstract" xlink:to="loc_peixNetIncomeLossAvailableToCommonStockholdersDiluted" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:label="loc_peixWeightedAverageNumberOfShareOutstandingBasicAndDiluted" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareBasicAndDilutedOtherDisclosuresAbstract" xlink:to="loc_peixWeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="loc_peixEarningsPerShareBasicAndDiluted" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareBasicAndDilutedOtherDisclosuresAbstract" xlink:to="loc_peixEarningsPerShareBasicAndDiluted" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/EarningsPerShareDetailsNarrative" xlink:title="0048 - Disclosure - 9. EARNINGS PER SHARE (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_EarningsPerShareDetailsTextualsAbstract" xlink:label="loc_peixEarningsPerShareDetailsTextualsAbstract" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DilutiveSecuritiesAbstract" xlink:label="loc_peixDilutiveSecuritiesAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareDetailsTextualsAbstract" xlink:to="loc_peixDilutiveSecuritiesAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare" xlink:label="loc_peixConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixEarningsPerShareDetailsTextualsAbstract" xlink:to="loc_peixConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare" xlink:type="arc" />
    </link:presentationLink>
    <link:presentationLink xlink:type="extended" xlink:role="http://compsciresources.com/role/RelatedPartyTransactionsDetailsNarrative" xlink:title="0049 - Disclosure - 10. RELATED PARTY TRANSACTIONS (Details Narrative)">
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_RelatedPartyTransactionsDetailsTextualsAbstract" xlink:label="loc_peixRelatedPartyTransactionsDetailsTextualsAbstract" />
      <link:loc xlink:type="locator" xlink:href="peix-20120930.xsd#peix_AdditionalRelatedPartiesAbstract" xlink:label="loc_peixAdditionalRelatedPartiesAbstract" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixRelatedPartyTransactionsDetailsTextualsAbstract" xlink:to="loc_peixAdditionalRelatedPartiesAbstract" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="loc_peixNotesPayableRelatedPartiesCurrentAndNoncurrent" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_peixRelatedPartyTransactionsDetailsTextualsAbstract" xlink:to="loc_peixNotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:type="arc" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" />
    </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E3CAE">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>5. DEBT (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByComponentsAlternativeAbstract', window );"><strong>Long-term borrowings are summarized as follows</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCredit', window );">Kinergy operating line of credit</a></td>
        <td class="nump">$ 17,158<span></span></td>
        <td class="nump">$ 20,432<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SeniorNotes', window );">Senior unsecured notes</a></td>
        <td class="nump">10,000<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Note payable to related party</a></td>
        <td class="nump">750<span></span></td>
        <td class="nump">750<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MediumTermNotes', window );">Plant Owner's term debt</a></td>
        <td class="nump">52,687<span></span></td>
        <td class="nump">51,279<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_NewPeHoldcoOperatingLineOfCredit', window );">Plant Owner's operating line of credit</a></td>
        <td class="nump">38,500<span></span></td>
        <td class="nump">21,978<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt, current and non-current</a></td>
        <td class="nump">119,095<span></span></td>
        <td class="nump">94,439<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBorrowings', window );">Less short-term portion</a></td>
        <td class="num">(50,105)<span></span></td>
        <td class="num">(750)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term debt</a></td>
        <td class="nump">$ 68,990<span></span></td>
        <td class="nump">$ 93,689<span></span></td>
        <td class="nump">$ 84,981<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_NewPeHoldcoOperatingLineOfCredit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>New PE Holdco Operating Line of Credit</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_NewPeHoldcoOperatingLineOfCredit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCredit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCredit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 9<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20, 22<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtByComponentsAlternativeAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtByComponentsAlternativeAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MediumTermNotes">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Including the current and noncurrent portions, carrying value at the balance sheet date of a financial instrument used to receive debt funding on a regular basis with original maturities ranging from 5-10 years.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20, 22<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MediumTermNotes</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount for notes payable (written promise to pay), due to related parties.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 57<br><br> -Paragraph 2<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.17)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 17<br><br> -Article 7<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 1<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SeniorNotes">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.16)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Article 9<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.16(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SeniorNotes</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermBorrowings">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.(a),16(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 16<br><br> -Subparagraph a(1)<br><br> -Article 7<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 13<br><br> -Subparagraph 2, 3<br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.13)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShortTermBorrowings</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EVE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>9. EARNINGS PER SHARE (Details Narrative)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_EarningsPerShareDetailsTextualsAbstract', window );"><strong>Earnings Per Share Details Narrative</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare', window );">Potentially dilutive weighted-average shares from convertible securities not considered in calculation of diluted shares</a></td>
        <td class="nump">3,300,000<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Convertible Securities Dilutive Shares Not Considered In Diluted Share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_ConvertibleSecuritiesDilutiveSharesNotConsideredInDilutedShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_EarningsPerShareDetailsTextualsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_EarningsPerShareDetailsTextualsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ETPAI">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>8. FAIR VALUE MEASUREMENTS (Details 2) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="nump">$ 6,786,000<span></span></td>
        <td class="nump">$ 2,421,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets</a></td>
        <td class="nump">514,000<span></span></td>
        <td class="nump">244,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Commodity Contracts [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="nump">291,000<span></span></td>
        <td class="nump">500,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets</a></td>
        <td class="nump">514,000<span></span></td>
        <td class="nump">244,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Warrants [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="nump">6,495,000<span></span></td>
        <td class="nump">1,921,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 3 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="nump">6,495,000<span></span></td>
        <td class="nump">1,921,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 3 [Member] | Commodity Contracts [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 3 [Member] | Warrants [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="nump">6,495,000<span></span></td>
        <td class="nump">1,921,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 1 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="nump">291,000<span></span></td>
        <td class="nump">500,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets</a></td>
        <td class="nump">514,000<span></span></td>
        <td class="nump">244,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 1 [Member] | Commodity Contracts [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="nump">291,000<span></span></td>
        <td class="nump">500,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets</a></td>
        <td class="nump">514,000<span></span></td>
        <td class="nump">244,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 1 [Member] | Warrants [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 2 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 2 [Member] | Commodity Contracts [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosure', window );">Assets</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 2 [Member] | Warrants [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosure', window );">Liabilities</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsFairValueDisclosure">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsFairValueDisclosure</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsFairValueDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsFairValueDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesFairValueDisclosure">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the aggregate of the liabilities reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesFairValueDisclosure</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesFairValueDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesFairValueDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EOBAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>1. ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="2">9 Months Ended</th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2011</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization and basis of Presentation</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_LineOfCreditCollateralUsed', window );">Line of credit collateral used</a></td>
        <td class="nump">$ 25,540,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 25,540,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 23,715,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivable', window );">Allowance for doubtful accounts</a></td>
        <td class="nump">9,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">9,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">24,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts', window );">Bad debt recovery</a></td>
        <td class="nump">$ 15,000<span></span></td>
        <td class="nump">$ 45,000<span></span></td>
        <td class="nump">$ 15,000<span></span></td>
        <td class="nump">$ 185,000<span></span></td>
        <td class="nump">$ 218,000<span></span></td>
        <td class="nump">$ 184,000<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_LineOfCreditCollateralUsed">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Line of credit collateral used</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_LineOfCreditCollateralUsed</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7512638&amp;loc=d3e5074-111524<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.10)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllowanceForDoubtfulAccountsReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reflects a reduction in bad debt expense attributable to collections of loans and lease receivables which had previously been fully or partially charged off as bad debts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 114<br><br> -Paragraph 20<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.7(d))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7512638&amp;loc=d3e5212-111524<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Subparagraph d<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	word-wrap: break-word;
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ESDAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>1. ORGANIZATION AND BASIS OF PRESENTATION (Policies)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_OrganizationAndBasisOfPresentationPoliciesAbstract', window );"><strong>Organization And Basis Of Presentation Policies</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfOperations', window );">Organization and Business</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Organization
and Business</u></i> &#150; The consolidated financial statements include the accounts of Pacific Ethanol, Inc., a Delaware corporation
(&#147;Pacific Ethanol&#148;), and its wholly-owned subsidiaries, including Kinergy Marketing LLC, an Oregon limited liability
company (&#147;Kinergy&#148;) and its wholly-owned subsidiary Pacific Ag. Products, LLC, a California limited liability company
(&#147;PAP&#148;) for all periods presented, and for the periods specified below, the Plant Owners (as defined below) (collectively,
the &#147;Company&#148;).</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">The
Company is the leading marketer and producer of low-carbon renewable fuels in the Western United States. The Company also sells
ethanol co-products, including wet distillers grain and syrup (&#147;WDG&#148;), and provides transportation, storage and delivery
of ethanol through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah,
Oregon, Colorado, Idaho and Washington. The Company sells ethanol produced by the Pacific Ethanol Plants (as defined below) and
unrelated third parties to gasoline refining and distribution companies and sells its WDG to dairy operators and animal feed distributors.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
manages the production and operation of the four ethanol production facilities, namely, Pacific Ethanol Madera LLC, Pacific Ethanol
Columbia, LLC, Pacific Ethanol Stockton, LLC and Pacific Ethanol Magic Valley, LLC (collectively, the &#147;Pacific Ethanol Plants&#148;)
and their holding company, Pacific Ethanol Holding Co. LLC (&#147;PEHC,&#148; and together with the Pacific Ethanol Plants,
the &#147;Plant Owners&#148;). PEHC is a wholly-owned subsidiary of New PE Holdco LLC (&#147;New PE Holdco&#148;) which, in
turn, is a subsidiary of the Company. These four facilities have an aggregate annual production capacity of up to 200 million
gallons. As of September 30, 2012, three of the facilities were operating and one of the facilities was idled. When market conditions
permit, and with approval of New PE Holdco, the Company intends to resume operations at the Madera, California facility.</font></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On October
6, 2010, the Company purchased an initial 20% ownership interest in New PE Holdco, a variable interest entity (&#147;VIE&#148;),
from a number of New PE Holdco&#146;s owners. At that time, the Company determined it was the primary beneficiary of New PE Holdco,
and as such, has consolidated the results of New PE Holdco since then. See Note 2 &#150; Variable Interest Entity. On each of
November 29, 2011 and December 19, 2011, the Company purchased an additional 7% ownership interest in New PE Holdco. Further,
on July 13, 2012, the Company purchased an additional 33% ownership interest in New PE Holdco, bringing the Company&#146;s total
ownership interest in New PE Holdco to 67% as of September 30, 2012.</font></p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiquidityDisclosureTextBlock', window );">Liquidity</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Liquidity
</u></i>&#150; Despite the liquidity risks relative to the Plant Owners&#146; credit facilities, the Company believes that current
and future available capital resources, revenues generated from operations, and other existing sources of liquidity, including
its credit facilities, will be adequate to meet its anticipated working capital and capital expenditure requirements for the next
twelve months. See Note 5 &#150; Debt. If, however, the Company&#146;s capital requirements or cash flow vary materially from
its current projections, or if other unforeseen circumstances occur, such as a lack of significant improvement or further deterioration
of corn crush margins, the Company may require additional financing during that period. The Company&#146;s failure to raise capital,
if needed, could restrict its growth, hinder its ability to compete and adversely impact its operations.</font></p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock', window );">Basis of Presentation-Interim Financial Statements</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Basis
of Presentation</u></i><u>&#150;<i>Interim Financial Statements</i></u><font style="font-family: Times New Roman, Times, Serif; color: black">
</font>&#150; The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance
with accounting principles generally accepted in the United States for interim financial information and the instructions to Form
10-Q and Rule&#160;10-01 of Regulation&#160;S-X. Results for interim periods should not be considered indicative of results for
a full year. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements
for the years ended December 31, 2011 and 2010 and related notes beginning on page F-20 of this prospectus. The accounting policies
used in preparing these consolidated financial statements are the same as those described in Note 1 to such consolidated financial
statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for
a fair statement of the results for interim periods have been included. All significant intercompany accounts and transactions
have been eliminated in consolidation.</font></p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Use
of Estimates</u></i> - The preparation of the consolidated financial statements in conformity with accounting principles generally
accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and 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 are required as part of determining the consolidation
of VIEs, fair value of convertible notes and warrants, allowance for doubtful accounts, estimated lives of property and equipment
and intangibles, long-lived asset impairments, valuation allowances on deferred income taxes and the potential outcome of future
tax consequences of events recognized in the Company&#146;s financial statements or tax returns. Actual results and outcomes
may materially differ from management&#146;s estimates and assumptions.</font></p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Reclassifications', window );">Reclassifications</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Reclassification
</u></i>- Reclassifications of prior year&#146;s data have been made to conform to 2012 classifications. Such classifications
had no effect on net income (loss) reported in the consolidated statements of operations.</font></p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy', window );">Accounts Receivable and Allowance for Doubtful Accounts</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Accounts
Receivable and Allowance for Doubtful Accounts</u></i> &#150; Trade accounts receivable are presented at face value, net of the
allowance for doubtful accounts. The Company sells ethanol to gasoline refining and distribution companies and sells WDG to dairy
operators and animal feed distributors generally without requiring collateral.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process
is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified
number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance
in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has
been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and
the Company&#146;s success in contacting and negotiating with the customer. If the financial condition of the Company&#146;s
customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Of the total
accounts receivable balance, approximately $25,540,000 and $23,715,000 at September 30, 2012 and December 31, 2011, respectively,
were used as collateral under Kinergy&#146;s working capital line of credit. The allowance for doubtful accounts was $9,000 and
$24,000 as of September 30, 2012 and December 31, 2011, respectively. The Company recorded net bad debt recoveries of $15,000
and $185,000 for the nine months ended September 30, 2012 and 2011, respectively.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_OrganizationAndBasisOfPresentationPoliciesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_OrganizationAndBasisOfPresentationPoliciesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiquidityDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for reporting when there is a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time (generally a year from the balance sheet date). Disclose: (a) pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time, (b) the possible effects of such conditions and events, (c) management's evaluation of the significance of those conditions and events and any mitigating factors, (d) possible discontinuance of operations, (e) management's plans (including relevant prospective financial information), and (f) information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. If management's plans alleviate the substantial doubt about the entity's ability to continue as a going concern, disclosure of the principal conditions and events that initially raised the substantial doubt about the entity's ability to continue as a going concern would be expected to be considered. Disclose whether operations for the current or prior years generated sufficient cash to cover current obligations, whether waivers were obtained from creditors relating to the company's default under the provisions of debt agreements and possible effects of such conditions and events, such as: whether there is a possible need to obtain additional financing (debt or equity) or to liquidate certain holdings to offset future cash flow deficiencies. Disclose appropriate parent company information when parent is dependent upon remittances from subsidiaries to satisfy its obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiquidityDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6003-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 94-6<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NatureOfOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6359566&amp;loc=d3e326-107755<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2209116<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2122150<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7668296&amp;loc=d3e288-107754<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2134480<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 720<br><br> -SubTopic 15<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2122524<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Staff Position (FSP)<br><br> -Number FAS140-4/FIN46(R)-8<br><br> -Paragraph 8, C1, C7<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2197480<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 94-6<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 46R<br><br> -Paragraph 4, 14, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 272<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6373374&amp;loc=d3e70478-108055<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7880789&amp;loc=SL6228881-111685<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 2-6<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 915<br><br> -SubTopic 235<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6472506&amp;loc=d3e38932-110933<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Describes how an entity determines the level of its allowance for doubtful accounts for its trade and other accounts receivable balances, and when impairments, charge-offs or recoveries are recognized. The description identifies the factors that influence management's establishment of the level of the allowance (for example, historical losses and existing economic conditions) and may also include discussion of the risk elements relevant to particular categories of receivables.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 01-6<br><br> -Paragraph 13<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7512638&amp;loc=d3e5144-111524<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Reclassifications">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for classifying current financial statements, which may be different from classifications in the prior year's financial statements. Disclose any material changes in classification including an explanation of the reason for the change and the areas impacted.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6359566&amp;loc=d3e326-107755<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Section A<br><br> -Paragraph 2<br><br> -Chapter 2<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Reclassifications</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UseOfEstimates">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 94-6<br><br> -Paragraph 11, 14<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6143-108592<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6132-108592<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6061-108592<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_UseOfEstimates</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R42.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E4GAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>7. COMMITMENTS AND CONTINGENCIES (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts', window );">Sales commitments amount, fixed price contracts</a></td>
        <td class="nump">$ 591<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">EthanolMember</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts', window );">Sales commitments amount, fixed price contracts</a></td>
        <td class="nump">70<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">WetDistillersGrainMember</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts', window );">Sales commitments amount, fixed price contracts</a></td>
        <td class="nump">$ 521<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sales Commitment Remaining Minimum Amount Committed Fixed Price Contracts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_SalesCommitmentRemainingMinimumAmountCommittedFixedPriceContracts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>26
<FILENAME>R37.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EOKAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>4. DERIVATIVES (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
        <th class="th" colspan="2">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012

</div>
          <div>Commodity contracts [Member]

</div>
          <div>Non Designated Derivative Instruments [Member]

</div>
          <div>Cost of goods sold [Member]</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2011

</div>
          <div>Commodity contracts [Member]

</div>
          <div>Non Designated Derivative Instruments [Member]

</div>
          <div>Cost of goods sold [Member]</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract', window );"><strong>Classification and amounts of the Company's derivatives not designated as hedging instruments</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet', window );">Realized Gains (Losses)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 277<span></span></td>
        <td class="nump">$ 460<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivatives', window );">Unrealized Gains</a></td>
        <td class="num">$ (96)<span></span></td>
        <td class="num">$ (1,049)<span></span></td>
        <td class="num">$ (479)<span></span></td>
        <td class="num">$ (126)<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4C<br><br> -Subparagraph (a),(c),(d),(e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5624171-113959<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 205G<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 44C<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4A<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5618551-113959<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsAtFairValueNetTotalAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnDerivatives">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_UnrealizedGainLossOnDerivatives</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E6FAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>9. EARNINGS PER SHARE (Details) (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">9 Months Ended</th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_EarningsPerShareDetailsAbstract', window );"><strong>Earnings Per Share Details</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss/Income</a></td>
        <td class="num">$ (13,553)<span></span></td>
        <td class="nump">$ 5,120<span></span></td>
        <td class="nump">$ 3,074<span></span></td>
        <td class="nump">$ 73,892<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendsAndOtherAdjustments', window );">Less: Preferred stock dividends</a></td>
        <td class="num">(949)<span></span></td>
        <td class="num">(946)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract', window );"><strong>Basic and diluted loss per share:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted', window );">Loss/Income available to common stockholders</a></td>
        <td class="num">$ (14,502)<span></span></td>
        <td class="nump">$ 4,174<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Basic and diluted, shares</a></td>
        <td class="nump">96,203<span></span></td>
        <td class="nump">21,328<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Basic and diluted, per share</a></td>
        <td class="num">$ (0.15)<span></span></td>
        <td class="nump">$ 0.2<span></span></td>
        <td class="nump">$ 0.05<span></span></td>
        <td class="nump">$ 6.76<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_EarningsPerShareDetailsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_EarningsPerShareDetailsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=d3e565-108580<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net Income or Loss Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 11, 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockDividendsAndOtherAdjustments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockDividendsAndOtherAdjustments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R9.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>3. INVENTORIES<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_InventoriesAbstract', window );"><strong>InventoriesAbstract</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">3. INVENTORIES</a></td>
        <td class="text"><p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Inventories consisted
primarily of bulk ethanol and unleaded fuel, and are valued at the lower-of-cost-or-market, with cost determined on a first-in,
first-out basis. Inventory balances consisted of the following (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</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; font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">September
    30, 2012</font></td>
    <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">December
    31, 2011</font></td>
    <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif">
    <td style="width: 60%; text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Finished goods</font></td>
    <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">8,089</font></td>
    <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">9,429</font></td>
    <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</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-size: 8pt">Work in progress</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">4,164</font></td>
    <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">4,284</font></td>
    <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif">
    <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Raw materials</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">1,273</font></td>
    <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">1,334</font></td>
    <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</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-size: 8pt">Other</font></td>
    <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">848</font></td>
    <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">1,084</font></td>
    <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif">
    <td style="padding-bottom: 2.5pt; padding-left: 22pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">14,374</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">16,131</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt; background-color: white">&#160;</font></p>



<p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif"></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_InventoriesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_InventoriesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a, b, c<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Section A<br><br> -Paragraph 9<br><br> -Chapter 3<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>29
<FILENAME>Financial_Report.xls
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xls
M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O
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M<B!E9&ET;W(@9&]E<VXG="!S=7!P;W)T(%=E8B!!<F-H:79E(&9I;&5S+B`@
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M;V9T+6-O;3IO9F9I8V4Z97AC96PB('AM;&YS/3-$(FAT='`Z+R]W=W<N=S,N
M;W)G+U12+U)%0RUH=&UL-#`B/@T*/&AE860^#0H\;65T82!N86UE/3-$(D5X
M8V5L(%=O<FMB;V]K($9R86UE<V5T(CX-"@T*/&UE=&$@;F%M93TS1%!R;V=)
M9"!C;VYT96YT/3-$17AC96PN4VAE970^#0H\;&EN:R!R96P],T1&:6QE+4QI
M<W0@:')E9CTS1")7;W)K<VAE971S+V9I;&5L:7-T+GAM;"(^#0H-"CPA+2U;
M:68@9W1E(&US;R`Y73X\>&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX
M.D5X8V5L5V]R:W-H965T<SX-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@
M(#QX.DYA;64^1&]C=6UE;G1?86YD7T5N=&ET>5]);F9O<FUA=&EO/"]X.DYA
M;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T
M<R]3:&5E=#`Q+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@
M(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^0T].4T],241!5$5$
M7T)!3$%.0T5?4TA%1513/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U
M<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#`R+FAT;6PB+SX-"B`@(#PO
M>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@
M(#QX.DYA;64^0T].4T],241!5$5$7T)!3$%.0T5?4TA%15137U!A/"]X.DYA
M;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T
M<R]3:&5E=#`S+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@
M(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^0T].4T],241!5$5$
M7U-4051%345.5%-?3T9?3U!%/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T
M4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#`T+FAT;6PB+SX-"B`@
M(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*
M("`@(#QX.DYA;64^0T].4T],241!5$5$7U-4051%345.5%-?3T9?0T%3/"]X
M.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H
M965T<R]3:&5E=#`U+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-
M"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^0T].4T],241!
M5$5$7U-4051%345.5%-?3T9?4U1//"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H
M965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#`V+FAT;6PB+SX-
M"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T
M/@T*("`@(#QX.DYA;64^,5]/4D=!3DE:051)3TY?04Y$7T)!4TE37T]&7U!2
M/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R
M:W-H965T<R]3:&5E=#`W+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E
M=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^,E]605))
M04),15])3E1%4D535%]%3E1)5%D\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE
M9713;W5R8V4@2%)E9CTS1")7;W)K<VAE971S+U-H965T,#@N:'1M;"(O/@T*
M("`@/"]X.D5X8V5L5V]R:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^
M#0H@("`@/'@Z3F%M93XS7TE.5D5.5$]22453/"]X.DYA;64^#0H@("`@/'@Z
M5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#`Y+FAT
M;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R
M:W-H965T/@T*("`@(#QX.DYA;64^-%]$15))5D%4259%4SPO>#I.86UE/@T*
M("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE
M970Q,"YH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%
M>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/C5?1$5"5#PO>#I.86UE/@T*
M("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE
M970Q,2YH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%
M>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/C9?0T]-34].7U-43T-+7T%.
M1%]705)204Y44SPO>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(
M4F5F/3-$(E=O<FMS:&5E=',O4VAE970Q,BYH=&UL(B\^#0H@("`\+W@Z17AC
M96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.
M86UE/C=?0T]-34E4345.5%-?04Y$7T-/3E1)3D=%3D-)13PO>#I.86UE/@T*
M("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE
M970Q,RYH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%
M>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/CA?1D%)4E]604Q515]-14%3
M55)%345.5%,\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E
M9CTS1")7;W)K<VAE971S+U-H965T,30N:'1M;"(O/@T*("`@/"]X.D5X8V5L
M5V]R:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M
M93XY7T5!4DY)3D=37U!%4E]32$%213PO>#I.86UE/@T*("`@(#QX.E=O<FMS
M:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970Q-2YH=&UL(B\^
M#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E
M=#X-"B`@("`\>#I.86UE/C$P7U)%3$%4141?4$%25%E?5%)!3E-!0U1)3TY3
M/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R
M:W-H965T<R]3:&5E=#$V+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E
M=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^,3%?4U5"
M4T51545.5%]%5D5.5#PO>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C
M92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970Q-RYH=&UL(B\^#0H@("`\+W@Z
M17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\
M>#I.86UE/C-?4%)/4$525%E?04Y$7T5154E0345.5%]$96-?,CPO>#I.86UE
M/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O
M4VAE970Q."YH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\
M>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/C1?24Y404Y'24),15]!
M4U-%5%-?1&5C7S(P,3%?;SPO>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O
M=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970Q.2YH=&UL(B\^#0H@("`\
M+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@
M("`\>#I.86UE/C=?04-#3U5.5$E.1U]&3U)?14U%4D=%3D-%7T923SPO>#I.
M86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E
M=',O4VAE970R,"YH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@
M("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/CA?24Y#3TU%7U1!
M6$537T1E8U\R,#$Q7V]N;'D\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713
M;W5R8V4@2%)E9CTS1")7;W)K<VAE971S+U-H965T,C$N:'1M;"(O/@T*("`@
M/"]X.D5X8V5L5V]R:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@
M("`@/'@Z3F%M93XY7U!2149%4E)%1%]35$]#2U]$96-?,C`Q,5]O;FP\+W@Z
M3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7;W)K<VAE
M971S+U-H965T,C(N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H965T/@T*
M("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93XQ,5]35$]#2T)!
M4T5$7T-/35!%3E-!5$E/3E]$96,\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE
M9713;W5R8V4@2%)E9CTS1")7;W)K<VAE971S+U-H965T,C,N:'1M;"(O/@T*
M("`@/"]X.D5X8V5L5V]R:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^
M#0H@("`@/'@Z3F%M93XQ-5]03$%.5%]/5TY%4E-?0T].1$5.4T5$7T-/34(\
M+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7;W)K
M<VAE971S+U-H965T,C0N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H965T
M/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93XQ7T]21T%.
M25I!5$E/3E]!3D1?0D%325-?3T9?4%(Q/"]X.DYA;64^#0H@("`@/'@Z5V]R
M:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#(U+FAT;6PB
M+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H
M965T/@T*("`@(#QX.DYA;64^,E]605))04),15])3E1%4D535%]%3E1)5%E?
M5&%B/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B
M5V]R:W-H965T<R]3:&5E=#(V+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS
M:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^,U])
M3E9%3E1/4DE%4U]486)L97,\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713
M;W5R8V4@2%)E9CTS1")7;W)K<VAE971S+U-H965T,C<N:'1M;"(O/@T*("`@
M/"]X.D5X8V5L5V]R:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@
M("`@/'@Z3F%M93XT7T1%4DE6051)5D537U1A8FQE<SPO>#I.86UE/@T*("`@
M(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970R
M."YH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E
M;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/C5?1$5"5%]486)L97,\+W@Z3F%M
M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7;W)K<VAE971S
M+U-H965T,CDN:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H965T/@T*("`@
M/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93XW7T-/34U)5$U%3E13
M7T%.1%]#3TY424Y'14Y#244Q/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T
M4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#,P+FAT;6PB+SX-"B`@
M(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*
M("`@(#QX.DYA;64^.%]&04E27U9!3%5%7TU%05-54D5-14Y44U]486)L/"]X
M.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H
M965T<R]3:&5E=#,Q+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-
M"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^.5]%05).24Y'
M4U]015)?4TA!4D5?5&%B;&5S/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T
M4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#,R+FAT;6PB+SX-"B`@
M(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*
M("`@(#QX.DYA;64^,5]/4D=!3DE:051)3TY?04Y$7T)!4TE37T]&7U!2,CPO
M>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS
M:&5E=',O4VAE970S,RYH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^
M#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/C)?5D%224%"
M3$5?24Y415)%4U1?14Y425197T1E=#PO>#I.86UE/@T*("`@(#QX.E=O<FMS
M:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970S-"YH=&UL(B\^
M#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E
M=#X-"B`@("`\>#I.86UE/C)?5D%224%"3$5?24Y415)%4U1?14Y425197T1E
M=#$\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7
M;W)K<VAE971S+U-H965T,S4N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H
M965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93XS7TE.
M5D5.5$]224537T1E=&%I;',\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713
M;W5R8V4@2%)E9CTS1")7;W)K<VAE971S+U-H965T,S8N:'1M;"(O/@T*("`@
M/"]X.D5X8V5L5V]R:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@
M("`@/'@Z3F%M93XT7T1%4DE6051)5D537T1E=&%I;',\+W@Z3F%M93X-"B`@
M("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7;W)K<VAE971S+U-H965T
M,S<N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H965T/@T*("`@/'@Z17AC
M96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93XT7T1%4DE6051)5D537T1E=&%I
M;'-?3F%R<F%T:78\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@
M2%)E9CTS1")7;W)K<VAE971S+U-H965T,S@N:'1M;"(O/@T*("`@/"]X.D5X
M8V5L5V]R:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z
M3F%M93XU7T1%0E1?1&5T86EL<SPO>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E
M=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970S.2YH=&UL(B\^#0H@
M("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-
M"B`@("`\>#I.86UE/C5?1$5"5%]$971A:6QS7TYA<G)A=&EV93PO>#I.86UE
M/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O
M4VAE970T,"YH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\
M>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/C9?0T]-34].7U-43T-+
M7T%.1%]705)204Y44U]$93PO>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O
M=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970T,2YH=&UL(B\^#0H@("`\
M+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@
M("`\>#I.86UE/C=?0T]-34E4345.5%-?04Y$7T-/3E1)3D=%3D-)13(\+W@Z
M3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7;W)K<VAE
M971S+U-H965T-#(N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H965T/@T*
M("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93XW7T-/34U)5$U%
M3E137T%.1%]#3TY424Y'14Y#244S/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H
M965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#0S+FAT;6PB+SX-
M"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T
M/@T*("`@(#QX.DYA;64^.%]&04E27U9!3%5%7TU%05-54D5-14Y44U]$971A
M/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R
M:W-H965T<R]3:&5E=#0T+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E
M=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^.%]&04E2
M7U9!3%5%7TU%05-54D5-14Y44U]$971A,3PO>#I.86UE/@T*("`@(#QX.E=O
M<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970T-2YH=&UL
M(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS
M:&5E=#X-"B`@("`\>#I.86UE/CA?1D%)4E]604Q515]-14%355)%345.5%-?
M1&5T83(\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS
M1")7;W)K<VAE971S+U-H965T-#8N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R
M:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93XY
M7T5!4DY)3D=37U!%4E]32$%215]$971A:6QS/"]X.DYA;64^#0H@("`@/'@Z
M5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#0W+FAT
M;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R
M:W-H965T/@T*("`@(#QX.DYA;64^.5]%05).24Y'4U]015)?4TA!4D5?1&5T
M86EL<U]./"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968]
M,T0B5V]R:W-H965T<R]3:&5E=#0X+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O
M<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^
M,3!?4D5,051%1%]005)465]44D%.4T%#5$E/3E-?/"]X.DYA;64^#0H@("`@
M/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#0Y
M+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@/"]X.D5X8V5L
M5V]R:W-H965T<SX-"B`@/'@Z4W1Y;&5S:&5E="!(4F5F/3-$(E=O<FMS:&5E
M=',O<F5P;W)T+F-S<R(O/@T*("`\>#I!8W1I=F53:&5E=#XP/"]X.D%C=&EV
M95-H965T/@T*("`\>#I0<F]T96-T4W1R=6-T=7)E/D9A;'-E/"]X.E!R;W1E
M8W13=')U8W1U<F4^#0H@(#QX.E!R;W1E8W17:6YD;W=S/D9A;'-E/"]X.E!R
M;W1E8W17:6YD;W=S/@T*(#PO>#I%>&-E;%=O<FMB;V]K/@T*/"]X;6P^/"%;
M96YD:69=+2T^#0H\+VAE860^#0H@(#QB;V1Y/@T*("`@/'`^5&AI<R!P86=E
M('-H;W5L9"!B92!O<&5N960@=VET:"!-:6-R;W-O9G0@17AC96P@6%`@;W(@
M;F5W97(N/"]P/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X
M=%!A<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#
M;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U
M.5\Y.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T,#$N:'1M;`T*
M0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*
M0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*
M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O
M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M
M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N
M:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\
M+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I
M9#TS1$E$,$5/14%%/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,]
M,T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/D1O8W5M96YT
M(&%N9"!%;G1I='D@26YF;W)M871I;VX\8G(^/"]S=')O;F<^/"]T:#X-"B`@
M("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^.2!-;VYT:',@16YD
M960\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,3X\
M+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CX\+W1H/@T*("`@("`@("`\=&@@
M8VQA<W,],T1T:#Y.;W8N(#$S+"`R,#$R/&)R/CPO=&@^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/D1O8W5M96YT($%N9"!%;G1I='D@
M26YF;W)M871I;VX\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^16YT:71Y(%)E9VES=')A;G0@3F%M93PO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^4&%C:69I8R!%=&AA;F]L+"!);F,N/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%;G1I
M='D@0V5N=')A;"!);F1E>"!+97D\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/C`P,#`W-S@Q-C0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/D1O8W5M96YT(%1Y<&4\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/E,M,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^1&]C=6UE;G0@4&5R:6]D($5N9"!$
M871E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#Y397`@,S`L#0H)
M"3(P,3(\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/D%M96YD;65N="!&;&%G/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#YF86QS93QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^0W5R<F5N="!&:7-C86P@665A<B!%;F0@1&%T93PO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^+2TQ,BTS,3QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^27,@16YT
M:71Y(&$@5V5L;"UK;F]W;B!396%S;VYE9"!)<W-U97(_/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#Y.;SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^27,@16YT:71Y(&$@5F]L=6YT87)Y
M($9I;&5R/SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^3F\\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DES
M($5N=&ET>2=S(%)E<&]R=&EN9R!3=&%T=7,@0W5R<F5N=#\\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/EEE<SQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^16YT:71Y($9I;&5R($-A=&5G
M;W)Y/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#Y3;6%L;&5R(%)E
M<&]R=&EN9R!#;VUP86YY/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y%;G1I='D@0V]M;6]N(%-T;V-K+"!3:&%R97,@
M3W5T<W1A;F1I;F<\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$T
M-"PV-S(L-#`V/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y$;V-U;65N="!&:7-C86P@665A<B!&;V-U<SPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'1E>'0^,C`Q,CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT
M;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY
M,CA?,3DY-&-D.3AC.30Q#0I#;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z
M+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE
M971S+U-H965T,#(N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@
M<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H
M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%
M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O
M:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A
M<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O
M;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L
M92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$5)5T)'/@T*("`@("`@/'1R/@T*
M("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$
M,3X\<W1R;VYG/D-/3E-/3$E$051%1"!"04Q!3D-%(%-(14544R`H55-$("0I
M/&)R/DEN(%1H;W5S86YD<RP@=6YL97-S(&]T:&5R=VES92!S<&5C:69I960\
M+W-T<F]N9SX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y397`N(#,P
M+"`R,#$R/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@
M,S$L(#(P,3$\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C
M+B`S,2P@,C`Q,#QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^/'-T<F]N9SY#=7)R96YT($%S<V5T<SH\+W-T<F]N9SX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^0V%S:"!A;F0@8V%S:"!E<75I=F%L
M96YT<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Q."PV-S$\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD
M(#@L.3$T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^)"`X+#<S-CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^06-C;W5N=',@<F5C96EV86)L92P@;F5T/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR-RPU,3,\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR."PQ-#`\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR-2PX-34\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/DEN=F5N=&]R:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ
M-"PS-S0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XQ-BPQ,S$\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XQ-RPS,#8\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/E!R97!A:60@:6YV96YT;W)Y/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M<#XV+#`Y-3QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/CDL,C,Y/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,BPW,34\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D]T:&5R
M(&-U<G)E;G0@87-S971S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XR+#,Q,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C0L,S(T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^,BPW,3(\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R974^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'!L('9A;&EG;CTS1'1O<#Y4;W1A;"!C=7)R96YT(&%S<V5T<SPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-C@L.38U/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-C8L-S0X/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-3<L,S(T
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#Y0<F]P97)T>2!A;F0@97%U:7!M96YT+"!N970\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C$U,RPQ,#D\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ-3DL-C$W/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,38X+#DW-CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N
M9SY/=&AE<B!!<W-E=',Z/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/DEN=&%N9VEB;&4@87-S971S+"!N970\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C,L.#8U/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-"PT-3@\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU+#,X,CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3W1H97(@
M87-S971S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#<R,SQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L
M-C4S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^,BPT,#$\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R;W4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y4;W1A;"!O=&AE<B!A<W-E=',\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C4L-3@X/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^-BPQ,3$\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XW+#<X,SQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E=3X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E1O=&%L($%S<V5T
M<RHJ/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR,C<L-C8R/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C,R
M+#0W-CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C(S-"PP.#,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/CQS=')O;F<^0W5R<F5N="!,:6%B:6QI=&EE<SH\+W-T
M<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^06-C;W5N
M=',@<&%Y86)L92`M('1R861E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XX+#0X-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C4L-3$Y/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^-BPT-S(\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%C8W)U960@;&EA8FEL:71I97,\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C,L-38P/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,BPW,3,\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS+#(U,3QS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M06-C<G5E9"!P<F5F97)R960@9&EV:61E;F1S/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#XF;F)S<#LF;F)S<#L\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XW+#,Q-3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@
M("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^0W5R<F5N="!P;W)T
M:6]N("T@;&]N9RUT97)M(&1E8G0@*&EN8VQU9&EN9R`D-S4P('1O(')E;&%T
M960@<&%R='DI/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU,"PQ
M,#4\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XW-3`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XS."PQ,#@\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R974^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y4;W1A;"!C=7)R96YT(&QI86)I;&ET:65S/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XV,BPQ-#D\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ-BPR.3<\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XT-RPX,S$\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/DQO;F<M=&5R;2!D96)T+"!N970@;V8@8W5R<F5N="!P;W)T:6]N/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XV."PY.3`\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XY,RPV.#D\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XX-"PY.#$\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/D%C8W)U960@<')E9F5R<F5D(&1I=FED96YD<SPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^-BPU.#,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#XF;F)S<#LF;F)S<#L\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XV+#`U,#QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^5V%R<F%N
M="!L:6%B:6QI=&EE<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M-BPT.34\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XQ+#DR,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^3W1H97(@;&EA8FEL:71I97,\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C$L,S0X/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^,2PS,#4\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XW+#0P-CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O=3X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E1O=&%L($QI86)I
M;&ET:65S*BH\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$T-2PU
M-C4\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XQ,3,L,C$R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^,30V+#(V.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^0V]M;6ET;65N=',@86YD($-O;G1I;F=E;F-I
M97,@*$YO=&5S(#0L(#4@86YD(#<I/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#XF;F)S<#LF;F)S<#L\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#XF;F)S<#LF;F)S<#L\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^4&%C
M:69I8R!%=&AA;F]L+"!);F,N(%-T;V-K:&]L9&5R<R<@17%U:71Y.CPO<W1R
M;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y#;VUM;VX@
M<W1O8VLL("0P+C`P,2!P87(@=F%L=64[(#,P,"PP,#`L,#`P('-H87)E<R!A
M=71H;W)I>F5D.R`Q-#0L-S$P+#@Y-R!A;F0@.#8L-C,Q+#8V-"!S:&%R97,@
M:7-S=65D(&%N9"!O=71S=&%N9&EN9R!A<R!O9B!397!T96UB97(@,S`L(#(P
M,3(@86YD($1E8V5M8F5R(#,Q+"`R,#$Q+"!R97-P96-T:79E;'D\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$T-3QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C@W/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3,\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%D9&ET:6]N86P@
M<&%I9"UI;B!C87!I=&%L/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XU.#$L.3@U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^-34V+#@W,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C4P-"PV,C,\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%C8W5M=6QA=&5D(&1E9FEC:70\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#4R-"PT.#<I/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-3`Y+#DX
M-2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M/B@U,3$L-SDT*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')O=3X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/E1O=&%L(%!A8VEF:6,@171H86YO;"P@26YC+B!3=&]C
M:VAO;&1E<G,G($5Q=6ET>3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^-3<L-C0T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^-#8L.3<T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;3XH-RPQ-3<I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y.;VYC;VYT<F]L;&EN9R!I;G1E<F5S
M="!I;B!V87)I86)L92!I;G1E<F5S="!E;G1I='D\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C(T+#0U,SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C<R+#(Y,#QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/CDT+#DW,CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O=3X-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E1O=&%L(%-T
M;V-K:&]L9&5R<R<@17%U:71Y/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XX,BPP.3<\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XQ,3DL,C8T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^.#<L.#$U/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F5U/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^5&]T86P@3&EA8FEL:71I97,@
M86YD(%-T;V-K:&]L9&5R<R<@17%U:71Y/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XR,C<L-C8R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^,C,R+#0W-CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C(S-"PP.#,\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R:#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E-E<FEE<T%0<F5F
M97)R9613=&]C:TUE;6)E<CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#X\<W1R;VYG/E!A8VEF:6,@171H86YO;"P@26YC+B!3=&]C:VAO;&1E
M<G,G($5Q=6ET>3H\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^4')E9F5R<F5D('-T;V-K+"`D,"XP,#$@<&%R('9A;'5E.R`Q
M,"PP,#`L,#`P('-H87)E<R!A=71H;W)I>F5D.R!397)I97,@03H@,2PV.#0L
M,S<U('-H87)E<R!A=71H;W)I>F5D.R`P('-H87)E<R!I<W-U960@86YD(&]U
M='-T86YD:6YG(&%S(&]F(%-E<'1E;6)E<B`S,"P@,C`Q,B!A;F0@1&5C96UB
M97(@,S$L(#(P,3$[(%-E<FEE<R!".B`Q+#4X,"PW.3`@<VAA<F5S(&%U=&AO
M<FEZ960[(#DR-BPY-#(@<VAA<F5S(&ES<W5E9"!A;F0@;W5T<W1A;F1I;F<@
M87,@;V8@4V5P=&5M8F5R(#,P+"`R,#$R(&%N9"!$96-E;6)E<B`S,2P@,C`Q
M,3L@;&EQ=6ED871I;VX@<')E9F5R96YC92!O9B`D,C0L-C4Y(&%S(&]F(%-E
M<'1E;6)E<B`S,"P@,C`Q,CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R:#X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/E-E<FEE<T)0<F5F97)R9613=&]C:TUE;6)E<CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/E!A8VEF:6,@171H86YO
M;"P@26YC+B!3=&]C:VAO;&1E<G,G($5Q=6ET>3H\+W-T<F]N9SX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4')E9F5R<F5D('-T;V-K+"`D
M,"XP,#$@<&%R('9A;'5E.R`Q,"PP,#`L,#`P('-H87)E<R!A=71H;W)I>F5D
M.R!397)I97,@03H@,2PV.#0L,S<U('-H87)E<R!A=71H;W)I>F5D.R`P('-H
M87)E<R!I<W-U960@86YD(&]U='-T86YD:6YG(&%S(&]F(%-E<'1E;6)E<B`S
M,"P@,C`Q,B!A;F0@1&5C96UB97(@,S$L(#(P,3$[(%-E<FEE<R!".B`Q+#4X
M,"PW.3`@<VAA<F5S(&%U=&AO<FEZ960[(#DR-BPY-#(@<VAA<F5S(&ES<W5E
M9"!A;F0@;W5T<W1A;F1I;F<@87,@;V8@4V5P=&5M8F5R(#,P+"`R,#$R(&%N
M9"!$96-E;6)E<B`S,2P@,C`Q,3L@;&EQ=6ED871I;VX@<')E9F5R96YC92!O
M9B`D,C0L-C4Y(&%S(&]F(%-E<'1E;6)E<B`S,"P@,C`Q,CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Q/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Q/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M
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M<G-E=#TB=7,M87-C:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\3454
M02!H='1P+65Q=6EV/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H
M=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S
M8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M
M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE
M(&-L87-S/3-$<F5P;W)T(&ED/3-$240P155$04<^#0H@("`@("`\='(^#0H@
M("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0Q
M/CQS=')O;F<^0T].4T],241!5$5$($)!3$%.0T4@4TA%1513("A087)E;G1H
M971I8V%L*2`H55-$("0I/&)R/DEN(%1H;W5S86YD<RP@97AC97!T(%-H87)E
M(&1A=&$L('5N;&5S<R!O=&AE<G=I<V4@<W!E8VEF:65D/"]S=')O;F<^/"]T
M:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CX\
M+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$Q/&)R
M/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3`\
M8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D-U<G)E;G0@
M<&]R=&EO;B!O9B!L;VYG('1E<FT@9&5B="!T;R!R96QA=&5D('!A<G1Y/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#<U,#QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@-S4P/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0
M<F5F97)R960@<W1O8VL@<&%R('9A;'5E("AI;B!$;VQL87)S('!E<B!S:&%R
M92D\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,"XP,#$\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#`N
M,#`Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^)"`P+C`P,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^4')E9F5R<F5D('-T;V-K('-H87)E<R!A=71H;W)I>F5D
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ,"PP,#`L,#`P/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3`L
M,#`P+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C$P+#`P,"PP,#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/D-O;6UO;B!S=&]C:RP@<&%R('9A;'5E/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#`N,#`Q/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P+C`P,3QS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@
M,"XP,#$\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/D-O;6UO;B!S=&]C:RP@875T:&]R:7IE9#PO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^,S`P+#`P,"PP,#`\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS,#`L,#`P+#`P,#QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C,P,"PP
M,#`L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@
M/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG
M;CTS1'1O<#Y#;VUM;VX@<W1O8VLL(&ES<W5E9#PO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^,30T+#<Q,"PX.3<\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XX-BPV,S$L-C8T/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3(L.3$X+#$T
M-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^0V]M;6]N('-T;V-K+"!O=71S=&%N9&EN9SPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^,30T+#<Q,"PX.3<\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XX-BPV,S$L-C8T/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3(L.3$X+#$T
M-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')H/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^4V5R:65S05!R969E<G)E9%-T;V-K365M8F5R/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/E!R969E<G)E9"!S=&]C:R!S:&%R97,@875T
M:&]R:7IE9#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,2PV.#0L
M,S<U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^,2PV.#0L,S<U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^,2PV.#0L,S<U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0<F5F97)R960@<W1O8VL@<VAA<F5S
M(&ES<W5E9#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,#QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C`\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XP/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0
M<F5F97)R960@<W1O8VL@4V5R:65S(&]U='-T86YD:6YG/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XP/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C`\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R:#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E-E<FEE<T)0<F5F97)R9613=&]C
M:TUE;6)E<CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0<F5F
M97)R960@<W1O8VL@<VAA<F5S(&%U=&AO<FEZ960\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C$L-3@P+#<Y,#QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L-3@P+#<Y,#QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L-3@P+#<Y,#QS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M4')E9F5R<F5D('-T;V-K('-H87)E<R!I<W-U960\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/CDR-BPY-#(\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M<#XY,C8L.30R/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,2PT-34L.3(T/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0<F5F
M97)R960@<W1O8VL@4V5R:65S(&]U='-T86YD:6YG/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$;G5M<#XY,C8L.30R/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^.3(V+#DT,CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L-#4U+#DR-#QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4')E
M9F5R<F5D('-T;V-K(%-E<FEE<R!"(&QI<75I9&%T:6]N('!R969E<F5N8V4@
M*&EN($1O;&QA<G,I/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD
M(#(T+#8U.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\
M+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A
M<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT
M96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y
M.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T,#0N:'1M;`T*0V]N
M=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N
M=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\
M:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E
M;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^
M/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^
M+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE
M860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS
M1$E$,$516$%'/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T
M;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/D-/3E-/3$E$051%
M1"!35$%414U%3E13($]&($]015)!5$E/3E,@*%531"`D*3QB<CY);B!4:&]U
M<V%N9',L(&5X8V5P="!3:&%R92!D871A+"!U;FQE<W,@;W1H97)W:7-E('-P
M96-I9FEE9#PO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H
M(&-O;'-P86X],T0R/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@("`@/'1H
M(&-L87-S/3-$=&@@8V]L<W!A;CTS1#(^,3(@36]N=&AS($5N9&5D/"]T:#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS
M1'1H/E-E<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S
M/3-$=&@^4V5P+B`S,"P@,C`Q,3QB<CX\+W1H/@T*("`@("`@("`\=&@@8VQA
M<W,],T1T:#Y$96,N(#,Q+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C
M;&%S<STS1'1H/D1E8RX@,S$L(#(P,3`\8G(^/"]T:#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^26YC;VUE(%-T871E;65N="!;06)S
M=')A8W1=/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/DYE="!S86QE<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M)"`V,3DL,#(V/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^)"`V-3DL,SDP/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^)"`Y,#$L,3@X/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`S,C@L,S,R/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y#;W-T(&]F
M(&=O;V1S('-O;&0\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C8S
M,RPX-#,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XV-#<L,S4U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^.#@Q+#<X.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/C,R.2PQ-#,\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;W4^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y'<F]S<R!P<F]F:70@*&QO
M<W,I/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q-"PX,3<I/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3(L
M,#,U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^,3DL,SDY/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;3XH.#$Q*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^4V5L;&EN9RP@9V5N97)A;"!A;F0@861M:6YI<W1R
M871I=F4@97AP96YS97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/CDL-#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^,3$L-S0R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^,34L-#(W/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^,3(L.34V/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F]U/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^26YC;VUE("AL;W-S*2!F<F]M
M(&]P97)A=&EO;G,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#(T
M+#(Q-RD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XR.3,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XS+#DW,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6T^*#$S+#<V-RD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/D9A:7(@=F%L=64@861J=7-T;65N=',@
M;VX@8V]N=F5R=&EB;&4@9&5B="!A;F0@=V%R<F%N=',\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/C,U,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C8L.38X/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-RPU-3D\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q,2PW,S8I/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y,;W-S
M(&]N(&EN=F5S=&UE;G0@:6X@1G)O;G0@4F%N9V4\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6T^*#$R+#$T-BD\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQO<W,@;VX@97AT:6YG=6ES:&UE
M;G0@;V8@9&5B=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,BPQ
M-3DI/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#Y);G1E<F5S="!E>'!E;G-E+"!N970\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6T^*#DL,S@P*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6T^*#$Q+#,S-RD\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q-"PX,3,I/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-BPX,#0I/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y/=&AE
M<B!I;F-O;64@*&5X<&5N<V4I+"!N970\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6T^*#0Y.2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M/B@W,#DI/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;3XH-S0Q*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C@T,#QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O=3X-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQO<W,@8F5F;W)E('!R;W9I
M<VEO;B!F;W(@:6YC;VUE('1A>&5S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M/B@S,RPW-#0I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;3XH-"PW.#4I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;3XH-"PP,C,I/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-#4L-S<R*3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4F5O<F=A;FEZ
M871I;VX@8V]S=',\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#0L
M,34S*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^1V%I;B!F<F]M(&)A;FMR=7!T8WD@97AI=#PO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^,3$Y+#0P.#QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4')O=FES:6]N(&9O<B!I;F-O
M;64@=&%X97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/B9N8G-P
M.R9N8G-P.SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')O=3X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/D-O;G-O;&ED871E9"!N970@:6YC;VUE("AL;W-S*3PO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;3XH,S,L-S0T*3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#0L-S@U*3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#0L,#(S*3QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C8Y+#0X,SQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M3F5T(&QO<W,@871T<FEB=71E9"!T;R!N;VYC;VYT<F]L;&EN9R!I;G1E<F5S
M="!I;B!V87)I86)L92!I;G1E<F5S="!E;G1I='D\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C(P+#$Y,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/CDL.3`U/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-RPP.3<\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XT+#0P.3QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O
M=3X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DYE="!I
M;F-O;64@*&QO<W,I(&%T=')I8G5T960@=&\@4&%C:69I8R!%=&AA;F]L+"!)
M;F,N/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q,RPU-3,I/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-2PQ
M,C`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XS+#`W-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C<S+#@Y,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^4')E9F5R<F5D('-T;V-K(&1I=FED96YD<SPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH.30Y*3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#DT-BD\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q+#(V-2D\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@R+#@T
M-RD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R;W4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#Y);F-O;64@*&QO<W,I(&%V86EL86)L92!T;R!C;VUM;VX@<W1O8VMH
M;VQD97)S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B0@*#$T+#4P
M,BD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XD(#0L,3<T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^)"`Q+#@P.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/B0@-S$L,#0U/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y.970@:6YC;VUE("AL;W-S*2!P
M97(@<VAA<F4L(&)A<VEC(&%N9"!D:6QU=&5D/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M/B0@*#`N,34I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P+C(\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#`N,#4\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#8N-S8\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E=E:6=H
M=&5D+6%V97)A9V4@<VAA<F5S(&]U='-T86YD:6YG+"!B87-I8SPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^.38L,C`S/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C$L,C,P/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,S,L-S,S/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3`L
M-3$T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#Y796EG:'1E9"UA=F5R86=E('-H87)E<R!O=71S=&%N9&EN9RP@9&EL
M=71E9#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^.38L,C`S/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C$L
M,S(X/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^,S,L.3@T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^,3,L,S<W/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM
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M:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV
M/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T
M/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$
M4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R
M:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P
M;W)T(&ED/3-$240P14%30DD^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C
M;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^0T].
M4T],241!5$5$(%-4051%345.5%,@3T8@0T%32"!&3$]74R`H55-$("0I/&)R
M/DEN(%1H;W5S86YD<RP@=6YL97-S(&]T:&5R=VES92!S<&5C:69I960\+W-T
M<F]N9SX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$
M,CXY($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H
M(&-O;'-P86X],T0R/C$R($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y397`N(#,P
M+"`R,#$R/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@
M,S`L(#(P,3$\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C
M+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$
M96,N(#,Q+"`R,#$P/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#X\<W1R;VYG/D]P97)A=&EN9R!!8W1I=FET:65S.CPO<W1R;VYG/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y#;VYS;VQI9&%T960@
M;F5T(&QO<W,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^)"`H,S,L
M-S0T*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6T^)"`H-"PW.#4I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;3XD("@T+#`R,RD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XD(#8Y+#0X,SQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY!9&IU<W1M
M96YT<R!T;R!R96-O;F-I;&4@8V]N<V]L:61A=&5D(&YE="!L;W-S('1O(&-A
M<V@@=7-E9"!I;B!O<&5R871I;F<@86-T:79I=&EE<SH\+W-T<F]N9SX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^1&5P<F5C:6%T:6]N(&%N
M9"!A;6]R=&EZ871I;VX@;V8@:6YT86YG:6)L97,\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/CDL,C$V/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^.2PT.3`\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ,BPV-#@\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XY+#$Q,#QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^1F%I<B!V
M86QU92!A9&IU<W1M96YT<R!O;B!C;VYV97)T:6)L92!D96)T(&%N9"!W87)R
M86YT<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,S4R*3QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#8L.38X
M*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^
M*#<L-34Y*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C$Q+#<S-CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^26YV96YT;W)Y('9A;'5A=&EO;CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^,C<U/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,34W/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-#<\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@T.3`I/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y'86EN(&]N(&1E
M<FEV871I=F4@:6YS=')U;65N=',\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6T^*#DV*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6T^*#$L,#0Y*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^06UO<G1I>F%T:6]N(&]F(&1E9F5R<F5D(&9I
M;F%N8VEN9R!F965S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XT
M-34\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XT.#4\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XV-3$\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XQ+#`P,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^3F]N8V%S:"!C;VUP96YS871I;VX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C<P-3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L.3<X/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,BPR-S@\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR+#0W,3QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^1&5R
M:79A=&EV92!I;G-T<G5M96YT<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;3XH,C`R*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6T^*#,S-"D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/D)A9"!D96)T(')E8V]V97)Y/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M/B@Q-2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q.#4I/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,C$X*3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#$X-"D\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DEN=&5R97-T
M(&]N(&-O;G9E<G1I8FQE(&1E8G0@<&%I9"!W:71H('-T;V-K/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M<#XS+#`W-CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^1V%I;B!O;B!B86YK<G5P
M=&-Y(&5X:70\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#$Q.2PT
M,#@I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#Y,;W-S(&]N(&EN=F5S=&UE;G0@:6X@1G)O;G0@4F%N9V4L(&AE;&0@
M9F]R('-A;&4\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$R+#$T
M-CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^3&]S<R!O;B!E>'1I;F=U:7-H;65N="!O9B!D96)T/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XR+#$U.3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^0F%R9V%I;B!P=7)C:&%S92!O
M9B!.97<@4$4@2&]L9&-O/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M/B@Q+#4V-BD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/D5Q=6ET>2!E87)N:6YG<R!O;B!&<F]N="!286YG93PO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^.3(X/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/D-H86YG
M97,@:6X@;W!E<F%T:6YG(&%S<V5T<R!A;F0@;&EA8FEL:71I97,Z/"]S=')O
M;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%C8V]U;G1S
M(')E8V5I=F%B;&4\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C8T
M,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^
M*#(L,C`T*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6T^*#(L,#8W*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6T^*#$S+#<X.2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/DEN=F5N=&]R:65S/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XQ+#0X,CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#4L,C@P*3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L,3(X/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-RPT-C(I/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0
M<F5P86ED(&5X<&5N<V5S(&%N9"!O=&AE<B!A<W-E=',\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/C$L-#@P/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,S8X*3QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#DS,RD\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@U,38I/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0<F5P86ED
M(&EN=F5N=&]R>3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,RPQ
M-#0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M/B@S+#0V-BD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M/B@V+#4R-"D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XT-S<\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/D%C8V]U;G1S('!A>6%B;&4@86YD(&%C8W)U
M960@97AP96YS97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C4L
M-#DR/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^,RPY,C`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M/B@R+#,U."D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M/B@Q+#DV."D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;W4^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y.970@8V%S:"!U<V5D(&EN(&]P97)A
M=&EN9R!A8W1I=FET:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M/B@Q,2PT,C(I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;3XH-RPU-C`I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;3XH,RPY-3`I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;3XH,S8L.3(Q*3QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY);G9E<W1I
M;F<@06-T:79I=&EE<SH\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^4'5R8VAA<V4@;V8@;W=N97)S:&EP(&EN=&5R97-T(&EN
M($YE=R!014A#/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q,"PP
M,#`I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^)FYB<W`[)FYB<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y!9&1I=&EO;G,@=&\@<')O<&5R='D@86YD(&5Q
M=6EP;65N=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,BPQ,34I
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH
M,2PT-3DI/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;3XH,BPS-C4I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;3XH-C0S*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^26YV97-T;65N=',@:6X@3F5W(%!%($AO;&1C
M;RP@;F5T(&]F(&-A<V@@86-Q=6ER960\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6T^*#DL,3$W*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6T^*#$Y+#0Y-"D\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E!R;V-E961S(&9R;VT@<V%L92!O
M9B!I;G9E<W1M96YT(&EN($9R;VYT(%)A;F=E/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XQ."PU,#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/DYE="!C87-H(&EM<&%C="!O9B!D96-O
M;G-O;&ED871I;VX@;V8@1G)O;G0@4F%N9V4\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6T^*#$P+#0X-BD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/DYE="!C87-H(&EM<&%C="!O9B!B86YK
M<G5P=&-Y(&5X:70\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#$L
M,S`Q*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')O=3X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/DYE="!C87-H('5S960@:6X@:6YV97-T:6YG(&%C=&EV:71I97,\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#$R+#$Q-2D\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q+#0U.2D\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q
M,2PT.#(I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;3XH,3,L-#(T*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^/'-T<F]N9SY&:6YA;F-I;F<@06-T:79I=&EE<SH\
M+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3F5T
M('!R;V-E961S(&9R;VT@<V%L97,@;V8@8V]M;6]N('-T;V-K(&%N9"!W87)R
M86YT<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C`L.3DT/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^)FYB
M<W`[)FYB<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^-RPS-C0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/DYE="!P<F]C965D<R!F<F]M(&)O<G)O=VEN9W,\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$S+#(T.3QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$W+#`Y,3QS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/CDL
M.34X/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^,3<L-3(R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y0<F5F97)R960@<W1O8VL@9&EV:61E;F1S('!A:60\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#DT.2D\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#XF;F)S<#LF;F)S<#L\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/E!R;V-E961S(&9R;VT@8V]N=F5R=&EB;&4@;F]T97,@86YD('=A<G)A;G1S
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS-2PP,#`\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E!R:6YC
M:7!A;"!P87EM96YT<R!O;B!C;VYV97)T:6)L92!N;W1E<SPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;3XH,2PR,3(I/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y087EM96YT<R!F;W(@9&5B
M="!I<W-U86YC92!C;W-T<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;3XH,BPY,#DI/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y0<F]C965D<R!F<F]M(&)O<G)O=VEN9W,@=6YD97(@1$E0
M($9I;F%N8VEN9SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-2PQ
M-S,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/E!R:6YC:7!A;"!P87EM96YT<R!P86ED(&]N(')E;&%T960@<&%R='D@
M8F]R<F]W:6YG<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-3`P
M*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^
M*#$S+#(U,"D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R;W4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y.970@8V%S:"`H=7-E9"!I;BD@<')O=FED960@8GD@9FEN
M86YC:6YG(&%C=&EV:71I97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C,S+#(Y-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C$W+#`Y,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C$U+#8Q,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C0Q+#4S-CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E=3X-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DYE="!I;F-R96%S92!I
M;B!C87-H(&%N9"!C87-H(&5Q=6EV86QE;G1S/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XY+#<U-SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/C@L,#<R/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3<X/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH."PX,#DI/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y#87-H(&%N9"!C
M87-H(&5Q=6EV86QE;G1S(&%T(&)E9VEN;FEN9R!O9B!P97)I;V0\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C@L.3$T/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^."PW,S8\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XX+#<S-CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$W+#4T
M-3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^0V%S:"!A;F0@8V%S:"!E<75I=F%L96YT<R!A="!E;F0@;V8@<&5R:6]D
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ."PV-S$\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ-BPX,#@\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XX
M+#DQ-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C@L-S,V/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#X\<W1R;VYG/E-U<'!L96UE;G1A;"!);F9O<FUA=&EO;CH\
M+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^26YT
M97)E<W0@<&%I9#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-RPU
M,#0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XX+#`T-SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C$Q+#8V.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/CDL-S<Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\
M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/DYO;F-A<V@@9FEN86YC:6YG
M(&%N9"!I;G9E<W1I;F<@86-T:79I=&EE<SH\+W-T<F]N9SX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4')E9F5R<F5D('-T;V-K(&1I=FED
M96YD<R!P86ED(&EN(&-O;6UO;B!S=&]C:SPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^-S,R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^)FYB<W`[)FYB<W`[/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y.;W1E<R!I<W-U960@9F]R
M('!U<F-H87-E(&]F(&]W;F5R<VAI<"!I;G1E<F5S="!I;B!.97<@4$5(0SPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3`L,#`P/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^)FYB<W`[)FYB
M<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#Y!8V-R=65D(&EN=&5R97-T(&%D9&5D('1O('1E<FT@;&]A;CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,2PT,#<\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#XF;F)S<#LF;F)S<#L\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/E!R969E<G)E9"!S=&]C:R!D:79I9&5N9',@86-C<G5E9#PO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^)FYB<W`[)FYB<W`[/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^.30V/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,2PR-C4\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR+#@T
M-SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^1&5B="!E>'1I;F=U:7-H960@=VET:"!I<W-U86YC92!O9B!C;VUM;VX@
M<W1O8VL\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N
M8G-P.SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C(U+#,X.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C,S+#<X.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C$Y+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4F5C;&%S<R!O9B!W87)R86YT(&QI
M86)I;&ET:7D@=&\@97%U:71Y('5P;VX@8V%S:&QE<W,@;F5T(&5X97)C:7-E
M(&]F('=A<G)A;G1S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD
M(#$L,34W/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO
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M=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$0V]N=&5N
M="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\
M<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO
M*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A
M9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$
M240P15580DD^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L
M(&-O;'-P86X],T0Q(')O=W-P86X],T0Q/CQS=')O;F<^0T].4T],241!5$5$
M(%-4051%345.5%,@3T8@4U1/0TM(3TQ$15)3)R!%455)5%D@*%531"`D*3QB
M<CY);B!4:&]U<V%N9',\+W-T<F]N9SX\+W1H/@T*("`@("`@("`\=&@@8VQA
M<W,],T1T:#Y0<F5F97)R960@4W1O8VL\8G(^/"]T:#X-"B`@("`@("`@/'1H
M(&-L87-S/3-$=&@^0V]M;6]N(%-T;V-K/&)R/CPO=&@^#0H@("`@("`@(#QT
M:"!C;&%S<STS1'1H/D%D9&ET:6]N86P@4&%I9"U);B!#87!I=&%L/&)R/CPO
M=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E)E=&%I;F5D($5A<FYI;F=S
M("\@06-C=6UU;&%T960@1&5F:6-I=#QB<CX\+W1H/@T*("`@("`@("`\=&@@
M8VQA<W,],T1T:#Y.;VYC;VYT<F]L;&EN9R!);G1E<F5S=#QB<CX\+W1H/@T*
M("`@("`@("`\=&@@8VQA<W,],T1T:#Y4;W1A;#QB<CX\+W1H/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')C/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^0F%L86YC97,@870@1&5C+B`S,2P@,C`P
M.3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`R/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`X/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`T.#`L
M.3DW/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;3XD("@U.#$L,#<V*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/B0@-#(L,C<Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;3XD("@U-RPW.3@I/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F,^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y"86QA;F-E<R`H:6X@
M4VAA<F5S*2!A="!$96,N(#,Q+"`R,#`Y/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XR+#,T-CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C@L,C$P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y$96-O;G-O;&ED871I;VX@;V8@1G)O
M;G0@4F%N9V4\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#$L-S8S
M*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^
M*#0R+#(W,2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M/B@T-"PP,S0I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y#;VYS;VQI9&%T:6]N(&]F($YE=R!012!(;VQD
M8V\\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/CDY+#,X,3QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/CDY+#,X
M,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^4W1O8VLM8F%S960@8V]M<&5N<V%T:6]N(&5X<&5N<V4@+2!R97-T<FEC
M=&5D('-T;V-K/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,BPT
M-S`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XR+#0W,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^4W1O8VLM8F%S960@8V]M<&5N<V%T:6]N(&5X<&5N<V4@+2!R
M97-T<FEC=&5D('-T;V-K("AI;B!3:&%R97,I/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XU-C`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/D-O;G9E<G-I;VX@;V8@<')E9F5R<F5D('-T
M;V-K('1O(&-O;6UO;B!S=&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;3XH,2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XQ/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y#;VYV97)S:6]N(&]F('!R969E<G)E9"!S=&]C:R!T;R!C
M;VUM;VX@<W1O8VL@*&EN(%-H87)E<RD\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6T^*#@Y,"D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XW,#<\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/E-H87)E<R!I<W-U960@:6X@9&5B="!E>'1I
M;F=U:7-H;65N=',\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C,\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR
M,2PQ-38\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XR,2PQ-3D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/E-H87)E<R!I<W-U960@:6X@9&5B="!E>'1I;F=U:7-H
M;65N=',@*&EN(%-H87)E<RD\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C,L-#0Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y0<F5F97)R960@<W1O8VL@9&EV:61E;F1S/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M/B@R+#@T-RD\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@R+#@T-RD\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DYE="!I;F-O
M;64@*&QO<W,I/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XW,RPX
M.3(\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M/B@T+#0P.2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XV.2PT.#,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R8SX-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/D)A;&%N8V5S(&%T($1E8RX@,S$L(#(P,3`\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ,SQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C4P-"PV,C,\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@U,3$L-SDT
M*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/CDT+#DW,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C@W+#@Q-3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')C/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^0F%L86YC97,@*&EN(%-H87)E<RD@870@1&5C+B`S
M,2P@,C`Q,#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,2PT-38\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ
M,BPY,3@\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/E-T;V-K+6)A<V5D(&-O;7!E;G-A=&EO;B!E>'!E;G-E("T@<F5S
M=')I8W1E9"!S=&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M,BPR-S@\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XR+#(W.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^4W1O8VLM8F%S960@8V]M<&5N<V%T:6]N(&5X<&5N<V4@
M+2!R97-T<FEC=&5D('-T;V-K("AI;B!3:&%R97,I/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$;G5M<#XR-C0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/D-O;G9E<G-I;VX@;V8@<')E9F5R<F5D
M('-T;V-K('1O(&-O;6UO;B!S=&]C:R`H:6X@4VAA<F5S*3PO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;3XH-3(Y*3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C0T-#QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4VAA<F5S(&ES<W5E9"!O
M;B!#;VYV97)T:6)L92!.;W1E<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^-C0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XS-BPX,#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XS-BPX-C0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/E-H87)E<R!I<W-U960@;VX@0V]N=F5R
M=&EB;&4@3F]T97,@*&EN(%-H87)E<RD\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C8S+#@U.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^4VAA<F5S(&ES<W5E9"!I;B!P<FEV871E('!L
M86-E;65N=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^.#QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C4L-30W
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M-2PU-34\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/E-H87)E<R!I<W-U960@:6X@<')I=F%T92!P;&%C96UE;G0@*&EN
M(%-H87)E<RD\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C<L-C(U
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#Y787)R86YT(&5X97)C:7-E<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C$L,34U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^,2PQ-3<\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/E=A<G)A;G0@97AE<F-I<V5S("AI;B!3:&%R
M97,I/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#4R,CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4'5R
M8VAA<V4@;V8@:6YT97)E<W1S(&EN($YE=R!012!(;VQD8V\\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C8L-#8X/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,34L-3@U*3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#DL,3$W*3QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4')E
M9F5R<F5D('-T;V-K(&1I=FED96YD<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;3XH,2PR-C4I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;3XH,2PR-C4I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y.970@:6YC;VUE("AL;W-S*3PO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,RPP-S0\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@W+#`Y-RD\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@T+#`R,RD\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R8SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/D)A;&%N8V5S(&%T($1E8RX@,S$L(#(P,3$\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/B0@,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/B0@.#<\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XD(#4U-BPX-S$\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B0@*#4P.2PY.#4I/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`W,BPR
M.3`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XD(#$Q.2PR-C0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R8SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/D)A;&%N8V5S("AI;B!3:&%R97,I(&%T($1E8RX@,S$L
M(#(P,3$\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/CDR-SQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C@V+#8S
M,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE
M/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-C$S
M.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT96YT+4QO
M8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y
M.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T,#<N:'1M;`T*0V]N=&5N="U4
M<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4
M>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-
M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP
M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP
M="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@
M3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@
M(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$52
M1SX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A
M;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SXQ+B!/4D=!3DE:051)3TX@04Y$
M($)!4TE3($]&(%!215-%3E1!5$E/3CQB<CX\+W-T<F]N9SX\+W1H/@T*("`@
M("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,3XY($UO;G1H<R!%;F1E
M9#PO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/C$R
M($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*
M("`@("`@("`\=&@@8VQA<W,],T1T:#Y397`N(#,P+"`R,#$R/&)R/CPO=&@^
M#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T
M:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^3W)G86YI
M>F%T:6]N($%N9"!"87-I<R!/9B!0<F5S96YT871I;VX\+W-T<F]N9SX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^,2X@3U)'04Y)6D%424].
M($%.1"!"05-)4R!/1B!04D5314Y4051)3TXN/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
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M9"!B96QO=RP@=&AE(%!L86YT($]W;F5R<R`H87,@9&5F:6YE9"!B96QO=RD@
M*&-O;&QE8W1I=F5L>2P-"G1H92`F(S$T-SM#;VUP86YY)B,Q-#@[*2X\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>3L@=&5X="UI;F1E;G0Z(#!I;B<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/E1H90T*0V]M<&%N>2!I<R!T:&4@;&5A
M9&EN9R!M87)K971E<B!A;F0@<')O9'5C97(@;V8@;&]W+6-A<F)O;B!R96YE
M=V%B;&4@9G5E;',@:6X@=&AE(%=E<W1E<FX@56YI=&5D(%-T871E<RX@5&AE
M($-O;7!A;GD@86QS;R!S96QL<PT*971H86YO;"!C;RUP<F]D=6-T<RP@:6YC
M;'5D:6YG('=E="!D:7-T:6QL97)S(&=R86EN(&%N9"!S>7)U<"`H)B,Q-#<[
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M:&4@4&%C:69I8R!%=&AA;F]L(%!L86YT<R`H87,@9&5F:6YE9"!B96QO=RD@
M86YD#0IU;G)E;&%T960@=&AI<F0@<&%R=&EE<R!T;R!G87-O;&EN92!R969I
M;FEN9R!A;F0@9&ES=')I8G5T:6]N(&-O;7!A;FEE<R!A;F0@<V5L;',@:71S
M(%=$1R!T;R!D86ER>2!O<&5R871O<G,@86YD(&%N:6UA;"!F965D(&1I<W1R
M:6)U=&]R<RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y.R!T97AT+6EN9&5N=#H@,&EN)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
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M("AC;VQL96-T:79E;'DL('1H92`F(S$T-SM086-I9FEC($5T:&%N;VP@4&QA
M;G1S)B,Q-#@[*0T*86YD('1H96ER(&AO;&1I;F<@8V]M<&%N>2P@4&%C:69I
M8R!%=&AA;F]L($AO;&1I;F<@0V\N($Q,0R`H)B,Q-#<[4$5(0RPF(S$T.#L@
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M97!T96UB97(@,S`L(#(P,3(L('1H<F5E(&]F('1H92!F86-I;&ET:65S('=E
M<F4@;W!E<F%T:6YG(&%N9"!O;F4@;V8@=&AE(&9A8VEL:71I97,@=V%S(&ED
M;&5D+B!7:&5N(&UA<FME="!C;VYD:71I;VYS#0IP97)M:70L(&%N9"!W:71H
M(&%P<')O=F%L(&]F($YE=R!012!(;VQD8V\L('1H92!#;VUP86YY(&EN=&5N
M9',@=&\@<F5S=6UE(&]P97)A=&EO;G,@870@=&AE($UA9&5R82P@0V%L:69O
M<FYI82!F86-I;&ET>2X\+V9O;G0^/"]P/@T*#0H-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D]N($]C=&]B97(-
M"C8L(#(P,3`L('1H92!#;VUP86YY('!U<F-H87-E9"!A;B!I;FET:6%L(#(P
M)2!O=VYE<G-H:7`@:6YT97)E<W0@:6X@3F5W(%!%($AO;&1C;RP@82!V87)I
M86)L92!I;G1E<F5S="!E;G1I='D@*"8C,30W.U9)128C,30X.RDL#0IF<F]M
M(&$@;G5M8F5R(&]F($YE=R!012!(;VQD8V\F(S$T-CMS(&]W;F5R<RX@070@
M=&AA="!T:6UE+"!T:&4@0V]M<&%N>2!D971E<FUI;F5D(&ET('=A<R!T:&4@
M<')I;6%R>2!B96YE9FEC:6%R>2!O9B!.97<@4$4@2&]L9&-O+`T*86YD(&%S
M('-U8V@L(&AA<R!C;VYS;VQI9&%T960@=&AE(')E<W5L=',@;V8@3F5W(%!%
M($AO;&1C;R!S:6YC92!T:&5N+B!3964@3F]T92`R("8C,34P.R!687)I86)L
M92!);G1E<F5S="!%;G1I='DN($]N(&5A8V@@;V8-"DYO=F5M8F5R(#(Y+"`R
M,#$Q(&%N9"!$96-E;6)E<B`Q.2P@,C`Q,2P@=&AE($-O;7!A;GD@<'5R8VAA
M<V5D(&%N(&%D9&ET:6]N86P@-R4@;W=N97)S:&EP(&EN=&5R97-T(&EN($YE
M=R!012!(;VQD8V\N($9U<G1H97(L#0IO;B!*=6QY(#$S+"`R,#$R+"!T:&4@
M0V]M<&%N>2!P=7)C:&%S960@86X@861D:71I;VYA;"`S,R4@;W=N97)S:&EP
M(&EN=&5R97-T(&EN($YE=R!012!(;VQD8V\L(&)R:6YG:6YG('1H92!#;VUP
M86YY)B,Q-#8[<R!T;W1A;`T*;W=N97)S:&EP(&EN=&5R97-T(&EN($YE=R!0
M12!(;VQD8V\@=&\@-C<E(&%S(&]F(%-E<'1E;6)E<B`S,"P@,C`Q,BX\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
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M(&9O<B!T:&4@;F5X=`T*='=E;'9E(&UO;G1H<RX@4V5E($YO=&4@-2`F(S$U
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M:6UP86-T(&ET<R!O<&5R871I;VYS+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^0F%S:7,-"F]F
M(%!R97-E;G1A=&EO;CPO=3X\+VD^/'4^)B,Q-3`[/&D^26YT97)I;2!&:6YA
M;F-I86P@4W1A=&5M96YT<SPO:3X\+W4^/&9O;G0@<W1Y;&4],T0G9F]N="UF
M86UI;'DZ(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!C;VQO<CH@
M8FQA8VLG/@T*/"]F;VYT/B8C,34P.R!4:&4@86-C;VUP86YY:6YG('5N875D
M:71E9"!C;VYS;VQI9&%T960@9FEN86YC:6%L('-T871E;65N=',@86YD(')E
M;&%T960@;F]T97,@:&%V92!B965N('!R97!A<F5D(&EN(&%C8V]R9&%N8V4-
M"G=I=&@@86-C;W5N=&EN9R!P<FEN8VEP;&5S(&=E;F5R86QL>2!A8V-E<'1E
M9"!I;B!T:&4@56YI=&5D(%-T871E<R!F;W(@:6YT97)I;2!F:6YA;F-I86P@
M:6YF;W)M871I;VX@86YD('1H92!I;G-T<G5C=&EO;G,@=&\@1F]R;0T*,3`M
M42!A;F0@4G5L928C,38P.S$P+3`Q(&]F(%)E9W5L871I;VXF(S$V,#M3+5@N
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M96%R<R!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"!A;F0@<F5L
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M('1H92!O<&EN:6]N(&]F(&UA;F%G96UE;G0L(&%L;"!A9&IU<W1M96YT<R`H
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M<V]L:61A=&EO;BX\+V9O;G0^/"]P/@T*#0H-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^57-E#0IO
M9B!%<W1I;6%T97,\+W4^/"]I/B`M(%1H92!P<F5P87)A=&EO;B!O9B!T:&4@
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M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M/&D^/'4^4F5C;&%S<VEF:6-A=&EO;@T*/"]U/CPO:3XM(%)E8VQA<W-I9FEC
M871I;VYS(&]F('!R:6]R('EE87(F(S$T-CMS(&1A=&$@:&%V92!B965N(&UA
M9&4@=&\@8V]N9F]R;2!T;R`R,#$R(&-L87-S:69I8V%T:6]N<RX@4W5C:"!C
M;&%S<VEF:6-A=&EO;G,-"FAA9"!N;R!E9F9E8W0@;VX@;F5T(&EN8V]M92`H
M;&]S<RD@<F5P;W)T960@:6X@=&AE(&-O;G-O;&ED871E9"!S=&%T96UE;G1S
M(&]F(&]P97)A=&EO;G,N/"]F;VYT/CPO<#X-"@T*#0H-"@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/D%C
M8V]U;G1S#0I296-E:79A8FQE(&%N9"!!;&QO=V%N8V4@9F]R($1O=6)T9G5L
M($%C8V]U;G1S/"]U/CPO:3X@)B,Q-3`[(%1R861E(&%C8V]U;G1S(')E8V5I
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M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
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M<F5Q=6ER960N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY/9B!T:&4@=&]T86P-"F%C8V]U;G1S(')E8V5I
M=F%B;&4@8F%L86YC92P@87!P<F]X:6UA=&5L>2`D,C4L-30P+#`P,"!A;F0@
M)#(S+#<Q-2PP,#`@870@4V5P=&5M8F5R(#,P+"`R,#$R(&%N9"!$96-E;6)E
M<B`S,2P@,C`Q,2P@<F5S<&5C=&EV96QY+`T*=V5R92!U<V5D(&%S(&-O;&QA
M=&5R86P@=6YD97(@2VEN97)G>28C,30V.W,@=V]R:VEN9R!C87!I=&%L(&QI
M;F4@;V8@8W)E9&ET+B!4:&4@86QL;W=A;F-E(&9O<B!D;W5B=&9U;"!A8V-O
M=6YT<R!W87,@)#DL,#`P(&%N9`T*)#(T+#`P,"!A<R!O9B!397!T96UB97(@
M,S`L(#(P,3(@86YD($1E8V5M8F5R(#,Q+"`R,#$Q+"!R97-P96-T:79E;'DN
M(%1H92!#;VUP86YY(')E8V]R9&5D(&YE="!B860@9&5B="!R96-O=F5R:65S
M(&]F("0Q-2PP,#`-"F%N9"`D,3@U+#`P,"!F;W(@=&AE(&YI;F4@;6]N=&AS
M(&5N9&5D(%-E<'1E;6)E<B`S,"P@,C`Q,B!A;F0@,C`Q,2P@<F5S<&5C=&EV
M96QY+CPO9F]N=#X\+W`^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/CQI/CQU/D]R9V%N:7IA=&EO;@T*86YD($)U<VEN97-S/"]U/CPO:3X@)B,Q
M-3`[(%1H92!C;VYS;VQI9&%T960@9FEN86YC:6%L('-T871E;65N=',@:6YC
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M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
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M<G1A=&EO;BP@<W1O<F%G92!A;F0@9&5L:79E<GD@;V8@971H86YO;`T*=&AR
M;W5G:"!T:&ER9"UP87)T>2!S97)V:6-E('!R;W9I9&5R<R!I;B!T:&4@5V5S
M=&5R;B!5;FET960@4W1A=&5S+"!P<FEM87)I;'D@:6X@0V%L:69O<FYI82P@
M07)I>F]N82P@3F5V861A+"!5=&%H+"!/<F5G;VXL($-O;&]R861O+`T*261A
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M86P@9F5E9"!D:7-T<FEB=71O<G,N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY/;B!-87D@,3<L#0HR,#`Y
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M8R!%=&AA;F]L($AO;&1I;F<@0V\N($Q,0R`H=&]G971H97(@=VET:"!T:&4@
M4&%C:69I8R!%=&AA;F]L(%!L86YT<RP@=&AE("8C,30W.U!L86YT($]W;F5R
M<R8C,30X.RD@96%C:"!F:6QE9"!V;VQU;G1A<GD-"G!E=&ET:6]N<R!F;W(@
M<F5L:65F('5N9&5R(&-H87!T97(@,3$@;V8@5&ET;&4@,3$@;V8@=&AE(%5N
M:71E9"!3=&%T97,@0V]D92`H=&AE("8C,30W.T)A;FMR=7!T8WD@0V]D928C
M,30X.RD@:6X@=&AE(%5N:71E9`T*4W1A=&5S($)A;FMR=7!T8WD@0V]U<G0@
M9F]R('1H92!$:7-T<FEC="!O9B!$96QA=V%R92`H=&AE("8C,30W.T)A;FMR
M=7!T8WD@0V]U<G0F(S$T.#LI(&EN(&%N(&5F9F]R="!T;R!R97-T<G5C='5R
M92!T:&5I<B!I;F1E8G1E9&YE<W,-"BAT:&4@)B,Q-#<[0VAA<'1E<B`Q,2!&
M:6QI;F=S)B,Q-#@[*2X@4&%C:69I8R!%=&AA;F]L+"!014D@0V%L:69O<FYI
M82P@2VEN97)G>2!A;F0@4$%0(&1I9"!N;W0L(&%T(&%N>2!T:6UE+"!F:6QE
M(&9O<B!P<F]T96-T:6]N#0IU;F1E<B!T:&4@0F%N:W)U<'1C>2!#;V1E+CPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^3VX@2G5N92`R.2P-"C(P,3`@*'1H92`F(S$T-SM%9F9E8W1I=F4@
M1&%T928C,30X.RDL('1H92!0;&%N="!/=VYE<G,@9&5C;&%R960@969F96-T
M:79E('1H96ER(&%M96YD960@:F]I;G0@<&QA;B!O9B!R96]R9V%N:7IA=&EO
M;B`H=&AE("8C,30W.U!L86XF(S$T.#LI#0IW:71H('1H92!"86YK<G5P=&-Y
M($-O=7)T+"!W:&EC:"!W87,@<W1R=6-T=7)E9"!I;B!C;V]P97)A=&EO;B!W
M:71H(&-E<G1A:6X@;V8@=&AE(%!L86YT($]W;F5R<R8C,30V.R!S96-U<F5D
M(&QE;F1E<G,N(%5N9&5R#0IT:&4@4&QA;BP@;VX@=&AE($5F9F5C=&EV92!$
M871E+"`Q,#`E(&]F('1H92!O=VYE<G-H:7`@:6YT97)E<W1S(&EN('1H92!0
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M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!#;VUP86YY#0IM86YA9V5S('1H
M92!P<F]D=6-T:6]N(&%N9"!O<&5R871I;VX@;V8@=&AE(%!A8VEF:6,@171H
M86YO;"!0;&%N=',N(%1H97-E(&9O=7(@9F%C:6QI=&EE<R!H879E(&%N(&%G
M9W)E9V%T92!A;FYU86P@<')O9'5C=&EO;@T*8V%P86-I='D@;V8@=7`@=&\@
M,C`P(&UI;&QI;VX@9V%L;&]N<RX@07,@;V8@1&5C96UB97(@,S$L(#(P,3$L
M('1H<F5E(&]F('1H92!F86-I;&ET:65S('=E<F4@;W!E<F%T:6YG(&%N9"!O
M;F4@;V8@=&AE(&9A8VEL:71I97,-"G=A<R!I9&QE9"X@5VAE;B!M87)K970@
M8V]N9&ET:6]N<R!P97)M:70L(&%N9"!W:71H(&%P<')O=F%L(&]F($YE=R!0
M12!(;VQD8V\L('1H92!#;VUP86YY(&EN=&5N9',@=&\@<F5S=6UE(&]P97)A
M=&EO;G,@870@=&AE#0I-861E<F$L($-A;&EF;W)N:6$@9F%C:6QI='DN/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY/;B!/8W1O8F5R#0HV+"`R,#$P+"!T:&4@0V]M<&%N>2!P=7)C:&%S
M960@82`R,"4@;W=N97)S:&EP(&EN=&5R97-T(&EN($YE=R!012!(;VQD8V\L
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M($YE=R!012!(;VQD8V\@<VEN8V4@=&AE;BX@4V5E($YO=&4@,B`F(S$U,#L@
M5F%R:6%B;&4@26YT97)E<W0@16YT:71I97,N($]N(&5A8V@-"F]F($YO=F5M
M8F5R(#(Y+"`R,#$Q(&%N9"!$96-E;6)E<B`Q.2P@,C`Q,2P@=&AE($-O;7!A
M;GD@<'5R8VAA<V5D(&%N(&%D9&ET:6]N86P@-R4@:6YT97)E<W0@:6X@3F5W
M(%!%($AO;&1C;RP@8G)I;F=I;F<@=&AE($-O;7!A;GDF(S$T-CMS#0IT;W1A
M;"!O=VYE<G-H:7`@:6YT97)E<W0@:6X@3F5W(%!%($AO;&1C;R!T;R`S-"4N
M($%S(&]F($1E8V5M8F5R(#,Q+"`R,#$Q+"!T:&4@0V]M<&%N>2!H96QD(&$@
M,S0E(&]W;F5R<VAI<"!I;G1E<F5S="!I;B!.97<@4$4-"DAO;&1C;RX\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/CQI/CQU/D)A<VES#0IO9B!0<F5S96YT871I;VX\+W4^/"]I/B`F(S$U
M,#L@5&AE(&-O;G-O;&ED871E9"!F:6YA;F-I86P@<W1A=&5M96YT<R!A;F0@
M<F5L871E9"!N;W1E<R!H879E(&)E96X@<')E<&%R960@:6X@86-C;W)D86YC
M92!W:71H#0IA8V-O=6YT:6YG('!R:6YC:7!L97,@9V5N97)A;&QY(&%C8V5P
M=&5D(&EN(%5N:71E9"!3=&%T97,@*"8C,30W.T=!05`F(S$T.#LI(&%N9"!I
M;F-L=61E('1H92!A8V-O=6YT<R!O9B!T:&4@0V]M<&%N>2X@06QL('-I9VYI
M9FEC86YT#0II;G1E<F-O;7!A;GD@86-C;W5N=',@86YD('1R86YS86-T:6]N
M<R!H879E(&)E96X@96QI;6EN871E9"!I;B!C;VYS;VQI9&%T:6]N+B8C,38P
M.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^/&D^/'4^0V]N<V]L:61A=&EO;@T*;V8@5F%R:6%B;&4@26YT
M97)E<W0@16YT:71I97,\+W4^/"]I/B`F(S$U,#L@169F96-T:79E($IA;G5A
M<GD@,2P@,C`Q,"P@=&AE($-O;7!A;GD@861O<'1E9"!T:&4@86UE;F1E9"!G
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M92!F;VQL;W=I;F<@8VAA<F%C=&5R:7-T:6-S.B`H:2D@=&AE('!O=V5R('1O
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M:&5T:&5R(&ET(&AA<R!A;B!I;7!L:6-I=`T*9FEN86YC:6%L(')E<W!O;G-I
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M244N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY3:6YC92!*86YU87)Y#0HQ+"`R,#$P+"!T:&4@0V]M<&%N
M>2!I9&5N=&EF:65D($9R;VYT(%)A;F=E($5N97)G>2P@3$Q#("@F(S$T-SM&
M<F]N="!286YG928C,30X.RDL(&%N(&5N=&ET>2!I;B!W:&EC:"!T:&4@0V]M
M<&%N>2!H96QD(&$@-#(E#0IO=VYE<G-H:7`@:6YT97)E<W0L(&%N9"!.97<@
M4$4@2&]L9&-O(&%S(%9)17,N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY0<FEO<B!T;PT*2F%N=6%R>2`Q
M+"`R,#$P+"!U;F1E<B!T:&4@;W)I9VEN86P@9W5I9&%N8V4L('1H92!#;VUP
M86YY(&1E=&5R;6EN960@=&AA="!I="!M=7-T(&-O;G-O;&ED871E($9R;VYT
M(%)A;F=E+"!W:&EC:"!O=VYS(&%N(&5T:&%N;VP-"G!L86YT(&QO8V%T960@
M:6X@5VEN9'-O<BP@0V]L;W)A9&\L('=I=&@@86X@86YN=6%L('!R;V1U8W1I
M;VX@8V%P86-I='D@;V8@=7`@=&\@-3`@;6EL;&EO;B!G86QL;VYS+B!5;F1E
M<B!T:&4@86UE;F1E9"!G=6ED86YC92P-"G1H92!#;VUP86YY(&1E=&5R;6EN
M960@969F96-T:79E($IA;G5A<GD@,2P@,C`Q,"P@=&AA="!I="!W87,@;F\@
M;&]N9V5R('1H92!P<FEM87)Y(&)E;F5F:6-I87)Y(&]F($9R;VYT(%)A;F=E
M(&%N9"P@87,@82!R97-U;'0L#0IN;R!L;VYG97(@8V]N<V]L:61A=&5D($9R
M;VYT(%)A;F=E)B,Q-#8[<R!R97-U;'1S(&%N9"!I;G-T96%D(')E8V]R9&5D
M(&ET<R!I;G9E<W1M96YT(&EN($9R;VYT(%)A;F=E('5N9&5R('1H92!E<75I
M='D@;65T:&]D#0IO9B!A8V-O=6YT:6YG+B!/;B!/8W1O8F5R(#8L(#(P,3`L
M('1H92!#;VUP86YY('-O;&0@:71S(&5N=&ER92`T,B4@;W=N97)S:&EP(&EN
M=&5R97-T(&EN($9R;VYT(%)A;F=E+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3VX@=&AE($5F9F5C=&EV
M90T*1&%T92P@=&AE($-O;7!A;GD@9&5T97)M:6YE9"!T:&%T($YE=R!012!(
M;VQD8V\@=V%S(&$@5DE%+"!H;W=E=F5R+"!T:&4@0V]M<&%N>2!D:60@;F]T
M(&)E;&EE=F4@:70@=V%S($YE=R!012!(;VQD8V\F(S$T-CMS('!R:6UA<GD-
M"F)E;F5F:6-I87)Y+B!/;B!/8W1O8F5R(#8L(#(P,3`L('5P;VX@=&AE($-O
M;7!A;GDF(S$T-CMS('!U<F-H87-E(&]F(&$@,C`E(&EN=&5R97-T(&EN($YE
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M;W-E<RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/CQI/CQU/E)E=F5R<V4-"E-T;V-K(%-P;&ET/"]U/CPO
M:3X@)B,Q-3`[($]N($IU;F4@."P@,C`Q,2P@=&AE($-O;7!A;GD@969F96-T
M960@82!O;F4M9F]R+7-E=F5N(')E=F5R<V4@<W1O8VL@<W!L:70N($%L;"!S
M:&%R92!A;F0@<&5R('-H87)E#0II;F9O<FUA=&EO;B!H87,@8F5E;B!R97-T
M871E9"!T;R!R971R;V%C=&EV96QY('-H;W<@=&AE(&5F9F5C="!O9B!T:&ES
M('-T;V-K('-P;&ET+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
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M92X\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/CQI/CQU/D-A<V@-"F%N9"!#87-H($5Q=6EV86QE;G1S/"]U
M/CPO:3X@)B,Q-3`[(%1H92!#;VUP86YY(&-O;G-I9&5R<R!A;&P@:&EG:&QY
M+6QI<75I9"!I;G9E<W1M96YT<R!W:71H(&%N(&]R:6=I;F%L(&UA='5R:71Y
M(&]F('1H<F5E(&UO;G1H<PT*;W(@;&5S<R!T;R!B92!C87-H(&5Q=6EV86QE
M;G1S+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^/&D^/'4^06-C;W5N=',-"E)E8V5I=F%B;&4@86YD($%L
M;&]W86YC92!F;W(@1&]U8G1F=6P@06-C;W5N=',\+W4^/"]I/B`F(S$U,#L@
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M<R!O9B!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"P@87,@9&5S8W)I8F5D
M(&)E;&]W+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
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M;W=A;F-E<R!M87D@8F4@<F5Q=6ER960N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY/9B!T:&4@86-C;W5N
M=',-"G)E8V5I=F%B;&4@8F%L86YC92P@87!P<F]X:6UA=&5L>2`D,C,L-S$U
M+#`P,"!A;F0@)#(P+#DW-RPP,#`@870@1&5C96UB97(@,S$L(#(P,3$@86YD
M(#(P,3`L(')E<W!E8W1I=F5L>2P@=V5R92!U<V5D(&%S(&-O;&QA=&5R86P-
M"G5N9&5R($MI;F5R9WDF(S$T-CMS('=O<FMI;F<@8V%P:71A;"!L:6YE(&]F
M(&-R961I="X@5&AE(&%L;&]W86YC92!F;W(@9&]U8G1F=6P@86-C;W5N=',@
M=V%S("0R-"PP,#`@86YD("0R.#<L,#`P(&%S(&]F($1E8V5M8F5R#0HS,2P@
M,C`Q,2!A;F0@,C`Q,"P@<F5S<&5C=&EV96QY+B!4:&4@0V]M<&%N>2!R96-O
M<F1E9"!A(&)A9"!D96)T(')E8V]V97)Y(&]F("0R,3@L,#`P(&%N9"`D,3@T
M+#`P,"!F;W(@=&AE('EE87)S(&5N9&5D($1E8V5M8F5R#0HS,2P@,C`Q,2!A
M;F0@,C`Q,"P@<F5S<&5C=&EV96QY+B!4:&4@0V]M<&%N>2!D;V5S(&YO="!H
M879E(&%N>2!O9F8M8F%L86YC92!S:&5E="!C<F5D:70@97AP;W-U<F4@<F5L
M871E9"!T;R!I=',@8W5S=&]M97)S+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^0V]N8V5N=')A
M=&EO;G,-"F]F($-R961I="!2:7-K/"]U/CPO:3X@)B,Q-3`[($-R961I="!R
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M(&9I;F%N8VEA;`T*:6YS=')U;65N=',@97AI<W0@9F]R(&=R;W5P<R!O9B!C
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M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4:&4@
M0V]M<&%N>0T*<V5L;',@9G5E;"UG<F%D92!E=&AA;F]L('1O(&=A<V]L:6YE
M(')E9FEN:6YG(&%N9"!D:7-T<FEB=71I;VX@8V]M<&%N:65S+B!4:&4@0V]M
M<&%N>2!H860@;VYE(&-U<W1O;65R(')E<')E<V5N=&EN9R`R,B4@86YD(#$Y
M)0T*;V8@=&]T86P@;F5T('-A;&5S(&9O<B!T:&4@>65A<G,@96YD960@1&5C
M96UB97(@,S$L(#(P,3$@86YD(#(P,3`L(')E<W!E8W1I=F5L>2X@5&AE($-O
M;7!A;GD@9&ED(&YO="!H879E(&%N>2!O=&AE<B!C=7-T;VUE<G,-"G=I=&@@
M<V%L97,@;V8@,3`E(&]R(&UO<F4@;V8@=&]T86P@;F5T('-A;&5S+CPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^5&AE($-O;7!A;GD-"FAA9"!A8V-O=6YT<R!R96-E:79A8FQE(&1U92!F
M<F]M('1H:7,@8W5S=&]M97(@=&]T86QI;F<@)#8L,C8W+#`P,"!A;F0@)#8L
M,S(V+#`P,"P@<F5P<F5S96YT:6YG(#(R)2!A;F0@,C0E(&]F('1O=&%L(&%C
M8V]U;G1S#0IR96-E:79A8FQE(&%S(&]F($1E8V5M8F5R(#,Q+"`R,#$Q(&%N
M9"`R,#$P+"!R97-P96-T:79E;'DN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4:&4@0V]M<&%N>0T*<'5R
M8VAA<V5S(&9U96PM9W)A9&4@971H86YO;"!A;F0@8V]R;BP@:71S(&QA<F=E
M<W0@8V]S="!C;VUP;VYE;G0@:6X@<')O9'5C:6YG(&5T:&%N;VPL(&9R;VT@
M:71S('-U<'!L:65R<RX@5&AE($-O;7!A;GD@:&%D('!U<F-H87-E<PT*9G)O
M;2!E=&AA;F]L(&%N9"!C;W)N('-U<'!L:65R<R!R97!R97-E;G1I;F<@,3`E
M(&]R(&UO<F4@;V8@=&]T86P@<'5R8VAA<V5S(&)Y('1H92!#;VUP86YY(&EN
M('1H92!P=7)C:&%S92!A;F0@<')O9'5C=&EO;B!O9B!E=&AA;F]L#0IA<R!F
M;VQL;W=S.CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@8V5L;'-P86-I
M;F<],T0P(&-E;&QP861D:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P)2<^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA;&EG;CH@
M8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P=#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O
M;'-P86X],T0X('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^665A<G,-"B`@("!%
M;F1E9"!$96-E;6)E<B`S,2P\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N
M="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N
M=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0S('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L
M9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^,C`Q,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E
M:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C
M96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#,@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B
M;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXR,#$P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@-3@E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4W5P
M<&QI97(@03PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,"4[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,SD\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`X
M)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B4\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q
M)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q,"4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^,S$\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`X)2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B4\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^4W5P<&QI97(@0CPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ
M,SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B4\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,38\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXE/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO
M=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@
M8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E-U<'!L:65R($,\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,3(\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXE/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C$S/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)3PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y);G9E
M;G1O<FEE<SPO=3XF(S$V,#L\+VD^)B,Q-3`[#0I);G9E;G1O<FEE<R!C;VYS
M:7-T960@<')I;6%R:6QY(&]F(&)U;&L@971H86YO;"!A;F0@=6YL96%D960@
M9G5E;"P@86YD(&%R92!V86QU960@870@=&AE(&QO=V5R+6]F+6-O<W0M;W(M
M;6%R:V5T+"!W:71H(&-O<W0@9&5T97)M:6YE9`T*;VX@82!F:7)S="UI;BP@
M9FER<W0M;W5T(&)A<VES+B!);G9E;G1O<GD@8F%L86YC97,@8V]N<VES=&5D
M(&]F('1H92!F;VQL;W=I;F<@*&EN('1H;W5S86YD<RDZ/"]F;VYT/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W`^#0H-"CQT86)L92!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<]
M,T0P('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[('=I9'1H.B`Q,#`E)SX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N
M.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#8@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT
M.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY$96-E;6)E<@T*("`@(#,Q+#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O
M;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD.R!T
M97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O
M;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,#$Q/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0[
M('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$
M,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@
M9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(P,3`\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`U."4G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY&:6YI<VAE9"!G;V]D<SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3@E.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/CDL-#(Y/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$X)3L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ,2PQ,#4\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H
M.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5V]R:R!I;B!P<F]G<F5S
M<SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXT+#(X-#PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXT+#`X-SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY287<@;6%T97)I86QS/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$L,S,T
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C$L,S`X/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A
M<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/D]T:&5R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA;&EG;CH@8V5N=&5R
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$L,#@T/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L
M:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^.#`V/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^5&]T86P\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P=#L@=&5X="UA;&EG;CH@8V5N=&5R
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,38L,3,Q/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`S<'0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C$W+#,P-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N
M;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SX\:3X\=3Y0<F]P97)T>0T*86YD($5Q=6EP;65N=#PO
M=3X\+VD^("8C,34P.R!0<F]P97)T>2!A;F0@97%U:7!M96YT(&%R92!S=&%T
M960@870@8V]S="X@1&5P<F5C:6%T:6]N(&ES(&-O;7!U=&5D('5S:6YG('1H
M92!S=')A:6=H="UL:6YE(&UE=&AO9`T*;W9E<B!T:&4@9F]L;&]W:6YG(&5S
M=&EM871E9"!U<V5F=6P@;&EV97,Z/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQT
M86)L92!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I
M9'1H.B`Q,#`E)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@=&]P
M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#8S)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/D)U:6QD:6YG<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T
M:#H@,S<E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.S0P('EE87)S/"]F;VYT/CPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@=&]P.R!B86-K9W)O=6YD
M+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY&86-I;&ET:65S(&%N9"!P;&%N="!E<75I<&UE;G0\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#LQ,"`F(S$U
M,#L@,C4@>65A<G,\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!T;W`[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3W1H
M97(@97%U:7!M96YT+"!V96AI8VQE<R!A;F0@9G5R;FET=7)E/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[-2`F(S$U,#L@,3`@
M>65A<G,\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
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M;W-T(&]F(&9I>&5D(&%S<V5T<R!S;VQD+`T*;W(@;W1H97)W:7-E(&1I<W!O
M<V5D(&]F+"!A;F0@=&AE(')E;&%T960@86-C=6UU;&%T960@9&5P<F5C:6%T
M:6]N(&]R(&%M;W)T:7IA=&EO;B!A<F4@<F5M;W9E9"!F<F]M('1H92!A8V-O
M=6YT<RP@86YD(&%N>2!R97-U;'1I;F<-"F=A:6YS(&]R(&QO<W-E<R!A<F4@
M<F5F;&5C=&5D(&EN(&-U<G)E;G0@;W!E<F%T:6]N<RX\+V9O;G0^/"]P/@T*
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU
M/DEN=&%N9VEB;&4-"D%S<V5T<SPO=3X\+VD^("8C,34P.R!4:&4@0V]M<&%N
M>2!A;6]R=&EZ97,@:6YT86YG:6)L92!A<W-E=',@=VET:"!D969I;FET92!L
M:79E<R!U<VEN9R!T:&4@<W1R86EG:'0M;&EN92!M971H;V0@;W9E<B!T:&5I
M<B!E<W1A8FQI<VAE9`T*;&EV97,L(&=E;F5R86QL>2`R+3$P('EE87)S+B!!
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M9B!O<&5R871I;VYS+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^1&5F97)R960-"D9I;F%N8VEN
M9R!#;W-T<SPO=3X\+VD^("8C,34P.R!$969E<G)E9"!F:6YA;F-I;F<@8V]S
M=',L('=H:6-H(&%R92!I;F-L=61E9"!I;B!O=&AE<B!A<W-E=',L(&%R92!C
M;W-T<R!I;F-U<G)E9"!T;R!O8G1A:6X@9&5B=`T*9FEN86YC:6YG+"!I;F-L
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M-3$L,#`P(&%N9"`D,2PP,#$L,#`P#0IF;W(@=&AE('EE87)S(&5N9&5D($1E
M8V5M8F5R(#,Q+"`R,#$Q(&%N9"`R,#$P+"!R97-P96-T:79E;'DN(%5N86UO
M<G1I>F5D(&1E9F5R<F5D(&9I;F%N8VEN9R!C;W-T<R!W97)E(&%P<')O>&EM
M871E;'D@)#$L,#$W+#`P,`T*870@1&5C96UB97(@,S$L(#(P,3$@86YD(&%R
M92!R96-O<F1E9"!I;B!O=&AE<B!A<W-E=',@:6X@=&AE(&-O;G-O;&ED871E
M9"!B86QA;F-E('-H965T<RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/D1E<FEV871I=F4-"DEN
M<W1R=6UE;G1S(&%N9"!(961G:6YG($%C=&EV:71I97,\+W4^/"]I/B`F(S$U
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M('-A;&5S+B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^4F5V96YU90T*4F5C;V=N:71I
M;VX\+W4^/"]I/B`F(S$U,#L@5&AE($-O;7!A;GD@<F5C;V=N:7IE<R!R979E
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M<V%L97,@;V8@971H86YO;`T*86YD(')E;&%T960@8V\M<')O9'5C=',N(%1H
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M;G1S(&%N9`T*<F5L871E9"!S86QE<R!O<F1E<G,@96YT97)E9"!I;G1O('=I
M=&@@8W5S=&]M97)S(&5I=&AE<B!V97)B86QL>2!O<B!I;B!W<FET=&5N(&9O
M<FTN(%1H92!S86QE<R!C;VUM:71M96YT<R!A;F0@<F5L871E9"!S86QE<R!O
M<F1E<G,-"G!R;W9I9&4@<75A;G1I=&EE<RP@<')I8VEN9R!A;F0@8V]N9&ET
M:6]N<R!O9B!S86QE<RX@26X@=&AI<R!R96=A<F0L('1H92!#;VUP86YY(&5N
M9V%G97,@:6X@=&AR964@8F%S:6,@='EP97,@;V8@<F5V96YU92!G96YE<F%T
M:6YG#0IT<F%N<V%C=&EO;G,Z/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQT86)L
M92!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I9'1H
M.B`Q,#`E)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@=&]P)SX-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#8P<'@G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#0U<'@[)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q.#,[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V9O;G0M<W1Y;&4Z(&ET86QI8R<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/D%S(&$@<')O9'5C97(N(%-A;&5S(&%S(&$@<')O9'5C97(@8V]N
M<VES="!O9B!S86QE<R!O9B!T:&4@0V]M<&%N>28C,30V.W,-"B`@("!I;G9E
M;G1O<GD@<')O9'5C960@870@=&AE(%!A8VEF:6,@171H86YO;"!0;&%N=',N
M/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\=&%B;&4@8V5L;'-P86-I
M;F<],T0P(&-E;&QP861D:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P)2<^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ('1O<"<^#0H@("`@/'1D('-T
M>6QE/3-$)W=I9'1H.B`V,'!X)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`T-7!X.R<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,3@S.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7-T>6QE
M.B!I=&%L:6,G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!<R!A
M(&UE<F-H86YT+B!386QE<R!A<R!A(&UE<F-H86YT(&-O;G-I<W0@;V8@<V%L
M97,@=&\@8W5S=&]M97)S#0H@("`@=&AR;W5G:"!P=7)C:&%S97,@9G)O;2!T
M:&ER9"UP87)T>2!S=7!P;&EE<G,@:6X@=VAI8V@@=&AE($-O;7!A;GD@;6%Y
M(&]R(&UA>2!N;W0@;V)T86EN('!H>7-I8V%L(&-O;G1R;VP@;V8@=&AE(&5T
M:&%N;VP@;W(-"B`@("!C;RUP<F]D=6-T<RP@:6X@=VAI8V@@<VAI<&UE;G1S
M(&%R92!D:7)E8W1E9"!F<F]M('1H92!#;VUP86YY)B,Q-#8[<R!S=7!P;&EE
M<G,@=&\@:71S('1E<FUI;F%L<R!O<B!D:7)E8W0@=&\@:71S(&-U<W1O;65R
M<PT*("`@(&)U="!F;W(@=VAI8V@@=&AE($-O;7!A;GD@86-C97!T<R!T:&4@
M<FES:R!O9B!L;W-S(&EN('1H92!T<F%N<V%C=&EO;G,N/"]F;VYT/CPO=&0^
M/"]T<CX-"CPO=&%B;&4^#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP
M861D:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ('1O<"<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`V,'!X)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`T-7!X.R<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,3@S.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7-T>6QE.B!I=&%L:6,G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!<R!A;B!A9V5N="X@4V%L
M97,@87,@86X@86=E;G0@8V]N<VES="!O9B!S86QE<R!T;R!C=7-T;VUE<G,@
M=&AR;W5G:`T*("`@('!U<F-H87-E<R!F<F]M('1H:7)D+7!A<G1Y('-U<'!L
M:65R<R!I;B!W:&EC:"!T:&4@<FES:W,@86YD(')E=V%R9',@;V8@:6YV96YT
M;W)Y(&]W;F5R<VAI<"!R96UA:6X@=VET:"!T:&ER9"UP87)T>2!S=7!P;&EE
M<G,-"B`@("!A;F0@=&AE($-O;7!A;GD@<F5C96EV97,@82!P<F5D971E<FUI
M;F5D('-E<G9I8V4@9F5E('5N9&5R('1H97-E('1R86YS86-T:6]N<RX\+V9O
M;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS
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M=')A;G-A8W1I;VXN(%1H92!#;VUP86YY(')E8V]R9&5D("0R+#@U-BPP,#`@
M86YD("0S+#`T,RPP,#`@:6X-"FYE="!S86QE<R!W:&5N(&%C=&EN9R!A<R!A
M;B!A9V5N="!F;W(@=&AE('EE87)S(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q
M(&%N9"`R,#$P+"!R97-P96-T:79E;'DN(%-E=F5R86P@9F%C=&]R<R!A<F4@
M8V]N<VED97)E9`T*=&\@9&5T97)M:6YE('=H971H97(@=&AE($-O;7!A;GD@
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M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!#
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M:&4@<')O9'5C="X\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/E-H:7!P:6YG#0IA;F0@2&%N9&QI
M;F<@0V]S=',\+W4^/"]I/B`F(S$U,#L@4VAI<'!I;F<@86YD(&AA;F1L:6YG
M(&-O<W1S(&%R92!C;&%S<VEF:65D(&%S(&$@8V]M<&]N96YT(&]F(&-O<W0@
M;V8@9V]O9',@<V]L9"!I;B!T:&4@86-C;VUP86YY:6YG#0IC;VYS;VQI9&%T
M960@<W1A=&5M96YT<R!O9B!O<&5R871I;VYS+CPO9F]N=#X\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^0V%L
M:69O<FYI80T*171H86YO;"!0<F]D=6-E<B!);F-E;G1I=F4@4')O9W)A;3PO
M=3X\+VD^("8C,34P.R!4:&4@0V]M<&%N>2!I<R!E;&EG:6)L92!T;R!P87)T
M:6-I<&%T92!I;B!T:&4@0V%L:69O<FYI82!%=&AA;F]L(%!R;V1U8V5R($EN
M8V5N=&EV90T*4')O9W)A;2`H)B,Q-#<[0T5025`F(S$T.#LI('1H<F]U9V@@
M=&AE(%!A8VEF:6,@171H86YO;"!0;&%N=',@;&]C871E9"!I;B!#86QI9F]R
M;FEA+B!4:&4@0T5025`@:7,@82!P<F]G<F%M('1H870@;6%Y('!R;W9I9&4-
M"F9U;F1S('1O(&%N(&5L:6=I8FQE($-A;&EF;W)N:6$@9F%C:6QI='DF(S$U
M,3MU<"!T;R`D,"XR-2!P97(@9V%L;&]N(&]F('!R;V1U8W1I;VXF(S$U,3MW
M:&5N(&-U<G)E;G0@<')O9'5C=&EO;B!C;W)N(&-R=7-H('-P<F5A9',L#0IM
M96%S=7)E9"!A<R!T:&4@9&EF9F5R96YC92!B971W965N('-P96-I9FEE9"!E
M=&AA;F]L(&%N9"!C;W)N(&EN9&5X('!R:6-E<RP@9')O<"!B96QO=R`D,"XU
M-2!P97(@9V%L;&]N+B!4:&4@<')O9W)A;2!M87D@<')O=FED90T*=7`@=&\@
M)#,L,#`P+#`P,"!P97(@<&QA;G0@<&5R('EE87(@;V8@;W!E<F%T:6]N('1H
M<F]U9V@@,C`Q-"X@1F]R(&%N>2!M;VYT:"!I;B!W:&EC:"!A('!A>6UE;G0@
M:7,@;6%D92!B>2!T:&4@0T5025`L('1H92!#;VUP86YY#0IM87D@8F4@<F5Q
M=6ER960@=&\@<F5I;6)U<G-E('1H92!F=6YD<R!W:71H:6X@=&AE('-U8G-E
M<75E;G0@9FEV92!Y96%R<R!F<F]M(&5A8V@@<&%Y;65N="!D871E+"!I9B!T
M:&4@8V]R;B!C<G5S:"!S<')E861S(&5X8V5E9`T*)#$N,#`@<&5R(&=A;&QO
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M<R!A<'!R;V%C:"`D,2XP,`T*<&5R(&=A;&QO;BX@268@:70@8F5C;VUE<R!L
M:6ME;'D@=&AA="!A;6]U;G1S(&UA>2!B92!R96EM8G5R<V%B;&4@8GD@=&AE
M($-O;7!A;GDL('1H92!#;VUP86YY('=I;&P@86-C<G5E(&$@;&EA8FEL:71Y
M(&9O<B!S=6-H#0IP87EM96YT(&%N9"!R96-O9VYI>F4@=&AE(&-O<W1S(&%S
M(&%N(&EN8W)E87-E(&EN(&-O<W0@;V8@9V]O9',@<V]L9"X@5&AE($-O;7!A
M;GD@<F5C;W)D960@)#$L-#@Q+#`P,"!A;F0@)#4Q.2PP,#`@87,@82!R961U
M8W1I;VX-"G1O(&-O<W0@;V8@9V]O9',@<V]L9"!F;W(@=&AE('EE87)S(&5N
M9&5D($1E8V5M8F5R(#,Q+"`R,#$Q(&%N9"`R,#$P+"!R97-P96-T:79E;'DL
M(&EN(')E<W!E8W0@;V8@0T5025`@<&%Y;65N=',@<F5C96EV960N(%1O#0ID
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M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU
M/E-T;V-K+4)A<V5D#0I#;VUP96YS871I;VX\+W4^/"]I/B`F(S$U,#L@5&AE
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M:&4@>65A<G,@96YD960@1&5C96UB97(@,S$L(#(P,3$-"F%N9"`R,#$P+B!4
M:&4@0V]M<&%N>2!R96-O9VYI>F5S('-T;V-K+6)A<V5D(&-O;7!E;G-A=&EO
M;B!E>'!E;G-E(&%S(&$@8V]M<&]N96YT(&]F('-E;&QI;F<L(&=E;F5R86P@
M86YD(&%D;6EN:7-T<F%T:79E(&5X<&5N<V5S#0II;B!T:&4@8V]N<V]L:61A
M=&5D('-T871E;65N=',@;V8@;W!E<F%T:6]N<RX\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/DEM
M<&%I<FUE;G0-"F]F($QO;F<M3&EV960@07-S971S/"]U/CPO:3X@)B,Q-3`[
M(%1H92!#;VUP86YY(&%S<V5S<V5S('1H92!I;7!A:7)M96YT(&]F(&QO;F<M
M;&EV960@87-S971S+"!I;F-L=61I;F<@<')O<&5R='D@86YD(&5Q=6EP;65N
M=`T*86YD('!U<F-H87-E9"!I;G1A;F=I8FQE<R!S=6)J96-T('1O(&%M;W)T
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M;FEF:6-A;G1L>2!A9F9E8W1E9`T*8GD@9G5T=7)E(&-H86YG97,@:6X@;6%R
M:V5T(&-O;F1I=&EO;G,L('1H92!E8V]N;VUI8R!E;G9I<F]N;65N="P@:6YC
M;'5D:6YG(&EN9FQA=&EO;BP@86YD('!U<F-H87-I;F<@9&5C:7-I;VYS(&]F
M('1H92!#;VUP86YY)B,Q-#8[<PT*8W5S=&]M97)S+CPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J
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M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H
M92!#;VUP86YY#0IA8V-O=6YT<R!F;W(@=6YC97)T86EN='D@:6X@:6YC;VUE
M('1A>&5S('5S:6YG(&$@='=O+7-T97`@87!P<F]A8V@@=&\@<F5C;V=N:7II
M;F<@86YD(&UE87-U<FEN9R!U;F-E<G1A:6X@=&%X('!O<VET:6]N<RX@5&AE
M(&9I<G-T#0IS=&5P(&ES('1O(&5V86QU871E('1H92!T87@@<&]S:71I;VX@
M9F]R(')E8V]G;FET:6]N(&)Y(&1E=&5R;6EN:6YG('=H971H97(@:70@:7,@
M;6]R92!L:6ME;'D@=&AA;B!N;W0@=&AA="!T:&4@<&]S:71I;VX@=VEL;`T*
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M97-P96-T:79E;'DN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE
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M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY4:&4@9F]L;&]W:6YG#0IT86)L97,@8V]M<'5T92!B87-I8R!A;F0@9&EL
M=71E9"!E87)N:6YG<R!P97(@<VAA<F4@*&EN('1H;W5S86YD<RP@97AC97!T
M('!E<B!S:&%R92!D871A*3H\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE
M(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN9STS1#`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@=VED=&@Z
M(#$P,"4G/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O
M;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#$P('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG
M;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^665A
M<@T*("`@($5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L
M9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X]
M,T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED
M)SX\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!C96YT97(G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\8CY);F-O;64-"B`@
M("`@("`@/"]B/CPO9F]N=#X\+W`^#0H@("`@("`@(#QP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/CQB/DYU;65R871O<CPO8CX\+V9O;G0^/"]P/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG
M:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/CQB/E-H87)E<PT*("`@("`@("`\+V(^/"]F
M;VYT/CPO<#X-"B`@("`@("`@/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^/&(^1&5N;VUI;F%T;W(\+V(^/"]F;VYT/CPO<#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SX\8CY097(M4VAA<F4-"B`@("`@("`@/"]B/CPO9F]N=#X\+W`^
M#0H@("`@("`@(#QP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQB/D%M
M;W5N=#PO8CX\+V9O;G0^/"]P/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO
M=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3F5T(&EN8V]M
M92!A='1R:6)U=&5D('1O(%!A8VEF:6,@171H86YO;"P@26YC+CPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,RPP-S0\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,CX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/E!R969E<G)E9"!S=&]C:R!D:79I9&5N
M9',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Q+#(V
M-3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS
M1#(@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T
M<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K
M9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M
M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M0F%S:6,@:6YC;VUE('!E<B!S:&%R93H\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&-O;'-P86X],T0R/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T
M;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@-3@E.R!P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^26YC;VUE(&%V86EL86)L92!T;R!C
M;VUM;VX@<W1O8VMH;VQD97)S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q,24[('!A9&1I;F<M8F]T=&]M.B`S<'0[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,2PX,#D\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W=I9'1H.B`Q,24[('!A9&1I;F<M8F]T=&]M.B`S<'0[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,S,L-S,S/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@
M,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#$Q)3L@8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O
M=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXP+C`U/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`S
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E=A<G)A;G1S/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,34Q.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXQ.30\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3W!T:6]N
M<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3$[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O
M;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C4W/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO
M=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M
M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY$:6QU=&5D
M(&EN8V]M92!P97(@<VAA<F4Z/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA
M;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/DEN8V]M92!A=F%I;&%B;&4@=&\@8V]M
M;6]N('-T;V-K:&]L9&5R<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,2PX,#D\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^,S,L.3@T/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXP+C`U/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\=&%B;&4@8V5L
M;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P
M)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@8V]L<W!A;CTS1#$P('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA
M;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M665A<@T*("`@($5N9&5D($1E8V5M8F5R(#,Q+"`R,#$P/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P=#L@9F]N="UW96EG:'0Z(&)O
M;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS
M1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[
M('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^/&(^26YC;VUE#0H@("`@("`@(#PO8CX\+V9O;G0^/"]P/@T*
M("`@("`@("`\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!C
M96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\8CY.=6UE
M<F%T;W(\+V(^/"]F;VYT/CPO<#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P=#L@9F]N="UW96EG
M:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#-P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L
M<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T
M(&1O=6)L92<^/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&(^4VAA
M<F5S#0H@("`@("`@(#PO8CX\+V9O;G0^/"]P/@T*("`@("`@("`\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\8CY$96YO;6EN871O<CPO8CX\+V9O
M;G0^/"]P/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,W!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T.R!F;VYT
M+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\8CY097(M4VAA<F4-"B`@("`@
M("`@/"]B/CPO9F]N=#X\+W`^#0H@("`@("`@(#QP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/CQB/D%M;W5N=#PO8CX\+V9O;G0^/"]P/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY.970@:6YC;VUE(&%T
M=')I8G5T960@=&\@4&%C:69I8R!%=&AA;F]L+"!);F,N/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXW,RPX.3(\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,CX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/E!R969E<G)E9"!S=&]C:R!D:79I9&5N9',\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@R+#@T-SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O
M=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I
M9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0F%S
M:6,@:6YC;VUE('!E<B!S:&%R93H\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0R/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[
M(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@-3@E.R!P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^26YC;VUE(&%V86EL86)L92!T;R!C;VUM
M;VX@<W1O8VMH;VQD97)S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q,24[('!A9&1I;F<M8F]T=&]M.B`S<'0[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-S$L,#0U/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=W:61T
M:#H@,24[('!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,3$E.R!P861D:6YG+6)O='1O;3H@,W!T.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$P
M+#4Q-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[(&)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q,24[(&)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B
M;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^-BXW-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,W!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY#;VYV97)T:6)L92!N;W1E<SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXV-3<\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,2PU,C0\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E!R969E<G)E9"!S=&]C:R!D:79I9&5N9',\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^,BPX-#<\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^,2PQ.3@\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O
M;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E=A<G)A
M;G1S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U
M,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@
M<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^,30Q/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A
M<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U
M;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D1I
M;'5T960@:6YC;VUE('!E<B!S:&%R93H\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DEN8V]M92!A=F%I;&%B;&4@=&\@
M8V]M;6]N('-T;V-K:&]L9&5R<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B
M;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^-S0L-30Y/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O
M=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$S+#,W-SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-2XU-SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4:&4@0V]M<&%N>0T*
M:&%S(&%C8W)U960@86YD('5N<&%I9"!D:79I9&5N9',@;V8@)#<L,S$U+#`P
M,"P@;W(@)#`N,#@@<&5R('-H87)E(&]F(&-O;6UO;B!S=&]C:R!O=71S=&%N
M9&EN9R!A<R!O9B!$96-E;6)E<B`S,2P@,C`Q,2P@:6X@<F5S<&5C=`T*;V8@
M:71S(%-E<FEE<R!"($-U;75L871I=F4@0V]N=F5R=&EB;&4@4')E9F5R<F5D
M(%-T;V-K("@F(S$T-SM397)I97,@0B!0<F5F97)R960@4W1O8VLF(S$T.#LI
M+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^5&AE<F4@=V5R90T*86X@86=G<F5G871E(&]F(#@Q-2PP,#`@
M86YD(#$L-C8V+#`P,"!P;W1E;G1I86QL>2!D:6QU=&EV92!S:&%R97,@9G)O
M;2!C;VYV97)T:6)L92!S96-U<FET:65S(&]U='-T86YD:6YG(&%S(&]F($1E
M8V5M8F5R(#,Q+"`R,#$Q#0IA;F0@,C`Q,"P@<F5S<&5C=&EV96QY+B!4:&5S
M92!C;VYV97)T:6)L92!S96-U<FET:65S('=E<F4@;F]T(&-O;G-I9&5R960@
M:6X@8V%L8W5L871I;F<@9&EL=71E9"!I;F-O;64@<&5R(&-O;6UO;B!S:&%R
M92!F;W(@=&AE#0IY96%R<R!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@
M,C`Q,"P@87,@=&AE:7(@969F96-T('=O=6QD(&)E(&%N=&DM9&EL=71I=F4N
M/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SX\:3X\=3Y&:6YA;F-I86P-"DEN<W1R=6UE;G1S/"]U/CPO:3X@
M)B,Q-3`[(%1H92!C87)R>6EN9R!V86QU97,@;V8@8V%S:"!A;F0@8V%S:"!E
M<75I=F%L96YT<RP@86-C;W5N=',@<F5C96EV86)L92P@86-C;W5N=',@<&%Y
M86)L92!A;F0@86-C<G5E9`T*;&EA8FEL:71I97,@87)E(')E87-O;F%B;&4@
M97-T:6UA=&5S(&]F('1H96ER(&9A:7(@=F%L=65S(&)E8V%U<V4@;V8@=&AE
M('-H;W)T(&UA='5R:71Y(&]F('1H97-E(&ET96US+B!4:&4@0V]M<&%N>2!R
M96-O<F1E9"!A=`T*9F%I<B!V86QU92!I=',@8V]N=F5R=&EB;&4@;F]T97,@
M86YD('=A<G)A;G1S+B!4:&4@0V]M<&%N>2!B96QI979E<R!T:&4@8V%R<GEI
M;F<@=F%L=65S(&]F(&ET<R!O=&AE<B!N;W1E<R!P87EA8FQE(&%N9"!L;VYG
M+71E<FT-"F1E8G0@87!P<F]X:6UA=&4@9F%I<B!V86QU92!B96-A=7-E('1H
M92!I;G1E<F5S="!R871E<R!O;B!T:&5S92!I;G-T<G5M96YT<R!A<F4@=F%R
M:6%B;&4N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
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M(&YO=&5S(&%N9`T*=V%R<F%N=',L(&%L;&]W86YC92!F;W(@9&]U8G1F=6P@
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M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/E-U8G-E<75E;G0-
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M<&]R="!W:71H('1H92!396-U<FET:65S(&%N9`T*17AC:&%N9V4@0V]M;6ES
M<VEO;BX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/CQI/CQU/E)E8VQA<W-I9FEC871I;VYS#0H\+W4^/"]I
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M<RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/CQI/CQU/E)E8V5N=`T*06-C;W5N=&EN9R!0<F]N;W5N8V5M
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M96%S=7)E;65N=`T*86YD($1I<V-L;W-U<F4@4F5Q=6ER96UE;G1S(&EN(%4N
M4RX@1T%!4"!A;F0@24924SPO:3XN($%352!.;RX@,C`Q,2TP-"!W87,@:7-S
M=65D(&-O;F-U<G)E;G1L>2!W:71H($EN=&5R;F%T:6]N86P@1FEN86YC:6%L
M(%)E<&]R=&EN9PT*4W1A;F1A<F1S("@F(S$T-SM)1E)3)B,Q-#@[*2`Q,R`\
M:3Y&86ER(%9A;'5E($UE87-U<F5M96YT<SPO:3XL('1O('!R;W9I9&4@;&%R
M9V5L>2!I9&5N=&EC86P@9W5I9&%N8V4@86)O=70@9F%I<B!V86QU92!M96%S
M=7)E;65N=`T*86YD(&1I<V-L;W-U<F4@<F5Q=6ER96UE;G1S+B!4:&4@;F5W
M('-T86YD87)D<R!D;R!N;W0@97AT96YD('1H92!U<V4@;V8@9F%I<B!V86QU
M92!B=70L(')A=&AE<BP@<')O=FED92!G=6ED86YC92!A8F]U="!H;W<@9F%I
M<@T*=F%L=64@<VAO=6QD(&)E(&%P<&QI960@=VAE<F4@:70@86QR96%D>2!I
M<R!R97%U:7)E9"!O<B!P97)M:71T960@=6YD97(@24924R!O<B!5+E,N($=!
M05`N(%1H:7,@<W1A;F1A<F0@:7,@969F96-T:79E('!R;W-P96-T:79E;'D-
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M9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H
M=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T7S8Q,SAB,C-C7S-E,F1?-&,U.5\Y
M.3(X7S$Y.31C9#DX8SDT,0T*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#
M.B\V,3,X8C(S8U\S93)D7S1C-3E?.3DR.%\Q.3DT8V0Y.&,Y-#$O5V]R:W-H
M965T<R]3:&5E=#`X+FAT;6P-"D-O;G1E;G0M5')A;G-F97(M16YC;V1I;F<Z
M('%U;W1E9"UP<FEN=&%B;&4-"D-O;G1E;G0M5'EP93H@=&5X="]H=&UL.R!C
M:&%R<V5T/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-
M151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT
M+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V
M87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#
M;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B
M;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%4D<^#0H@("`@("`\='(^#0H@
M("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R
M/CQS=')O;F<^,BX@5D%224%"3$4@24Y415)%4U0@14Y42519/&)R/CPO<W1R
M;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q
M/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@
M8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@,S`L
M(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S
M,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M/'-T<F]N9SY687)I86)L92!);G1E<F5S="!%;G1I='D\+W-T<F]N9SX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^,BX@5D%224%"3$4@24Y4
M15)%4U0@14Y42519/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
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M.W,@<'5R8VAA<V4@;V8@:71S(&EN:71I86P@,C`E(&]W;F5R<VAI<"!I;G1E
M<F5S="!I;B!.97<@4$4-"DAO;&1C;R!O;B!/8W1O8F5R(#8L(#(P,3`L('1H
M92!#;VUP86YY+"!T:')O=6=H(&ET<R!O=VYE<G-H:7`@:6YT97)E<W0L(&AA
M9"!A;B!O8FQI9V%T:6]N('1O(&%B<V]R8B!L;W-S97,@86YD(')E8V5I=F4@
M8F5N969I=',-"G1H870@8V]U;&0@<&]T96YT:6%L;'D@8F4@<VEG;FEF:6-A
M;G0@=&\@3F5W(%!%($AO;&1C;RX@07,@82!R97-U;'0L('1H92!#;VUP86YY
M('1H96X@8F5C86UE('1H92!P<FEM87)Y(&)E;F5F:6-I87)Y(&]F($YE=R!0
M10T*2&]L9&-O(&%N9"!B96=A;B!C;VYS;VQI9&%T:6YG('1H92!F:6YA;F-I
M86P@<F5S=6QT<R!O9B!.97<@4$4@2&]L9&-O+B!/;B!.;W9E;6)E<B`R.2P@
M,C`Q,2P@=&AE($-O;7!A;GD@<'5R8VAA<V5D(&%N(&%D9&ET:6]N86P-"C<E
M(&]W;F5R<VAI<"!I;G1E<F5S="!I;B!.97<@4$4@2&]L9&-O(&9O<B`D-"PU
M,#(L,#`P(&EN(&-A<V@N($]N($1E8V5M8F5R(#$Y+"`R,#$Q+"!T:&4@0V]M
M<&%N>2!P=7)C:&%S960@86YO=&AE<B`W)2!O=VYE<G-H:7`-"FEN=&5R97-T
M(&EN($YE=R!012!(;VQD8V\@9F]R("0T+#8Q-2PP,#`@:6X@8V%S:"X\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^3VX@2G5L>2`Q,RP-"C(P,3(L('1H92!#;VUP86YY('!U
M<F-H87-E9"!A;B!A9&1I=&EO;F%L(#,S)2!O=VYE<G-H:7`@:6YT97)E<W0@
M:6X@3F5W(%!%($AO;&1C;R!F;W(@)#(P+#`P,"PP,#`@8GD@<&%Y:6YG("0Q
M,"PP,#`L,#`P(&EN(&-A<V@-"F%N9"!I<W-U:6YG("0Q,"PP,#`L,#`P(&EN
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M;VQI9&%T960-"F)A;&%N8V4@<VAE970@8GD@)#(W+#8T-BPP,#`@86YD(')E
M8V]R9&5D('1H92!D:69F97)E;F-E(&)E='=E96X@=&AE(&9A:7(@=F%L=64@
M;V8@=&AE('!U<F-H87-E(&%N9"!T:&4@<')I8V4@<&%I9"!B>2!T:&4@0V]M
M<&%N>0T*;V8@)#<L-C0V+#`P,"P@=&\@861D:71I;VYA;"!P86ED+6EN(&-A
M<&ET86PN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#$R<'0@,"`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^57!O;B!T:&4-"F-L;W-I;F<@;V8@=&AE($-O
M;7!A;GDF(S$T-CMS('!U<F-H87-E(&]F('1H92!A9&1I=&EO;F%L(#,S)2!O
M=VYE<G-H:7`@:6YT97)E<W0L(&ET<R!T;W1A;"!O=VYE<G-H:7`@:6YT97)E
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M;VT-"C,T)2!T;R`V-R4L('1H=7,@8VAA;F=I;F<@=&AE(&YE="!I;F-O;64@
M;W(@;&]S<R!A='1R:6)U=&%B;&4@=&\@4&%C:69I8R!%=&AA;F]L(&%F=&5R
M(')E9'5C:6YG('1H92!N970@:6YC;VUE(&]R(&QO<W,@871T<FEB=71A8FQE
M#0IT;R!T:&4@;F]N8V]N=')O;&QI;F<@:6YT97)E<W1S(&%N9"!T:&4@0V]M
M<&%N>28C,30V.W,@96%R;FEN9W,@<&5R('-H87)E+B!&;W(@=&AE(&YI;F4@
M;6]N=&AS(&5N9&5D(%-E<'1E;6)E<B`S,"P@,C`Q,B!A;F0@,C`Q,2P-"FAA
M9"!T:&4@0V]M<&%N>2!H96QD(&$@-C<E(&]W;F5R<VAI<"!I;G1E<F5S="!I
M;B!.97<@4$4@2&]L9&-O(&%N9"!I<W-U960@,C@L,#`P+#`P,"!S:&%R97,@
M;V8@8V]M;6]N('-T;V-K('5N9&5R('1H92!F:6YA;F-I;F<-"FYO=&5D(&%B
M;W9E+"!T:&4@0V]M<&%N>28C,30V.W,@<F5P;W)T960@<F5S=6QT<R!W;W5L
M9"!H879E(&AA9"!T:&4@9F]L;&]W:6YG('!R;V9O<FUA(&EM<&%C="!F;W(@
M=&AE(&YI;F4@;6]N=&AS(&5N9&5D(%-E<'1E;6)E<@T*,S`L(#(P,3(@86YD
M(#(P,3$L(&YE="!L;W-S(&%V86EL86)L92!T;R!C;VUM;VX@<W1O8VMH;VQD
M97)S('=O=6QD(&AA=F4@8F5E;B`D,C,L,C@X+#`P,"!A;F0@)#$L,S$Q+#`P
M,"P@<F5S<&5C=&EV96QY+"!A;F0@;&]S<PT*<&5R('-H87)E('=O=6QD(&AA
M=F4@8F5E;B`D,"XR,2!A;F0@)#`N,#,L(')E<W!E8W1I=F5L>2X\+V9O;G0^
M/"]P/@T*#0H-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E1H92!C87)R>6EN9PT*=F%L=65S(&%N9"!C;&%S<VEF
M:6-A=&EO;B!O9B!A<W-E=',@=&AA="!A<F4@8V]L;&%T97)A;"!F;W(@=&AE
M(&]B;&EG871I;VYS(&]F($YE=R!012!(;VQD8V\@8V]N<VES=&5D(&]F('1H
M92!F;VQL;W=I;F<@*&EN('1H;W5S86YD<RDZ/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E
M;&QP861D:6YG/3-$,"!C96QL<W!A8VEN9STS1#`@86QI9VX],T1C96YT97(@
M<W1Y;&4],T0G8F]R9&5R+6-O;&QA<'-E.B!C;VQL87!S93L@=VED=&@Z(#@P
M)3L@9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS
M<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L
M:60[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/E-E<'1E;6)E<B`S,"P@,C`Q,CPO9F]N=#X\+W1D/CQT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY$96-E;6)E<B`S,2P@,C`Q,3PO9F]N
M=#X\+W1D/CQT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT
M+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S
M."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#0V)3L@=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-A
M<V@@86YD(&-A<V@@97%U:79A;&5N=',\+V9O;G0^/"]T9#X\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B0\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=VED=&@Z(#$S)3L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXY,CPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=W:61T:#H@,24[('1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^
M/"]T9#X\=&0@<W1Y;&4],T0G=VED=&@Z(#$S)3L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR+#`W,#PO9F]N
M=#X\+W1D/CQT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/D]T:&5R(&-U<G)E;G0@87-S971S/"]F;VYT/CPO=&0^/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/C$S+#,V.#PO9F]N=#X\+W1D/CQT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C$T+#,R,#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I
M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E!R;W!E<G1Y(&%N9"!E<75I<&UE
M;G0\+V9O;G0^/"]T9#X\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,30X+#,Y,#PO
M9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C$U-2PU,C,\+V9O;G0^/"]T9#X\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^3W1H97(@87-S971S/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P
M="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXQ+#,V.#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT
M+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#8Y,SPO9F]N=#X\+W1D/CQT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T
M;VTZ(#(N-7!T.R!P861D:6YG+6QE9G0Z(#$Q<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY4;W1A;"!A<W-E=',\+V9O;G0^/"]T9#X\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B0\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$V,RPR,3@\+V9O;G0^/"]T9#X\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C
M:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ-S,L
M-C`V/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R
M+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H-"@T*#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V
M97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H
M,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#0V)3L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/D-U<G)E;G0@;&EA8FEL:71I97,\+V9O;G0^/"]T9#X\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B0\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=VED=&@Z(#$S)3L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXV+#`V,SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=W:61T:#H@,24[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=VED=&@Z(#(E
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O
M;G0^/"]T9#X\=&0@<W1Y;&4],T0G=VED=&@Z(#$S)3L@=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXS+#`V-#PO
M9F]N=#X\+W1D/CQT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/DQO;F<M=&5R;2!D96)T+"!I;F-L=61I;F<@8W5R<F5N
M="!P;W)T:6]N/"]F;VYT/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CDQ
M+#$X-CPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C<S+#(U-CPO9F]N=#X\+W1D
M/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D]T:&5R(&QI86)I;&ET:65S/"]F
M;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T
M('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ.34\+V9O;G0^
M/"]T9#X\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L
M86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,34X
M/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E
M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN
M9RUB;W1T;VTZ(#(N-7!T.R!P861D:6YG+6QE9G0Z(#$Q<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4;W1A;"!L:6%B:6QI=&EE<SPO9F]N
M=#X\+W1D/CQT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^.3<L-#0T/"]F
M;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/CQT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^-S8L-#<X/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^/"]T
M86)L93X-"@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
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M/CPO<#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
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M($AO;&1C;R!A;F0L(&%S(&$@<F5S=6QT+`T*:70@=V%S(&1E=&5R;6EN960@
M=&AA="!T:&4@0V]M<&%N>2!W87,@;F]T($YE=R!012!(;VQD8V\F(S$T-CMS
M('!R:6UA<GD@8F5N969I8VEA<GDN(%5P;VX@=&AE($-O;7!A;GDF(S$T-CMS
M('!U<F-H87-E(&]F(&ET<PT*,C`E(&]W;F5R<VAI<"!I;G1E<F5S="!I;B!.
M97<@4$4@2&]L9&-O(&]N($]C=&]B97(@-BP@,C`Q,"P@=&AE($-O;7!A;GDL
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M(&]F($YE=R!012!(;VQD8V\N(%1H92!#;VUP86YY('!U<F-H87-E9`T*:71S
M(#(P)2!O=VYE<G-H:7`@:6YT97)E<W0@:6X@3F5W(%!%($AO;&1C;R!F<F]M
M(&$@;G5M8F5R(&]F($YE=R!012!(;VQD8V\F(S$T-CMS(&]W;F5R<RX@5&AE
M($-O;7!A;GD@<&%I9"`D,C,L,C@P+#`P,"!I;B!C87-H#0IF;W(@:71S(#(P
M)2!I;G1E<F5S="P@=VAI8V@@=V%S(&%P<')O>&EM871E;'D@)#$L-38V+#`P
M,"!B96QO=R!T:&4@9F%I<B!V86QU92!O9B!.97<@4$4@2&]L9&-O+"!W:&EC
M:"!W87,@<F5C;V=N:7IE9"!A<R!A(&)A<F=A:6X-"G!U<F-H87-E(&EN(&]T
M:&5R(&EN8V]M92`H97AP96YS92DL(&YE="P@:6X@=&AE(&-O;G-O;&ED871E
M9"!S=&%T96UE;G1S(&]F(&]P97)A=&EO;G,@9F]R('1H92!Y96%R(&5N9&5D
M($1E8V5M8F5R(#,Q+"`R,#$P+B!4:&4-"F)A<F=A:6X@<'5R8VAA<V4@=V%S
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M:&4@5DE%+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^5&AE(&9O;&QO=VEN9PT*=&%B;&4@<W5M;6%R:7IE
M<R!T:&4@0V]M<&%N>28C,30V.W,@97-T:6UA=&5D(&9A:7(@=F%L=65S(&]F
M($YE=R!012!(;VQD8V\F(S$T-CMS('1A;F=I8FQE(&%N9"!I;G1A;F=I8FQE
M(&%S<V5T<R!A;F0@;&EA8FEL:71I97,-"F%C<75I<F5D("AI;B!T:&]U<V%N
M9',I.CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@8V5L;'-P86-I;F<]
M,T0P(&-E;&QP861D:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P)2<^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`X-B4G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY#87-H/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^,RPW.#8\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^3W1H97(@8W5R<F5N="!A<W-E=',\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,C`L,S,V/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A
M<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E!R;W!E<G1Y(&%N9"!E<75I
M<&UE;G0\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,3<P+#0X-CPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^3W1H97(@87-S971S/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$L,3DU/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M5')A9&5N86UE/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXX,#`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@=VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4;W1A
M;"!!<W-E=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C$Y-BPV,#,\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T
M<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K
M9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY4;W1A;"!C=7)R96YT(&QI86)I;&ET:65S/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B@X+#4R,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N
M;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/BD\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L
M:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3&]N9R!T97)M
M(&1E8G0\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#4Q+#(W.3PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E
M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3W1H97(@;F]N8W5R<F5N
M="!L:6%B:6QI=&EE<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^*#$R+#4W-3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/E1O=&%L($QI86)I;&ET:65S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXH-S(L,S<V/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T
M<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K
M9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/DYO;F-O;G1R;VQL:6YG(&EN=&5R97-T(&EN('9A<FEA8FQE(&EN=&5R
M97-T(&5N=&ET>3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^*#DY+#,X,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY.970@
M07-S971S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR-"PX
M-#8\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J
M=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3VX@3F]V
M96UB97(-"C(Y+"`R,#$Q+"!T:&4@0V]M<&%N>2!P=7)C:&%S960@86X@861D
M:71I;VYA;"`W)2!O=VYE<G-H:7`@:6YT97)E<W0@:6X@3F5W(%!%($AO;&1C
M;R!F;W(@)#0L-3`R+#`P,"!I;B!C87-H+B!/;B!$96-E;6)E<B`Q.2P@,C`Q
M,2P-"G1H92!#;VUP86YY('!U<F-H87-E9"!A;F]T:&5R(#<E(&]W;F5R<VAI
M<"!I;G1E<F5S="!I;B!.97<@4$4@2&]L9&-O(&9O<B`D-"PV,34L,#`P(&EN
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M8F%L86YC92!S:&5E=',@8GD@86X@86=G<F5G871E("0Q-2PU.#4L,#`P(&%N
M9"!R96-O<F1E9"!T:&4@9&EF9F5R96YC92!O9@T*)#8L-#8X+#`P,"P@=VAI
M8V@@<F5P<F5S96YT<R!T:&4@9F%I<B!V86QU92!O9B!T:&5S92!P=7)C:&%S
M97,@86)O=F4@=&AE('!R:6-E('!A:60@8GD@=&AE($-O;7!A;GDL('1O(&%D
M9&ET:6]N86P@<&%I9"UI;B!C87!I=&%L#0IO;B!T:&4@8V]N<V]L:61A=&5D
M(&)A;&%N8V4@<VAE971S+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4VEN8V4@=&AE#0I#;VUP86YY)B,Q
M-#8[<R!O<FEG:6YA;"!P=7)C:&%S92!O9B!I=',@,C`E(&EN=&5R97-T(&EN
M($YE=R!012!(;VQD8V\L('1H92!#;VUP86YY(&AA<R!R96-O9VYI>F5D(&%P
M<')O>&EM871E;'D@)#4Q,BPT.3<L,#`P#0IA;F0@)#<R+#@R-RPP,#`@:6X@
M;F5T('-A;&5S(&%N9"`D-BPR,C8L,#`P(&EN(&YE="!I;F-O;64@86YD("0U
M+#<R-RPP,#`@:6X@;F5T(&QO<W-E<R!A='1R:6)U=&5D('1O($YE=R!012!(
M;VQD8V\@9F]R('1H92!Y96%R<PT*96YD960@1&5C96UB97(@,S$L(#(P,3$@
M86YD(#(P,3`L(')E<W!E8W1I=F5L>2X@5&AE($-O;7!A;GD@;W=N960@=&AE
M(%!L86YT($]W;F5R<R!A;F0@8V]N<V]L:61A=&5D('1H96ER(')E<W5L=',@
M9F]R('1H92!F:7)S=`T*:&%L9B!O9B`R,#$P+"!R97-U;'1I;F<@:6X@=&AE
M($-O;7!A;GD@<F5P;W)T:6YG('1H92!R97-U;'1S(&]F('1H92!0;&%N="!/
M=VYE<G,@9F]R('1H<F5E(&]F('1H92!F;W5R(&9I<V-A;"!Q=6%R=&5R<R!I
M;B`R,#$P+@T*1F]R('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$P
M+"!T:&4@0V]M<&%N>2!R97!O<G1E9"!N970@<V%L97,@;V8@)#,R."PS,S(L
M,#`P(&%N9"!N970@:6YC;VUE(&]F("0W,RPX.3(L,#`P(&%T=')I8G5T960-
M"G1O(%!A8VEF:6,@171H86YO;"X@2&%D('1H92!#;VUP86YY(&-O;G-O;&ED
M871E9"!T:&4@<F5S=6QT<R!O9B!.97<@4$4@2&]L9&-O(&9O<B!A;&P@;V8@
M,C`Q,"P@=&AE($-O;7!A;GD@=V]U;&0@:&%V92!R97!O<G1E9`T*;F5T('-A
M;&5S(&]F(&%P<')O>&EM871E;'D@)#,X,RPY-38L,#`P(&%N9"!N970@:6YC
M;VUE(&]F("0W,"PS,S`L,#`P(&%T=')I8G5T960@=&\@4&%C:69I8R!%=&AA
M;F]L+B!"96-A=7-E('1H92!0;&%N="!/=VYE<G,-"G=E<F4@8V]N<V]L:61A
M=&5D('=I=&@@=&AE($-O;7!A;GDF(S$T-CMS(')E<W5L=',@9F]R(&%L;"!O
M9B`R,#$Q+"!T:&5R92!A<F4@;F\@9&EF9F5R96YC97,@=VET:"!T:&4@0V]M
M<&%N>28C,30V.W,@<F5P;W)T960-"G)E<W5L=',@9F]R('1H870@>65A<BX\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/E1H92!#;VUP86YY)B,Q-#8[<PT*86-Q=6ES:71I;VX@;V8@:71S
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M<75I<VET:6]N+`T*=&AE($-O;7!A;GD@:&%S(&YO="!P<F]V:61E9"!A;GD@
M861D:71I;VYA;"!S=7!P;W)T('1O($YE=R!012!(;VQD8V\@8F5Y;VYD('1H
M92!T97)M<R!O9B!T:&4@86=R965M96YT<R!D97-C<FEB960@8F5L;W<N/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY4:&4@0V]M<&%N>2P-"F1I<F5C=&QY(&]R('1H<F]U9V@@;VYE(&]F
M(&ET<R!S=6)S:61I87)I97,L(&AA<R!E;G1E<F5D(&EN=&\@=&AE(&UA;F%G
M96UE;G0@86YD(&UA<FME=&EN9R!A9W)E96UE;G1S(&1E<V-R:6)E9"!B96QO
M=RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/CQI/CQU/D%S<V5T#0I-86YA9V5M96YT($%G<F5E;65N=#PO
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M:&4@<')O9'5C=&EO;B!F86-I;&ET:65S+CPO9F]N=#X\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
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M92!A<F4@<W5F9FEC:65N="!F=6YD<R!A9'9A;F-E9`T*8GD@=&AE(%!L86YT
M($]W;F5R<R!T;R!C;W9E<B!T:&4@87-S;V-I871E9"!C;W-T<R!A;F0@97AP
M96YS97,N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY!<R!C;VUP96YS871I;VX-"F9O<B!P<F]V:61I;F<@
M=&AE('-E<G9I8V5S('5N9&5R('1H92!!34$L('1H92!#;VUP86YY(&ES('!A
M:60@)#<U+#`P,"!P97(@;6]N=&@@9F]R(&5A8V@@<')O9'5C=&EO;B!F86-I
M;&ET>2!T:&%T(&ES(&]P97)A=&EO;F%L#0IA;F0@)#0P+#`P,"!P97(@;6]N
M=&@@9F]R(&5A8V@@<')O9'5C=&EO;B!F86-I;&ET>2!T:&%T(&ES(&ED;&5D
M+B!);B!A9&1I=&EO;B!T;R!T:&4@;6]N=&AL>2!F964L(&EF(&1U<FEN9R!A
M;GD@<VEX+6UO;G1H('!E<FEO9`T**&UE87-U<F5D(&]N(%-E<'1E;6)E<B`S
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M86YC92!B;VYU<R!E<75A;"!T;R`S)2!O9B!T:&4@:6YC<F5M96YT(&)Y('=H
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M;R!N;W0@;W!E<F%T92!A="!A(&UI;FEM=6T@879E<F%G92!Y:65L9"!O9B`R
M+C<P(&=A;&QO;G,@;V8@9&5N871U<F5D(&5T:&%N;VP@<&5R(&)U<VAE;`T*
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M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY4:&4@04U!(&AA9`T*86X@:6YI=&EA;"!T97)M(&]F('-I>"!M;VYT:',@
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M<W0@-C`@9&%Y<R!P<FEO<B!N;W1I8V4@;V8@<W5C:"!T97)M:6YA=&EO;BX-
M"D]N($IU;F4@,S`L(#(P,3$L('1H92!!34$@=V%S(&%M96YD960@86YD(&5X
M=&5N9&5D(&9O<B!O;F4@>65A<BX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!#;VUP86YY#0IR96-O
M<F1E9"!R979E;G5E<R!A;F0@3F5W(%!%($AO;&1C;R!R96-O<F1E9"!C;W-T
M<R!O9B!A<'!R;WAI;6%T96QY("0S+#0V."PP,#`@86YD("0W-S@L,#`P+"!R
M96QA=&5D('1O('1H92!!34$@9F]R('1H92!Y96%R<PT*96YD960@1&5C96UB
M97(@,S$L(#(P,3$@86YD(#(P,3`L(')E<W!E8W1I=F5L>2P@9'5R:6YG('=H
M:6-H($YE=R!012!(;VQD8V\F(S$T-CMS(&9I;F%N8VEA;"!R97-U;'1S('=E
M<F4@8V]N<V]L:61A=&5D('=I=&@@=&AE#0I#;VUP86YY)B,Q-#8[<R!F:6YA
M;F-I86P@<F5S=6QT<RX@07,@<W5C:"P@=&AE<V4@86UO=6YT<R!H879E(&)E
M96X@96QI;6EN871E9"!U<&]N(&-O;G-O;&ED871I;VXN/"]F;VYT/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
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M<V4L(&UA<FME="!A;F0@<V5L;"!T:&4@971H86YO;"!P<F]D=6-E9`T*870@
M=&AO<V4@9F%C:6QI=&EE<RX@56YD97(@=&AE('1E<FUS(&]F('1H92!E=&AA
M;F]L(&UA<FME=&EN9R!A9W)E96UE;G1S+"!W:71H:6X@=&5N(&1A>7,@869T
M97(@9&5L:79E<FEN9R!E=&AA;F]L('1O('1H92!#;VUP86YY+`T*86X@86UO
M=6YT(&ES('!A:60@=&\@=&AE($-O;7!A;GD@97%U86P@=&\@*&DI('1H92!E
M<W1I;6%T960@<'5R8VAA<V4@<')I8V4@<&%Y86)L92!B>2!T:&4@=&AI<F0M
M<&%R='D@<'5R8VAA<V5R(&]F('1H92!E=&AA;F]L+`T*;6EN=7,@*&EI*2!T
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M<R!H860@86X@:6YI=&EA;`T*=&5R;2!O9B!O;F4@>65A<B!A;F0@<W5C8V5S
M<VEV92!O;F4@>65A<B!R96YE=V%L('!E<FEO9',@870@=&AE(&]P=&EO;B!O
M9B!T:&4@:6YD:79I9'5A;"!0;&%N="!/=VYE<BX@3VX@2G5N92`S,"P@,C`Q
M,2P@86QL(&5T:&%N;VP-"FUA<FME=&EN9R!A9W)E96UE;G1S('=E<F4@86UE
M;F1E9"!A;F0@97AT96YD960@9F]R(&]N92!Y96%R+B!);B!A9&1I=&EO;BP@
M=&AE('!R:6-E('1O(&)E('!A:60@=V%S(&%M96YD960@=&\@:6YC;'5D92!A
M(&UA<FME=&EN9PT*9F5E(&-O;&QA<B!O9B!N;W0@;&5S<R!T:&%N("0P+C`Q
M-2!P97(@9V%L;&]N(&%N9"!N;W0@;6]R92!T:&%N("0P+C`R,C4@<&5R(&=A
M;&QO;BX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E1H92!#;VUP86YY#0IR96-O<F1E9"!R979E;G5E<R!A
M;F0@3F5W(%!%($AO;&1C;R!R96-O<F1E9"!C;W-T<R!O9B!A<'!R;WAI;6%T
M96QY("0S+#<P."PP,#`@86YD("0V,C,L,#`P(')E;&%T960@=&\@=&AE(&5T
M:&%N;VP@;6%R:V5T:6YG(&%G<F5E;65N=',-"F9O<B!T:&4@>65A<G,@96YD
M960@1&5C96UB97(@,S$L(#(P,3$@86YD(#(P,3`L(')E<W!E8W1I=F5L>2P@
M9F]R('1H92!P97)I;V0@9'5R:6YG('=H:6-H($YE=R!012!(;VQD8V\@=V%S
M(&-O;G-O;&ED871E9"!W:71H#0IT:&4@0V]M<&%N>2X@5&AE<V4@86UO=6YT
M<R!W97)E(&5L:6UI;F%T960@=7!O;B!C;VYS;VQI9&%T:6]N+CPO9F]N=#X\
M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M/&D^/'4^0V]R;@T*4')O8W5R96UE;G0@86YD($AA;F1L:6YG($%G<F5E;65N
M=',\+W4^/"]I/B`F(S$U,#L@5&AE($-O;7!A;GD@96YT97)E9"!I;G1O('-E
M<&%R871E(&-O<FX@<')O8W5R96UE;G0@86YD(&AA;F1L:6YG(&%G<F5E;65N
M=',-"G=I=&@@96%C:"!O9B!T:&4@=&AR964@4&QA;G0@3W=N97)S('=H;W-E
M(&9A8VEL:71I97,@87)E(&]P97)A=&EN9RX@56YD97(@=&AE('1E<FUS(&]F
M('1H92!C;W)N('!R;V-U<F5M96YT(&%N9"!H86YD;&EN9R!A9W)E96UE;G1S
M+`T*96%C:"!F86-I;&ET>2!A<'!O:6YT960@=&AE($-O;7!A;GD@87,@:71S
M(&5X8VQU<VEV92!A9V5N="!T;R!S;VQI8VET+"!N96=O=&EA=&4L(&5N=&5R
M(&EN=&\@86YD(&%D;6EN:7-T97(L(&]N(&ET<R!B96AA;&8L(&-O<FX-"G-U
M<'!L>2!A<G)A;F=E;65N=',@=&\@<')O8W5R92!T:&4@8V]R;B!N96-E<W-A
M<GD@=&\@;W!E<F%T92!I=',@9F%C:6QI='DN(%1H92!#;VUP86YY(&%L<V\@
M<')O=FED97,@9W)A:6X@:&%N9&QI;F<@<V5R=FEC97,@:6YC;'5D:6YG+`T*
M8G5T(&YO="!L:6UI=&5D('1O+"!R96-E:79I;F<L('5N;&]A9&EN9R!A;F0@
M8V]N=F5Y:6YG(&-O<FX@:6YT;R!T:&4@9F%C:6QI='DF(S$T-CMS('-T;W)A
M9V4@86YD+"!I;B!T:&4@8V%S92!O9B!W:&]L92!C;W)N(&1E;&EV97)E9"P-
M"G!R;V-E<W-I;F<@86YD(&AA;6UE<FEN9R!T:&4@=VAO;&4@8V]R;BX\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/E1H92!#;VUP86YY#0IW87,@=&\@<F5C96EV92!A(&9E92!O9B`D,"XU
M,"!P97(@=&]N(&]F(&-O<FX@9&5L:79E<F5D('1O(&5A8V@@9F%C:6QI='D@
M87,@8V]N<VED97)A=&EO;B!F;W(@:71S('!R;V-U<F5M96YT('-E<G9I8V5S
M(&%N9"!A(&9E90T*;V8@)#$N-3`@<&5R('1O;B!O9B!C;W)N(&1E;&EV97)E
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M4&QA;G0@3W=N97(N($]N($IU;F4@,S`L(#(P,3$L(&%L;"!C;W)N('!R;V-U
M<F5M96YT(&%N9"!H86YD;&EN9R!A9W)E96UE;G1S#0IW97)E(&%M96YD960@
M86YD(&5X=&5N9&5D(&9O<B!O;F4@>65A<BX@26X@861D:71I;VXL('1H92!C
M;W)N('!R;V-U<F5M96YT(&%N9"!H86YD;&EN9R!F964@=V%S(&-H86YG960@
M=&\@)#`N,#0U('!E<B!B=7-H96P@;V8-"F-O<FXN/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4:&4@0V]M
M<&%N>0T*<F5C;W)D960@<F5V96YU97,@86YD($YE=R!012!(;VQD8V\@<F5C
M;W)D960@8V]S=',@;V8@87!P<F]X:6UA=&5L>2`D,BPW-3@L,#`P(&%N9"`D
M-3<Q+#`P,"P@<F5L871E9"!T;R!T:&4@8V]R;B!P<F]C=7)E;65N="!A;F0-
M"FAA;F1L:6YG(&%G<F5E;65N=',@9F]R('1H92!Y96%R<R!E;F1E9"!$96-E
M;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"P@<F5S<&5C=&EV96QY+"!F;W(@=&AE
M('!E<FEO9"!D=7)I;F<@=VAI8V@@3F5W(%!%($AO;&1C;R!W87,-"F-O;G-O
M;&ED871E9"!W:71H('1H92!#;VUP86YY+B!4:&5S92!A;6]U;G1S('=E<F4@
M96QI;6EN871E9"!U<&]N(&-O;G-O;&ED871I;VXN/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y$
M:7-T:6QL97)S#0I'<F%I;G,@36%R:V5T:6YG($%G<F5E;65N=',\+W4^/"]I
M/B`F(S$U,#L@5&AE($-O;7!A;GD@96YT97)E9"!I;G1O('-E<&%R871E(&1I
M<W1I;&QE<G,@9W)A:6YS(&UA<FME=&EN9R!A9W)E96UE;G1S('=I=&@@96%C
M:`T*;V8@=&AE('1H<F5E(%!L86YT($]W;F5R<R!W:&]S92!F86-I;&ET:65S
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M<F-H87-E<B!O9B!T:&4@5T1'+"!M:6YU<R`H:6DI('1H92!E<W1I;6%T960@
M86UO=6YT(&]F('1R86YS<&]R=&%T:6]N(&-O<W1S('1O(&)E(&EN8W5R<F5D
M+"!M:6YU<R`H:6EI*2!T:&4-"F5S=&EM871E9"!A;6]U;G0@;V8@9F5E<R!A
M;F0@=&%X97,@<&%Y86)L92!T;R!G;W9E<FYM96YT86P@875T:&]R:71I97,@
M:6X@8V]N;F5C=&EO;B!W:71H('1H92!T;VYN86=E(&]F(%=$1R!P<F]D=6-E
M9"!O<B!M87)K971E9"P-"FUI;G5S("AI=BD@=&AE(&5S=&EM871E9"!I;F-E
M;G1I=F4@9F5E('!A>6%B;&4@=&\@=&AE($-O;7!A;GDL('=H:6-H(&5Q=6%L
M<R!T:&4@9W)E871E<B!O9B`H82D@-24@;V8@=&AE(&%G9W)E9V%T92!T:&ER
M9"UP87)T>0T*<'5R8VAA<V4@<')I8V4L(&%N9"`H8BD@)#(N,#`@9F]R(&5A
M8V@@=&]N(&]F(%=$1R!S;VQD(&EN('1H92!T<F%N<V%C=&EO;BX@16%C:"!D
M:7-T:6QL97)S(&=R86EN<R!M87)K971I;F<@86=R965M96YT(&AA9"!A;B!I
M;FET:6%L#0IT97)M(&]F(&]N92!Y96%R(&%N9"!S=6-C97-S:79E(&]N92!Y
M96%R(')E;F5W86P@<&5R:6]D<R!A="!T:&4@;W!T:6]N(&]F('1H92!I;F1I
M=FED=6%L(%!L86YT($]W;F5R+B!/;B!*=6YE(#,P+"`R,#$Q+"!A;&P@9&ES
M=&EL;&5R<PT*9W)A:6YS(&UA<FME=&EN9R!A9W)E96UE;G1S('=E<F4@86UE
M;F1E9"!A;F0@97AT96YD960@9F]R(&]N92!Y96%R+B!);B!A9&1I=&EO;BP@
M=&AE(&9E92!T;R!B92!P86ED('1O('1H92!#;VUP86YY('=A<R!A;65N9&5D
M#0IT;R!I;F-L=61E(&$@8V]L;&%R(&]F(&YO="!L97-S('1H86X@)#(N,#`@
M<&5R('1O;B!A;F0@;F]T(&UO<F4@=&AA;B`D,RXU,"!P97(@=&]N+CPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^5&AE($-O;7!A;GD-"G)E8V]R9&5D(')E=F5N=65S(&%N9"!.97<@4$4@
M2&]L9&-O(')E8V]R9&5D(&-O<W1S(&]F(&%P<')O>&EM871E;'D@)#0L-SDW
M+#`P,"!A;F0@)#<P,"PP,#`L(')E;&%T960@=&\@=&AE(&1I<W1I;&QE<G,@
M9W)A:6X@;6%R:V5T:6YG#0IA9W)E96UE;G1S(&9O<B!T:&4@>65A<G,@96YD
M960@1&5C96UB97(@,S$L(#(P,3$@86YD(#(P,3`L(')E<W!E8W1I=F5L>2P@
M9F]R('1H92!P97)I;V0@=VAI8V@@3F5W(%!%($AO;&1C;R!W87,@8V]N<V]L
M:61A=&5D('=I=&@-"G1H92!#;VUP86YY+B!4:&5S92!A;6]U;G1S('=E<F4@
M96QI;6EN871E9"!U<&]N(&-O;G-O;&ED871I;VXN)B,Q-C`[/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\
M:3X\=3Y!<W-E=',-"F%N9"!,:6%B:6QI=&EE<R!O9B!.97<@4$4@2&]L9&-O
M/"]U/CPO:3X@)B,Q-3`[(%1H92!C87)R>6EN9R!V86QU97,@86YD(&-L87-S
M:69I8V%T:6]N(&]F(&%S<V5T<R!T:&%T(&%R92!C;VQL871E<F%L(&9O<B!T
M:&4-"F]B;&EG871I;VYS(&]F($YE=R!012!(;VQD8V\@870@1&5C96UB97(@
M,S$L(#(P,3$@=V5R92!A<R!F;VQL;W=S("AI;B!T:&]U<V%N9',I.CPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP
M861D:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%
M145%12<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`X-B4G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY#87-H(&%N9"!C87-H(&5Q=6EV86QE
M;G1S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W=I9'1H.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,BPP-S`\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@
M8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^3W1H97(@8W5R<F5N="!A<W-E=',\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,30L,S(P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO
M=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E!R;W!E
M<G1Y(&%N9"!E<75I<&UE;G0\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,34U+#4R,SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY/=&AE<B!A<W-E=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED
M.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/C$L-CDS/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO
M=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^5&]T86P@87-S971S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXQ-S,L-C`V/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO
M=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-
M"CPO=&%B;&4^#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG
M/3-$,"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`X
M-B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY#=7)R96YT(&QI
M86)I;&ET:65S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,RPP-C0\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q
M)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY,;VYG+71E<FT@9&5B=#PO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXW,RPR-38\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3W1H97(@;&EA8FEL:71I97,\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$U.#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V
M97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%
M145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1O=&%L(&QI86)I;&ET
M:65S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXW-BPT-S@\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^1&5C
M;VYS;VQI9&%T:6]N#0IA;F0@4V%L92!O9B!&<F]N="!286YG93PO=3X\+VD^
M("8C,34P.R!4:&4@0V]M<&%N>2!P=7)C:&%S960@82`T,B4@;W=N97)S:&EP
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M<GD@,2P@,C`Q,"P@=&AE($-O;7!A;GD@9&5T97)M:6YE9"!T:&%T#0II="!W
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M("0V,BPV,3<L,#`P(&]F(&%S<V5T<R!A;F0@)#$X+#4X-"PP,#`@;V8@;&EA
M8FEL:71I97,@9G)O;2!T:&4@8V]N<V]L:61A=&5D(&)A;&%N8V4@<VAE971S
M(&%N9"!R96-O<F1E9"!A(&-U;75L871I=F4-"F1E8FET(&%D:G5S=&UE;G0@
M=&\@<F5T86EN960@96%R;FEN9W,@;V8@)#$L-S8S+#`P,"X\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D5F
M9F5C=&EV90T*2F%N=6%R>2`Q+"`R,#$P+"!T:&4@0V]M<&%N>2!A8V-O=6YT
M960@9F]R(&ET<R!I;G9E<W1M96YT(&EN($9R;VYT(%)A;F=E('5N9&5R('1H
M92!E<75I='D@;65T:&]D+"!W:71H(&5Q=6ET>2!E87)N:6YG<R!R96-O<F1E
M9`T*:6X@;W1H97(@:6YC;VUE("AE>'!E;G-E*2P@;F5T(&EN('1H92!C;VYS
M;VQI9&%T960@<W1A=&5M96YT<R!O9B!O<&5R871I;VYS+CPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^
M/'4^4V%L90T*;V8@1G)O;G0@4F%N9V4\+W4^/"]I/B`F(S$U,#L@3VX@3V-T
M;V)E<B`V+"`R,#$P+"!T:&4@0V]M<&%N>2!S;VQD(&ET<R!E;G1I<F4@-#(E
M(&]W;F5R<VAI<"!I;G1E<F5S="!I;B!&<F]N="!286YG92!F;W(@)#$X+#4P
M,"PP,#`-"FEN(&-A<V@L(')E<W5L=&EN9R!I;B!A(&QO<W,@;V8@)#$R+#$T
M-BPP,#`N/"]F;VYT/CPO<#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM
M+2T]7TYE>'1087)T7S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y.31C9#DX
M8SDT,0T*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B\V,3,X8C(S8U\S
M93)D7S1C-3E?.3DR.%\Q.3DT8V0Y.&,Y-#$O5V]R:W-H965T<R]3:&5E=#`Y
M+FAT;6P-"D-O;G1E;G0M5')A;G-F97(M16YC;V1I;F<Z('%U;W1E9"UP<FEN
M=&%B;&4-"D-O;G1E;G0M5'EP93H@=&5X="]H=&UL.R!C:&%R<V5T/2)U<RUA
M<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U
M:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S
M970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,]
M,T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S
M8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R
M97!O<G0@:60],T1)1#!%3$4^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C
M;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^,RX@
M24Y614Y43U))15,\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&@@8V]L<W!A;CTS1#$^.2!-;VYT:',@16YD960\+W1H/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^
M4V5P+B`S,"P@,C`Q,CQB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^/'-T<F]N9SY);G9E;G1O<FEE<T%B<W1R86-T/"]S=')O;F<^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/C,N($E.5D5.5$]22453
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=M
M87)G:6XZ(#!P=#L@9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DEN
M=F5N=&]R:65S(&-O;G-I<W1E9`T*<')I;6%R:6QY(&]F(&)U;&L@971H86YO
M;"!A;F0@=6YL96%D960@9G5E;"P@86YD(&%R92!V86QU960@870@=&AE(&QO
M=V5R+6]F+6-O<W0M;W(M;6%R:V5T+"!W:71H(&-O<W0@9&5T97)M:6YE9"!O
M;B!A(&9I<G-T+6EN+`T*9FER<W0M;W5T(&)A<VES+B!);G9E;G1O<GD@8F%L
M86YC97,@8V]N<VES=&5D(&]F('1H92!F;VQL;W=I;F<@*&EN('1H;W5S86YD
M<RDZ/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QP861D:6YG/3-$
M,"!C96QL<W!A8VEN9STS1#`@<W1Y;&4],T0G8F]R9&5R+6-O;&QA<'-E.B!C
M;VQL87!S93L@=VED=&@Z(#$P,"4[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L
M:6=N.B!B;W1T;VT[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*("`@(#QT9"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS
M1#(@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M
M.B!";&%C:R`Q<'0@<V]L:60[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY397!T96UB97(-"B`@("`S,"P@,C`Q,CPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A
M;CTS1#(@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T
M=&]M.B!";&%C:R`Q<'0@<V]L:60[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY$96-E;6)E<@T*("`@(#,Q+"`R,#$Q/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M
M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."D[(&9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*("`@(#QT9"!S='EL93TS1"=W:61T
M:#H@-C`E.R!T97AT+6%L:6=N.B!L969T.R!F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^1FEN:7-H960@9V]O9',\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#(E.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q)3L@=&5X="UA;&EG;CH@;&5F=#L@9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$V)3L@=&5X="UA;&EG;CH@<FEG:'0[(&9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXX+#`X.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#(E.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@
M=&5X="UA;&EG;CH@;&5F=#L@9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$V)3L@
M=&5X="UA;&EG;CH@<FEG:'0[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXY+#0R.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,24[('1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E
M.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/E=O<FL@:6X@<')O9W)E<W,\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!L969T.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-"PQ-C0\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXT+#(X-#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B
M86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I.R!F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/E)A=R!M871E<FEA;',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^,2PR-S,\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0[(&9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#,S-#PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B!7:&ET93L@9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[
M(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY/=&AE<CPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI
M9#L@9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[(&9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^.#0X/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M
M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#%P=#L@9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!"
M;&%C:R`Q<'0@<V]L:60[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$L
M,#@T/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M(')G8B@R,S@L,C,X+#(S."D[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,BXU<'0[('!A9&1I;F<M;&5F=#H@,C)P=#L@9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/E1O=&%L/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[(&9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L
M86-K(#(N-7!T(&1O=6)L93L@9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXQ-"PS-S0\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N
M.B!L969T.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R
M+C5P=#L@9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C
M:R`R+C5P="!D;W5B;&4[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ-BPQ
M,S$\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#(N-7!T.R!T97AT+6%L:6=N.B!L969T.R!F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T.R!B86-K9W)O=6YD+6-O;&]R
M.B!W:&ET92<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*#0H-"CQP('-T>6QE/3-$
M)VUA<F=I;CH@,'!T.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX\+W`^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM
M/5].97AT4&%R=%\V,3,X8C(S8U\S93)D7S1C-3E?.3DR.%\Q.3DT8V0Y.&,Y
M-#$-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-C$S.&(R,V-?,V4R
M9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q+U=O<FMS:&5E=',O4VAE970Q,"YH
M=&UL#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A
M8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M87-C
M:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV
M/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T
M/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$
M4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R
M:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P
M;W)T(&ED/3-$240P15)'/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA
M<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/C0N($1%
M4DE6051)5D53/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H(&-O;'-P86X],T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@
M("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D
M/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C
M;&%S<STS1'1H/E-E<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H
M(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY$97)I=F%T:79E<SPO<W1R;VYG
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#XT+B!$15))5D%4
M259%4SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P<'0@,"`P<'0@,"XR-6EN)SX\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE
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M96-T<R!T:&%T(&UA<FME=`T*=F]L871I;&ET>2!C;W5L9"!H879E(&]N(&]P
M97)A=&EN9R!R97-U;'1S+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^0V]M;6]D:71Y#0I2:7-K
M/"]U/CPO:3X\=3X@)B,Q-3`[(#QI/D-A<V@@1FQO=R!(961G97,\+VD^/"]U
M/B`F(S$U,#L@5&AE($-O;7!A;GD@=7-E<R!D97)I=F%T:79E(&EN<W1R=6UE
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M,S`L(#(P,3(@86YD(#(P,3$L('1H92!#;VUP86YY(&1I9"!N;W0@9&5S:6=N
M871E(&%N>2!O9B!I=',@9&5R:79A=&EV97,@87,@8V%S:`T*9FQO=R!H961G
M97,N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SX\:3X\=3Y#;VUM;V1I='D-"E)I<VL@)B,Q-3`[($YO;BU$
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M86YY(')E8V]G;FEZ960@9V%I;G,@;V8@)#(P,BPP,#`@86YD("0S,S0L,#`P
M(&%S('1H92!C:&%N9V4@:6X@=&AE(&9A:7(@=F%L=64@;V8@=&AE<V4@8V]N
M=')A8W1S#0IF;W(@=&AE(&YI;F4@;6]N=&AS(&5N9&5D(%-E<'1E;6)E<B`S
M,"P@,C`Q,B!A;F0@,C`Q,2P@<F5S<&5C=&EV96QY+B!4:&4@;F]T:6]N86P@
M8F%L86YC97,@<F5M86EN:6YG(&]N('1H97-E(&-O;G1R86-T<R!W97)E("0R
M-"PQ,#(L,#`P#0IA;F0@)#DL,3@V+#`P,"!A<R!O9B!397!T96UB97(@,S`L
M(#(P,3(@86YD($1E8V5M8F5R(#,Q+"`R,#$Q+"!R97-P96-T:79E;'DN/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SX\:3X\=3Y.;VXM1&5S:6=N871E9`T*1&5R:79A=&EV92!);G-T<G5M
M96YT<R`\+W4^/"]I/B8C,34P.R!4:&4@0V]M<&%N>2!C;&%S<VEF:65D(&ET
M<R!D97)I=F%T:79E(&EN<W1R=6UE;G1S(&YO="!D97-I9VYA=&5D(&%S(&AE
M9&=I;F<@:6YS=')U;65N=',-"F]F("0U,30L,#`P(&%N9"`D,CDQ+#`P,"!I
M;B!O=&AE<B!A<W-E=',@86YD(&%C8W)U960@;&EA8FEL:71I97,@87,@;V8@
M4V5P=&5M8F5R(#,P+"`R,#$R+"!R97-P96-T:79E;'DL(&%N9"`D,C0T+#`P
M,"!A;F0@)#4P,"PP,#`-"FEN(&]T:&5R(&%S<V5T<R!A;F0@86-C<G5E9"!L
M:6%B:6QI=&EE<R!A<R!O9B!$96-E;6)E<B`S,2P@,C`Q,2P@<F5S<&5C=&EV
M96QY+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!C;&%S<VEF:6-A=&EO
M;@T*86YD(&%M;W5N=',@;V8@=&AE($-O;7!A;GDF(S$T-CMS(')E8V]G;FEZ
M960@9V%I;G,@*&QO<W-E<RD@9F]R(&ET<R!D97)I=F%T:79E<R!N;W0@9&5S
M:6=N871E9"!A<R!H961G:6YG(&EN<W1R=6UE;G1S(&%R92!A<PT*9F]L;&]W
M("AI;B!T:&]U<V%N9',I.CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`G/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,"<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQT86)L92!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P('-T
M>6QE/3-$)W=I9'1H.B`Q,#`E.R!B;W)D97(M8V]L;&%P<V4Z(&-O;&QA<'-E
M.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C
M;VQS<&%N/3-$-B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q<'0@
M<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E)E86QI>F5D($=A:6YS/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T=&]M
M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#8@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT97(G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY.:6YE($UO;G1H<R!%
M;F1E9`T*("`@(%-E<'1E;6)E<B`S,"P\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#%P="!S;VQI9"<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1Y<&4@;V8@26YS=')U;65N=#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/E-T871E;65N=',@;V8@3W!E<F%T:6]N<R!,;V-A=&EO;CPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`Q,CPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXR,#$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T
M>6QE/3-$)V)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."D[('9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,BXU<'0[('=I9'1H.B`S,"4G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY#;VUM;V1I='D@8V]N=')A8W1S/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@
M=VED=&@Z(#,E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`R+C5P=#L@=VED=&@Z(#,U)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/D-O<W0@;V8@9V]O9',@<V]L9#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('=I9'1H.B`S
M)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C
M:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@
M9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H=#L@=VED=&@Z(#$Q)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(W-SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!P861D:6YG+6)O='1O
M;3H@,BXU<'0[('=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,BXU<'0[('=I9'1H.B`S)2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[
M('1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L
M:6=N.B!R:6=H=#L@=VED=&@Z(#$Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C0V,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T.R!P861D:6YG+6)O='1O;3H@,BXU<'0[('=I9'1H
M.B`Q)2<^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\=&%B;&4@8V5L;'-P86-I
M;F<],T0P(&-E;&QP861D:6YG/3-$,"!S='EL93TS1"=W:61T:#H@,3`P)3L@
M8F]R9&5R+6-O;&QA<'-E.B!C;VQL87!S93L@9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#8@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!C
M96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY5;G)E86QI
M>F5D($QO<W-E<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0V('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#%P
M="!S;VQI9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^3FEN92!-;VYT:',@16YD960-"B`@("!397!T96UB
M97(@,S`L/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY4>7!E(&]F($EN<W1R=6UE;G0\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q<'0@<V]L:60G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY3=&%T96UE;G1S(&]F($]P
M97)A=&EO;G,@3&]C871I;VX\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N
M/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q<'0@<V]L:60[
M('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/C(P,3(\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#%P="!S;VQI9#L@=&5X="UA
M;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,C`Q,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=B86-K9W)O=6YD
M+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I.R!V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@
M=VED=&@Z(#,P)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-O
M;6UO9&ET>2!C;VYT<F%C=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=VED=&@Z(#,E)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('=I9'1H.B`S-24G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY#;W-T(&]F(&=O;V1S
M('-O;&0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#%P=#L@=VED=&@Z(#,E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@
M;&5F=#L@=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT.R!W:61T
M:#H@,3$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#0W.3PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M.R!P861D:6YG+6)O='1O;3H@,7!T.R!W:61T:#H@,24G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('=I9'1H.B`S)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q<'0@<V]L
M:60[('1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,7!T('-O;&ED.R!T97AT+6%L
M:6=N.B!R:6=H=#L@=VED=&@Z(#$Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B@Q,C8\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=VED=&@Z
M(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\
M+W1D/CPO='(^#0H-"CPO=&%B;&4^#0H-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP=#L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G
M/B8C,38P.SPO9F]N=#X\+W`^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
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M/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SX\:3X\=3Y#;VUM;V1I='D-"E)I<VL\+W4^/"]I/CQU/B`F(S$U
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M('!R:6-E<RX@26YE9F9E8W1I=F5N97-S+"!W:&EC:`T*:7,@9&5F:6YE9"!A
M<R!T:&4@9&5G<F5E('1O('=H:6-H('1H92!D97)I=F%T:79E(&1O97,@;F]T
M(&]F9G-E="!T:&4@=6YD97)L>6EN9R!E>'!O<W5R92P@:7,@<F5C;V=N:7IE
M9"!I;6UE9&EA=&5L>2!I;B!C;W-T(&]F#0IG;V]D<R!S;VQD+B!&;W(@=&AE
M('EE87)S(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q(&%N9"`R,#$P+"!T:&4@
M0V]M<&%N>2!D:60@;F]T(&1E<VEG;F%T92!A;GD@;V8@:71S(&1E<FEV871I
M=F5S(&%S(&-A<V@@9FQO=PT*:&5D9V5S+CPO9F]N=#X\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^0V]M;6]D
M:71Y#0I2:7-K("8C,34P.R!.;VXM1&5S:6=N871E9"!(961G97,\+W4^/"]I
M/B`F(S$U,#L@5&AE($-O;7!A;GD@=7-E<R!D97)I=F%T:79E(&EN<W1R=6UE
M;G1S('1O(&QO8VL@:6X@<')I8V5S(&9O<B!C97)T86EN(&%M;W5N=',-"F]F
M(&-O<FX@86YD(&5T:&%N;VP@8GD@96YT97)I;F<@:6YT;R!F;W)W87)D(&-O
M;G1R86-T<R!F;W(@=&AO<V4@8V]M;6]D:71I97,N(%1H97-E(&1E<FEV871I
M=F5S(&%R92!N;W0@9&5S:6=N871E9"!F;W(@<W!E8VEA;`T*:&5D9V4@86-C
M;W5N=&EN9R!T<F5A=&UE;G0N(%1H92!C:&%N9V5S(&EN(&9A:7(@=F%L=64@
M;V8@=&AE<V4@8V]N=')A8W1S(&%R92!R96-O<F1E9"!O;B!T:&4@8F%L86YC
M92!S:&5E="!A;F0@<F5C;V=N:7IE9"!I;6UE9&EA=&5L>0T*:6X@8V]S="!O
M9B!G;V]D<R!S;VQD+B!4:&4@0V]M<&%N>2!R96-O9VYI>F5D(&$@9V%I;B!O
M9B`D.38L,#`P(&%N9"!A(&QO<W,@;V8@)#$W."PP,#`@87,@=&AE(&-H86YG
M92!I;B!T:&4@9F%I<B!V86QU92!O9B!T:&5S90T*8V]N=')A8W1S(&9O<B!T
M:&4@>65A<G,@96YD960@1&5C96UB97(@,S$L(#(P,3$@86YD(#(P,3`L(')E
M<W!E8W1I=F5L>2X@5&AE(&YO=&EO;F%L(&)A;&%N8V5S(')E;6%I;FEN9R!O
M;B!T:&5S92!C;VYT<F%C=',@87,-"F]F($1E8V5M8F5R(#,Q+"`R,#$Q(&%N
M9"`R,#$P('=E<F4@)#DL,3@V+#`P,"!A;F0@)#(S-RPP,#`L(')E<W!E8W1I
M=F5L>2X\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/CQI/CQU/DEN=&5R97-T#0I2871E(%)I<VL\+W4^/"]I
M/B`F(S$U,#L@5&AE($-O;7!A;GD@:&%S(&AI<W1O<FEC86QL>2!U<V5D(&1E
M<FEV871I=F4@:6YS=')U;65N=',@=&\@;6EN:6UI>F4@<VEG;FEF:6-A;G0@
M=6YA;G1I8VEP871E9"!I;F-O;64-"F9L=6-T=6%T:6]N<R!T:&%T(&UA>2!A
M<FES92!F<F]M(')I<VEN9R!V87)I86)L92!I;G1E<F5S="!R871E(&-O<W1S
M(&%S<V]C:6%T960@=VET:"!E>&ES=&EN9R!A;F0@86YT:6-I<&%T960@8F]R
M<F]W:6YG<RX@5&AE#0I#;VUP86YY('!U<F-H87-E9"!I;G1E<F5S="!R871E
M(&-A<',@86YD('-W87!S('1O(&UE970@=&AE<V4@;V)J96-T:79E<RX@1'5R
M:6YG('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$P+"!T:')O=6=H
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M;65N="!O9B!P;W-I=&EO;B!A<R!O9B!$96-E;6)E<B`S,2P@,C`Q,"X\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
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M(&%N9"!A;G1I8VEP871E9`T*9&5B="X@5&AE($-O;7!A;GD@<F5C;V=N:7IE
M9"!G86EN<R!F<F]M('5N9&5S:6=N871E9"!H961G97,@;V8@)#`@86YD("0Q
M+#(R-RPP,#`@:6X@:6YT97)E<W0@97AP96YS92P@;F5T+"!F;W(@=&AE('EE
M87)S(&5N9&5D#0I$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"P@<F5S<&5C
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M(&%N9"!S=V%P<RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/DYO;@T*1&5S:6=N871E9"!$97)I
M=F%T:79E($EN<W1R=6UE;G1S/"]U/CPO:3X@)B,Q-3`[(%1H92!C;&%S<VEF
M:6-A=&EO;B!A;F0@86UO=6YT<R!O9B!T:&4@0V]M<&%N>28C,30V.W,@9&5R
M:79A=&EV97,@;F]T(&1E<VEG;F%T960-"F%S(&AE9&=I;F<@:6YS=')U;65N
M=',@87)E(&%S(&9O;&QO=W,@*&EN('1H;W5S86YD<RDZ/"]F;VYT/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W`^#0H-"CQT86)L92!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<]
M,T0P('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[('=I9'1H.B`Q,#`E)SX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,3`@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M
M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/D%S(&]F($1E8V5M8F5R#0H@("`@,S$L(#(P,3$\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ
M(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D%S<V5T
M<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@8V]L<W!A;CTS1#0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQI86)I;&ET:65S/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1Y<&4@
M;V8@26YS=')U;65N=#PO9F]N=#X\+W`^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0F%L86YC92!3:&5E="!,;V-A=&EO
M;CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O
M;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY&86ER(%9A;'5E/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B
M;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/D)A;&%N8V4@4VAE970@3&]C871I;VX\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N
M/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI
M9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^1F%I<B!686QU93PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R
M87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS
M<&%N/3-$,B!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%
M145%12<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R-"4[('!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/D-O;6UO9&ET>2!C;VYT<F%C=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(S)3L@<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3W1H97(@
M8W5R<F5N="!A<W-E=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0[('1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q,24[(&)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O
M;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C(T-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`R,R4[('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D%C8W)U960@;&EA8FEL
M:71I97,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E
M.R!P861D:6YG+6)O='1O;3H@,2XU<'0[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q,24[(&)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C4P,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#-P=#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L
M92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR
M-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXR-#0\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,W!T.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@
M9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C4P,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\+W1A8FQE/@T*/'1A8FQE(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D
M9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@=VED=&@Z(#$P,"4G/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0Q
M,"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@
M=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^07,@;V8@1&5C96UB97(-"B`@("`S,2P@,C`Q,#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$-"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA
M;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M07-S971S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0T('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N
M-7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY,:6%B:6QI=&EE<SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M8FQA8VL@,2XU<'0@<V]L:60G/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4>7!E(&]F($EN<W1R=6UE
M;G0\+V9O;G0^/"]P/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/D)A;&%N8V4@4VAE970@3&]C871I;VX\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT97(G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY&86ER(%9A;'5E/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^0F%L86YC92!3:&5E="!,;V-A=&EO;CPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E
M<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D9A:7(F(S$V,#M6
M86QU93PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!C;VQS<&%N/3-$,CX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,C0E.R!P861D:6YG+6)O='1O;3H@
M,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY#;VUM;V1I
M='D@8V]N=')A8W1S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`R,R4[('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D]T:&5R(&-U<G)E;G0@
M87-S971S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)3L@8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L
M:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[(&)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M
M.B`Q+C5P=#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R,R4[
M('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/D%C8W)U960@;&EA8FEL:71I97,\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$Q)3L@8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,34\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#-P=#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,34\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&AE(&-L87-S:69I8V%T:6]N#0IA
M;F0@86UO=6YT<R!O9B!T:&4@0V]M<&%N>28C,30V.W,@<F5C;V=N:7IE9"!G
M86EN<R`H;&]S<V5S*2!F;W(@:71S(&1E<FEV871I=F5S(&YO="!D97-I9VYA
M=&5D(&%S(&AE9&=I;F<@:6YS=')U;65N=',@87)E(&%S#0IF;VQL;W<@*&EN
M('1H;W5S86YD<RDZ/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQT86)L92!C96QL
M<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I9'1H.B`Q,#`E
M)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&-O;'-P86X],T0V('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY296%L:7IE9"!'86EN("A,;W-S
M*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O
M;'-P86X],T0V('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY&;W(@=&AE(%EE87)S($5N9&5D#0H@("`@1&5C96UB
M97(@,S$L/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1Y<&4@;V8@26YS=')U;65N
M=#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY3=&%T96UE;G1S(&]F($]P97)A=&EO;G,@3&]C871I;VX\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT
M97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,#$Q/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T
M97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXR,#$P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A
M<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U
M;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N
M/3-$,CX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N
M;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^
M#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`S-R4[('!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-O;6UO
M9&ET>2!C;VYT<F%C=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#,T)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0V]S="!O9B!G;V]D
M<R!S;VQD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)3L@8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L
M:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[(&)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,S.#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E.R!P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$Q)3L@8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#$V,SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED
M=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXS,S@\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Q-C,\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXI/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\=&%B;&4@8V5L
M;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P
M)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!C;VQS<&%N/3-$-B!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^56YR96%L:7IE9"!'86EN#0H@
M("`@*$QO<W,I/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A
M<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#8@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/D9O<B!T:&4@665A<G,@16YD960-"B`@
M("!$96-E;6)E<B`S,2P\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O
M;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5'EP92!O9B!)
M;G-T<G5M96YT/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/E-T871E;65N=',@;V8@3W!E<F%T:6]N<R!,;V-A
M=&EO;CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI
M9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(P
M,3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L
M<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@
M<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C(P,3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0R/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[
M(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,S<E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M0V]M;6]D:71Y(&-O;G1R86-T<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#,T)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-O<W0@;V8@
M9V]O9',@<V]L9#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T
M:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,3$E.R!T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@R-#(\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q
M)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$Q)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXH,34\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H
M:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^26YT97)E<W0@<F%T
M92!C;VYT<F%C=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/DEN=&5R97-T(&5X<&5N<V4L(&YE=#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXQ+#(R-SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B
M86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B@R-#(\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXQ+#(Q,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M+W1A8FQE/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\
M+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A
M<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT
M96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y
M.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T,3$N:'1M;`T*0V]N
M=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N
M=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\
M:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E
M;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^
M/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^
M+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE
M860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS
M1$E$,$521SX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@
M8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SXU+B!$14)4/&)R/CPO
M<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X]
M,T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$
M=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@
M,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C
M+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^/'-T<F]N9SY$96)T/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/DYO=&4@-2X@1$5"5#PO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQO
M;F<M=&5R;0T*8F]R<F]W:6YG<R!A<F4@<W5M;6%R:7IE9"!A<R!F;VQL;W=S
M("AI;B!T:&]U<V%N9',I.CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@
M8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!A;&EG;CTS1&-E;G1E
M<B!S='EL93TS1"=B;W)D97(M8V]L;&%P<V4Z(&-O;&QA<'-E.R!W:61T:#H@
M.#`E.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4V5P=&5M8F5R(#,P+"`\8G(@
M+SXR,#$R/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=T97AT+6%L:6=N
M.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D1E8V5M8F5R(#,Q+"`\8G(@
M+SX-"B`@("`R,#$Q/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X
M+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-#8E.R!T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^2VEN
M97)G>2!O<&5R871I;F<@;&EN92!O9B!C<F5D:70\+V9O;G0^/"]T9#X\=&0@
M<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$S)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXQ-RPQ-3@\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=VED
M=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W=I
M9'1H.B`R)3L@8V]L;W(Z(&)L86-K)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R!T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/CQT
M9"!S='EL93TS1"=W:61T:#H@,3,E.R!C;VQO<CH@8FQA8VL[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`L
M-#,R/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@8V]L;W(Z
M(&)L86-K.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B!7:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY396YI;W(@=6YS96-U
M<F5D(&YO=&5S/"]F;VYT/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$P
M+#`P,#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34P.SPO9F]N=#X\+W1D
M/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/DYO=&4@<&%Y86)L92!T;R!R96QA=&5D('!A<G1Y/"]F;VYT/CPO=&0^
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C<U,#PO9F]N=#X\+W1D/CQT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C<U,#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@
M8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY0;&%N="!/=VYE<G,F(S$T-CL@=&5R;2!D96)T/"]F;VYT
M/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4R+#8X-SPO9F]N=#X\+W1D
M/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C4Q+#(W.3PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X
M+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M=#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/E!L86YT($]W;F5R<R8C,30V.R!O<&5R871I;F<@;&EN92!O
M9B!C<F5D:70\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C,X+#4P,#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S
M;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXR,2PY-S@\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C$Q.2PP.34\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/CQT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXY-"PT
M,SD\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O
M;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M
M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY,97-S('-H
M;W)T+71E<FT@<&]R=&EO;CPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/CQT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L
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M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CQT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q
M<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^*#<U,#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY,
M;VYG+71E<FT@9&5B=#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D
M/CQT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B
M;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^-C@L.3DP/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!"
M;&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^.3,L-C@Y/"]F;VYT/CPO=&0^/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CPO='(^#0H\+W1A8FQE/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^/&D^)B,Q-C`[/"]I/CPO9F]N=#X\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y+:6YE<F=Y#0I/
M<&5R871I;F<@3&EN92!O9B!#<F5D:70\+W4^/"]I/B`F(S$U,#L@26X@36%Y
M(#(P,3(L('1H92!#;VUP86YY(&5X=&5N9&5D($MI;F5R9WDF(S$T-CMS(&]P
M97)A=&EN9R!L:6YE(&]F(&-R961I="X@5&AE(')E;F5W86P-"F]F($MI;F5R
M9WDF(S$T-CMS(&-R961I="!F86-I;&ET>2!I<R!F;W(@86X@86=G<F5G871E
M(&%M;W5N="!O9B!U<"!T;R`D-#`L,#`P+#`P,"P@:6YC;'5D:6YG(&%N(&]P
M=&EO;F%L(&%C8V]R9&EO;B!F96%T=7)E(&9O<@T*=7`@=&\@86X@861D:71I
M;VYA;"`D,3`L,#`P+#`P,"X@5&AE('!R:6]R(&-R961I="!F86-I;&ET>2!I
M;F-L=61E9"!A;B!A8V-O<F1I;VX@9F5A='5R92!O9B`D-2PP,#`L,#`P+B!4
M:&4@8W)E9&ET(&9A8VEL:71Y(&5X<&ER97,-"F]N($1E8V5M8F5R(#,Q+"`R
M,#$U+B!);G1E<F5S="!A8V-R=65S('5N9&5R('1H92!C<F5D:70@9F%C:6QI
M='D@870@82!R871E(&5Q=6%L('1O("AI*28C,38P.W1H92!T:')E92UM;VYT
M:"!,;VYD;VX@26YT97)B86YK#0I/9F9E<F5D(%)A=&4@*"8C,30W.TQ)0D]2
M)B,Q-#@[*2P@<&QU<R`H:6DI(&$@<W!E8VEF:65D(&%P<&QI8V%B;&4@;6%R
M9VEN(')A;F=I;F<@8F5T=V5E;B`R+C4P)2!A;F0@,RXU,"4N(%1H92!C<F5D
M:70@9F%C:6QI='DF(S$T-CMS#0IM;VYT:&QY('5N=7-E9"!L:6YE(&9E92!I
M<R`P+C4P)2!O9B!T:&4@86UO=6YT(&)Y('=H:6-H('1H92!M87AI;75M(&-R
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M<R!R97-P;VYS:6)L92!F;W(@82`D,RPP,#`@;6]N=&AL>2!S97)V:6-I;F<@
M9F5E+B!087EM96YT<R!T:&%T(&UA>2!B92!M861E(&)Y($MI;F5R9WD@=&\@
M4&%C:69I8PT*171H86YO;"!A<R!R96EM8G5R<V5M96YT(&9O<B!M86YA9V5M
M96YT(&%N9"!O=&AE<B!S97)V:6-E<R!P<F]V:61E9"!B>2!086-I9FEC($5T
M:&%N;VP@=&\@2VEN97)G>2!A<F4@;&EM:71E9"!T;R`D.#`P+#`P,"!P97(-
M"F9I<V-A;"!Q=6%R=&5R(&EN(#(P,3(L("0Y,#`L,#`P('!E<B!F:7-C86P@
M<75A<G1E<B!I;B`R,#$S+"`D,2PP,#`L,#`P('!E<B!F:7-C86P@<75A<G1E
M<B!I;B`R,#$T(&%N9"`D,2PQ,#`L,#`P('!E<B!F:7-C86P@<75A<G1E<@T*
M:6X@,C`Q-2X@07,@;V8@4V5P=&5M8F5R(#,P+"`R,#$R+"!+:6YE<F=Y(&AA
M9"!U;G5S960@879A:6QA8FEL:71Y('5N9&5R('1H92!R979O;'9I;F<@8W)E
M9&ET(&9A8VEL:71Y(&]F("0T+#(P,"PP,#`N/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
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M('1H86X@)#$P,"PP,#`@;V8@;F5T(&EN8V]M92!I;B!T:&4@<75A<G1E<BX\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/D9O<B!T:&4@9FES8V%L#0IQ=6%R=&5R(&5N9&EN9R!*=6YE(#,P
M+"`R,#$R(&%N9"!E86-H(&9I<V-A;"!Q=6%R=&5R('1H97)E869T97(L($MI
M;F5R9WD@86YD(%!!4"!A<F4@8V]L;&5C=&EV96QY(')E<75I<F5D('1O(&=E
M;F5R871E(&%G9W)E9V%T90T*96%R;FEN9W,@8F5F;W)E(&EN=&5R97-T+"!T
M87AE<RP@9&5P<F5C:6%T:6]N(&%N9"!A;6]R=&EZ871I;VXL(&]R($5"251$
M02P@;V8@)#0U,"PP,#`@9F]R('1H92!Q=6%R=&5R(&%N9"!A9V=R96=A=&4@
M14))5$1!(&]F#0HD,2PQ,#`L,#`P(&9O<B!E86-H('1W;R!C;VYS96-U=&EV
M92!Q=6%R=&5R<RX@5&AE<V4@86UO=6YT<R!A<F4@<F5Q=6ER960@=&AR;W5G
M:"!$96-E;6)E<B`S,2P@,C`Q,RX@26X@,C`Q-"P@=&AE(')E<75I<F5D($5"
M251$00T*86UO=6YT<R!I;F-R96%S92!T;R`D-3`P+#`P,"!P97(@<75A<G1E
M<B!A;F0@)#$L,S`P+#`P,"!F;W(@96%C:"!T=V\@8V]N<V5C=71I=F4@<75A
M<G1E<G,N($9U<G1H97(L(&9O<B!A;&P@;6]N=&AL>2!P97)I;V1S+"!+:6YE
M<F=Y#0IA;F0@4$%0(&UU<W0@8V]L;&5C=&EV96QY(&UA:6YT86EN(&$@9FEX
M960@8VAA<F=E(&-O=F5R86=E(')A=&EO("AC86QC=6QA=&5D(&%S(&$@='=E
M;'9E+6UO;G1H(')O;&QI;F<@14))5$1!(&1I=FED960@8GD@=&AE('-U;0T*
M;V8@:6YT97)E<W0@97AP96YS92P@8V%P:71A;"!E>'!E;F1I='5R97,L('!R
M:6YC:7!A;"!P87EM96YT<R!O9B!I;F1E8G1E9&YE<W,L(&EN9&5B=&5D;F5S
M<R!F<F]M(&-A<&ET86P@;&5A<V5S(&%N9"!T87AE<R!P86ED#0ID=7)I;F<@
M<W5C:"!T=V5L=F4M;6]N=&@@<F]L;&EN9R!P97)I;V0I(&]F(&%T(&QE87-T
M(#(N,"!A;F0@87)E('!R;VAI8FET960@9G)O;2!I;F-U<G)I;F<@86YY(&%D
M9&ET:6]N86P@:6YD96)T961N97-S("AO=&AE<@T*=&AA;B!S<&5C:69I8R!I
M;G1E<F-O;7!A;GD@:6YD96)T961N97-S*2!O<B!M86MI;F<@86YY(&-A<&ET
M86P@97AP96YD:71U<F5S(&EN(&5X8V5S<R!O9B`D,3`P+#`P,"!A8G-E;G0@
M=&AE(&QE;F1E<B8C,30V.W,@<')I;W(-"F-O;G-E;G0N($MI;F5R9WD@86YD
M(%!!4"8C,30V.W,@;V)L:6=A=&EO;G,@=6YD97(@=&AE(&-R961I="!F86-I
M;&ET>2!A<F4@<V5C=7)E9"!B>2!A(&9I<G-T+7!R:6]R:71Y('-E8W5R:71Y
M(&EN=&5R97-T(&EN(&%L;`T*;V8@=&AE:7(@87-S971S(&EN(&9A=F]R(&]F
M('1H92!L96YD97(N(%1H92!#;VUP86YY(&)E;&EE=F5S(&ET(&ES(&EN(&-O
M;7!L:6%N8V4@=VET:"!T:&5S92!C;W9E;F%N=',N/"]F;VYT/CPO<#X-"@T*
M#0H-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\
M:3X\=3Y396YI;W(-"E5N<V5C=7)E9"!.;W1E<SPO=3X\+VD^("8C,34P.R!)
M;B!*=6QY(#(P,3(L(&%S('!A<G0@;V8@=&AE($-O;7!A;GDF(S$T-CMS(&%C
M<75I<VET:6]N(&]F(&%N(&%D9&ET:6]N86P@,S,E(&]W;F5R<VAI<"!I;G1E
M<F5S=`T*:6X@3F5W(%!%($AO;&1C;RP@=&AE($-O;7!A;GD@:7-S=65D('-E
M;FEO<B!U;G-E8W5R960@<')O;6ES<V]R>2!N;W1E<R`H=&AE("8C,30W.TYO
M=&5S)B,Q-#@[*2!D=64@07!R:6P@,3,L(#(P,3,@:6X@=&AE(&%G9W)E9V%T
M90T*<')I;F-I<&%L(&%M;W5N="!O9B`D,3`N,"!M:6QL:6]N+B!);G1E<F5S
M="!O;B!T:&4@=6YP86ED('!R:6YC:7!A;"!A;6]U;G0@86-C<G5E9"!A="!A
M(')A=&4@;V8@-2XP,"4@<&5R(&%N;G5M+B!!<R!D:7-C=7-S960-"FEN($YO
M=&4@,3$L('1H92!#;VUP86YY(')E<&%I9"!T:&4@3F]T97,@:6X@3V-T;V)E
M<B`R,#$R+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y.R!T97AT+6EN9&5N=#H@,&EN
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^4&QA;G0-
M"D]W;F5R<R8C,30V.R!497)M($1E8G0@86YD($]P97)A=&EN9R!,:6YE(&]F
M($-R961I=#PO=3X\+VD^("8C,34P.R!/;B!*=6QY(#$S+"`R,#$R+"!T:&4@
M4&QA;G0@3W=N97)S)B,Q-#8[(&%M96YD960@=&AE:7(@97AI<W1I;F<-"F-R
M961I="!F86-I;&ET:65S+B!0<FEO<B!T;R!T:&4@86UE;F1M96YT+"!T:&4@
M8W)E9&ET(&9A8VEL:71I97,@8V]N<VES=&5D(&]F(&$@)#,U+#`P,"PP,#`@
M<F5V;VQV:6YG(&-R961I="!F86-I;&ET>2P@82`D,C4L,#`P+#`P,`T*=')A
M;F-H92!!+3$@=&5R;2!L;V%N(&%N9"!A("0R-BPS,#`L,#`P('1R86YC:&4@
M02TR('1E<FT@;&]A;BX@56YD97(@=&AE(&%M96YD;65N="P@=&AE(%!L86YT
M($]W;F5R<R8C,30V.R!C<F5D:70@9F%C:6QI=&EE<PT*=V5R92P@86UO;F<@
M;W1H97(@=&AI;F=S+"!A;65N9&5D('1O(&5X=&5N9"!T:&4@;6%T=7)I='D@
M9&%T92!I;B!R97-P96-T(&]F("0T-BPX,#`L,#`P(&]F('1H92!C;VUB:6YE
M9"!R979O;'9I;F<@8W)E9&ET(&9A8VEL:71Y#0IA;F0@=&5R;2!L;V%N<R!F
M<F]M($IU;F4@,C4L(#(P,3,@=&\@2G5N92`S,"P@,C`Q-BX@26X@861D:71I
M;VXL('1H92!A9V=R96=A=&4@8V]M;6ET;65N="!A;6]U;G0@=6YD97(@=&AE
M(')E=F]L=FEN9R!C<F5D:70@9F%C:6QI='D-"G=A<R!I;F-R96%S960@8GD@
M)#4L,#`P+#`P,"X@1G5R=&AE<BP@;6]N=&AL>2!I;G1E<F5S="!P87EM96YT
M<R!D=64@=&\@8V5R=&%I;B!L96YD97)S(&UA>2P@870@=&AE(&]P=&EO;B!O
M9B!T:&4@4&QA;G0@3W=N97)S+`T*8F4@9&5F97)R960@86YD(&%D9&5D('1O
M('1H92!L;V%N<R!M871U<FEN9R!O;B!T:&4@97AT96YD960@;6%T=7)I='D@
M9&%T92!O9B!*=6YE(#,P+"`R,#$V+B!!<R!O9B!397!T96UB97(@,S`L(#(P
M,3(L("0Q+#0P-RPP,#`-"F]F(&%C8W)U960@:6YT97)E<W0@=V%S(&1E9F5R
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M86-E+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GD[('1E>'0M:6YD96YT
M.B`P:6XG/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>3L@=&5X="UI;F1E;G0Z(#!I;B<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/D9O<@T*=&AE(&YI;F4@;6]N=&AS(&5N9&5D
M(%-E<'1E;6)E<B`S,"P@,C`Q,BP@=&AE(%!L86YT($]W;F5R<R!I;F-R96%S
M960@=&AE:7(@8F]R<F]W:6YG<R!U;F1E<B!T:&5I<B!O<&5R871I;F<@;&EN
M92!O9B!C<F5D:70@8GD-"B0Q-BPU,C(L,#`P+CPO9F]N=#X\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GD[('1E
M>'0M:6YD96YT.B`P:6XG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^07,@;V8@4V5P=&5M8F5R#0HS,"P@,C`Q,BP@=&AE(%!L86YT
M($]W;F5R<R!H860@=6YU<V5D(&%V86EL86)I;&ET>2!U;F1E<B!T:&4@<F5V
M;VQV:6YG(&-R961I="!F86-I;&ET>2!O9B`D-S`P+#`P,"X\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D]N
M($]C=&]B97(-"C(Y+"`R,#$R+"!T:&4@4&QA;G0@3W=N97)S(&%M96YD960@
M86YD(')E<W1A=&5D('1H96ER(&5X:7-T:6YG(&-R961I="!F86-I;&ET:65S
M(&%N9"!E;G1E<F5D(&EN=&\@82!N97<@<F5V;VQV:6YG(&-R961I="!F86-I
M;&ET>0T*9F]R(&%N(&%G9W)E9V%T92!A;6]U;G0@;V8@=7`@=&\@)#$P+#`P
M,"PP,#`N(%-E92!.;W1E(#$Q+2!3=6)S97%U96YT($5V96YT<RX\+V9O;G0^
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J
M=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/E1H92!#;VUP86YY#0IH87,@:&%D(&%N9"!C;VYT:6YU97,@=&\@:&%V92!E
M>'1E;G-I=F4@8V]M;75N:6-A=&EO;G,@=VET:"!H;VQD97)S(&]F('1H92`D
M,SDL-3`P+#`P,"!I;B!D96)T(&1U92!*=6YE(#(U+"`R,#$S('1O(')E<W1R
M=6-T=7)E#0IT:&4@97AI<W1I;F<@;&]A;G,@86YD(&%N>2!A9&1I=&EO;F%L
M(&QO86YS('5N9&5R('1H92!N97<@)#$P+#`P,"PP,#`@8W)E9&ET(&9A8VEL
M:71Y+B!4:&4@0V]M<&%N>2!A;'-O(&-O;G1I;G5E<R!T;R!E>'!L;W)E(&ET
M<PT*8V%P:71A;"!R86ES:6YG(&%L=&5R;F%T:79E<RX@5&AE($-O;7!A;GD@
M8F5L:65V97,@=&AA="!I="!W:6QL(&)E(&%B;&4@=&\@<W5C8V5S<V9U;&QY
M(')E<W1R=6-T=7)E('1H92!L;V%N<R!O<B!R86ES92!A9&1I=&EO;F%L#0IC
M87!I=&%L+"!O<B!B;W1H+"!P<FEO<B!T;R!T:&4@2G5N92`R-2P@,C`Q,R!M
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M=&AE("0S.2PU,#`L,#`P(&EN(&1E8G0@*'1O9V5T:&5R('=I=&@@86YY(&%D
M9&ET:6]N86P@9&5B="!U;F1E<B!T:&4@;F5W(&-R961I="!F86-I;&ET>2D@
M9'5E($IU;F4@,C4L(#(P,3,@;W(@<F%I<V4-"G-U9F9I8VEE;G0@8V%P:71A
M;"!T;R!R97!A>2!T:&4@9&5B="P@=&AE($-O;7!A;GD@=VEL;"!B92!I;B!D
M969A=6QT(&]N('1H870@9&5B="!A;F0@:6X@8W)O<W,M9&5F875L="!O;B!T
M:&4@)#0V+#@P,"PP,#`@:6X@9&5B=`T*97AT96YD960@=&\@2G5N92`S,"P@
M,C`Q-BP@86QL(&]F('=H:6-H+"!T;W1A;&EN9R`D.3$L,S`P+#`P,"!P;'5S
M(&%N>2!A;6]U;G1S(&)O<G)O=V5D('5N9&5R('1H92!N97<@8W)E9&ET(&9A
M8VEL:71Y+`T*=VEL;"!B92!A8V-E;&5R871E9"!A;F0@:6UM961I871E;'D@
M9'5E(&%N9"!P87EA8FQE(&]N($IU;F4@,C4L(#(P,3,N($%S(&$@<F5S=6QT
M+"!T:&4@0V]M<&%N>2!A;F0@:71S(&1I<F5C="!A;F0@:6YD:7)E8W0@<W5B
M<VED:6%R:65S+`T*:6YC;'5D:6YG($MI;F5R9WD@86YD('1H92!0;&%N="!/
M=VYE<G,L('=I;&P@;&EK96QY(&5X<&5R:65N8V4@;6%T97)I86P@861V97)S
M92!E9F9E8W1S+CPO9F]N=#X\+W`^#0H-"@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y.R!T97AT+6EN9&5N=#H@,&EN
M)SX\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^/&D^/'4^3F]T90T*4&%Y86)L92!T;R!296QA=&5D(%!A<G1Y/"]U/CPO
M:3X@)B,Q-3`[($]N($UA<F-H(#,Q+"`R,#`Y+"!T:&4@0V]M<&%N>28C,30V
M.W,@0VAI968@17AE8W5T:79E($]F9FEC97(@<')O=FED960@9G5N9',@:6X@
M86X@86=G<F5G871E#0IA;6]U;G0@;V8@)#$L,#`P+#`P,"!F;W(@9V5N97)A
M;"!W;W)K:6YG(&-A<&ET86P@<'5R<&]S97,L(&EN(&5X8VAA;F=E(&9O<B!A
M;B!U;G-E8W5R960@<')O;6ES<V]R>2!N;W1E(&ES<W5E9"!B>2!T:&4@0V]M
M<&%N>2X-"DEN=&5R97-T(&]N('1H92!U;G!A:60@<')I;F-I<&%L(&%M;W5N
M="!A8V-R=65S(&%T(&$@<F%T92!O9B`X+C`P)2!P97(@86YN=6TN(%1H92!#
M;VUP86YY(')E8V]R9&5D(&EN=&5R97-T('5N9&5R('1H:7,@;F]T92!O9@T*
M87!P<F]X:6UA=&5L>2`D,34L,#`P(&%N9"`D,C`L,#`P(&9O<B!T:&4@=&AR
M964@;6]N=&AS(&5N9&5D(%-E<'1E;6)E<B`S,"P@,C`Q,B!A;F0@,C`Q,2P@
M<F5S<&5C=&EV96QY+B`@07,@;V8-"D1E8V5M8F5R(#,Q+"`R,#$Q+"!T:&4@
M<F5M86EN:6YG(&%M;W5N="!O9B`D-S4P+#`P,"!W87,@9'5E(&%N9"!P87EA
M8FQE(&]N('1H92!E>'1E;F1E9"!M871U<FET>2!D871E(&]F($UA<F-H(#,Q
M+"`R,#$R+B!/;B!-87)C:`T*-RP@,C`Q,BP@=&AE(&UA='5R:71Y(&1A=&4@
M=V%S(&9U<G1H97(@97AT96YD960@=&\@36%R8V@@,S$L(#(P,3,N/"]F;VYT
M/CPO<#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3&]N9RUT97)M
M#0ID96)T(&ES('-U;6UA<FEZ960@:6X@=&AE(&9O;&QO=VEN9R!T86)L92`H
M:6X@=&AO=7-A;F1S*3H\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E
M;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@=VED=&@Z(#$P
M,"4G/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&-O;'-P86X],T0V('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA
M;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M1&5C96UB97(-"B`@("`S,2P\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N
M="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG
M:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT
M.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXR,#$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O
M;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,#$P
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@-S(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M2VEN97)G>2!O<&5R871I;F<@;&EN92!O9B!C<F5D:70\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$Q
M)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXR,"PT,S(\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3$E.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$S+#0W
M-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4]
M,T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DYO=&5S
M('!A>6%B;&4@=&\@<F5L871E9"!P87)T:65S/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C<U,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXQ+#(U,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3F5W(%!%($AO;&1C;R!T
M97)M(&1E8G0\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-3$L,C<Y/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4Q+#(W.3PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY.97<@4$4@2&]L9&-O(&]P97)A=&EN9R!L:6YE
M(&]F(&-R961I=#PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,2PY-S@\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,3@L.3<X
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T
M<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K
M9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/D-O;G9E<G1I8FQE(&YO=&5S+"!A="!F86ER('9A;'5E/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,S@L,3`X/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M
M8V]L;W(Z("-%145%144G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CDT+#0S.3PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXQ,C,L,#@Y/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A
M<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/DQE<W,@8W5R<F5N="!P;W)T:6]N/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P
M="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH-S4P/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,S@L,3`X/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%
M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQO;F<M=&5R;2!D96)T/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXY,RPV.#D\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C@T
M+#DX,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\+W1A8FQE
M/@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\
M=3Y+:6YE<F=Y#0I,:6YE(&]F($-R961I=#PO=3X\+VD^("8C,34P.R!+:6YE
M<F=Y(&AA<R!A('=O<FMI;F<@8V%P:71A;"!L:6YE(&]F(&-R961I="!I;B!A
M;B!A9V=R96=A=&4@86UO=6YT(&]F('5P('1O("0S,"PP,#`L,#`P+"!W:71H
M#0IA;B!O<'1I;VYA;"!A8V-O<F1I;VX@9F5A='5R92!O9B!A;B!A9&1I=&EO
M;F%L("0U+#`P,"PP,#`N(%1H92!C<F5D:70@9F%C:6QI='D@:7,@8F%S960@
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M=&\@*&DI)B,Q-C`[=&AE('1H<F5E+6UO;G1H($QO;F1O;B!);G1E<F)A;FL-
M"D]F9F5R960@4F%T92`H)B,Q-#<[3$E"3U(F(S$T.#LI+"!P;'5S("AI:2D@
M82!S<&5C:69I960@87!P;&EC86)L92!M87)G:6X@<F%N9VEN9R!B971W965N
M(#,N-3`E(&%N9"`T+C4P)2X@5&AE(&%P<&QI8V%B;&4@;6%R9VEN#0IW87,@
M,RXU,"4@870@1&5C96UB97(@,S$L(#(P,3$N(%1H92!C<F5D:70@9F%C:6QI
M='DF(S$T-CMS(&UO;G1H;'D@=6YU<V5D(&QI;F4@9F5E(&ES(#`N-3`E(&]F
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M8FQE(&9O<B!A("0S+#`P,"!M;VYT:&QY#0IS97)V:6-I;F<@9F5E+B!087EM
M96YT<R!T:&%T(&UA>2!B92!M861E(&)Y($MI;F5R9WD@=&\@=&AE($-O;7!A
M;GD@87,@<F5I;6)U<G-E;65N="!F;W(@;6%N86=E;65N="!A;F0@;W1H97(@
M<V5R=FEC97,@<')O=FED960-"F)Y('1H92!#;VUP86YY('1O($MI;F5R9WD@
M87)E(&QI;6ET960@=&\@)#@P,"PP,#`@<&5R(&9I<V-A;"!Q=6%R=&5R(&EN
M(#(P,3(@86YD("0X-3`L,#`P('!E<B!F:7-C86P@<75A<G1E<B!I;B`R,#$S
M+B!+:6YE<F=Y#0II<R!R97%U:7)E9"!T;R!M965T('-P96-I9FEE9"!%0DE4
M1$$@86YD(&9I>&5D(&-O=F5R86=E(')A=&EO(&9I;F%N8VEA;"!C;W9E;F%N
M=',@=6YD97(@=&AE(&-R961I="!F86-I;&ET>2P@87,@86UE;F1E9"P@86YD
M(&ES#0IP<F]H:6)I=&5D(&9R;VT@:6YC=7)R:6YG(&%N>2!A9&1I=&EO;F%L
M(&EN9&5B=&5D;F5S<R`H;W1H97(@=&AA;B!S<&5C:69I8R!I;G1E<F-O;7!A
M;GD@:6YD96)T961N97-S*2!O<B!M86MI;F<@86YY(&-A<&ET86P@97AP96YD
M:71U<F5S#0II;B!E>&-E<W,@;V8@)#$P,"PP,#`@86)S96YT('1H92!L96YD
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M8V5M8F5R(#,Q+"`R,#$S+B!4:&4@0V]M<&%N>2!H87,@9W5A<F%N=&5E9"!A
M;&P@;V8@2VEN97)G>28C,30V.W,@;V)L:6=A=&EO;G,-"G5N9&5R('1H92!L
M:6YE(&]F(&-R961I="X@07,@;V8@1&5C96UB97(@,S$L(#(P,3$L($MI;F5R
M9WD@:&%D(&%N(&%V86EL86)L92!B;W)R;W=I;F<@8F%S92!U;F1E<B!T:&4@
M8W)E9&ET(&9A8VEL:71Y(&]F("0R-BPU-C0L,#`P#0IA;F0@86X@;W5T<W1A
M;F1I;F<@8F%L86YC92!O9B`D,C`L-#,R+#`P,"X\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/DYO
M=&5S#0I087EA8FQE('1O(%)E;&%T960@4&%R=&EE<SPO=3X\+VD^("8C,34P
M.R!/;B!-87)C:"`S,2P@,C`P.2P@=&AE($-O;7!A;GDF(S$T-CMS($-H86ER
M;6%N(&]F('1H92!";V%R9"!A;F0@:71S($-H:65F($5X96-U=&EV90T*3V9F
M:6-E<B!P<F]V:61E9"!F=6YD<R!I;B!A;B!A9V=R96=A=&4@86UO=6YT(&]F
M("0R+#`P,"PP,#`@9F]R(&=E;F5R86P@=V]R:VEN9R!C87!I=&%L('!U<G!O
M<V5S+"!I;B!E>&-H86YG92!F;W(@='=O('5N<V5C=7)E9`T*<')O;6ES<V]R
M>2!N;W1E<R!I<W-U960@8GD@=&AE($-O;7!A;GDN($EN=&5R97-T(&]N('1H
M92!U;G!A:60@<')I;F-I<&%L(&%M;W5N=',@86-C<G5E<R!A="!A(')A=&4@
M;V8@."XP,"4@<&5R(&%N;G5M+B!!;&P@<')I;F-I<&%L#0IA;F0@86-C<G5E
M9"!A;F0@=6YP86ED(&EN=&5R97-T(&]N('1H92!P<F]M:7-S;W)Y(&YO=&5S
M('=A<R!I;FET:6%L;'D@9'5E(&%N9"!P87EA8FQE(&EN($UA<F-H(#(P,3`N
M($]N($]C=&]B97(@,CDL(#(P,3`L('1H90T*0V]M<&%N>2!P86ED(&%L;"!A
M8V-R=65D(&EN=&5R97-T(&%N9"`D-S4P+#`P,"!I;B!P<FEN8VEP86P@=6YD
M97(@=&AE<V4@;F]T97,N($]N($YO=F5M8F5R(#,P+"`R,#$Q+"!T:&4@0V]M
M<&%N>2!P86ED("0U,#`L,#`P#0II;B!P<FEN8VEP86P@=6YD97(@=&AE<V4@
M;F]T97,N(%1H92!#;VUP86YY(')E8V]R9&5D(&EN=&5R97-T('5N9&5R('1H
M97-E(&YO=&5S(&]F(&%P<')O>&EM871E;'D@)#DW+#`P,"!A;F0@)#$T.2PP
M,#`@9F]R('1H90T*>65A<G,@96YD960@1&5C96UB97(@,S$L(#(P,3$@86YD
M(#(P,3`L(')E<W!E8W1I=F5L>2X@07,@;V8@1&5C96UB97(@,S$L(#(P,3$L
M('1H92!R96UA:6YI;F<@86UO=6YT(&]F("0W-3`L,#`P('=A<R!D=64@86YD
M('!A>6%B;&4-"F]N('1H92!E>'1E;F1E9"!M871U<FET>2!D871E(&]F($UA
M<F-H(#,Q+"`R,#$R+B!/;B!-87)C:"`W+"`R,#$R+"!T:&4@;6%T=7)I='D@
M9&%T92!W87,@9G5R=&AE<B!E>'1E;F1E9"!T;R!-87)C:"`S,2P@,C`Q,RX\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/CQI/CQU/DYE=PT*4$4@2&]L9&-O(%1E<FT@1&5B="!A;F0@3W!E
M<F%T:6YG($QI;F4@;V8@0W)E9&ET/"]U/CPO:3X@)B,Q-3`[($]N('1H92!%
M9F9E8W1I=F4@1&%T92P@87!P<F]X:6UA=&5L>3QI/CQU/B8C,38P.SPO=3X\
M+VD^)#(Y-"PT-S@L,#`P#0II;B!P<F5P971I=&EO;B!A;F0@<&]S="!P971I
M=&EO;B!S96-U<F5D(&EN9&5B=&5D;F5S<R!O9B!T:&4@4&QA;G0@3W=N97)S
M('=A<R!R97-T<G5C='5R960@=6YD97(@82!#<F5D:70@06=R965M96YT(&5N
M=&5R960@:6YT;PT*;VX@2G5N928C,38P.S(U+"`R,#$P(&%M;VYG('1H92!0
M;&%N="!/=VYE<G,L(&%S(&)O<G)O=V5R<RP@86YD('9A<FEO=7,@;&5N9&5R
M<RX@56YD97(@=&AE(%!L86XL('1H92!0;&%N="!/=VYE<G,F(S$T-CL@97AI
M<W1I;F<-"G!R97!E=&ET:6]N(&%N9"!P;W-T('!E=&ET:6]N('-E8W5R960@
M:6YD96)T961N97-S(&]F(&%P<')O>&EM871E;'D@)#(Y-"PT-S@L,#`P('=A
M<R!R97-T<G5C='5R960@=&\@8V]N<VES="!O9B!A<'!R;WAI;6%T96QY#0HD
M-3`L,#`P+#`P,"P@<&QU<R!A8V-R=65D(&EN=&5R97-T(&]F("0Q+#(W.2PP
M,#`L(&EN('1H<F5E+7EE87(@=&5R;2!L;V%N<R!A;F0@82!N97<@=&AR964M
M>65A<B!R979O;'9I;F<@8W)E9&ET(&9A8VEL:71Y(&]F('5P#0IT;R`D,S4L
M,#`P+#`P,"!T;R!F=6YD('=O<FMI;F<@8V%P:71A;"!R97%U:7)E;65N=',@
M;V8@3F5W(%!%($AO;&1C;RX@5&AE('1E<FT@;&]A;B!A;F0@<F5V;VQV:6YG
M(&-R961I="!F86-I;&ET>2!R97%U:7)E(&UO;G1H;'D-"FEN=&5R97-T('!A
M>6UE;G1S(&%T(&$@9FQO871I;F<@<F%T92!E<75A;"!T;R!T:&4@=&AR964M
M;6]N=&@@3$E"3U(@;W(@=&AE(%!R:6UE(%)A=&4@;V8@:6YT97)E<W0L(&%S
M(&5L96-T960@8GD@=&AE(&)O<G)O=V5R+`T*<&QU<R`Q,"XP)2X@070@1&5C
M96UB97(@,S$L(#(P,3$L('1H92!R871E('=A<R!A<'!R;WAI;6%T96QY(#$S
M+C(U)2X@4F5P87EM96YT<R!O9B!P<FEN8VEP86P@87)E(&)A<V5D(&]N(&%V
M86EL86)L92!F<F5E(&-A<V@-"F9L;W<@;V8@=&AE(&)O<G)O=V5R+"!U;G1I
M;"!M871U<FET>2P@=VAE;B!A;&P@<')I;F-I<&%L(&%M;W5N=',@87)E(&1U
M92X@5&AE('1E<FT@;&]A;B!A;F0@<F5V;VQV:6YG(&-R961I="!F86-I;&ET
M>2!R97!R97-E;G0-"G!E<FUA;F5N="!F:6YA;F-I;F<@86YD(&%R92!C;VQL
M871E<F%L:7IE9"!B>2!A('!E<F9E8W1E9"P@9FER<W0M<')I;W)I='D@<V5C
M=7)I='D@:6YT97)E<W0@:6X@86QL(&]F('1H92!A<W-E=',L(&EN8VQU9&EN
M9R!I;G9E;G1O<FEE<PT*86YD(&%L;"!R:6=H=',L('1I=&QE(&%N9"!I;G1E
M<F5S="!I;B!A;&P@=&%N9VEB;&4@86YD(&EN=&%N9VEB;&4@87-S971S+"!O
M9B!.97<@4$4@2&]L9&-O+B!4:&4@8W)E9&ET;W)S(&]F($YE=R!012!(;VQD
M8V\@9&\-"FYO="!H879E(')E8V]U<G-E('1O('1H92!#;VUP86YY+B!!<R!O
M9B!$96-E;6)E<B`S,2P@,C`Q,2P@3F5W(%!%($AO;&1C;R!H860@86X@;W5T
M<W1A;F1I;F<@;&5T=&5R(&]F(&-R961I="!O9B!A<'!R;WAI;6%T96QY#0HD
M.#0T+#`P,"P@=6YU<V5D(&%V86EL86)I;&ET>2!U;F1E<B!T:&4@8W)E9&ET
M(&9A8VEL:71Y(&]F("0Q,BPQ-S@L,#`P(&%N9"!A;B!O=71S=&%N9&EN9R!B
M86QA;F-E(&]F("0R,2PY-S@L,#`P+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^0V]N=F5R=&EB
M;&4-"DYO=&5S/"]U/CPO:3X@)B,Q-3`[($]N($]C=&]B97(@-BP@,C`Q,"P@
M=&AE($-O;7!A;GD@<F%I<V5D("0S-2PP,#`L,#`P('1H<F]U9V@@=&AE(&ES
M<W5A;F-E(&%N9"!S86QE(&]F("0S-2PP,#`L,#`P(&EN('!R:6YC:7!A;`T*
M86UO=6YT(&]F('-E8W5R960@8V]N=F5R=&EB;&4@;F]T97,@*"8C,30W.TEN
M:71I86P@3F]T97,F(S$T.#LI(&%N9"!W87)R86YT<R`H)B,Q-#<[26YI=&EA
M;"`R,#$P(%=A<G)A;G1S)B,Q-#@[*2!T;R!P=7)C:&%S90T*86X@86=G<F5G
M871E(&]F(#(L.30Q+#$W."!S:&%R97,@;V8@=&AE($-O;7!A;GDF(S$T-CMS
M(&-O;6UO;B!S=&]C:RX@3VX@2F%N=6%R>2`W+"`R,#$Q+"!T:&4@0V]M<&%N
M>2!I<W-U960@)#,U+#`P,"PP,#`@:6X@<')I;F-I<&%L#0IA;6]U;G0@;V8@
M<V5C=7)E9"!C;VYV97)T:6)L92!N;W1E<R`H)B,Q-#<[2F%N=6%R>2!#;VYV
M97)T:6)L92!.;W1E<R8C,30X.RD@:6X@97AC:&%N9V4@9F]R('1H92!);FET
M:6%L($YO=&5S(&%N9"!W87)R86YT<R`H)B,Q-#<[,C`Q,`T*5V%R<F%N=',F
M(S$T.#LI('1O('!U<F-H87-E(&%N(&%G9W)E9V%T92!O9B`R+#DT,2PQ-S@@
M<VAA<F5S(&]F('1H92!#;VUP86YY)B,Q-#8[<R!C;VUM;VX@<W1O8VL@:6X@
M97AC:&%N9V4@9F]R('1H92!);FET:6%L#0HR,#$P(%=A<G)A;G1S+B!4:&4@
M=')A;G-A8W1I;VYS(&-O;G1E;7!L871E9"!B>2!T:&4@97AC:&%N9V4@86=R
M965M96YT<R!W97)E(&5N=&5R960@:6YT;R!T;RP@86UO;F<@;W1H97(@=&AI
M;F=S+"!C;&%R:69Y('!R979I;W5S;'D-"F%M8FEG=6]U<R!L86YG=6%G92!I
M;B!T:&4@26YI=&EA;"!.;W1E<R!A;F0@26YI=&EA;"`R,#$P(%=A<G)A;G1S
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M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D]N($IU;F4@,S`L
M#0HR,#$Q+"!T:&4@0V]M<&%N>2!I<W-U960@)#(S+#<U,"PP,#`@:6X@<')I
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M('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q+CPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3VX@
M075G=7-T#0HS+"`R,#$Q+"!U;F1E<B!T:&4@=&5R;7,@;V8@97AC:&%N9V4@
M86=R965M96YT<R!W:71H('1H92!H;VQD97)S(&]F('1H92!*=6YE($-O;G9E
M<G1I8FQE($YO=&5S+"!T:&4@0V]M<&%N>2!I<W-U960@87!P<F]X:6UA=&5L
M>0T*)#$W+#$W,"PP,#`@:6X@<')I;F-I<&%L(&%M;W5N="P@<F5F;&5C=&EN
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M:&4@<')I8V4@9F%I;'5R92!T:')E<VAO;&0@9G)O;2`D,2XT,"!T;R`D,"XV
M,"X@07,@9&ES8W5S<V5D(&)E;&]W+"!T:&4@0V]N=F5R=&EB;&4-"DYO=&5S
M(&%R92!V86QU960@870@9F%I<B!V86QU92P@86YD(&%S('-U8V@L('1H97-E
M(&UO9&EF:6-A=&EO;G,@87)E(')E9FQE8W1E9"!I;B!T:&4@9F%I<B!V86QU
M92!A9&IU<W1M96YT<R!F;W(@=&AE('EE87(@96YD960-"D1E8V5M8F5R(#,Q
M+"`R,#$Q+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
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M,C`Q,B`H8V]L;&5C=&EV96QY+"!T:&4@)B,Q-#<[26YS=&%L;&UE;G0@1&%T
M97,F(S$T.#LI+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^3VX@96%C:"!);G-T86QL;65N=`T*1&%T92P@
M=&AE($-O;7!A;GD@=V%S('1O('!A>2!A;B!A;6]U;G0@;V8@<')I;F-I<&%L
M+"!A<R!T:&5N(&1E=&5R;6EN960@=6YD97(@=&AE(&-O;G9E<G1I8FQE(&YO
M=&5S(&%N9"!A;GD@86-C<G5E9"!A;F0@=6YP86ED#0II;G1E<F5S="`H=&AE
M("8C,30W.TEN<W1A;&QM96YT($%M;W5N="8C,30X.RDN(%1H92!#;VUP86YY
M(&-O=6QD(&5L96-T('1O('!A>2!T:&4@26YS=&%L;&UE;G0@06UO=6YT(&EN
M(&-A<V@@;W(@<VAA<F5S(&]F(&ET<PT*8V]M;6]N('-T;V-K+"!S=6)J96-T
M('1O('1H92!S871I<V9A8W1I;VX@;V8@8V5R=&%I;B!C;VYD:71I;VYS+CPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
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M;F<@<&%I9`T*:6X@<VAA<F5S(&]F('1H92!#;VUP86YY)B,Q-#8[<R!C;VUM
M;VX@<W1O8VL@9&EV:61E9"!B>2!T:&4@;&5S<V5R(&]F('1H92!T:&5N(&5X
M:7-T:6YG(&-O;G9E<G-I;VX@<')I8V4@86YD(#@U)2!O9B!T:&4@879E<F%G
M90T*;V8@=&AE('9O;'5M92!W96EG:'1E9"!A=F5R86=E('!R:6-E<R!O9B!T
M:&4@-2!L;W=E<W0@=')A9&EN9R!D87ES(&1U<FEN9R!T:&4@,C`@8V]N<V5C
M=71I=F4@=')A9&EN9R!D87D@<&5R:6]D(&5N9&EN9R!O;B!T:&4-"G1R861I
M;F<@9&%Y(&EM;65D:6%T96QY('!R:6]R('1O('1H92!A<'!L:6-A8FQE($EN
M<W1A;&QM96YT($1A=&4N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/D%L;"!A;6]U;G1S#0ID=64@=6YD97(@=&AE(&-O
M;G9E<G1I8FQE(&YO=&5S('=E<F4@86QS;R!C;VYV97)T:6)L92!A="!A;GD@
M=&EM92P@:6X@=VAO;&4@;W(@:6X@<&%R="P@870@=&AE(&]P=&EO;B!O9B!T
M:&4@:&]L9&5R<R!I;G1O('-H87)E<PT*;V8@=&AE($-O;7!A;GDF(S$T-CMS
M(&-O;6UO;B!S=&]C:R!A="!A('-P96-I9FEE9"!C;VYV97)S:6]N('!R:6-E
M+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
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M:7-S=6%N8V4@:6X@3V-T;V)E<B`R,#$P+"!W:71H('-U8V@@861J=7-T;65N
M=',@<F5F;&5C=&5D(&EN(&9A:7(@=F%L=64@861J=7-T;65N=',@;VX@8V]N
M=F5R=&EB;&4-"F1E8G0@86YD('=A<G)A;G1S(&EN('1H92!S=&%T96UE;G1S
M(&]F(&]P97)A=&EO;G,N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4:&4@0V]M<&%N>0T*<F5C;W)D960@
M:6YC;VUE(&]F("0W+#4U.2PP,#`@86YD(&5X<&5N<V4@;V8@)#$Q+#<S-BPP
M,#`@9F]R(&9A:7(@=F%L=64@861J=7-T;65N=',@9F]R('1H92!Y96%R<R!E
M;F1E9"!$96-E;6)E<B`S,2P@,C`Q,2!A;F0-"C(P,3`L(')E<W!E8W1I=F5L
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M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4:&4@
M9F]L;&]W:6YG#0IT86)L92!S=6UM87)I>F5S('1H92!);G-T86QL;65N="!!
M;6]U;G1S(&%N9"!A9&1I=&EO;F%L(&-O;G9E<G-I;VYS(&)Y('1H92!N;W1E
M(&AO;&1E<G,@=&AR;W5G:"!T:&5I<B!R971I<F5M96YT(&]N($YO=F5M8F5R
M(#$T+`T*,C`Q,2`H:6X@=&AO=7-A;F1S*3H\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-
M"@T*/'1A8FQE(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN9STS1#`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@=VED=&@Z(#$P,"4G/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD.R!T
M97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY0<FEN8VEP86P\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW
M96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E
M;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DEN=&5R97-T
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@
M9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O
M;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4;W1A;#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@
M=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^0V]M;6]N#0H@("`@4VAA<F5S/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-#0E)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^26YS=&%L;&UE;G0@06UO=6YT("8C
M,34P.R!1,2`R,#$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,RPU,#`\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H
M.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,3$E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/C$L,C8S/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$Q)3L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXT+#<V,SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,2PQ-#@\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY);G-T86QL;65N="!!;6]U;G0@)B,Q-3`[(#4O,B\R
M,#$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C,L-3`P/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,X,SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXS+#@X,SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,2PS.38\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T
M>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L
M;W(Z('=H:71E)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/DEN<W1A;&QM96YT($%M;W5N="`F(S$U,#L@-B\Q+S(P,3$\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,RPS-3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,3<V/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,L-3(V/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#4V,SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%
M145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY(;VQD97(@0V]N=F5R<VEO;G,@)B,Q-3`[(%$R(#(P,3$\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^.3`P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO
M=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C0Y/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/CDT.3PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^-#(X/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY);G-T86QL;65N="!!
M;6]U;G0@)B,Q-3`[(#<O,2\R,#$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,L-#4P
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C$U.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXS+#8P.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,RPS,3,\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T
M;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^26YS=&%L;&UE;G0@06UO=6YT
M("8C,34P.R`Y+S$O,C`Q,3PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR.#,\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,30T
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C0R-SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*CPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^2&]L9&5R($-O;G9E<G-I;VYS("8C,34P.R!1,R`R,#$Q
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/C$P+#8X.#PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^-C0Y/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/C$Q+#,S-SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^,C<L,30T/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA
M;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DEN<W1A;&QM
M96YT($%M;W5N="`F(S$U,#L@,3`O,R\R,#$Q/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/CDR.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-C0\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^.3DS
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXJ/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B!W:&ET92<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY);G-T86QL;65N="!!;6]U;G0@)B,Q-3`[(#$Q+S$O,C`Q,3PO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXM+3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^-3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXU/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A
M<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXJ/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O
M=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^2&]L9&5R($-O;G9E<G-I;VYS("8C,34P.R!1-"`R,#$Q/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXX+#0P,#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXS
M.3<\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@
M<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^."PW.3<\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C(X+#@V-SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,U+#`P,#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,RPR.#D\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@
M9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C,X+#(X.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R
M87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P
M="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXV,RPX-3D\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"@T*#0H\:'(@<VEZ
M93TS1#$@;F]S:&%D93TS1&YO<VAA9&4@86QI9VX],T1L969T('-T>6QE/3-$
M)W=I9'1H.B`Q,"4[(&-O;&]R.B!B;&%C:R<@+SX-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BH@
M0V%S:"!P87EM96YT<SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#LF
M(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^/&D^/'4^4F5G:7-T<F%T:6]N#0I2:6=H=',@06=R965M96YT/"]U
M/B8C,38P.SPO:3XF(S$U,#L@26X@8V]N;F5C=&EO;B!W:71H('1H92!S86QE
M(&]F('1H92!);FET:6%L($YO=&5S("AA;F0@0V]N=F5R=&EB;&4@3F]T97,I
M(&%N9"!T:&4@26YI=&EA;`T*,C`Q,"!787)R86YT<RP@=&AE($-O;7!A;GD@
M96YT97)E9"!I;G1O(&$@<F5G:7-T<F%T:6]N(')I9VAT<R!A9W)E96UE;G0@
M=VET:"!A;&P@;V8@=&AE(&EN=F5S=&]R<R!T;R!F:6QE(&$@<F5G:7-T<F%T
M:6]N('-T871E;65N=`T*;VX@1F]R;2!3+3$@=VET:"!T:&4@4V5C=7)I=&EE
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M=F5R=&EB;&4@3F]T97,N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y);G1E<F5S=`T*17AP96YS
M92!O;B!";W)R;W=I;F=S/"]U/CPO:3X@)B,Q-3`[($EN=&5R97-T(&5X<&5N
M<V4@;VX@86QL(&)O<G)O=VEN9W,@9&ES8W5S<V5D(&%B;W9E('=A<R`D,30L
M.#$S+#`P,"!A;F0@)#8L,C8Q+#`P,"!F;W(@=&AE#0IY96%R<R!E;F1E9"!$
M96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"P@<F5S<&5C=&EV96QY+CPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^3&]N9RUT97)M#0ID96)T(&1U92!I;B!E86-H(&]F('1H92!N97AT('1W
M;R!Y96%R<R!I<R!A<R!F;VQL;W=S("AI;B!T:&]U<V%N9',I.CPO9F]N=#X\
M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]P/@T*#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP861D
M:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT
M97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY996%R<R!%;F1E
M9"!$96-E;6)E<B`S,2P\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C96YT97(G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D%M;W5N=#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#8W
M)3L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^,C`Q,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@,B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,C<E.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C<U,#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z
M(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@
M8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXR,#$S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N
M-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CDS+#8X.3PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#-P=#L@<&%D9&EN9RUL969T.B`Y<'0[('1E>'0M86QI9VXZ(&-E
M;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1O=&%L/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S
M<'0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE
M.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/CDT+#0S.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\+W1A8FQE/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X
M=%!A<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#
M;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U
M.5\Y.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T,3(N:'1M;`T*
M0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*
M0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*
M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O
M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M
M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N
M:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\
M+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I
M9#TS1$E$,$521SX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$
M=&P@8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SXV+B!#3TU-3TX@
M4U1/0TL@04Y$(%=!4E)!3E13/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@
M(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/CD@36]N=&AS($5N9&5D/"]T
M:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N
M=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@
M("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@
M("`@("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY#;VUM;VX@4W1O
M8VL@06YD(%=A<G)A;G1S/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/C8N($-/34U/3B!35$]#2R!!3D0@5T%24D%.5%,\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>3L@=&5X="UI;F1E;G0Z(#!I;B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>3L@
M=&5X="UI;F1E;G0Z(#!I;B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/D9O<@T*=&AE(&YI;F4@;6]N=&AS(&5N9&5D(%-E<'1E;6)E<B`S,"P@
M,C`Q,BP@8V5R=&%I;B!W87)R86YT(&AO;&1E<G,@97AE<F-I<V5D('=A<G)A
M;G1S(&EN(')E<W!E8W0@;V8@,C4R+#$P,2!S:&%R97,@;V8@8V]M;6]N('-T
M;V-K#0IO;B!A(&-A<VAL97-S(&5X97)C:7-E(&)A<VES+"!R97-U;'1I;F<@
M:6X@,3<R+#(V.2!N970@<VAA<F5S(&]F(&-O;6UO;B!S=&]C:R!I<W-U960@
M8GD@=&AE($-O;7!A;GDN($9O<B!T:&4@;FEN92!M;VYT:',-"F5N9&5D(%-E
M<'1E;6)E<B`S,"P@,C`Q,BP@8V5R=&%I;B!W87)R86YT(&AO;&1E<G,@97AE
M<F-I<V5D('=A<G)A;G1S(&EN(')E<W!E8W0@;V8@-3`L,#`P('-H87)E<R!O
M9B!C;VUM;VX@<W1O8VL@9F]R("0R-BPU,#`@:6X-"F-A<V@N/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M.R!T97AT+6EN9&5N=#H@,&EN)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^/&D^/'4^2G5L>2!/9F9E<FEN9PT*/"]U/CPO:3XF(S$U,#L@
M3VX@2G5L>2`S+"`R,#$R+"!T:&4@0V]M<&%N>2!R86ES960@)#$P+#DP,RPP
M,#`L(&YE="!O9B`D,2PQ,S<L,#`P(&]F('5N9&5R=W)I=&EN9R!A;F0@:7-S
M=6%N8V4@8V]S=',L('1H<F]U9V@-"F$@<'5B;&EC(&]F9F5R:6YG(&]F('5N
M:71S(&-O;G-I<W1I;F<@;V8@86X@86=G<F5G871E(&]F(#(X+#`P,"PP,#`@
M<VAA<F5S(&]F(&-O;6UO;B!S=&]C:RP@=V%R<F%N=',@=&\@<'5R8VAA<V4@
M,C@L,#`P+#`P,"!S:&%R97,-"F]F(&-O;6UO;B!S=&]C:R!A="!A;B!E>&5R
M8VES92!P<FEC92!O9B`D,"XV,R!P97(@<VAA<F4@=VET:"!A('1E<FT@;V8@
M9FEV92!Y96%R<R!A;F0@=V%R<F%N=',@=&\@<'5R8VAA<V4@,30L,#`P+#`P
M,"!S:&%R97,@;V8-"F-O;6UO;B!S=&]C:R!A="!A;B!E>&5R8VES92!P<FEC
M92!O9B`D,"XU,R!P97(@<VAA<F4@=VET:"!A('1E<FT@;V8@96EG:'1E96X@
M;6]N=&AS("@F(S$T-SM*=6QY($]F9F5R:6YG)B,Q-#@[*2P@=VAI8V@@=V%R
M<F%N=`T*97AE<F-I<V4@<')I8V5S(&%R92!S=6)J96-T('1O(&%D:G5S=&UE
M;G0N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^5&AE('=A<G)A;G1S#0II<W-U960@:6X@=&AE($IU;'D@3V9F97)I;F<@
M87)E('-U8FIE8W0@=&\@82`F(S$T-SMW96EG:'1E9"UA=F5R86=E)B,Q-#@[
M(&%N=&DM9&EL=71I;VX@861J=7-T;65N="!I9B!T:&4@0V]M<&%N>2!I<W-U
M97,@;W(@:7,-"F1E96UE9"!T;R!H879E(&ES<W5E9"!S96-U<FET:65S(&%T
M(&$@<')I8V4@;&]W97(@=&AA;B!T:&4@=&AE;B!A<'!L:6-A8FQE('=A<G)A
M;G0@97AE<F-I<V4@<')I8V5S+B!);B!397!T96UB97(@,C`Q,BP@87,@9&ES
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M=',@87)E("0P+C4P('!E<B!S:&%R92!A;F0@)#`N-#,@<&5R('-H87)E+`T*
M<F5S<&5C=&EV96QY+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E1H92!#;VUP86YY(&%C8V]U;G1E9`T*9F]R('1H92!N
M970@<')O8V5E9',@;V8@=&AE($IU;'D@3V9F97)I;F<@8GD@9FER<W0@86QL
M;V-A=&EN9R!T:&4@)#,L,S@P+#`P,"!F86ER('9A;'5E(&]F('1H92!W87)R
M86YT<R!T;R!L:6%B:6QI=&EE<R!A;F0@=&AE;@T*86QL;V-A=&EN9R!T:&4@
M<F5M86EN:6YG(&%M;W5N="!T;R!E<75I='DN/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^4V5P=&5M8F5R#0I/
M9F9E<FEN9SPO=3X@/"]I/B8C,34P.R!/;B!397!T96UB97(@,C8L(#(P,3(L
M('1H92!#;VUP86YY(')A:7-E9"`D,3`L,#DQ+#`P,"P@;F5T(&]F("0Y,#DL
M,#`P(&]F('5N9&5R=W)I=&EN9R!A;F0@:7-S=6%N8V4@8V]S=',L#0IT:')O
M=6=H(&$@<'5B;&EC(&]F9F5R:6YG(&]F('5N:71S(&-O;G-I<W1I;F<@;V8@
M86X@86=G<F5G871E(&]F(#(W+#4P,"PP,#`@<VAA<F5S(&]F(&-O;6UO;B!S
M=&]C:R!A;F0@=V%R<F%N=',@=&\@<'5R8VAA<V4@,C<L-3`P+#`P,`T*<VAA
M<F5S(&]F(&-O;6UO;B!S=&]C:R!A="!A;B!E>&5R8VES92!P<FEC92!O9B`D
M,"XU.2!P97(@<VAA<F4@=VET:"!A('1E<FT@;V8@=&AR964@>65A<G,@*"8C
M,30W.U-E<'1E;6)E<B!/9F9E<FEN9R8C,30X.RDN(%1H90T*0V]M<&%N>2!A
M8V-O=6YT960@9F]R('1H92!N970@<')O8V5E9',@;V8@=&AE(%-E<'1E;6)E
M<B!/9F9E<FEN9R!B>2!F:7)S="!A;&QO8V%T:6YG('1H92`D,2PV-3@L,#`P
M(&9A:7(@=F%L=64@;V8@=&AE('=A<G)A;G1S#0IT;R!L:6%B:6QI=&EE<R!A
M;F0@=&AE;B!A;&QO8V%T:6YG('1H92!R96UA:6YI;F<@86UO=6YT('1O(&5Q
M=6ET>2X\+V9O;G0^/"]P/@T*#0H-"@T*/'`@<W1Y;&4],T0G;6%R9VEN.B`P
M<'0[(&9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]P/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y0<FEV
M871E#0I0;&%C96UE;G0\+W4^)B,Q-C`[/"]I/B8C,34P.R!/;B!$96-E;6)E
M<B`Q,RP@,C`Q,2P@=&AE($-O;7!A;GD@<F%I<V5D("0W+#,V-"PP,#`L(&YE
M="!O9B`D-C0R+#`P,"!O9B!I<W-U86YC92!C;W-T<RP@=&AR;W5G:`T*=&AE
M(&ES<W5A;F-E(&]F(#<L-C(U+#`P,"!S:&%R97,@;V8@8V]M;6]N('-T;V-K
M(&%N9"!W87)R86YT<R!T;R!P=7)C:&%S92!A;B!A9V=R96=A=&4@;V8@-"PY
M-38L,C4P('-H87)E<R!O9B!C;VUM;VX@<W1O8VL@*"8C,30W.S(P,3$-"E=A
M<G)A;G1S)B,Q-#@[*2X@5&AE(#(P,3$@5V%R<F%N=',@87)E(&EM;65D:6%T
M96QY(&5X97)C:7-A8FQE(&%N9"!E;G1I=&QE('1H92!H;VQD97)S(&]F('1H
M92`R,#$Q(%=A<G)A;G1S('1O('!U<F-H87-E('5P('1O#0IA;B!A9V=R96=A
M=&4@;V8@-"PY-38L,C4P('-H87)E<R!O9B!T:&4@0V]M<&%N>28C,30V.W,@
M8V]M;6]N('-T;V-K('5N=&EL($1E8V5M8F5R(#$S+"`R,#$V(&%T(&%N(&5X
M97)C:7-E('!R:6-E(&]F("0Q+C4P('!E<@T*<VAA<F4@*"8C,30W.S(P,3$@
M5V%R<F%N="!%>&5R8VES92!0<FEC928C,30X.RDL('=H:6-H('!R:6-E(&ES
M('-U8FIE8W0@=&\@861J=7-T;65N="X@5&AE(#(P,3$@5V%R<F%N=',@:6YC
M;'5D92!B;W1H(&-A<V@@86YD#0IC87-H;&5S<R!E>&5R8VES92!P<F]V:7-I
M;VYS+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
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M:G5S=&5D('-O('1H870@=&AE(&%G9W)E9V%T92`R,#$Q(%=A<G)A;G0@17AE
M<F-I<V4@4')I8V4-"G-H86QL(&)E('1H92!S86UE(&EM;65D:6%T96QY(&)E
M9F]R92!A;F0@:6UM961I871E;'D@869T97(@=&AE(&%D:G5S=&UE;G0N($EN
M(&%D9&ET:6]N+"!T:&4@,C`Q,2!787)R86YT($5X97)C:7-E(%!R:6-E(&ES
M(&%L<V\-"G-U8FIE8W0@=&\@82`F(S$T-SMW96EG:'1E9"UA=F5R86=E)B,Q
M-#@[(&%N=&DM9&EL=71I;VX@861J=7-T;65N="!I9B!T:&4@0V]M<&%N>2!I
M<W-U97,@;W(@:7,@9&5E;65D('1O(&AA=F4@:7-S=65D('-E8W5R:71I97,-
M"F%T(&$@<')I8V4@;&]W97(@=&AA;B!T:&4@=&AE;B!A<'!L:6-A8FQE(#(P
M,3$@5V%R<F%N="!%>&5R8VES92!0<FEC92X\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92`R,#$Q#0I7
M87)R86YT<R!R97%U:7)E('!A>6UE;G1S('1O(&)E(&UA9&4@8GD@=&AE($-O
M;7!A;GD@9F]R(&9A:6QU<F4@=&\@9&5L:79E<B!T:&4@<VAA<F5S(&]F(&-O
M;6UO;B!S=&]C:R!I<W-U86)L92!U<&]N(&5X97)C:7-E+CPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
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M,C`Q,2!787)R86YT<R!M87D@8F4@<F%I<V5D(&]R(&QO=V5R960@=&\@86YY
M(&]T:&5R('!E<F-E;G1A9V4@;F]T(&EN(&5X8V5S<R!O9B`Y+CDY)2P@97AC
M97!T('1H870@86YY(&EN8W)E87-E('=I;&P@;VYL>2!B92!E9F9E8W1I=F4-
M"G5P;VX@-C$M9&%Y<R8C,30V.R!P<FEO<B!N;W1I8V4@=&\@=&AE($-O;7!A
M;GDN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY)9B!T:&4@0V]M<&%N>0T*:7-S=65S(&]P=&EO;G,L(&-O
M;G9E<G1I8FQE('-E8W5R:71I97,L('=A<G)A;G1S+"!S=&]C:RP@;W(@<VEM
M:6QA<B!S96-U<FET:65S('1O(&AO;&1E<G,@;V8@:71S(&-O;6UO;B!S=&]C
M:RP@96%C:"!H;VQD97(@;V8-"F$@,C`Q,2!787)R86YT(&AA<R!T:&4@<FEG
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M,C`Q,2!787)R86YT<R!U;F1E<B!A('=R:71T96X@86=R965M96YT+CPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^5&AE($-O;7!A;GD-"F%C8V]U;G1E9"!F;W(@=&AE(&YE="!P<F]C965D
M<R!O9B!T:&4@<')I=F%T92!P;&%C96UE;G0@8GD@9FER<W0@86QL;V-A=&EN
M9R!T:&4@9F%I<B!V86QU92!O9B!T:&4@,C`Q,2!W87)R86YT<R!T;R!A(&QI
M86)I;&ET>0T*86YD('1H96X@<F5C;W)D960@=&AE(')E;6%I;FEN9R!A;6]U
M;G0@=&\@97%U:71Y+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^4F5G:7-T<F%T:6]N#0I2:6=H
M=',@06=R965M96YT/"]U/B8C,38P.SPO:3XF(S$U,#L@26X@8V]N;F5C=&EO
M;B!W:71H('1H92!S86QE(&]F('1H92!S:&%R97,@;V8@8V]M;6]N('-T;V-K
M(&%N9"!T:&4@,C`Q,2!787)R86YT<RP@=&AE($-O;7!A;GD-"F5N=&5R960@
M:6YT;R!A(')E9VES=')A=&EO;B!R:6=H=',@86=R965M96YT('=I=&@@86QL
M(&]F('1H92!I;G9E<W1O<G,@=&\@9FEL92!A(')E9VES=')A=&EO;B!S=&%T
M96UE;G0@;VX@1F]R;2!3+3$@=VET:"!T:&4@4V5C=7)I=&EE<PT*86YD($5X
M8VAA;F=E($-O;6UI<W-I;VX@8GD@1&5C96UB97(@,C,L(#(P,3$@9F]R('1H
M92!R97-A;&4@8GD@=&AE('!U<F-H87-E<G,@;V8@=&AE(#<L-C(U+#`P,"!S
M:&%R97,@;V8@8V]M;6]N('-T;V-K(&%N9"!T:&4-"C0L.34V+#(U,"!S:&%R
M97,@;V8@8V]M;6]N('-T;V-K(&ES<W5A8FQE('5P;VX@97AE<F-I<V4@;V8@
M=&AE(#(P,3$@5V%R<F%N=',@:7-S=65D(&]N($1E8V5M8F5R(#$S+"`R,#$Q
M+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^4W5B:F5C="!T;PT*9W)A8V4@<&5R:6]D<RP@=&AE($-O;7!A
M;GD@:7,@<F5Q=6ER960@=&\@:V5E<"!T:&4@<F5G:7-T<F%T:6]N('-T871E
M;65N="`H86YD('1H92!P<F]S<&5C='5S(&-O;G1A:6YE9"!I;B!T:&%T(')E
M9VES=')A=&EO;B!S=&%T96UE;G0-"F%V86EL86)L92!F;W(@=7-E*2!F;W(@
M<F5S86QE(&)Y('1H92!I;G9E<W1O<G,@;VX@82!D96QA>65D(&]R(&-O;G1I
M;G5O=7,@8F%S:7,@870@=&AE;BUP<F5V86EL:6YG(&UA<FME="!P<FEC97,@
M870@86QL('1I;65S#0IU;G1I;"!T:&4@96%R;&EE<B!O9B`H:2D@=&AE(&1A
M=&4@87,@;V8@=VAI8V@@86QL(&]F('1H92!I;G9E<W1O<G,@;6%Y('-E;&P@
M86QL(&]F('1H92!S:&%R97,@;V8@8V]M;6]N('-T;V-K(')E<75I<F5D('1O
M(&)E(&-O=F5R960-"F)Y('1H92!R96=I<W1R871I;VX@<W1A=&5M96YT('=I
M=&AO=70@<F5S=')I8W1I;VX@=6YD97(@4G5L92`Q-#0@=6YD97(@=&AE(%-E
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M/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
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M;B!R:6=H=',@86=R965M96YT+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^0V]N=F5R=&EB;&4-
M"DYO=&4@5V%R<F%N=',\+W4^)B,Q-C`[/"]I/B8C,34P.R!/;B!/8W1O8F5R
M(#8L(#(P,3`L(&%S('!A<G0@;V8@=&AE($EN:71I86P@3F]T97,@:7-S=6%N
M8V4L('1H92!#;VUP86YY(&ES<W5E9"!T:&4@26YI=&EA;"`R,#$P#0I787)R
M86YT<R!W:&EC:"!W97)E(&EM;65D:6%T96QY(&5X97)C:7-A8FQE(&%N9"!E
M;G1I=&QE9"!T:&4@:&]L9&5R<R!O9B!T:&4@26YI=&EA;"`R,#$P(%=A<G)A
M;G1S('1O('!U<F-H87-E('5P('1O(&%N(&%G9W)E9V%T90T*;V8@,BPY-#$L
M,3<X('-H87)E<R!O9B!T:&4@0V]M<&%N>28C,30V.W,@8V]M;6]N('-T;V-K
M('5N=&EL($]C=&]B97(@-BP@,C`Q-R!A="!A;B!O<FEG:6YA;"!E>&5R8VES
M92!P<FEC92!O9B`D-2XY-2!P97(@<VAA<F4L#0IW:&EC:"!P<FEC92!W87,@
M<W5B:F5C="!T;R!A9&IU<W1M96YT+B!4:&4@26YI=&EA;"`R,#$P(%=A<G)A
M;G1S('=E<F4@<W5B<V5Q=65N=&QY(&5X8VAA;F=E9"!F;W(@=&AE(#(P,3`@
M5V%R<F%N=',@:&%V:6YG('-U8G-T86YT:6%L;'D-"G1H92!S86UE('1E<FUS
M+B!4:&4@,C`Q,"!787)R86YT<R!I;F-L=61E(&)O=&@@8V%S:"!A;F0@8V%S
M:&QE<W,@97AE<F-I<V4@<')O=FES:6]N<RX@57!O;B!T:&4@0V]M<&%N>28C
M,30V.W,@8V]N<W5M;6%T:6]N(&]F#0IT:&4@<')I=F%T92!P;&%C96UE;G0@
M;VX@1&5C96UB97(@,3,L(#(P,3$L('1H92!O<FEG:6YA;"!E>&5R8VES92!P
M<FEC92!O9B!T:&4@,C`Q,"!787)R86YT<R!W87,@<F5D=6-E9"!T;R`D,"XT
M-2!P97(@<VAA<F4@*"8C,30W.S(P,3`-"E=A<G)A;G0@17AE<F-I<V4@4')I
M8V4F(S$T.#LI+"!W:&EC:"!I<R!A;'-O('-U8FIE8W0@=&\@861J=7-T;65N
M="X\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/E1H92`R,#$P#0I787)R86YT($5X97)C:7-E(%!R:6-E(&ES
M('-U8FIE8W0@=&\@861J=7-T;65N="!F;W(@<W1O8VL@<W!L:71S+"!C;VUB
M:6YA=&EO;G,@;W(@<VEM:6QA<B!E=F5N=',L(&%N9"P@:6X@<W5C:"!E=F5N
M="P@=&AE(&YU;6)E<@T*;V8@<VAA<F5S(&ES<W5A8FQE('5P;VX@=&AE(&5X
M97)C:7-E(&]F('1H92`R,#$P(%=A<G)A;G1S('=I;&P@86QS;R!B92!A9&IU
M<W1E9"!S;R!T:&%T('1H92!A9V=R96=A=&4@,C`Q,"!787)R86YT($5X97)C
M:7-E(%!R:6-E#0IS:&%L;"!B92!T:&4@<V%M92!I;6UE9&EA=&5L>2!B969O
M<F4@86YD(&EM;65D:6%T96QY(&%F=&5R('1H92!A9&IU<W1M96YT+B!);B!A
M9&1I=&EO;BP@=&AE(#(P,3`@5V%R<F%N="!%>&5R8VES92!0<FEC92!I<R!A
M;'-O#0IS=6)J96-T('1O(&$@)B,Q-#<[9G5L;"!R871C:&5T)B,Q-#@[(&%N
M=&DM9&EL=71I;VX@861J=7-T;65N="!W:&5R92!I9B!T:&4@0V]M<&%N>2!I
M<W-U97,@;W(@:7,@9&5E;65D('1O(&AA=F4@:7-S=65D('-E8W5R:71I97,-
M"F%T(&$@<')I8V4@;&]W97(@=&AA;B!T:&4@=&AE;B!A<'!L:6-A8FQE(#(P
M,3`@5V%R<F%N="!%>&5R8VES92!0<FEC92P@=&AE(#(P,3`@5V%R<F%N="!%
M>&5R8VES92!0<FEC92!W:6QL(&EM;65D:6%T96QY(&1E8VQI;F4-"G1O(&5Q
M=6%L('1H92!P<FEC92!A="!W:&EC:"!T:&4@0V]M<&%N>2!I<W-U97,@;W(@
M:7,@9&5E;65D('1O(&AA=F4@:7-S=65D(&ET<R!C;VUM;VX@<W1O8VLN/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY)9B!T:&4@0V]M<&%N>0T*<V5L;',@;W(@:7-S=65S(&%N>2!S96-U
M<FET:65S('=I=&@@)B,Q-#<[9FQO871I;F<F(S$T.#L@8V]N=F5R<VEO;B!P
M<FEC97,@8F%S960@;VX@=&AE(&UA<FME="!P<FEC92!O9B!I=',@8V]M;6]N
M('-T;V-K+"!A#0IH;VQD97(@;V8@82`R,#$P(%=A<G)A;G0@:&%S('1H92!R
M:6=H="!T;R!S=6)S=&ET=71E('1H92`F(S$T-SMF;&]A=&EN9R8C,30X.R!C
M;VYV97)S:6]N('!R:6-E(&9O<B!T:&4@,C`Q,"!787)R86YT($5X97)C:7-E
M#0I0<FEC92!U<&]N(&5X97)C:7-E(&]F(&%L;"!O<B!P87)T('1H92`R,#$P
M(%=A<G)A;G0N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY4:&4@,C`Q,`T*5V%R<F%N=',@<F5Q=6ER92!P
M87EM96YT<R!T;R!B92!M861E(&)Y('1H92!#;VUP86YY(&9O<B!F86EL=7)E
M('1O(&1E;&EV97(@=&AE('-H87)E<R!O9B!C;VUM;VX@<W1O8VL@:7-S=6%B
M;&4@=7!O;B!E>&5R8VES92X\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92`R,#$P#0I787)R86YT<R!M
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M=&AE(&5X97)C:7-E(&]F('1H92`R,#$P(%=A<G)A;G1S(&UA>2!B92!R86ES
M960@;W(@;&]W97)E9"P@<W5B:F5C=`T*=&\@86X@861V86YC92!N;W1I8V4@
M<&5R:6]D+"!T;R!A;GD@;W1H97(@<&5R8V5N=&%G92!N;W0@:6X@97AC97-S
M(&]F(#DN.3DE+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^268@=&AE($-O;7!A;GD-"FES<W5E<R!O<'1I
M;VYS+"!C;VYV97)T:6)L92!S96-U<FET:65S+"!W87)R86YT<RP@<W1O8VLL
M(&]R('-I;6EL87(@<V5C=7)I=&EE<R!T;R!H;VQD97)S(&]F(&ET<R!C;VUM
M;VX@<W1O8VLL(&5A8V@@:&]L9&5R(&]F#0IA(#(P,3`@5V%R<F%N="!H87,@
M=&AE(')I9VAT('1O(&%C<75I<F4@=&AE('-A;64@87,@:68@=&AE(&AO;&1E
M<B!H860@97AE<F-I<V5D(&ET<R`R,#$P(%=A<G)A;G0N(%1H92`R,#$P(%=A
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M,C`Q,"!787)R86YT<R!U;F1E<B!A('=R:71T96X@86=R965M96YT(&%P<')O
M=F5D(&)Y#0IA;&P@;V8@=&AE(&AO;&1E<G,@;V8@=&AE(#(P,3`@5V%R<F%N
M=',@8F5F;W)E('1H92!T<F%N<V%C=&EO;B!I<R!C;VUP;&5T960N(%=H96X@
M=&AE<F4@:7,@82!T<F%N<V%C=&EO;B!I;G9O;'9I;F<@82!P97)M:71T960-
M"F-H86YG92!O9B!C;VYT<F]L+"!A(&AO;&1E<B!O9B!A(#(P,3`@5V%R<F%N
M="!W:6QL(&AA=F4@=&AE(')I9VAT('1O(&9O<F-E('1H92!#;VUP86YY('1O
M(')E<'5R8VAA<V4@=&AE(&AO;&1E<B8C,30V.W,@,C`Q,"!787)R86YT<PT*
M9F]R(&$@<'5R8VAA<V4@<')I8V4@:6X@8V%S:"!E<75A;"!T;R!T:&4@0FQA
M8VL@4V-H;VQE<R!V86QU92!O9B!T:&4@=&AE;B!U;F5X97)C:7-E9"!P;W)T
M:6]N(&]F('1H92`R,#$P(%=A<G)A;G1S+CPO9F]N=#X\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^268@870@86YY#0IT
M:6UE(&%F=&5R('1H92!D871E('1H92!#;VUP86YY(&AA<R!I;FET:6%L;'D@
M<V%T:7-F:65D(&-E<G1A:6X@<W!E8VEF:65D(&-O;F1I=&EO;G,L(&%N9"`H
M:2DF(S$V,#MI=',@8V]M;6]N('-T;V-K('1R861E<R!A=`T*82!P<FEC92!E
M<75A;"!T;R!O<B!G<F5A=&5R('1H86X@)#$T+C@T('!E<B!S:&%R92!F;W(@
M,C`@=')A9&EN9R!D87ES(&EN(&%N>2`S,"!C;VYS96-U=&EV92!T<F%D:6YG
M(&1A>2!P97)I;V0@*"8C,30W.TUA;F1A=&]R>0T*17AE<F-I<V4@365A<W5R
M:6YG(%!E<FEO9"8C,30X.RDL("AI:2DF(S$V,#MT:&4@879E<F%G92!D86EL
M>2!D;VQL87(@=')A9&EN9R!V;VQU;64@;V8@=&AE($-O;7!A;GDF(S$T-CMS
M(&-O;6UO;B!S=&]C:R!F;W(@96%C:`T*=')A9&EN9R!D87D@9'5R:6YG('1H
M92!-86YD871O<GD@17AE<F-I<V4@365A<W5R:6YG(%!E<FEO9#QB/B8C,38P
M.SPO8CYE>&-E961S("0R-3`L,#`P('!E<B!D87DL(&%N9"`H:6EI*28C,38P
M.V%L;"!S=6-H(&-O;F1I=&EO;G,-"F%R92!T:&5N('-A=&ES9FEE9"P@=&AE
M($-O;7!A;GD@=VEL;"!H879E('1H92!R:6=H="!T;R!R97%U:7)E('1H92!H
M;VQD97)S(&]F('1H92`R,#$P(%=A<G)A;G1S('1O(&9U;&QY(&5X97)C:7-E
M(&%L;"P@8G5T(&YO=`T*;&5S<R!T:&%N(&%L;"P@;V8@=&AE(#(P,3`@5V%R
M<F%N=',@*'-U8FIE8W0@=&\@=&AE(&)L;V-K97(I+CPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J
M=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^26X@1F5B
M<G5A<GD-"C(P,3(L(&-E<G1A:6X@:&]L9&5R<R!O9B!T:&4@,C`Q,"!787)R
M86YT<R!E>&5R8VES960@=&AE:7(@,C`Q,"!787)R86YT<R!W:71H(')E<W!E
M8W0@=&\@,C4R+#$P,2!S:&%R97,@;V8@8V]M;6]N('-T;V-K(&]N(&$@8V%S
M:&QE<W,-"F5X97)C:7-E(&)A<VES+"!R97-U;'1I;F<@:6X@,3<R+#(V.2!N
M970@<VAA<F5S(&]F(&-O;6UO;B!S=&]C:R!I<W-U960@8GD@=&AE($-O;7!A
M;GDN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SX\:3X\=3Y!8V-O=6YT:6YG#0IF;W(@,C`Q,2!A;F0@,C`Q
M,"!787)R86YT<SPO=3XF(S$V,#L\+VD^)B,Q-3`[(%1H92!#;VUP86YY(&AA
M<R!D971E<FUI;F5D('1H870@8F]T:"!T:&4@,C`Q,2!787)R86YT<R!A;F0@
M=&AE(#(P,3`@5V%R<F%N=',@9&ED#0IN;W0@;65E="!T:&4@8V]N9&ET:6]N
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M(&%D:G5S=&UE;G1S(&]F("0T+#0U,2PP,#`@86YD("0Q+#<R-RPP,#`@9F]R
M('1H92!Y96%R<R!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"P@
M<F5S<&5C=&EV96QY+`T*=VAI8V@@:7,@;&%R9V5L>2!A='1R:6)U=&5D('1O
M('=A<G)A;G0@=&5R;2!S:&]R=&5N:6YG(&%N9"!R961U8W1I;VX@:6X@=&AE
M(&UA<FME="!V86QU92!O9B!T:&4@0V]M<&%N>28C,30V.W,@8V]M;6]N('-T
M;V-K+@T*4V5E($YO=&4@,3,@9F]R('1H92!#;VUP86YY)B,Q-#8[<R!F86ER
M('9A;'5E(&%S<W5M<'1I;VYS+B!!<R!N;W1E9"!A8F]V92P@=&AE(&5X97)C
M:7-E('!R:6-E(&]F('1H92`R,#$P(%=A<G)A;G1S(&1E8VQI;F5D('1O#0HD
M,"XT-2!A<R!A(')E<W5L="!O9B!A;G1I+61I;'5T:6]N(&%D:G5S=&UE;G1S
M(&1U92!T;R!T:&4@0V]M<&%N>28C,30V.W,@1&5C96UB97(@,C`Q,2!E<75I
M='D@9FEN86YC:6YG+B!!="!T:&%T('1I;64L('1H92!#;VUP86YY#0IR96-O
M<F1E9"!A;B!A9V=R96=A=&4@)#$L,3`P+#`P,"!E>'!E;G-E('1O(&9A:7(@
M=F%L=64@861J=7-T;65N=',@;VX@8V]N=F5R=&EB;&4@9&5B="!A;F0@=V%R
M<F%N=',@:6X@:71S(&-O;G-O;&ED871E9"!S=&%T96UE;G1S#0IO9B!O<&5R
M871I;VYS+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^/&D^/'4^3W1H97(-"E=A<G)A;G0@27-S=6%N8V5S
M/"]U/B8C,38P.SPO:3XF(S$U,#L@26X@36%R8V@@,C`P."P@=&AE($-O;7!A
M;GD@:7-S=65D('=A<G)A;G1S('1O('!U<F-H87-E(&%N(&%G9W)E9V%T92!O
M9B`T,SDL-38Q('-H87)E<R!O9@T*8V]M;6]N('-T;V-K(&%T(&%N(&5X97)C
M:7-E('!R:6-E(&]F("0T.2XP,"!P97(@<VAA<F4L('=H:6-H(&5X<&ER92!I
M;B`R,#$X+B!);B!-87D@,C`P."P@=&AE($-O;7!A;GD@:7-S=65D('=A<G)A
M;G1S('1O('!U<F-H87-E#0IA;B!A9V=R96=A=&4@;V8@-C,L,3@Y('-H87)E
M<R!O9B!C;VUM;VX@<W1O8VL@870@86X@97AE<F-I<V4@<')I8V4@;V8@)#0Y
M+C`P('!E<B!S:&%R92P@=VAI8V@@97AP:7)E(&EN(#(P,3@N/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY)
M;B!-87D@,C`P."P-"G1H92!#;VUP86YY(&ES<W5E9"!W87)R86YT<R!T;R!P
M=7)C:&%S92!A;B!A9V=R96=A=&4@;V8@-#(X+#4W,R!S:&%R97,@;V8@8V]M
M;6]N('-T;V-K(&%T(&%N(&5X97)C:7-E('!R:6-E(&]F("0T.2XW,"!P97(@
M<VAA<F4L#0IW:&EC:"!E>'!I<F4@:6X@,C`Q,RX\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/E=A
M<G)A;G0-"E-U;6UA<GD\+W4^)B,Q-C`[/"]I/B8C,34P.R!4:&4@9F]L;&]W
M:6YG('1A8FQE('-U;6UA<FEZ97,@=V%R<F%N="!A8W1I=FET>2!F;W(@=&AE
M('EE87)S(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q(&%N9"`R,#$P("AN=6UB
M97(-"F]F('-H87)E<R!I;B!T:&]U<V%N9',I.CPO9F]N=#X\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\+W`^#0H-"CQT86)L92!C96QL<&%D9&EN9STS1#`@8V5L;'-P86-I
M;F<],T0P(&%L:6=N/3-$8V5N=&5R('-T>6QE/3-$)V)O<F1E<BUC;VQL87!S
M93H@8V]L;&%P<V4[('=I9'1H.B`Q,#`E.R!F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@8V5N=&5R.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C96YT
M97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#,@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E
M<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DYU;6)E<B!O9B`\
M8G(@+SY3:&%R97,\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@8V]L<W!A;CTS1#,@<W1Y;&4],T0G;6%R9VEN+71O<#H@,#L@=&5X="UA
M;&EG;CH@8V5N=&5R.R!M87)G:6XM8F]T=&]M.B`P.R!B;W)D97(M8F]T=&]M
M.B!";&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/E!R:6-E#0H@("`@<&5R(#QB<B`O/E-H87)E/"]F;VYT/CPO=&0^
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA;&EG
M;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0S('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ($)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N
M.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY796EG
M:'1E9"`\8G(@+SY!=F5R86=E#0H@("`@/&)R("\^17AE<F-I<V4@4')I8V4\
M+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-#DE.R!T97AT+6%L:6=N.B!L
M969T.R!T97AT+6EN9&5N=#H@,'!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^0F%L86YC92!A="!$96-E;6)E<B`S,2P@,C`P.3PO9F]N=#X\
M+W1D/CQT9"!S='EL93TS1"=W:61T:#H@,B4G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('-T
M>6QE/3-$)W=I9'1H.B`Q,R4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^.3,Q/"]F;VYT/CPO=&0^/'1D('-T
M>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S
M='EL93TS1"=W:61T:#H@,B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=W:61T:#H@
M,3,E.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXT.2XP,`T*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`F(S@R,3$[(#0Y+C<P/"]F;VYT/CPO
M=&0^/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/CQT9"!S='EL93TS1"=W:61T:#H@,B4G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/CQT9"!S='EL93TS
M1"=W:61T:#H@,3,E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/C0Y+C,R/"]F;VYT/CPO=&0^/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T.R!P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6EN9&5N=#H@,'!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5V%R<F%N=',@:7-S
M=65D/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR+#DT
M,3PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T
M.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/CQT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M
M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C`N-#4\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C`N-#4\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0[('1E>'0M:6YD96YT.B`P<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY"86QA;F-E(&%T($1E8V5M8F5R(#,Q+"`R,#$P
M/"]F;VYT/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,L.#<R/"]F;VYT
M/CPO=&0^/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/CQT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXP+C0U("8C.#(Q,3L@-#DN-S`\+V9O;G0^/"]T9#X\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,3(N,C`\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!T97AT+6EN9&5N=#H@,'!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5V%R<F%N=',@:7-S
M=65D/"]F;VYT/CPO=&0^/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C0L.34V/"]F
M;VYT/CPO=&0^/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\
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M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$N-3`\
M+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@
M8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M.B`Q
M<'0[('1E>'0M:6YD96YT.B`P<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY787)R86YT<R!E>&5R8VES960\+V9O;G0^/"]T9#X\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B@R+#0S-SPO9F]N=#X\+W1D/CQT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CQT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXP+C0U/"]F;VYT/CPO=&0^/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXD/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXP+C0U/"]F;VYT/CPO=&0^/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T
M;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T
M97AT+6EN9&5N=#H@,'!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^0F%L86YC92!A="!$96-E;6)E<B8C,38P.S,Q+`T*("`@(#(P,3$\+V9O
M;G0^/"]T9#X\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N
M-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-BPS
M.3$\+V9O;G0^/"]T9#X\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N
M-7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO
M=&0^/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O
M=6)L93L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^,"XT-0T*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`F(S@R,3$[(#0Y+C<P/"]F;VYT/CPO=&0^/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)#PO9F]N=#X\+W1D/CQT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!"
M;&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^."XS.3PO9F]N=#X\+W1D/CQT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"@T*/'`@<W1Y;&4],T0G;6%R9VEN
M.B`P<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO<#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM
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M<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U
M:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S
M970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,]
M,T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S
M8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R
M97!O<G0@:60],T1)1#!%4D<^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C
M;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^-RX@
M0T]-34E4345.5%,@04Y$($-/3E1)3D=%3D-)15,\8G(^/"]S=')O;F<^/"]T
M:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^.2!-;VYT
M:',@16YD960\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N
M/3-$,3XQ,B!-;VYT:',@16YD960\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB
M<CX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$Q
M/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG
M/D-O;6UI=&UE;G1S($%N9"!#;VYT:6YG96YC:65S/"]S=')O;F<^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/C<N($-/34U)5$U%3E13($%.
M1"!#3TY424Y'14Y#2453/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<"!S='EL93TS1"=M87)G:6XZ(#!P=#L@9F]N=#H@.'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX\+W`^#0H-"CQT86)L92!C96QL<&%D
M9&EN9STS1#`@8V5L;'-P86-I;F<],T0P('-T>6QE/3-$)V9O;G0Z(#AP="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN+71O<#H@,'!T
M.R!M87)G:6XM8F]T=&]M.B`P<'0[('=I9'1H.B`Q,#`E)SX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@=&]P.R!F;VYT.B`X<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*("`@(#QT9"!S='EL93TS1"=F;VYT
M.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/B8C,38P.SPO
M=&0^/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=F;VYT.B`X<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,"`P(#`@,"XR
M-6EN.R!T97AT+6EN9&5N=#H@+3`N,C5I;B<^)B,Q-C`[/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&D^/'4^4'5R
M8VAA<V4@0V]M;6ET;65N=',\+W4^/"]I/B`F(S$U,#L-"D%T(%-E<'1E;6)E
M<B`S,"P@,C`Q,BP@=&AE($-O;7!A;GD@:&%D(&9I>&5D+7!R:6-E('!U<F-H
M87-E(&-O;G1R86-T<R!W:71H(&ET<R!S=7!P;&EE<G,@=&\@<'5R8VAA<V4@
M)#$T+#$U,RPP,#`@;V8@971H86YO;"!A;F0-"FEN9&5X960M<')I8V4@8V]N
M=')A8W1S('1O('!U<F-H87-E(#$Q,BPP,#`@9V%L;&]N<R!O9B!E=&AA;F]L
M+B!4:&5S92!C;VYT<F%C=',@=VEL;"!B92!S871I<V9I960@=&AR;W5G:&]U
M="!T:&4@<F5M86EN9&5R(&]F(#(P,3(N)B,Q-C`[/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M:3X\=3Y386QE<R!#;VUM:71M96YT<SPO=3X\+VD^("8C,34P.R!!=`T*4V5P
M=&5M8F5R(#,P+"`R,#$R+"!T:&4@0V]M<&%N>2!H860@96YT97)E9"!I;G1O
M('-A;&5S(&-O;G1R86-T<R!W:71H(&ET<R!M86IO<B!C=7-T;VUE<G,@=&\@
M<V5L;"!C97)T86EN('%U86YT:71I97,@;V8@971H86YO;`T*86YD(%=$1RX@
M5&AE('9O;'5M97,@:6YD:6-A=&5D(&EN('1H92!I;F1E>&5D+7!R:6-E(&-O
M;G1R86-T<R!T86)L92!W:6QL(&)E('-O;&0@870@<'5B;&EC;'DM:6YD97AE
M9"!S86QE<R!P<FEC97,@9&5T97)M:6YE9"!B>0T*;6%R:V5T('!R:6-E<R!I
M;B!E9F9E8W0@;VX@=&AE:7(@<F5S<&5C=&EV92!T<F%N<V%C=&EO;B!D871E
M<R`H:6X@=&AO=7-A;F1S*3H\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#AP
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SXF(S$V,#L\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=B
M86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*
M/'1A8FQE(&-E;&QP861D:6YG/3-$,"!C96QL<W!A8VEN9STS1#`@<W1Y;&4]
M,T0G8F]R9&5R+6-O;&QA<'-E.B!C;VQL87!S93L@=VED=&@Z(#$P,"4[(&9O
M;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@9F]N=#H@.'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@8V5N=&5R.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0Z(#AP="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@8V]L
M<W!A;CTS1#(@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M
M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[(&9O;G0Z(#AP="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^1FEX960M4')I8V4@0V]N=')A8W1S/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@9F]N
M=#H@.'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SXF(S$V,#L\
M+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O
M;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*3L@9F]N=#H@
M.'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#@P)3L@9F]N=#H@.'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SY%=&AA;F]L/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#,E.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q)3L@=&5X="UA;&EG;CH@;&5F=#L@9F]N=#H@.'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$U)3L@=&5X="UA;&EG;CH@<FEG:'0[(&9O;G0Z(#AP="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^-S`\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#AP
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^)B,Q-C`[/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z(%=H:71E.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,7!T.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/E=$1SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0[(&9O;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!F;VYT.B`X<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K
M(#%P="!S;VQI9#L@9F]N=#H@.'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!T97AT+6%L:6=N.B!R:6=H="<^-3(Q/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F
M=#L@9F]N=#H@.'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SXF
M(S$V,#L\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*3L@
M9F]N=#H@.'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6EN
M9&5N=#H@,3,N-W!T.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/E1O=&%L/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#(N-7!T.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@9F]N=#H@.'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!T97AT+6%L:6=N.B!L969T
M)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,BXU<'0@9&]U8FQE.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[('1E>'0M86QI9VXZ(')I9VAT)SXU.3$\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI
M9VXZ(&QE9G0[(&9O;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^)B,Q-C`[/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$
M)V9O;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\:3XF(S$V,#L\+VD^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&D^)B,Q-C`[/"]I/CPO<#X-"@T*/'1A8FQE(&-E;&QP861D:6YG/3-$
M,"!C96QL<W!A8VEN9STS1#`@<W1Y;&4],T0G8F]R9&5R+6-O;&QA<'-E.B!C
M;VQL87!S93L@=VED=&@Z(#$P,"4[(&9O;G0Z(#AP="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@9F]N=#H@.'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R
M.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0[(&9O;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M)B,Q-C`[/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L
M:60[(&9O;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M26YD97AE9"U0<FEC92!#;VYT<F%C=',@/&)R("\^*%9O;'5M92D\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT.B`X
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/B8C,38P.SPO=&0^
M/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B
M86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I.R!F;VYT.B`X<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@.#`E.R!T97AT+6%L:6=N.B!L969T.R!P861D:6YG+6QE
M9G0Z(#0N,W!T.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68G/D5T:&%N;VP@*&=A;&QO;G,I/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#,E.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q)3L@=&5X="UA;&EG;CH@;&5F=#L@9F]N=#H@.'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,34E.R!T97AT+6%L:6=N.B!R:6=H=#L@9F]N=#H@.'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SXY-RPW,#@\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0[
M(&9O;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^)B,Q
M-C`[/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E.R!F;VYT.B`X<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T.R!P861D:6YG+6QE9G0Z(#0N,W!T.R!F;VYT
M.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/E=$1R`H=&]N
M<RD\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT.B`X<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#AP="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0[(&9O;G0Z(#AP="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^-34\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T.R!F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/B8C,38P.SPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\
M<"!S='EL93TS1"=F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^)B,Q-C`[
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`X<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`X<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&D^/'4^3&ET:6=A=&EO;B`F(S$U,#L@1V5N97)A;#PO
M=3X@)B,Q-3`[/"]I/@T*5&AE($-O;7!A;GD@:7,@<W5B:F5C="!T;R!V87)I
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M)B,Q-#8[<R!O<&5R871I;F<@<F5S=6QT<RX\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#AP="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SXF(S$V,#L\+W`^#0H-"@T*
M#0H\<"!S='EL93TS1"=M87)G:6XZ(#!P=#L@9F]N=#H@.'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SXF(S$V,#L\+W`^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/D-O;6UI=&UE;G1S#0H\+W4^/"]I
M/B8C,34P.R!4:&4@9F]L;&]W:6YG(&ES(&$@9&5S8W)I<'1I;VX@;V8@<VEG
M;FEF:6-A;G0@8V]M;6ET;65N=',@870@1&5C96UB97(@,S$L(#(P,3$Z/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SX\:3Y/<&5R871I;F<-"DQE87-E<R`F(S$U,#L@/"]I/D9U='5R92!M
M:6YI;75M(&QE87-E('!A>6UE;G1S(')E<75I<F5D(&)Y(&YO;BUC86YC96QA
M8FQE(&]P97)A=&EN9R!L96%S97,@:6X@969F96-T(&%T($1E8V5M8F5R(#,Q
M+"`R,#$Q(&%R90T*87,@9F]L;&]W<R`H:6X@=&AO=7-A;F1S*3H\+V9O;G0^
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J
M=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D
M9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@=VED=&@Z(#$P,"4G/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^665A<G,-"B`@("`@("`@16YD960\+V9O;G0^/"]P
M/@T*("`@("`@("`\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY$96-E
M;6)E<@T*("`@("`@("`S,2P\+V9O;G0^/"]P/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA;&EG;CH@8V5N
M=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!C96YT
M97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!;6]U;G0\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`V-R4[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C(P,3(\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`R)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(W)3L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#0W
M-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4]
M,T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C(P,3,\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,2PQ.38\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[
M(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,C`Q-#PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXW,S4\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M('=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`Q-3PO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXW-#<\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,C`Q-CPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXW,#$\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U
M;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SY4:&5R96%F=&5R/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA
M;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,L
M.#(P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T
M>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L
M;W(Z('=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#-P=#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^5&]T86P\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#-P=#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N
M,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^."PV-S,\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&]T86P@<F5N=`T*97AP96YS92!D
M=7)I;F<@=&AE('EE87)S(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q(&%N9"`R
M,#$P('=A<R`D,BPS,#`L,#`P(&%N9"`D,2PU.3@L,#`P+"!R97-P96-T:79E
M;'DN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SX\:3Y386QE<PT*0V]M;6ET;65N=',\+VD^("8C,34P.R!!
M="!$96-E;6)E<B`S,2P@,C`Q,2P@=&AE($-O;7!A;GD@:&%D(&5N=&5R960@
M:6YT;R!S86QE<R!C;VYT<F%C=',@=VET:"!I=',@;6%J;W(@8W5S=&]M97)S
M('1O('-E;&P@8V5R=&%I;@T*<75A;G1I=&EE<R!O9B!E=&AA;F]L+"!71$<@
M86YD('-Y<G5P+B!4:&5S92!S86QE<R!C;VYT<F%C=',@=VEL;"!B92!C;VUP
M;&5T960@=&AR;W5G:&]U="`R,#$R+B!4:&4@=F]L=6UE<R!I;F1I8V%T960@
M:6X@=&AE(&EN9&5X960-"G!R:6-E(&-O;G1R86-T<R!T86)L92!W:6QL(&)E
M('-O;&0@870@<'5B;&EC;'DM:6YD97AE9"!S86QE<R!P<FEC97,@9&5T97)M
M:6YE9"!B>2!M87)K970@<')I8V5S(&EN(&5F9F5C="!O;B!T:&5I<B!R97-P
M96-T:79E#0IT<F%N<V%C=&EO;B!D871E<R`H:6X@=&AO=7-A;F1S*3H\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QS<&%C:6YG/3-$,"!C96QL
M<&%D9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@=VED=&@Z(#$P,"4G/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[('1E
M>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X
M="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^1FEX960M4')I8V4@0V]N=')A8W1S/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#8W)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/D5T:&%N;VP\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(W)3L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR+#8P.3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z
M(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@
M8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!T97AT+6EN9&5N=#H@
M+3%I;B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E=$1R!A;F0@
M<WER=7`\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^,2PV-C(\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,W!T.R!T97AT+6EN9&5N=#H@,"XR-6EN
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&]T86P\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P=#L@
M=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^-"PR-S$\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T
M86)L93X-"CQT86)L92!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[('=I9'1H.B`Q,#`E)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA
M;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C
M96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/DEN9&5X960M4')I8V4-"B`@("`@("`@0V]N=')A
M8W1S/"]F;VYT/CPO<#X-"B`@("`@("`@/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^*%9O;'5M92D\+V9O;G0^/"]P/CPO=&0^#0H@("`@/'1D(&YO
M=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T
M;VTG/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-C<E)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^171H86YO;"`H9V%L;&]N<RD\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,C<E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/C$Q,RPU-S4\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C
M:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SY71$<@86YD('-Y<G5P("AT;VYS*3PO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXQ,#@\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^4'5R8VAA<V4-"D-O;6UI=&UE
M;G1S/"]I/B`F(S$U,#L@070@1&5C96UB97(@,S$L(#(P,3$L('1H92!#;VUP
M86YY(&AA9"!F:7AE9"UP<FEC92!P=7)C:&%S92!C;VYT<F%C=',@=VET:"!I
M=',@<W5P<&QI97)S('1O('!U<F-H87-E("0Q-RPS,CDL,#`P#0IO9B!E=&AA
M;F]L(&%N9"!I;F1E>&5D+7!R:6-E('!U<F-H87-E(&-O;G1R86-T<R!W:71H
M(&ET<R!S=7!P;&EE<G,@=&\@<'5R8VAA<V4@.2PQ,S@L,#`P(&=A;&QO;G,@
M;V8@971H86YO;"X@5&AE<V4@<'5R8VAA<V4@8V]M;6ET;65N=',-"G=I;&P@
M8F4@<V%T:7-F:65D('1H<F]U9VAO=70@,C`Q,BXF(S$V,#L\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI
M/CQU/D-O;G1I;F=E;F-I97,-"CPO=3X\+VD^)B,Q-3`[(%1H92!F;VQL;W=I
M;F<@:7,@82!D97-C<FEP=&EO;B!O9B!S:6=N:69I8V%N="!C;VYT:6YG96YC
M:65S(&%T($1E8V5M8F5R(#,Q+"`R,#$Q.CPO9F]N=#X\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^3&ET:6=A=&EO
M;@T*)B,Q-3`[($=E;F5R86P@)B,Q-3`[/"]I/B!4:&4@0V]M<&%N>2!I<R!S
M=6)J96-T('1O('9A<FEO=7,@8VQA:6US(&%N9"!C;VYT:6YG96YC:65S(&EN
M('1H92!O<F1I;F%R>2!C;W5R<V4@;V8@:71S(&)U<VEN97-S+`T*:6YC;'5D
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M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^/&D^3&ET:6=A=&EO;@T*)B,Q-3`[($)A<G)Y(%-P:65G96P\+VD^("8C
M,34P.R!);B`R,#`U+"!"87)R>2!*+B!3<&EE9V5L+"!A(&9O<FUE<B!S:&%R
M96AO;&1E<B!A;F0@9&ER96-T;W(@;V8@06-C97-S:71Y($-O<G`N+"!F:6QE
M9"!A(&-O;7!L86EN=`T*:6X@=&AE($-I<F-U:70@0V]U<G0@;V8@=&AE(#$W
M=&@@2G5D:6-I86P@1&ES=')I8W0@:6X@86YD(&9O<B!"<F]W87)D($-O=6YT
M>2P@1FQO<FED82`H0V%S92!.;RX@,#4P,3@U,3(L('1H92`F(S$T-SM3=&%T
M92!#;W5R=`T*06-T:6]N)B,Q-#@[*2P@86=A:6YS="!"87)R>2!3:65G96PL
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M;VPN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY);B`R,#`V+`T*37(N(%-P:65G96P@9FEL960@82!C;VUP
M;&%I;G0@:6X@=&AE(%5N:71E9"!3=&%T97,@1&ES=')I8W0@0V]U<G0@9F]R
M('1H92!3;W5T:&5R;B!$:7-T<FEC="!O9B!&;&]R:61A("A#87-E($YO+B`P
M-BTV,3@T."P@=&AE#0HF(S$T-SM&961E<F%L($-O=7)T($%C=&EO;B8C,30X
M.RDL(&%G86EN<W0@=&AE(&9O<F5G;VEN9R!I;F1I=FED=6%L(&1E9F5N9&%N
M=',@86YD(%!A8VEF:6,@171H86YO;"X\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!3=&%T90T*86YD
M($9E9&5R86P@0V]U<G0@06-T:6]N<R!A;&QE9V5D(&YU;65R;W5S(&-L86EM
M<R!A;F0@<F5L871E9"!T;R!A('-H87)E(&5X8VAA;F=E('1R86YS86-T:6]N
M(&-O;7!L971E9"!I;B`R,#`U(&%M;VYG($%C8V5S<VET>0T*86YD('1H92!O
M=VYE<G,@;V8@96%C:"!O9B!+:6YE<F=Y+"!2945N97)G>2P@3$Q#(&%N9"!0
M14D@0V%L:69O<FYI82X@5&AE(%-T871E($-O=7)T($%C=&EO;B!S;W5G:'0@
M87!P<F]X:6UA=&5L>2`D,C(N,"!M:6QL:6]N#0II;B!D86UA9V5S+B!4:&4@
M1F5D97)A;"!#;W5R="!!8W1I;VX@<V]U9VAT(&%P<')O>&EM871E;'D@)#$U
M+C`@;6EL;&EO;B!I;B!D86UA9V5S+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^069T97(@9&ES8V]V97)Y
M+`T*=F%R:6]U<R!M;W1I;VYS(&%N9"!O=&AE<B!P<F4M=')I86P@<')O8V5E
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M(&%G<F5E;65N="!B96-A;64@969F96-T:79E(&]N($YO=F5M8F5R(#(Q+"`R
M,#$Q+"!W:&5R975P;VX@=&AE(%-T871E($-O=7)T($%C=&EO;B!A;F0@=&AE
M($9E9&5R86P@0V]U<G0@06-T:6]N('=E<F4-"F1I<VUI<W-E9"!W:71H('!R
M96IU9&EC92X\+V9O;G0^/"]P/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM
M+2TM+3U?3F5X=%!A<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D
M.3AC.30Q#0I#;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C
M7S-E,F1?-&,U.5\Y.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T
M,30N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R
M:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S
M+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE
M<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA
M<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R
M8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\
M+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS
M1')E<&]R="!I9#TS1$E$,$521SX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H
M(&-L87-S/3-$=&P@8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SXX
M+B!&04E2(%9!3%5%($U%05-54D5-14Y44SQB<CX\+W-T<F]N9SX\+W1H/@T*
M("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,3XY($UO;G1H<R!%
M;F1E9#PO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q
M/C$R($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y397`N(#,P+"`R,#$R/&)R/CPO
M=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^
M/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^1F%I
M<B!686QU92!-96%S=7)E;65N=',\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^."X@1D%)4B!604Q512!-14%355)%345.5%,N
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=M
M87)G:6XZ(#!P="<^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`@,"`P(#`N
M,C5I;CL@=&5X="UI;F1E;G0Z("TP+C(U:6XG/B8C,38P.SPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN+71O<#H@,#L@;6%R9VEN+7)I9VAT.B`P.R!M87)G:6XM
M8F]T=&]M.B`P)SY4:&4@9F%I<B!V86QU92!H:65R87)C:'D-"G!R:6]R:71I
M>F5S('1H92!I;G!U=',@=7-E9"!I;B!V86QU871I;VX@=&5C:&YI<75E<R!I
M;G1O('1H<F5E(&QE=F5L<R!A<R!F;VQL;W=S.CPO<#X-"@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SXF(S$V,#L\+W`^#0H-
M"CQT86)L92!C96QL<&%D9&EN9STS1#`@8V5L;'-P86-I;F<],T0P('-T>6QE
M/3-$)V9O;G0M<VEZ93H@,3!P=#L@;6%R9VEN+71O<#H@,'!T.R!M87)G:6XM
M8F]T=&]M.B`P<'0[('=I9'1H.B`Q,#`E)SX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@=&]P)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#`N
M-6EN)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,"XR
M-6EN.R<^)B,Q.#,[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@:G5S=&EF>2<^3&5V96P@,2`F(S$U,#L@3V)S97)V86)L92!I;G!U=',@
M)B,Q-3`[('5N861J=7-T960@<75O=&5D('!R:6-E<R!I;B!A8W1I=F4@;6%R
M:V5T<R!F;W(@:61E;G1I8V%L(&%S<V5T<R!A;F0@;&EA8FEL:71I97,[/"]T
M9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,"`P(#`@,"XW
M-6EN.R!T97AT+6%L:6=N.B!J=7-T:69Y.R!T97AT+6EN9&5N=#H@+3`N,C5I
M;B<^)B,Q-C`[/"]P/@T*#0H\=&%B;&4@8V5L;'!A9&1I;F<],T0P(&-E;&QS
M<&%C:6YG/3-$,"!S='EL93TS1"=F;VYT+7-I>F4Z(#$P<'0[(&UA<F=I;BUT
M;W`Z(#!P=#L@;6%R9VEN+6)O='1O;3H@,'!T.R!W:61T:#H@,3`P)2<^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ('1O<"<^#0H@("`@/'1D('-T
M>6QE/3-$)W=I9'1H.B`P+C5I;B<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#`N,C5I;CLG/B8C,3@S.SPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&IU<W1I9GDG/DQE=F5L(#(@)B,Q-3`[($]B
M<V5R=F%B;&4@:6YP=71S(&]T:&5R('1H86X@<75O=&5D('!R:6-E<R!I;F-L
M=61E9"!I;B!,979E;"`Q('1H870@87)E(&]B<V5R=F%B;&4@9F]R('1H92!A
M<W-E="!O<B!L:6%B:6QI='D@=&AR;W5G:"!C;W)R;V)O<F%T:6]N('=I=&@@
M;6%R:V5T(&1A=&$[(&%N9#PO=&0^/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#`@,"`P(#`N-S5I;CL@=&5X="UA;&EG;CH@:G5S=&EF>3L@
M=&5X="UI;F1E;G0Z("TP+C(U:6XG/B8C,38P.SPO<#X-"@T*/'1A8FQE(&-E
M;&QP861D:6YG/3-$,"!C96QL<W!A8VEN9STS1#`@<W1Y;&4],T0G9F]N="US
M:7IE.B`Q,'!T.R!M87)G:6XM=&]P.B`P<'0[(&UA<F=I;BUB;W1T;VTZ(#!P
M=#L@=VED=&@Z(#$P,"4G/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!T;W`G/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,"XU:6XG/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`P+C(U:6X[)SXF(S$X
M,SL\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!J=7-T:69Y
M)SY,979E;"`S("8C,34P.R!5;F]B<V5R=F%B;&4@:6YP=71S("8C,34P.R!I
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M:68[(&UA<F=I;CH@,"`P(#`@,"XW-6EN.R!T97AT+6%L:6=N.B!J=7-T:69Y
M.R!T97AT+6EN9&5N=#H@+3`N,C5I;B<^)B,Q-C`[/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/E1H92!#;VUP86YY
M('9A;'5E9"!I=',@=V%R<F%N=',@=7-I;F<@82!-;VYT90T*0V%R;&\@0FEN
M;VUI86P@3&%T=&EC92U"87-E9"!V86QU871I;VX@;65T:&]D;VQO9WDL(&%D
M:G5S=&5D(&9O<B!M87)K971A8FEL:71Y(')E<W1R:6-T:6]N<RX@4VEG;FEF
M:6-A;G0@87-S=6UP=&EO;G,@=7-E9"!I;B!T:&4-"G9A;'5A=&EO;G,@9F]R
M('1H92!D871E<R!N;W1E9"!A<F4@87,@9F]L;&]W<R`H9F%I<B!V86QU92!I
M;B!T:&]U<V%N9',I.CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SXF(S$V,#L\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&D^/'4^07,@;V8@4V5P=&5M
M8F5R(#,P+"`R,#$R.CPO=3X\+VD^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQI/B8C,38P.SPO:3X\+W`^#0H-
M"CQP('-T>6QE/3-$)V-O;&]R.B!2960[(&9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^)B,Q-C`[/"]P/@T*#0H\=&%B;&4@8V5L;'!A9&1I;F<],T0P
M(&-E;&QS<&%C:6YG/3-$,"!S='EL93TS1"=B;W)D97(M8V]L;&%P<V4Z(&-O
M;&QA<'-E.R!W:61T:#H@,3`P)3L@9F]N="US:7IE.B`Q,'!T)SX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y
M;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@
M8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SY/<FEG:6YA;"!)<W-U
M93QB<B`O/B!$871E/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG
M:'0Z(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!L969T.R!P861D:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/D5X97)C
M:7-E(%!R:6-E/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED)SY6;VQA=&EL:71Y/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R
M9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SY2:7-K/&)R("\^($9R964@
M26YT/&)R("\^(%)A=&4\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O
M;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O
M;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O
M;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M
M.B!";&%C:R`Q<'0@<V]L:60G/E1E<FT\8G(@+SX@*'ER<RD\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!P861D:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!P861D:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!P861D:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/DUA<FME
M=&%B:6QI='D\8G(@+SX@1&ES8V]U;G0\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D
M:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D
M:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!C;VQS<&%N
M/3-$,B!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/B8C,38P
M.R!&86ER(%9A;'5E/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG
M:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/B8C,38P.SPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA
M;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0^
M)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXF(S$V,#L\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\
M=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF
M(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,S0E.R!T97AT+6%L:6=N.B!R:6=H="<^3V-T;V)E<B`R
M,#$P/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SXF(S$V,#L\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ
M(&QE9G0G/B0\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-R4[('1E
M>'0M86QI9VXZ(')I9VAT)SXP+C$R/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/B8C,38P.SPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#<E.R!T97AT+6%L:6=N
M.B!R:6=H="<^-S4N-B4\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,24[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W=I9'1H.B`R)2<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@-R4[('1E>'0M86QI9VXZ(')I9VAT
M)SXP+C8R)3PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X
M="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#(E)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T
M:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`W)3L@=&5X="UA;&EG;CH@<FEG:'0G/C4N,3`\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ
M(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R
M)2<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@-R4[('1E>'0M86QI9VXZ(')I9VAT)SXT."XP)3PO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^
M)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI
M9VXZ(&QE9G0G/B0\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-R4[
M('1E>'0M86QI9VXZ(')I9VAT)SXT,SPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/D1E8V5M8F5R(#(P,3$\+W1D/@T*("`@(#QT9#XF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXD
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/C`N
M.#0\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF
M(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^-S<N-R4\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!R:6=H="<^,"XT-R4\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^-"XR
M,3PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C
M,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXU-2XY)3PO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@
M/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SXU.#4\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S
M."PR,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SY*=6QY(#(P,3(\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXD/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/C`N-3`\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*
M("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^-S8N."4\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M,"XV,B4\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^-"XW-CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SXU-RXU)3PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXS
M+#,U,3PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/B8C,38P.SPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SY*=6QY(#(P,3(\+W1D/@T*
M("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/C`N-#,\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^-S,N.24\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!R:6=H="<^,"XQ-R4\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^,2XR-CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXU-RXU)3PO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXX-3@\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SY397!T96UB97(@,C`Q,CPO=&0^#0H@("`@/'1D
M/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/B0\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^,"XU.3PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXW-"XQ)3PO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^
M#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SXP+C,Q)3PO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SXS+C`P/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/C4X+C4E/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F=#L@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SXF
M(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M=#L@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SXQ+#8U.#PO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M.R!B86-K9W)O=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D/B8C,38P.SPO
M=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF
M(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/B8C,38P.SPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@8F]R9&5R+6)O
M='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE)SXD/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0[(&)O<F1E<BUB;W1T;VTZ($)L86-K
M(#(N-7!T(&1O=6)L92<^-BPT.34\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@
M/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q
M-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M)B,Q-C`[/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/B8C,38P.SPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^
M/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=C;VQO<CH@4F5D.R!F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/B8C,38P.SPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SXF(S$V,#L\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/B8C,38P.SPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\:3X\=3Y!<R!O9B!$96-E;6)E<B`S,2P@
M,C`Q,3H\+W4^/"]I/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\:3XF(S$V,#L\+VD^/"]P/@T*#0H\<"!S='EL
M93TS1"=C;VQO<CH@4F5D.R!F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/B8C,38P.SPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SXF(S$V,#L\+W`^#0H-"CQT86)L92!C96QL<&%D9&EN9STS
M1#`@8V5L;'-P86-I;F<],T0P('-T>6QE/3-$)V)O<F1E<BUC;VQL87!S93H@
M8V]L;&%P<V4[('=I9'1H.B`Q,#`E.R!F;VYT+7-I>F4Z(#$P<'0G/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S
M='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R
M.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/D]R:6=I;F%L($ES
M<W5E/&)R("\^($1A=&4\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI
M9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^17AE
M<F-I<V4@4')I8V4\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H
M=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O;3H@
M,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H
M=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O;3H@
M,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H
M=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O;3H@
M,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H
M=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!"
M;&%C:R`Q<'0@<V]L:60G/E9O;&%T:6QI='D\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P
M861D:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P
M861D:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P
M861D:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!B
M;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/E)I<VL\8G(@+SX@1G)E
M92!);G0\8G(@+SX@4F%T93PO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M
M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M
M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M
M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M
M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB;W1T
M;VTZ($)L86-K(#%P="!S;VQI9"<^5&5R;3QB<B`O/B`H>7)S*3PO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97([('!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97([('!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97([('!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^36%R
M:V5T86)I;&ET>3QB<B`O/B!$:7-C;W5N=#PO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([('!A
M9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([('!A
M9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D(&-O;'-P
M86X],T0R('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^1F%I
M<B!686QU93PO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B
M;VQD.R!T97AT+6%L:6=N.B!L969T.R!P861D:6YG+6)O='1O;3H@,7!T)SXF
M(S$V,#L\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;2<^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[
M/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#,T)3L@=&5X="UA;&EG;CH@<FEG:'0G/D]C=&]B97(@,C`Q,#PO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T
M)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#<E.R!T97AT+6%L
M:6=N.B!R:6=H="<^,"XT-3PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#(E)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`W)3L@=&5X="UA;&EG;CH@<FEG
M:'0G/C8X+C`E/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,B4G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#<E.R!T97AT+6%L:6=N.B!R:6=H="<^,2XP
M.24\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`R)2<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E
M.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@-R4[('1E>'0M86QI9VXZ(')I9VAT)SXU+CDP/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T
M)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA
M;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#<E.R!T97AT+6%L:6=N.B!R:6=H="<^-#<N-"4\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L
M969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#<E.R!T97AT
M+6%L:6=N.B!R:6=H="<^,C(V/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^1&5C96UB97(@,C`Q,3PO=&0^#0H@("`@/'1D/B8C,38P.SPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B0\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^,2XU,#PO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXV."XP)3PO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D
M/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SXP+C@S)3PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXT+CDV/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[
M/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/C4R+C`E/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0^
M)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M=#L@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SXF(S$V,#L\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H=#L@8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SXQ+#8Y-3PO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O
M=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@
M/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q
M-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M)B,Q-C`[/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/B8C,38P.SPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,BXU<'0@9&]U8FQE)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0[(&)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O
M=6)L92<^,2PY,C$\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SXF(S$V,#L\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SXF(S$V,#L\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^)B,Q
M-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/B8C,38P.U1H92!C:&%N9V5S(&EN('1H92!F86ER('9A;'5E(&]F
M('1H90T*0V]M<&%N>28C,30V.W,@3&5V96P@,R!I;G!U=',@=V5R92!A<R!F
M;VQL;W=S("AI;B!T:&]U<V%N9',I.CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SXF(S$V,#L\+W`^#0H-"CQT86)L
M92!C96QL<&%D9&EN9STS1#`@8V5L;'-P86-I;F<],T0P('-T>6QE/3-$)V)O
M<F1E<BUC;VQL87!S93H@8V]L;&%P<V4[('=I9'1H.B`Q,#`E.R!F;VYT+7-I
M>F4Z(#$P<'0G/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T
M;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@.#4E)SY"86QA;F-E+"!$96-E;6)E<B`S
M,2P@,C`Q,3PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^)B,Q
M-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L
M:6=N.B!L969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$Q
M)3L@=&5X="UA;&EG;CH@<FEG:'0G/C$L.3(Q/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@
M8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T)SY787)R86YT(&5X97)C:7-E<SPO=&0^#0H@("`@
M/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SXH,3$R/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^*3PO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S
M."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@
M<&%D9&EN9RUB;W1T;VTZ(#%P="<^061J=7-T;65N=',@=&\@9F%I<B!V86QU
M92!F;W(@=&AE('!E<FEO9#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@
M;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^,S,\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M5VAI=&4G/@T*("`@(#QT9#Y"86QA;F-E+"!-87)C:"`S,2P@,C`Q,CPO=&0^
M#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SXQ+#@T,CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^061J=7-T;65N=',@
M=&\@9F%I<B!V86QU92!F;W(@=&AE('!E<FEO9#PO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@
M=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N
M.B!R:6=H="<^*#$L,C@U/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^*3PO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O
M=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D/D)A;&%N8V4L($IU;F4@,S`L
M(#(P,3(\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^-34W/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U
M;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9#Y*=6QY($]F
M9F5R:6YG/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/C,L,S@P/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0^4V5P=&5M8F5R($]F9F5R
M:6YG/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/C$L-C4X/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U
M;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T.R!P861D:6YG+6)O='1O;3H@,7!T)SY!9&IU
M<W1M96YT<R!T;R!F86ER('9A;'5E(&9O<B!T:&4@<&5R:6]D/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T
M('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E
M>'0M86QI9VXZ(')I9VAT)SXY,#`\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\
M+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O
M;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/D)A;&%N8V4L(%-E<'1E;6)E<B`S
M,"P@,C`Q,CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`R+C5P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T
M)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^-BPT.34\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E
M>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/B8C,38P
M.SPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SXF(S$V,#L\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
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M(#$N/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/B8C,38P.SPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P)SY4:&4@
M9F]L;&]W:6YG('1A8FQE('-U;6UA<FEZ97,@9F%I<B!V86QU92!M96%S=7)E
M;65N=',@8GD@;&5V96P-"F%T(%-E<'1E;6)E<B`S,"P@,C`Q,B`H:6X@=&AO
M=7-A;F1S*3H\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,"<^)B,Q-C`[/"]P
M/@T*#0H\=&%B;&4@8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!S
M='EL93TS1"=B;W)D97(M8V]L;&%P<V4Z(&-O;&QA<'-E.R!W:61T:#H@,3`P
M)3L@9F]N="US:7IE.B`Q,'!T)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA
M;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$
M)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E
M<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^3&5V96P@,3PO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0M=V5I9VAT
M.B!B;VQD)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O
M;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@
M,7!T('-O;&ED)SY,979E;"`R/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P=#L@9F]N="UW96EG:'0Z(&)O;&0G/B8C,38P.SPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!P861D
M:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!C;VQS<&%N
M/3-$,B!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/DQE=F5L
M(#,\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T
M.R!F;VYT+7=E:6=H=#H@8F]L9"<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G
M/B8C,38P.SPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V9O
M;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB
M;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^5&]T86P\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT+7=E:6=H=#H@8F]L
M9"<^)B,Q-C`[/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L
M:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S
M."DG/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X
M="UD96-O<F%T:6]N.B!U;F1E<FQI;F4[('1E>'0M:6YD96YT.B`M,6EN.R!P
M861D:6YG+6QE9G0Z(#%I;B<^07-S971S.CPO=&0^#0H@("`@/'1D/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@-#@E.R!P861D:6YG+6)O='1O;3H@
M,7!T.R!T97AT+6EN9&5N=#H@+3%I;CL@<&%D9&EN9RUL969T.B`Q:6XG/D-O
M;6UO9&ET>2!C;VYT<F%C=',H,2D\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@,B4[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SXD/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q
M<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SXU,30\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E
M>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`R)3L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M8F]T=&]M.B!"
M;&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@8F]R9&5R+6)O='1O;3H@
M0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^)B,Q-3`[/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O
M;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,B4[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SXF
M(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@.24[(&)O<F1E
M<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G
M/B8C,34P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D
M9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E.R!P861D:6YG+6)O='1O
M;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,24[(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG
M;CH@;&5F="<^)#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@
M8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R
M:6=H="<^-3$T/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!P
M861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\
M+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O
M;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M
M.B`R+C5P=#L@=&5X="UI;F1E;G0Z(#@N-G!T.R!P861D:6YG+6QE9G0Z(#`N
M-6EN)SY4;W1A;"!!<W-E=',\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,BXU<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA
M;&EG;CH@;&5F="<^)#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G
M/C4Q-#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R
M+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SXF(S$V,#L\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D
M;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/B0\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M
M86QI9VXZ(')I9VAT)SXF(S$U,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SXD/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^)B,Q-3`[/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L
M:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,BXU<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA
M;&EG;CH@;&5F="<^)#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G
M/C4Q-#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R
M+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X\+W1R/@T*/"]T
M86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[('1E>'0M86QI9VXZ(&QE9G0[(&UA<F=I;BUT;W`Z
M(#`[(&UA<F=I;BUB;W1T;VTZ(#`G/E]?7U]?7U]?7U\\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[('1E>'0M86QI9VXZ(&QE9G0[(&UA<F=I;BUT;W`Z(#`[(&UA<F=I;BUB
M;W1T;VTZ(#`G/B@Q*2!);F-L=61E9"!I;B!O=&AE<B!C=7)R96YT#0IA<W-E
M=',@:6X@=&AE(&-O;G-O;&ED871E9"!B86QA;F-E('-H965T<RX\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,"`P(#`@,"XR-6EN.R!T97AT+6EN9&5N=#H@
M.7!T)SXF(S$V,#L\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,"`P(#`@,"XR
M-6EN.R!T97AT+6EN9&5N=#H@.7!T)SXF(S$V,#LF(S$V,#L\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,"`P(#`@,"XR-6EN.R!T97AT+6EN9&5N=#H@.7!T
M)SXF(S$V,#L\+W`^#0H-"CQT86)L92!C96QL<&%D9&EN9STS1#`@8V5L;'-P
M86-I;F<],T0P('-T>6QE/3-$)V)O<F1E<BUC;VQL87!S93H@8V]L;&%P<V4[
M('=I9'1H.B`Q,#`E.R!F;VYT+7-I>F4Z(#$P<'0G/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9#XF(S$V,#L\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@<&%D9&EN
M9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS
M1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E
M;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SY,979E;"`Q
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@
M9F]N="UW96EG:'0Z(&)O;&0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!P861D:6YG+6)O='1O;3H@,7!T)SXF
M(S$V,#L\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=F;VYT
M+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T
M=&]M.B!";&%C:R`Q<'0@<V]L:60G/DQE=F5L(#(\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT+7=E:6=H=#H@8F]L
M9"<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@
M/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T
M97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S
M;VQI9"<^3&5V96P@,SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SXF(S$V,#L\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@<&%D9&EN9RUB
M;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@
M<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E
M<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SY4;W1A;#PO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0M
M=V5I9VAT.B!B;VQD)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)V9O
M;G0M=V5I9VAT.B!B;VQD.R!T97AT+61E8V]R871I;VXZ('5N9&5R;&EN93L@
M=&5X="UI;F1E;G0Z("TQ:6X[('!A9&1I;F<M;&5F=#H@,6EN)SY,:6%B:6QI
M=&EE<SH\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@
M("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXF
M(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@-#@E.R!T97AT+6%L:6=N.B!L969T)SY787)R86YT
M<SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L
M969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!T97AT
M+6%L:6=N.B!R:6=H="<^)B,Q-3`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/B8C,38P.SPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^)#PO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@=&5X="UA;&EG;CH@<FEG
M:'0G/B8C,34P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@
M=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#(E)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/B0\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@.24[('1E>'0M86QI9VXZ(')I9VAT)SXV+#0Y-3PO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@
M;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E
M)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E
M>'0M86QI9VXZ(&QE9G0G/B0\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T
M:#H@.24[('1E>'0M86QI9VXZ(')I9VAT)SXV+#0Y-3PO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[
M/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T
M;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UI;F1E;G0Z("TQ:6X[('!A
M9&1I;F<M;&5F=#H@,6EN)SY#;VUM;V1I='D@8V]N=')A8W1S*#$I/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@
M,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[
M('1E>'0M86QI9VXZ(')I9VAT)SXR.3$\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T
M)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P
M="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/B8C,34P.SPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ
M(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^)B,Q-3`[
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@
M=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT
M+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B
M;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(')I
M9VAT)SXR.3$\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X
M="UI;F1E;G0Z(#@N-G!T.R!P861D:6YG+6QE9G0Z(#`N-6EN)SY4;W1A;"!,
M:6%B:6QI=&EE<SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`R+C5P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L
M969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^,CDQ/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@
M=&5X="UA;&EG;CH@;&5F="<^)#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@
M<FEG:'0G/B8C,34P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C
M:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/B0\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B
M;&4[('1E>'0M86QI9VXZ(')I9VAT)SXV+#0Y-3PO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#(N-7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE
M9G0G/B0\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!"
M;&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SXV+#<X-CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@
M=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X\+W1R/@T*/"]T86)L93X-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,"<^7U]?7U]?7U]?7SPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN+71O<#H@,#L@;6%R9VEN+6)O='1O;3H@,"<^*#$I($EN8VQU
M9&5D(&EN(&%C8W)U960@;&EA8FEL:71I97,@:6X@=&AE#0IC;VYS;VQI9&%T
M960@8F%L86YC92!S:&5E=',N/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`G
M/B8C,38P.SPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P)SY4:&4@9F]L;&]W
M:6YG('1A8FQE<R!S=6UM87)I>F4@9F%I<B!V86QU92!M96%S=7)E;65N=',@
M8GD@;&5V96P-"F%T($1E8V5M8F5R(#,Q+"`R,#$Q("AI;B!T:&]U<V%N9',I
M.CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P)SXF(S$V,#L\+W`^#0H-"CQT
M86)L92!C96QL<&%D9&EN9STS1#`@8V5L;'-P86-I;F<],T0P('-T>6QE/3-$
M)V)O<F1E<BUC;VQL87!S93H@8V]L;&%P<V4[('=I9'1H.B`Q,#`E.R!F;VYT
M+7-I>F4Z(#$P<'0G/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VTG/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=F;VYT+7=E:6=H=#H@8F]L9#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q
M-C`[/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW
M96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED)SY,979E;"`Q/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@9F]N="UW96EG:'0Z(&)O;&0G
M/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B
M;VQD.R!P861D:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9"!C;VQS<&%N/3-$,B!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X
M="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L
M:60G/DQE=F5L(#(\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^)B,Q-C`[/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T
M>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([
M(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^3&5V96P@,SPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0M
M=V5I9VAT.B!B;VQD)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F
M;VYT+7=E:6=H=#H@8F]L9#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[
M/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG
M:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@
M0FQA8VL@,7!T('-O;&ED)SY4;W1A;#PO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SXF(S$V
M,#L\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+61E8V]R
M871I;VXZ('5N9&5R;&EN93L@=&5X="UI;F1E;G0Z("TQ:6X[('!A9&1I;F<M
M;&5F=#H@,6EN)SY!<W-E=',Z/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C
M,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/B8C,38P.SPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`T."4[('!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E
M>'0M:6YD96YT.B`M,6EN.R!P861D:6YG+6QE9G0Z(#%I;B<^0V]M;6]D:71Y
M(&-O;G1R86-T<R@Q*3PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R
M)3L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@
M<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/B0\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@.24[(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI
M9#L@=&5X="UA;&EG;CH@<FEG:'0G/C(T-#PO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG
M;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#(E.R!P861D:6YG+6)O='1O;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,24[(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P
M="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q
M<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SXF(S$U,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`Q<'0[
M('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`R)3L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M8F]T=&]M
M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^)B,Q-3`[
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O
M='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,B4[('!A9&1I;F<M8F]T=&]M.B`Q<'0G
M/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R
M9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T
M)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!B;W)D97(M
M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SXR
M-#0\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M
M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^/"]T
M<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K
M9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#(N-7!T
M.R!T97AT+6EN9&5N=#H@."XV<'0[('!A9&1I;F<M;&5F=#H@,"XU:6XG/E1O
M=&%L($%S<V5T<SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`R+C5P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L
M969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^,C0T/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@
M=&5X="UA;&EG;CH@;&5F="<^)#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@
M<FEG:'0G/B8C,34P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C
M:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/B0\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B
M;&4[('1E>'0M86QI9VXZ(')I9VAT)SXF(S$U,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE
M9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`R+C5P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L
M969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^,C0T/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/CPO='(^#0H\+W1A8FQE/@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@=&5X="UA;&EG;CH@;&5F=#L@;6%R9VEN+71O<#H@,#L@;6%R
M9VEN+6)O='1O;3H@,"<^7U]?7U]?7U]?7SPO<#X-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN+71O<#H@,#L@;6%R9VEN+6)O='1O;3H@,"<^*#$I($EN8VQU9&5D(&EN
M(&]T:&5R(&-U<G)E;G0@87-S971S(&EN('1H90T*8V]N<V]L:61A=&5D(&)A
M;&%N8V4@<VAE971S+CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P(#`@,"`T
M-7!T)SXF(S$V,#LF(S$V,#L\+W`^#0H-"CQT86)L92!C96QL<&%D9&EN9STS
M1#`@8V5L;'-P86-I;F<],T0P('-T>6QE/3-$)V)O<F1E<BUC;VQL87!S93H@
M8V]L;&%P<V4[('=I9'1H.B`Q,#`E.R!F;VYT+7-I>F4Z(#$P<'0G/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9#XF
M(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L
M9#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@
M8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M
M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED
M)SY,979E;"`Q/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#%P=#L@9F]N="UW96EG:'0Z(&)O;&0G/B8C,38P.SPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!P861D:6YG+6)O='1O
M;3H@,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL
M93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!B
M;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/DQE=F5L(#(\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT+7=E
M:6=H=#H@8F]L9"<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N
M="UW96EG:'0Z(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO
M=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V9O;G0M=V5I9VAT
M.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L
M86-K(#%P="!S;VQI9"<^3&5V96P@,SPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SXF(S$V
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@
M<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@8V]L
M<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI
M9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SY4
M;W1A;#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)V9O
M;G0M=V5I9VAT.B!B;VQD.R!T97AT+61E8V]R871I;VXZ('5N9&5R;&EN93L@
M=&5X="UI;F1E;G0Z("TQ:6X[('!A9&1I;F<M;&5F=#H@,6EN)SY,:6%B:6QI
M=&EE<SH\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@
M("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D/B8C,38P.SPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SXF
M(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SXF(S$V,#L\+W1D/@T*("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#0X)3L@=&5X="UA;&EG;CH@;&5F="<^5V%R<F%N=',H,2D\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/B8C,38P.SPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^)#PO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@=&5X="UA;&EG;CH@
M<FEG:'0G/B8C,34P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M)3L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#(E)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/B0\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@.24[('1E>'0M86QI9VXZ(')I9VAT)SXF(S$U
M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`R)2<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E
M.R!T97AT+6%L:6=N.B!L969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#DE.R!T97AT+6%L:6=N.B!R:6=H="<^,2PY,C$\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/B8C
M,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^)B,Q-C`[
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N
M.B!L969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!T
M97AT+6%L:6=N.B!R:6=H="<^,2PY,C$\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^/"]T
M<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K
M9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UI;F1E;G0Z("TQ:6X[
M('!A9&1I;F<M;&5F=#H@,6EN)SY#;VUM;V1I='D@8V]N=')A8W1S*#(I/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q
M-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L
M:60[('1E>'0M86QI9VXZ(')I9VAT)SXU,#`\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SXF
M(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K
M(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/B8C,34P.SPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@
M;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^)B,Q
M-3`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P
M=#L@=&5X="UA;&EG;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^)B,Q-C`[/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T
M97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ
M(')I9VAT)SXU,#`\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SXF(S$V,#L\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T.R!P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M:6YD96YT
M.B`X+C9P=#L@<&%D9&EN9RUL969T.B`P+C5I;B<^5&]T86P@3&EA8FEL:71I
M97,\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU
M<'0G/B8C,38P.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F="<^)#PO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N
M-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/C4P,#PO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG
M;CH@;&5F="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#(N-7!T)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI
M9VXZ(&QE9G0G/B0\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SXF
M(S$U,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P.SPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P="<^)B,Q-C`[/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@
M9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SXD/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT
M+6%L:6=N.B!R:6=H="<^,2PY,C$\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G/B8C,38P
M.SPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P
M="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SXD/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^,BPT,C$\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI
M9VXZ(&QE9G0G/B8C,38P.SPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!T97AT+6%L:6=N.B!L969T.R!M87)G:6XM=&]P.B`P.R!M87)G:6XM8F]T
M=&]M.B`P)SY?7U]?7U]?7U]?/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!T97AT+6%L:6=N
M.B!L969T.R!M87)G:6XM=&]P.B`P.R!M87)G:6XM8F]T=&]M.B`P)SXH,2D@
M26YC;'5D960@:6X@;W1H97(@;&EA8FEL:71I97,-"FEN('1H92!C;VYS;VQI
M9&%T960@8F%L86YC92!S:&5E=',N/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!T97AT+6%L
M:6=N.B!L969T.R!M87)G:6XM=&]P.B`P.R!M87)G:6XM8F]T=&]M.B`P)SXH
M,BD@26YC;'5D960@:6X@86-C<G5E9`T*;&EA8FEL:71I97,@:6X@=&AE(&-O
M;G-O;&ED871E9"!B86QA;F-E('-H965T<RX\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,"`P(#`@,"XR-6EN.R!T97AT+6EN9&5N=#H@.7!T)SXF(S$V,#L\
M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,"`P(#`@,"XR-6EN.R!T97AT+6EN
M9&5N=#H@.7!T)SXF(S$V,#L\+W`^#0H-"@T*#0H\<"!S='EL93TS1"=M87)G
M:6XZ(#!P="<^)B,Q-C`[/"]P/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY4:&4@9F%I<@T*=F%L=64@:&EE<F%R8VAY('!R:6]R:71I>F5S('1H
M92!I;G!U=',@=7-E9"!I;B!V86QU871I;VX@=&5C:&YI<75E<R!I;G1O('1H
M<F5E(&QE=F5L<R!A<R!F;VQL;W=S.CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!W
M:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ('1O
M<"<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`V,'!X.R!F;VYT+7-I>F4Z
M(#$P<'0[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#,P<'@[(&9O;G0Z(#$P<'0@4WEM8F]L.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q.#,[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M<VEZ
M93H@,3!P=#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/DQE=F5L(#$@)B,Q-3`[($]B<V5R=F%B;&4@:6YP
M=71S("8C,34P.R!U;F%D:G5S=&5D#0H@("`@<75O=&5D('!R:6-E<R!I;B!A
M8W1I=F4@;6%R:V5T<R!F;W(@:61E;G1I8V%L(&%S<V5T<R!A;F0@;&EA8FEL
M:71I97,[/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\=&%B;&4@8V5L
M;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P
M)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ('1O<"<^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`V,'!X.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`S,'!X.R!T97AT+6%L
M:6=N.B!J=7-T:69Y.R<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,3@S.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M3&5V96P@,B`F(S$U,#L@3V)S97)V86)L92!I;G!U=',@;W1H97(@=&AA;B!Q
M=6]T960@<')I8V5S(&EN8VQU9&5D#0H@("`@:6X@3&5V96P@,2!T:&%T(&%R
M92!O8G-E<G9A8FQE(&9O<B!T:&4@87-S970@;W(@;&EA8FEL:71Y('1H<F]U
M9V@@8V]R<F]B;W)A=&EO;B!W:71H(&UA<FME="!D871A.R!A;F0\+V9O;G0^
M/"]T9#X\+W1R/@T*/"]T86)L93X-"CQT86)L92!C96QL<W!A8VEN9STS1#`@
M8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I9'1H.B`Q,#`E)SX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@=&]P)SX-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#8P<'@[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#,P<'@[('1E>'0M86QI9VXZ(&IU<W1I9GD[
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q.#,[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY,979E;"`S("8C,34P
M.R!5;F]B<V5R=F%B;&4@:6YP=71S("8C,34P.R!I;F-L=61E<R!A;6]U;G1S
M#0H@("`@9&5R:79E9"!F<F]M('9A;'5A=&EO;B!M;V1E;',@=VAE<F4@;VYE
M(&]R(&UO<F4@<VEG;FEF:6-A;G0@:6YP=71S(&%R92!U;F]B<V5R=F%B;&4N
M($9O<B!F86ER('9A;'5E(&UE87-U<F5M96YT<R!U<VEN9R!S:6=N:69I8V%N
M=`T*("`@('5N;V)S97)V86)L92!I;G!U=',L(&$@9&5S8W)I<'1I;VX@;V8@
M=&AE(&EN<'5T<R!A;F0@=&AE(&EN9F]R;6%T:6]N('5S960@=&\@9&5V96QO
M<"!T:&4@:6YP=71S(&ES(')E<75I<F5D(&%L;VYG('=I=&@@82!R96-O;F-I
M;&EA=&EO;@T*("`@(&]F($QE=F5L(#,@=F%L=65S(&9R;VT@=&AE('!R:6]R
M(')E<&]R=&EN9R!P97)I;V0N/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU
M/D-O;G9E<G1I8FQE#0I.;W1E<R!A;F0@,C`Q,"!787)R86YT<SPO=3X\+VD^
M("8C,34P.R!!<R!D:7-C=7-S960@:6X@3F]T97,@-B!A;F0@,3`L('1H92!#
M;VUP86YY(')E8V]R9&5D('1H92!C;VYV97)T:6)L92!N;W1E<R!A;F0@<F5L
M871E9`T*=V%R<F%N=',@870@9F%I<B!V86QU92!A;F0@9&5S:6=N871E9"!T
M:&5M(&%S($QE=F5L(#,@;VX@=&AE:7(@:7-S=6%N8V4@9&%T92X\+V9O;G0^
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J
M=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
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M9&5B=`T*:6YS=')U;65N="X@4VEG;FEF:6-A;G0@87-S=6UP=&EO;G,@=7-E
M9"!I;B!T:&4@=F%L=6%T:6]N(&%T(&)O=&@@=&AE(&ES<W5A;F-E(&1A=&4@
M86YD($1E8V5M8F5R(#,Q+"`R,#$P(&%R92!A<R!F;VQL;W=S.CPO9F]N=#X\
M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/B8C,38P.SPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\=&%B;&4@8V5L;'!A9&1I
M;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!S='EL93TS1"=W:61T:#H@,3`P)3L@
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#)P>"!S;VQI9#L@=&5X
M="UA;&EG;CH@;&5F=#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M:6YD96YT
M.B`P<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!<W-U;7!T
M:6]N<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`R<'@@<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E<CL@9F]N
M="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#,@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,G!X('-O;&ED.R!T97AT+6%L
M:6=N.B!C96YT97([(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6EN9&5N=#H@
M,'!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3V-T;V)E<@T*
M("`@(#8L(#(P,3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,G!X('-O;&ED.R!T97AT+6%L:6=N.B!C96YT
M97([(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X]
M,T0S('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#)P>"!S;VQI9#L@
M=&5X="UA;&EG;CH@8V5N=&5R.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UI
M;F1E;G0Z(#!P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D1E
M8V5M8F5R#0H@("`@,S$L(#(P,3`\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T
M>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@-34E.R!T97AT+6%L:6=N.B!J=7-T:69Y.R!T97AT+6EN
M9&5N=#H@,'!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0V]N
M=F5R<VEO;B!P<FEC93PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)"`U+CDU/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=W:61T:#H@.24[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$Q)3L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD(#4N
M.34\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W=I9'1H.B`Y)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G8F%C:V=R;W5N9"UC;VQO<CH@(V5E965E93L@=F5R=&EC
M86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&IU<W1I9GD[('1E>'0M:6YD96YT.B`P<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY6;VQA=&EL:71Y/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C<S+C<\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXE/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C8X+C0\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXE/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=B86-K9W)O
M=6YD+6-O;&]R.B!W:&ET93L@=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU<W1I9GD[('1E>'0M:6YD
M96YT.B`P<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY2:7-K
M(&9R964@:6YT97)E<W0@<F%T93PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXP+C(T/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)3PO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXP+C(Y/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)3PO
M9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G8F%C:V=R;W5N9"UC;VQO
M<CH@(V5E965E93L@=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU<W1I9GD[('1E>'0M:6YD96YT.B`P
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY497)M("AY96%R
M<RD\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,2XR-SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+C`S/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=B86-K9W)O=6YD+6-O;&]R.B!W:&ET
M93L@=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&IU<W1I9GD[('1E>'0M:6YD96YT.B`P<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY-87)K971A8FEL:71Y(&1I<V-O
M=6YT/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C,R+C`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXE/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C(W+C`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXE/"]F;VYT/CPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=B86-K9W)O=6YD+6-O;&]R.B`C965E965E.R!V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@:G5S=&EF>3L@=&5X="UI;F1E;G0Z(#!P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/D1I<V-O=6YT(')A=&4@;VX@<&QA:6X@9&5B
M=#PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXS,"XP/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)3PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXS,"XP/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)3PO9F]N=#X\+W1D/CPO='(^#0H\
M+W1A8FQE/@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^0F%S960@;VX-"G1H92!A8F]V92P@=&AE($-O;7!A;GD@97-T
M:6UA=&5D('1H92!F86ER('9A;'5E(&]F('1H92!C;VYV97)T:6)L92!N;W1E
M<R!T;R!B92`D,S<L-#<T+#`P,"!A="!/8W1O8F5R(#8L(#(P,3`@86YD("0S
M."PQ,#@L,#`P#0IA="!$96-E;6)E<B`S,2P@,C`Q,"X@5&AE($-O;7!A;GD@
M8V]N=&EN=65D(&5S=&EM871I;F<@=&AE(&9A:7(@=F%L=64@;V8@=&AE(&-O
M;G9E<G1I8FQE(&YO=&5S('%U87)T97)L>2!U;G1I;"!T:&5I<B!R971I<F5M
M96YT#0IO;B!.;W9E;6)E<B`Q-"P@,C`Q,2X\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!W87)R86YT
M<PT*=V5R92!V86QU960@=7-I;F<@82!-;VYT92!#87)L;R!":6YO;6EA;"!,
M871T:6-E+4)A<V5D('9A;'5A=&EO;B!M971H;V1O;&]G>2P@861J=7-T960@
M9F]R(&UA<FME=&%B:6QI='D@<F5S=')I8W1I;VYS+B!3:6=N:69I8V%N=`T*
M87-S=6UP=&EO;G,@=7-E9"!I;B!T:&4@=F%L=6%T:6]N<R!F;W(@=&AE(&1A
M=&5S(&YO=&5D(&%R92!A<R!F;VQL;W=S.CPO9F]N=#XF(S$V,#L\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]P/@T*#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$
M,"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM
M86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D%S<W5M<'1I;VYS/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!C;VQS<&%N/3-$,R!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E
M;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D]C=&]B97(-
M"B`@("`V+"`R,#$P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@
M8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P
M86X],T0S('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O
M;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^1&5C96UB97(-"B`@("`S
M,2P@,C`Q,#PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^
M#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`U-B4G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY3=')I:V4@<')I8V4\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,3$E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B0U+CDU/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=W:61T:#H@.24G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3$E.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0U+CDU/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=W:61T:#H@.24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E
M)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E9O
M;&%T:6QI='D\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-C<N,#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B4\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-C,N-3PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B4\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%
M145%144G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^4FES:R!F<F5E(&EN=&5R97-T(')A=&4\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,2XW-SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B4\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,BXW,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B4\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/E1E<FT@*'EE87)S*3PO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXW+C`P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A
M<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C8N.3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L
M:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^36%R:V5T86)I
M;&ET>2!D:7-C;W5N=#PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU,"XT/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)3PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD-#0N-#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B4\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L
M93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0F%S
M960@;VX-"G1H92!A8F]V92P@=&AE($-O;7!A;GD@97-T:6UA=&5D('1H92!F
M86ER('9A;'5E(&]F('1H92!W87)R86YT<R!T;R!B92`D-RPT-#4L,#`P(&%T
M($]C=&]B97(@-BP@,C`Q,"!A;F0@)#4L-S$X+#`P,"!A="!$96-E;6)E<@T*
M,S$L(#(P,3`N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY!<R!D:7-C=7-S960-"FEN($YO=&4@,3`L(&%S
M(&$@<F5S=6QT(&]F('1H92!#;VUP86YY)B,Q-#8[<R!P<FEV871E('!L86-E
M;65N="!O;B!$96-E;6)E<B`Q,RP@,C`Q,2P@=&AE('-T<FEK92!P<FEC92!O
M9B!T:&4@,C`Q,"!787)R86YT<R!R97-E="X-"E1H92!#;VUP86YY(&5S=&EM
M871E9"!T:&4@9F%I<B!V86QU92!O9B!T:&4@,C`Q,"!787)R86YT<R!O;B!$
M96-E;6)E<B`Q,RP@,C`Q,2!A;F0@1&5C96UB97(@,S$L(#(P,3$@87,@9F]L
M;&]W<SH\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QS<&%C:6YG
M/3-$,"!C96QL<&%D9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@=VED=&@Z(#$P,"4G/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@9F]N
M="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY!<W-U;7!T:6]N<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B
M;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z
M(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#,@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B
M;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY$96-E;6)E<@T*("`@(#$S+"`R,#$Q/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS
M<&%N/3-$,R!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D1E8V5M8F5R#0H@("`@
M,S$L(#(P,3$\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-38E)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^4W1R:6ME('!R:6-E/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$Q)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXD,"XT-3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#DE)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T
M:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$Q)3L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXD,"XT-3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@
M<W1Y;&4],T0G=VED=&@Z(#DE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V
M97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET
M92<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY6
M;VQA=&EL:71Y/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C<R+C,\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXE/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C8X+C`\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXE/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS
M1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C
M145%145%)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/E)I<VL@9G)E92!I;G1E<F5S="!R871E/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C$N,3,\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXE/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C$N,#D\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXE/"]F;VYT/CPO=&0^
M/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B
M86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SY497)M("AY96%R<RD\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^-2XY,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXU+CDP/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA
M;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DUA<FME=&%B
M:6QI='D@9&ES8V]U;G0\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-3`N,CPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B4\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-#<N-#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B4\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L
M93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0F%S
M960@;VX-"G1H92!A8F]V92P@=&AE($-O;7!A;GD@97-T:6UA=&5D('1H92!F
M86ER('9A;'5E(&]F('1H92`R,#$P(%=A<G)A;G1S('1O(&)E("0Q+#,Y-"PP
M,#`@870@1&5C96UB97(@,3,L(#(P,3$@86YD("0R,C8L,#`P(&%T($1E8V5M
M8F5R#0HS,2P@,C`Q,2X\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92`R,#$Q#0I787)R86YT<R!W97)E
M('9A;'5E9"!U<VEN9R!A($UO;G1E($-A<FQO($)I;F]M:6%L($QA='1I8V4M
M0F%S960@=F%L=6%T:6]N(&UE=&AO9&]L;V=Y+"!A9&IU<W1E9"!F;W(@;6%R
M:V5T86)I;&ET>2!R97-T<FEC=&EO;G,N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY3:6=N:69I8V%N=`T*
M87-S=6UP=&EO;G,@=7-E9"!I;B!T:&4@=F%L=6%T:6]N<R!F;W(@=&AE(&1A
M=&5S(&YO=&5D(&%R92!A<R!F;VQL;W=S.CPO9F]N=#X\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*
M#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/D%S<W5M<'1I;VYS/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS
M<&%N/3-$,R!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D1E8V5M8F5R#0H@("`@
M,3,L(#(P,3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD
M.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS
M1#,@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[
M(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY$96-E;6)E<@T*("`@(#,Q+"`R
M,#$Q/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA
M;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#4V)2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E-T<FEK92!P<FEC93PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)#$N-3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P('-T>6QE/3-$)W=I9'1H.B`Y)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#$N
M-3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W=I9'1H.B`Y)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5F]L871I
M;&ET>3PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXW,BXS/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)3PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXV."XP/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%
M12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY2
M:7-K(&9R964@:6YT97)E<W0@<F%T93PO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXP+C@U
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)3PO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXP
M+C@S/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)3PO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^5&5R;2`H>65A<G,I/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C4N,#`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^-"XY-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY-87)K971A8FEL:71Y
M(&1I<V-O=6YT/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4T+CD\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXE/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4R+C`\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXE/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D)A<V5D(&]N
M#0IT:&4@86)O=F4L('1H92!#;VUP86YY(&5S=&EM871E9"!T:&4@9F%I<B!V
M86QU92!O9B!T:&4@,C`Q,2!787)R86YT<R!T;R!B92`D,2PX,#DL,#`P(&%T
M($1E8V5M8F5R(#$S+"`R,#$Q(&%N9"`D,2PV.34L,#`P(&%T($1E8V5M8F5R
M#0HS,2P@,C`Q,2X\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/DEN=&5R97-T#0I2871E($-A<',@
M86YD(%-W87!S/"]U/CPO:3X@)B,Q-3`[(%!R:6]R('1O('1H92!%9F9E8W1I
M=F4@1&%T92P@=&AE($-O;7!A;GD@8VQA<W-I9FEE9"!T:&4@4&QA;G0@3W=N
M97)S)B,Q-#8[(&EN=&5R97-T(')A=&4-"F-A<',@86YD('-W87!S(&EN=&\@
M=&AE(&9O;&QO=VEN9R!L979E;',@9&5P96YD:6YG(&]N('1H92!I;G!U=',@
M=7-E9"!T;R!D971E<FUI;F4@=&AE:7(@9F%I<B!V86QU97,N(%1H92!F86ER
M('9A;'5E(&]F('1H92!I;G1E<F5S=`T*<F%T92!C87!S('=E<F4@9&5S:6=N
M871E9"!A<R!,979E;"`R(&)A<V5D(&]N('%U;W1E9"!P<FEC97,@;VX@<VEM
M:6QA<B!A<W-E=',@;W(@;&EA8FEL:71I97,@:6X@86-T:79E(&UA<FME=',N
M(%1H92!F86ER('9A;'5E<PT*;V8@=&AE(&EN=&5R97-T(')A=&4@<W=A<',@
M=V5R92!D97-I9VYA=&5D(&%S($QE=F5L(#,@86YD('=E<F4@8F%S960@;VX@
M82!C;VUB:6YA=&EO;B!O9B!O8G-E<G9A8FQE(&EN<'5T<R!A;F0@;6%T97)I
M86P@=6YO8G-E<G9A8FQE#0II;G!U=',N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
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M<G,F(S$T-CL@9FEN86YC:6%L(&-O;F1I=&EO;B!A;F0@0VAA<'1E<B`Q,2!&
M:6QI;F=S+"!A(')E8V]V97)Y(')A=&4@;V8@-#`E#0IW87,@87!P;&EE9"!T
M;R!T:&%T('9A;'5E+B!-86YA9V5M96YT(&5L96-T960@=&AE(#0P)2!R96-O
M=F5R>2!R871E(&EN('1H92!A8G-E;F-E(&]F(&%N>2!O=&AE<B!C;VUP86YY
M+7-P96-I9FEC(&EN9F]R;6%T:6]N+@T*07,@=&AE(')E8V]V97)Y(')A=&4@
M:7,@82!M871E<FEA;"!U;F]B<V5R=F%B;&4@:6YP=70L('1H97-E('-W87!S
M('=E<F4@8V]N<VED97)E9"!,979E;"`S+B!/;B!*=6YE(#(Y+"`R,#$P+"!T
M:&4@;&EA8FEL:71Y(&)A;&%N8V4-"F]F("0Q+#8R."PP,#`@=V%S(')E;6]V
M960@9G)O;2!T:&4@0V]M<&%N>28C,30V.W,@8V]N<V]L:61A=&5D(&9I;F%N
M8VEA;"!S=&%T96UE;G1S(&%S(&1I<V-U<W-E9"!I;B!.;W1E(#<N/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
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M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H
M92!F;VQL;W=I;F<-"G1A8FQE('-U;6UA<FEZ97,@9F%I<B!V86QU92!M96%S
M=7)E;65N=',@8GD@;&5V96P@870@1&5C96UB97(@,S$L(#(P,3$@*&EN('1H
M;W5S86YD<RDZ/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQT86)L92!C96QL<W!A
M8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I9'1H.B`Q,#`E)SX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED
M.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$
M,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@
M9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQE=F5L#0H@("`@,3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E
M;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQE=F5L#0H@
M("`@,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M
M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9"<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E
M>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/DQE=F5L#0H@("`@,SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@
M<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E
M:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@9F]N="UW96EG
M:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/E1O=&%L/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO
M=W)A<#TS1&YO=W)A<"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S
M='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UD96-O<F%T:6]N.B!U
M;F1E<FQI;F4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!<W-E
M=',Z/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A
M;CTS1#(^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C
M;VQS<&%N/3-$,CX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`T-"4[('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/D-O;6UO9&ET>2!C;VYT<F%C=',\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O
M='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E
M.R!B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#$Q)3L@8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU
M<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,C0T/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('!A
M9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@,24[(&)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3$E.R!B;W)D97(M8F]T=&]M.B!B
M;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU
M<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[(&)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED
M=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M8F]T=&]M
M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$Q)3L@8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,C0T/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL
M93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C
M:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`S<'0[('1E>'0M:6YD96YT.B`Y<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4;W1A;"!!<W-E=',\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U
M<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(T-#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U
M8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C(T-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO
M=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M=VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@
M=&5X="UD96-O<F%T:6]N.B!U;F1E<FQI;F4[('1E>'0M:6YD96YT.B`M,6EN
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3&EA8FEL:71I97,Z
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`Q,2!787)R86YT<R@Q*3PO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C$L-CDU/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#8Y-3PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXR,#$P(%=A<G)A;G1S*#$I/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,C(V/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C(R-CPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0V]M
M;6]D:71Y(&-O;G1R86-T<R@Q*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@
M<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^-3`P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U
M,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@
M<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^-3`P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,W!T.R!T97AT+6EN9&5N=#H@.7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&]T86P@3&EA8FEL:71I97,\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4P,#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3$[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXQ+#DR,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P
M="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,BPT,C$\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X\+W1R/@T*/"]T86)L93X-"@T*#0H-"@T*#0H-"@T*#0H\:'(@<VEZ93TS
M1#$@;F]S:&%D93TS1&YO<VAA9&4@86QI9VX],T1L969T('-T>6QE/3-$)W=I
M9'1H.B`Q,"4[(&-O;&]R.B!B;&%C:R<@+SX-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Q*28C
M,38P.R8C,38P.R8C,38P.R8C,38P.R8C,38P.R8C,38P.TEN8VQU9&5D#0II
M;B!O=&AE<B!L:6%B:6QI=&EE<R!I;B!T:&4@8V]N<V]L:61A=&5D(&)A;&%N
M8V4@<VAE971S+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#LF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&AE(&9O;&QO=VEN9PT*=&%B;&4@
M<W5M;6%R:7IE<R!F86ER('9A;'5E(&UE87-U<F5M96YT<R!B>2!L979E;"!A
M="!$96-E;6)E<B`S,2P@,C`Q,"`H:6X@=&AO=7-A;F1S*3H\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN
M9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@=VED=&@Z(#$P,"4G/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`Q+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ
M(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQE=F5L
M#0H@("`@,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O
M;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L
M9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[
M('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/DQE=F5L#0H@("`@,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R
M87`],T1N;W=R87`@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU
M<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT
M+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@9F]N="UW
M96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/DQE=F5L#0H@("`@,SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS
M<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1O=&%L/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\
M=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M9&5C;W)A=&EO
M;CH@=6YD97)L:6YE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M07-S971S.CPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O
M;'-P86X],T0R/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,CX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@-#0E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M0V]M;6]D:71Y(&-O;G1R86-T<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[(&)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3$E
M.R!B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U
M,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q,24[(&)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED
M.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,34Q.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG
M+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$E.R!B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#$Q)3L@8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,24[('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,24[(&)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O
M;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3$E.R!B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q
M)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#-P=#L@=&5X="UI;F1E;G0Z(#EP="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/E1O=&%L($%S<V5T<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D
M;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T
M(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O
M;&]R.B!W:&ET92<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^
M#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6EN
M9&5N=#H@+3%I;B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQI
M86)I;&ET:65S.CPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-O;G9E<G1I
M8FQE(&YO=&5S/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,S@L,3`X/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXS."PQ,#@\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^,C`Q,"!787)R86YT<R@Q*3PO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4L-S$X/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4L-S$X/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O
M=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY#;VUM;V1I='D@8V]N=')A8W1S*#$I/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ-3PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U
M,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@
M<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N
M-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$U/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L
M:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T.R!T97AT+6EN9&5N
M=#H@.7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&]T86P@
M3&EA8FEL:71I97,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C$U/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L
M93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U
M8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R
M+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/C0S+#@R-CPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-#,L.#0Q/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H-"CQH<B!S:7IE
M/3-$,2!N;W-H861E/3-$;F]S:&%D92!A;&EG;CTS1&QE9G0@<W1Y;&4],T0G
M=VED=&@Z(#$P)3L@8V]L;W(Z(&)L86-K)R`O/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#$I
M)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[)B,Q-C`[26YC;'5D960-
M"FEN(&]T:&5R(&QI86)I;&ET:65S(&EN('1H92!C;VYS;VQI9&%T960@8F%L
M86YC92!S:&5E=',N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY&
M;W(@9F%I<@T*=F%L=64@;65A<W5R96UE;G1S('5S:6YG('-I9VYI9FEC86YT
M('5N;V)S97)V86)L92!I;G!U=',@*$QE=F5L(#,I+"!A(&1E<V-R:7!T:6]N
M(&]F('1H92!I;G!U=',@86YD('1H92!I;F9O<FUA=&EO;B!U<V5D('1O(&1E
M=F5L;W`-"G1H92!I;G!U=',@:7,@<F5Q=6ER960@86QO;F<@=VET:"!A(')E
M8V]N8VEL:6%T:6]N(&]F($QE=F5L(#,@=F%L=65S(&9R;VT@=&AE('!R:6]R
M(')E<&]R=&EN9R!P97)I;V0N(%1H92!C:&%N9V5S(&EN('1H92!#;VUP86YY
M)B,Q-#8[<PT*9F%I<B!V86QU92!O9B!I=',@3&5V96P@,R!I;G!U=',@=V5R
M92!A<R!F;VQL;W=S("AI;B!T:&]U<V%N9',I.CPO9F]N=#X\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P
M/@T*#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O
M;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0V]N=F5R=&EB;&4-
M"B`@("!.;W1E<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H
M=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O
M;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`Q,`T*("`@(%=A
M<G)A;G1S/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B
M;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A
M;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L
M:60[(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,#$Q#0H@("`@5V%R<F%N
M=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$
M,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@
M9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DEN=&5R97-T#0H@("`@4F%T92!3
M=V%P<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L
M9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@-#0E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^0F%L86YC92P@1&5C96UB97(@,S$L(#(P,#D\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$Q)3L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3$E.R!T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G
M=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W=I9'1H.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=W:61T:#H@,24G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$Q)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXH,BPX-S4\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M("-%145%144G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^27-S=6%N8V4@;V8@8V]N=F5R=&EB;&4@;F]T97,@86YD('=A<G)A
M;G1S/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C,W+#0W-#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXW+#0T-3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U
M,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO
M=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@
M8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY'86EN(')E8V]G;FEZ960@
M:6X@8F%N:W)U<'1C>2!E>&ET/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C$L-C(X/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V
M97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%
M145%)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/D%D:G5S=&UE;G1S('1O(&9A:7(@=F%L=64@9F]R('1H92!P97)I;V0\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C8S-#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXH,2PW,C<\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R
M87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#(T-SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY"86QA;F-E
M+"!$96-E;6)E<B`S,2P@,C`Q,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B
M;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^,S@L,3`X/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O
M=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXU+#<Q.#PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.R8C,34Q.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY)<W-U86YC92!O9B`R,#$Q(%=A<G)A;G1S/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N
M;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,2PX,#D\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY297!A>6UE;G1S(&]F(&-O;G9E<G1I
M8FQE(&YO=&5S/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@S-2PP,#`\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D5X97)C:7-E<R!O
M9B`R,#$P(%=A<G)A;G1S/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH
M,2PQ-34\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,34Q.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D%D:G5S=&UE
M;G1S('1O(&9A:7(@=F%L=64@9F]R('1H92!P97)I;V0\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@S+#$P.#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#0L,S,W/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXI/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXH,3$T/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@
M8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY"86QA;F-E+"!$96-E;6)E<B`S,2P@
M,C`Q,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3$[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXR,C8\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@
M9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C$L-CDU/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T
M(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^4F5C;VYC:6QI871I;VX-"F]F
M($EM<&%C="!T;R!3=&%T96UE;G1S(&]F($]P97)A=&EO;G,\+W4^/"]I/B`F
M(S$U,#L@5&AE(&9O;&QO=VEN9R!R96-O;F-I;&EA=&EO;B!S=6UM87)I>F5S
M('1H92!I;FET:6%L(&%M;W5N=',@<F5C;V=N:7IE9"!F;W(-"G1H92!I<W-U
M86YC92!O9B!T:&4@8V]N=F5R=&EB;&4@;F]T97,L(#(P,3`@5V%R<F%N=',@
M86YD(#(P,3$@5V%R<F%N=',@86YD('-U8G-E<75E;G0@86UO=6YT<R!T:&%T
M(&%R92!R96-O<F1E9"!I;B!T:&4@<W1A=&5M96YT<PT*;V8@;W!E<F%T:6]N
M<R!A<R!F86ER('9A;'5E(&%D:G5S=&UE;G1S("AI;B!T:&]U<V%N9',I.CPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E
M;&QP861D:6YG/3-$,"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&-O;'-P86X],T0V('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X
M="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^0F%L86YC90T*("`@(%-H965T/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO
M=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[
M(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L
M:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY3
M=&%T96UE;G1S#0H@("`@;V8@3W!E<F%T:6]N<SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$
M,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&(^0V]N=F5R=&EB;&4\
M+V(^/"]F;VYT/CPO<#X-"B`@("`@("`@/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^/&(^3F]T97,\+V(^/"]F;VYT/CPO<#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@
M9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`Q+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI
M9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E=A
M<G)A;G1S/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B
M;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9#L@
M=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!C96YT97(G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\8CY&86ER#0H@("`@("`@
M(%9A;'5E/"]B/CPO9F]N=#X\+W`^#0H@("`@("`@(#QP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/CQB/D=A:6X-"B`@("`@("`@*$QO<W,I/"]B/CPO
M9F]N=#X\+W`^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`U."4G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY)<W-U86YC92!O9B`D,S4N
M,"!M:6QL:6]N(&]N($]C=&]B97(@-BP@,C`Q,#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3$E.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C,W+#0W-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-RPT-#4\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I
M9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,3$E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B@Y+#DQ.3PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^5W)I=&4M;V9F(&]F(&ES<W5A;F-E(&-O<W1S/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N
M;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#(L.3$P/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY!9&IU<W1M96YT<R!T;R!F86ER('9A;'5E(&9O<B!T:&4@
M<&5R:6]D/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXV
M,S0\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@
M<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^*#$L-S(W/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#`Y,SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!<R!O9B!A;F0@9F]R
M('EE87(@96YD:6YG($1E8V5M8F5R(#,Q+"`R,#$P/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O
M=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXS."PQ,#@\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4L-S$X/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,3$L
M-S,V/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%
M145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY)<W-U86YC92!O9B`R,#$Q(%=A<G)A;G1S/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,34Q.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXQ+#@P.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E
M)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E)E
M<&%Y;65N=',@;V8@8V]N=F5R=&EB;&4@;F]T97,\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^*#,U+#`P,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%
M12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY%
M>&5R8VES97,@;V8@,C`Q,"!787)R86YT<SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^*#$L,34U/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D%D:G5S=&UE
M;G1S('1O(&9A:7(@=F%L=64@9F]R('1H92!P97)I;V0\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@S+#$P.#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#0L-#4Q/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXI/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXH-RPU-3D\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T
M>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L
M;W(Z("-%145%144G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^07,@;V8@86YD(&9O<B!Y96%R(&5N9&EN9R!$96-E;6)E<B`S
M,2P@,C`Q,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L
M93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXQ+#DR,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B
M;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N
M,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^*#<L-34Y/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D
M/CPO='(^#0H\+W1A8FQE/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM
M+3U?3F5X=%!A<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC
M.30Q#0I#;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E
M,F1?-&,U.5\Y.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T,34N
M:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT
M86)L90T*0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S
M8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I
M=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E
M=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS
M1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C
M<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E
M<&]R="!I9#TS1$E$,$5,13X-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&P@8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SXY+B!%
M05).24Y'4R!015(@4TA!4D4\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@
M/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^.2!-;VYT:',@16YD960\+W1H
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S
M/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^/'-T<F]N9SY%87)N:6YG<R!097(@4VAA<F4@6T%B<W1R
M86-T73PO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#Y.;W1E(#D@+D5!4DY)3D=3(%!%4B!32$%213PO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'`@<W1Y;&4],T0G;6%R9VEN.B`P<'0G/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P(#`@,"`P+C(U:6X[('1E>'0M:6YD96YT
M.B`M,"XR-6EN)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M5&AE(&9O;&QO=VEN9PT*=&%B;&5S(&-O;7!U=&4@8F%S:6,@86YD(&1I;'5T
M960@96%R;FEN9W,@<&5R('-H87)E("AI;B!T:&]U<V%N9',L(&5X8V5P="!P
M97(@<VAA<F4@9&%T82DZ/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QP
M861D:6YG/3-$,"!C96QL<W!A8VEN9STS1#`@<W1Y;&4],T0G8F]R9&5R+6-O
M;&QA<'-E.B!C;VQL87!S93L@=VED=&@Z(#$P,"4[(&9O;G0M<VEZ93H@,3!P
M="<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&-O;'-P86X],T0Q,"!S='EL93TS1"=T97AT+6%L:6=N.B!C96YT97([
M(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/DYI;F4@36]N=&AS($5N9&5D#0H@("`@4V5P
M=&5M8F5R(#,P+"`R,#$R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S
M='EL93TS1"=T97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L
M86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/DQO<W,@/&)R("\^3G5M97)A=&]R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS
M<&%N/3-$,B!S='EL93TS1"=T97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB
M;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/E-H87)E<R!$96YO;6EN871O<CPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R.R!B
M;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY097(M4VAA<F4\8G(@+SX@06UO=6YT/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T
M;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@-C$E.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3F5T(&QO<W,@871T
M<FEB=71E9"!T;R!086-I9FEC($5T:&%N;VP\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#DE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B@Q,RPU-3,\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Y)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@:G5S=&EF>3L@<&%D9&EN9RUB
M;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQE
M<W,Z(%!R969E<G)E9"!S=&]C:R!D:79I9&5N9',\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Y-#D\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@;&5F=#L@=&5X="UI;F1E;G0Z("TX
M+C`U<'0[('!A9&1I;F<M;&5F=#H@."XP-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^0F%S:6,-"B`@("!A;F0@9&EL=71E9"!L;W-S('!E
M<B!S:&%R93H\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@
M<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6EN9&5N=#H@+3<N-S5P=#L@
M<&%D9&EN9RUL969T.B`W+C<U<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY,;W-S#0H@("`@879A:6QA8FQE('1O(&-O;6UO;B!S=&]C:VAO
M;&1E<G,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#(N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@
M9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B@Q-"PU,#(\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXY-BPR,#,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B
M;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,"XQ-3PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU
M<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B
M;&4@8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!S='EL93TS1"=B
M;W)D97(M8V]L;&%P<V4Z(&-O;&QA<'-E.R!W:61T:#H@,3`P)3L@9F]N="US
M:7IE.B`Q,'!T)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@8V]L<W!A;CTS1#$P('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3FEN92!-;VYT:',@16YD960-
M"B`@("!397!T96UB97(@,S`L(#(P,3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P
M86X],T0R('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O
M='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^26YC;VUE(#QB<B`O/B!.=6UE<F%T;W(\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E
M<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^4VAA<F5S($1E;F]M:6YA=&]R/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=T97AT+6%L:6=N
M.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E!E<BU3:&%R92`\8G(@+SX@
M06UO=6YT/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-C$E
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^3F5T(&EN8V]M92!A='1R:6)U=&5D('1O(%!A8VEF:6,@171H
M86YO;#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@.24[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-2PQ
M,C`\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`R)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE
M.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@.24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU<W1I9GD[('!A9&1I;F<M
M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY,
M97-S.B!0<F5F97)R960@<W1O8VL@9&EV:61E;F1S/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED
M.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH.30V/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXI/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T
M.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M:6YD96YT.B`M."XP-7!T.R!P
M861D:6YG+6QE9G0Z(#@N,#5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/D)A<VEC(&EN8V]M92!P97(@<VAA<F4Z/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@:G5S=&EF>3L@
M<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^26YC;VUE(&%V86EL86)L92!T;R!C;VUM;VX@<W1O8VMH;VQD
M97)S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O
M=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXT+#$W-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N
M-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,C$L,C,P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U
M8FQE.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,"XR,#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU
M<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!J=7-T:69Y.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^061D.B!3=&]C:R!O<'1I;VYS
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$U,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^.3@\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P
M=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)V9O
M;G0M=V5I9VAT.B!B;VQD.R!T97AT+6EN9&5N=#H@+3@N,#5P=#L@<&%D9&EN
M9RUL969T.B`X+C`U<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY$:6QU=&5D(&EN8V]M92!P97(-"B`@("!S:&%R93H\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!P
M861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M:6YD96YT.B`M-RXW-7!T.R!P
M861D:6YG+6QE9G0Z(#<N-S5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/DEN8V]M90T*("`@(&%V86EL86)L92!T;R!C;VUM;VX@<W1O8VMH
M;VQD97)S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T
M(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXT+#$W-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K
M(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,C$L,S(X/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@
M9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B
M;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,"XR,#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H97)E('=E<F4@86X-
M"F%G9W)E9V%T92!O9B`S+#,P,"PP,#`@<&]T96YT:6%L;'D@9&EL=71I=F4@
M=V5I9VAT960M879E<F%G92!S:&%R97,@9G)O;2!C;VYV97)T:6)L92!S96-U
M<FET:65S(&]U='-T86YD:6YG(&9O<@T*=&AE(&YI;F4@;6]N=&AS(&5N9&5D
M(%-E<'1E;6)E<B`S,"P@,C`Q,BX@5&AE<V4@8V]N=F5R=&EB;&4@<V5C=7)I
M=&EE<R!W97)E(&YO="!C;VYS:61E<F5D(&EN(&-A;&-U;&%T:6YG#0ID:6QU
M=&5D(&YE="!L;W-S('!E<B!S:&%R92!F;W(@=&AE('1H<F5E(&%N9"!N:6YE
M(&UO;G1H<R!E;F1E9"!397!T96UB97(@,S`L(#(P,3(L(&%S('1H96ER(&5F
M9F5C="!W;W5L9"!H879E(&)E96X@86YT:2UD:6QU=&EV92X\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T.R!B86-K9W)O=6YD+6-O
M;&]R.B!W:&ET92<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*#0H-"CQP('-T>6QE
M/3-$)VUA<F=I;CH@,'!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO<#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM
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M<RUA<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M
M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H
M87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S
M<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO
M/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,]
M,T1R97!O<G0@:60],T1)1#!%4D<^#0H@("`@("`\='(^#0H@("`@("`@(#QT
M:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^
M,3`N(%)%3$%4140@4$%25%D@5%)!3E-!0U1)3TY3/&)R/CPO<W1R;VYG/CPO
M=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/CD@36]N
M=&AS($5N9&5D/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A
M;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@,S`L(#(P,3(\
M8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q
M,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N
M9SY296QA=&5D(%!A<G1Y(%1R86YS86-T:6]N<R!;06)S=')A8W1=/"]S=')O
M;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/C$P+B!214Q!
M5$5$(%!!4E19(%1204Y304-424].4SPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SX\:3X\=3Y0<F5F97)R960-"D1I=FED96YD<SPO=3X\+VD^("8C,34P.R!4
M:&4@0V]M<&%N>2!A8V-R=65D(&%N9"!P86ED(&-A<V@@9&EV:61E;F1S(&EN
M(')E<W!E8W0@;V8@:71S(%-E<FEE<R!"(%!R969E<G)E9"!3=&]C:R!O9B`D
M.30Y+#`P,"!F;W(-"G1H92!N:6YE(&UO;G1H<R!E;F1E9"!397!T96UB97(@
M,S`L(#(P,3(L(&%N9"!A8V-R=65D(&)U="!D:60@;F]T('!A>2!C87-H(&1I
M=FED96YD<R!O9B`D.30V+#`P,"!F;W(@=&AE(&YI;F4@;6]N=&AS(&5N9&5D
M(%-E<'1E;6)E<@T*,S`L(#(P,3$N($]N($%U9W5S="`R,2P@,C`Q,BP@=&AE
M($-O;7!A;GD@96YT97)E9"!I;G1O(&%N(&%G<F5E;65N="!W:71H('1H92!3
M97)I97,@0B!0<F5F97)R960@4W1O8VL@:&]L9&5R<R!U;F1E<B!W:&EC:"!T
M:&4-"D-O;7!A;GD@:7-S=65D(#(L,S8P+#`P,"!S:&%R97,@;V8@:71S(&-O
M;6UO;B!S=&]C:R!I;B!P87EM96YT(&]F("0W,S(L,#`P(&]F('1H92!T;W1A
M;"`D-RPS,34L,#`P(&]F(&%C8W)U960@86YD('5N<&%I9"!D:79I9&5N9',-
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M)#8L-3@S+#`P,"!A;F0@)#<L,S$U+#`P,"!A<R!O9B!397!T96UB97(@,S`L
M(#(P,3(@86YD($1E8V5M8F5R(#,Q+"`R,#$Q+"!R97-P96-T:79E;'DN/"]F
M;VYT/CPO<#X-"@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/CQI/CQU/DYO=&4-"E!A>6%B;&4@=&\@4F5L871E9"!087)T>3PO
M=3X@)B,Q-3`[(#PO:3Y4:&4@0V]M<&%N>2!H860@82!N;W1E('!A>6%B;&4@
M=&\@:71S($-H:65F($5X96-U=&EV92!/9F9I8V5R('1O=&%L:6YG("0W-3`L
M,#`P(&%S(&]F#0I397!T96UB97(@,S`L(#(P,3(@86YD($1E8V5M8F5R(#,Q
M+"`R,#$Q+B!4:&ES(&YO=&4@;6%T=7)E<R!O;B!-87)C:"`S,2P@,C`Q,RX\
M+V9O;G0^/"]P/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\
M=3Y0<F5F97)R960-"D1I=FED96YD<SPO=3X\+VD^("8C,34P.R!4:&4@0V]M
M<&%N>2!H860@86-C<G5E9"!A;F0@=6YP86ED(&1I=FED96YD<R!I;B!R97-P
M96-T(&]F(&ET<R!397)I97,@0B!0<F5F97)R960@4W1O8VL@;V8@)#<L,S$U
M+#`P,`T*86YD("0V+#`U,"PP,#`@87,@;V8@1&5C96UB97(@,S$L(#(P,3$@
M86YD(#(P,3`L(')E<W!E8W1I=F5L>2X\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/DYO=&5S#0I0
M87EA8FQE('1O(%)E;&%T960@4&%R=&EE<SPO=3X\+VD^("8C,34P.R!4:&4@
M0V]M<&%N>2!H860@;F]T97,@<&%Y86)L92!T;R!I=',@0VAA:7)M86X@;V8@
M=&AE($)O87)D(&%N9"!I=',@0VAI968@17AE8W5T:79E#0I/9F9I8V5R('1O
M=&%L:6YG("0W-3`L,#`P(&%N9"`D,2PR-3`L,#`P(&%S(&]F($1E8V5M8F5R
M(#,Q+"`R,#$Q(&%N9"`R,#$P+"!R97-P96-T:79E;'DN($]N($YO=F5M8F5R
M(#,P+"`R,#$Q+"!T:&4@0V]M<&%N>2!P86ED#0HD-3`P+#`P,"!I;B!P<FEN
M8VEP86P@=6YD97(@=&AE<V4@;F]T97,N($]N($]C=&]B97(@,CDL(#(P,3`L
M('1H92!#;VUP86YY('!A:60@86QL(&%C8W)U960@:6YT97)E<W0@86YD("0W
M-3`L,#`P(&EN('!R:6YC:7!A;`T*=6YD97(@=&AE<V4@;F]T97,N($]N($YO
M=F5M8F5R(#4L(#(P,3`L('1H92!#;VUP86YY(&5N=&5R960@:6YT;R!A;65N
M9&UE;G1S('1O('1H97-E(&YO=&5S+"!E>'1E;F1I;F<@=&AE(&UA='5R:71Y
M(&1A=&4@=&\@36%R8V@-"C,Q+"`R,#$R+B!/;B!-87)C:"`W+"`R,#$R+"!T
M:&4@;6%T=7)I='D@9&%T92!W87,@9G5R=&AE<B!E>'1E;F1E9"!T;R!-87)C
M:"`S,2P@,C`Q,RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/DYO=&5S#0I087EA8FQE('1O(%)E
M;&%T960@4&%R='D\+W4^/"]I/B`F(S$U,#L@26X@3F]V96UB97(@,C`P."P@
M=&AE($-O;7!A;GD@<F5S=')U8W1U<F5D(&-E<G1A:6X@8V]N<W1R=6-T:6]N
M(')E;&%T960@;&]A;G,@;V8@)#,P+#`P,"PP,#`-"FEN('1H92!A9V=R96=A
M=&4@=VET:"!,>6QE<R!5;FET960@8GD@<&%Y:6YG(&%L;"!A8V-R=65D(&%N
M9"!U;G!A:60@:6YT97)E<W0@=&AE<F5O;B!A;F0@:7-S=6EN9R!A;B!A;65N
M9&5D(&%N9"!R97-T871E9"!P<F]M:7-S;W)Y#0IN;W1E(&EN('1H92!P<FEN
M8VEP86P@86UO=6YT(&]F("0S,"PP,#`L,#`P+B!4:&4@86UE;F1E9"!A;F0@
M<F5S=&%T960@<')O;6ES<V]R>2!N;W1E('=A<R!D=64@36%R8V@@,34L(#(P
M,#D@86YD(&%C8W)U960@:6YT97)E<W0-"F%T('1H92!0<FEM92!2871E(&]F
M(&EN=&5R97-T+"!P;'5S(#,N,#`E+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^26X@3V-T;V)E<@T*,C`P
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M+#4P,"PP,#`@86YD('=A<R!D=64@=VET:"!A8V-R=65D#0II;G1E<F5S="!O
M;B!-87)C:"`S,2P@,C`P.2X@26YT97)E<W0@86-C<G5E9"!A="!T:&4@4')I
M;64@4F%T92!O9B!I;G1E<F5S="P@<&QU<R`R+C`P)2X\+V9O;G0^/"]P/@T*
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DEN($9E
M8G)U87)Y#0HR,#`Y+"!T:&4@0V]M<&%N>2!N;W1I9FEE9"!,>6QE<R!5;FET
M960@86YD($QY;&5S($UE8VAA;FEC86P@0V\N("AC;VQL96-T:79E;'DL("8C
M,30W.TQY;&5S)B,Q-#@[*2!T:&%T(&ET('=O=6QD(&YO="!B92!A8FQE#0IT
M;R!P87D@;V9F(&ET<R!N;W1E<R!D=64@36%R8V@@,34@86YD($UA<F-H(#,Q
M+"`R,#`Y(&%N9"!A<R!A(')E<W5L="P@96YT97)E9"!I;G1O(&$@9F]R8F5A
M<F%N8V4@86=R965M96YT+B!5;F1E<B!T:&4@=&5R;7,@;V8-"G1H92!F;W)B
M96%R86YC92!A9W)E96UE;G0L($QY;&5S(&%G<F5E9"!T;R!F;W)B96%R(&9R
M;VT@97AE<F-I<VEN9R!R:6=H=',@86YD(')E;65D:65S(&%G86EN<W0@=&AE
M($-O;7!A;GD@=&AR;W5G:"!!<')I;"`S,"P@,C`P.2X-"E1H97-E(&9O<F)E
M87)A;F-E<R!W97)E(&YO="!E>'1E;F1E9"X\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DEN($UA<F-H#0HR
M,#$P+"!T:&4@0V]M<&%N>2!A;FYO=6YC960@86=R965M96YT<R!D97-I9VYE
M9"!T;R!S871I<V9Y(&ET<R!I;F1E8G1E9&YE<W,@=&\@3'EL97,N(%-O8VEU
M<R!#1R!)22P@3'1D+B`H)B,Q-#<[4V]C:75S)B,Q-#@[*0T*96YT97)E9"!I
M;G1O('!U<F-H87-E(&%G<F5E;65N=',@=VET:"!,>6QE<R!U;F1E<B!W:&EC
M:"!3;V-I=7,@=V]U;&0@<'5R8VAA<V4@8VQA:6US(&EN(')E<W!E8W0@;V8@
M=&AE($-O;7!A;GDF(S$T-CMS(&EN9&5B=&5D;F5S<PT*:6X@=')A;F-H97,@
M;V8@=7`@=&\@)#4L,#`P+#`P,"P@=VAI8V@@8VQA:6US(%-O8VEU<R!W;W5L
M9"!T:&5N('-E='1L92!I;B!E>&-H86YG92!F;W(@<VAA<F5S(&]F('1H92!#
M;VUP86YY)B,Q-#8[<R!C;VUM;VX@<W1O8VLN#0I%86-H('1R86YC:&4@=V%S
M('1O(&)E('-E='1L960@:6X@97AC:&%N9V4@9F]R('1H92!#;VUP86YY)B,Q
M-#8[<R!C;VUM;VX@<W1O8VL@=F%L=65D(&%T(&$@,C`E(&1I<V-O=6YT('1O
M('1H92!V;VQU;64@=V5I9VAT960-"F%V97)A9V4@<')I8V4@;V8@=&AE($-O
M;7!A;GDF(S$T-CMS(&-O;6UO;B!S=&]C:R!O=F5R(&$@<')E9&5T97)M:6YE
M9"!T<F%D:6YG('!E<FEO9"P@=VAI8V@@<F%N9V5D(&9R;VT@9FEV92!T;R`R
M,"!T<F%D:6YG(&1A>7,L#0II;6UE9&EA=&5L>2!F;VQL;W=I;F<@=&AE(&1A
M=&4@;VX@=VAI8V@@=&AE('-H87)E<R!W97)E(&9I<G-T(&ES<W5E9"!T;R!3
M;V-I=7,N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY5;F1E<B!T:&ES#0IA<G)A;F=E;65N="P@=&AE($-O
M;7!A;GD@:7-S=65D('-H87)E<R!T;R!3;V-I=7,@=VAI8V@@<V5T=&QE9"!O
M=71S=&%N9&EN9R!D96)T('!R979I;W5S;'D@;W=E9"!T;R!,>6QE<R!I;B!F
M;W5R('-U8V-E<W-I=F4@=')A;G-A8W1I;VYS+@T*1F]R('1H92!Y96%R(&5N
M9&5D($1E8V5M8F5R(#,Q+"`R,#$P+"!T:&4@0V]M<&%N>2!I<W-U960@86X@
M86=G<F5G871E(&]F(#,L-#0Q+#`P,"!S:&%R97,@=VET:"!A;B!A9V=R96=A
M=&4@9F%I<B!V86QU92!O9B`D,C$L,34Y+#`P,`T*:6X@97AC:&%N9V4@9F]R
M("0Q.2PP,#`L,#`P(&EN(&1E8G0@97AT:6YG=6ES:&UE;G0L(')E<W5L=&EN
M9R!I;B!A;B!A9V=R96=A=&4@;&]S<R!O9B`D,BPQ-3DL,#`P+B!4:&4@0V]M
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M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D]N($]C=&]B97(-"C8L(#(P
M,3`L('1H92!#;VUP86YY('!A:60@:6X@9G5L;"!A;&P@<F5M86EN:6YG('!R
M:6YC:7!A;"P@86-C<G5E9"!I;G1E<F5S="!A;F0@9F5E<R!O=V5D('1O($QY
M;&5S('5S:6YG('1H92!P<F]C965D<R!F<F]M('1H90T*<V%L92!O9B!I=',@
M:6YT97)E<W0@:6X@1G)O;G0@4F%N9V4@86YD('1H92!I<W-U86YC92!A;F0@
M<V%L92!O9B!T:&4@8V]N=F5R=&EB;&4@;F]T97,@86YD(#(P,3`@5V%R<F%N
M=',N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SX\:3X\=3Y#;VYS=6QT:6YG#0I!9W)E96UE;G0@)B,Q-3`[
M(%)Y86X@5'5R;F5R("8C,34P.SPO=3XF(S$V,#L\+VD^26X@3F]V96UB97(@
M,C`P.2P@=&AE($-O;7!A;GD@96YT97)E9"!I;G1O(&$@8V]N<W5L=&EN9R!A
M9W)E96UE;G0@=VET:"!2>6%N#0I7+B!4=7)N97(L('=H;R!I<R!T:&4@<V]N
M+6EN+6QA=R!O9B!T:&4@0V]M<&%N>28C,30V.W,@0VAA:7)M86X@;V8@=&AE
M($)O87)D+"!A="`D,C`L,#`P('!E<B!M;VYT:"!F;W(@8V]N<W5L=&EN9R!S
M97)V:6-E<R!R96QA=&EN9PT*=&\@=&AE($-O;7!A;GDF(S$T-CMS(')E<W1R
M=6-T=7)I;F<@969F;W)T<RX@5&AE($-O;7!A;GD@<&%I9"!-<BX@5'5R;F5R
M(&%N(&%G9W)E9V%T92!O9B`D,C,L,3`P(&9O<B!T:&4@>65A<B!E;F1E9"!$
M96-E;6)E<@T*,S$L(#(P,3`N($%S(&]F($1E8V5M8F5R(#,Q+"`R,#$P+"!T
M:&4@0V]M<&%N>2!H860@;F\@;W5T<W1A;F1I;F<@86-C;W5N=',@<&%Y86)L
M92!T;R!-<BX@5'5R;F5R+B!4:&4@0V]M<&%N>28C,30V.W,@8V]N<W5L=&EN
M9PT*<F5L871I;VYS:&EP('=I=&@@37(N(%1U<FYE<B!W87,@=&5R;6EN871E
M9"!I;B!C;VYN96-T:6]N('=I=&@@:&ES(&%P<&]I;G1M96YT('1O('1H92!#
M;VUP86YY)B,Q-#8[<R!";V%R9"!O9B!$:7)E8W1O<G,@:6X@1F5B<G5A<GD-
M"C(P,3`N($UR+B!4=7)N97(@9&ED(&YO="!S965K(')E96QE8W1I;VX@:6X@
M,C`Q,2!A;F0@:7,@;F\@;&]N9V5R(&$@;65M8F5R(&]F('1H92!#;VUP86YY
M)B,Q-#8[<R!";V%R9"!O9B!$:7)E8W1O<G,N/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y#;VYS
M=6QT:6YG#0I!9W)E96UE;G0@)B,Q-3`[($UI8VAA96P@2V%N9')I<R`F(S$U
M,#L\+W4^)B,Q-C`[/"]I/D]N($1E8V5M8F5R(#,P+"`R,#$Q+"!T:&4@0V]M
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M:&4@86=R965M96YT(&)E8V%M92!E9F9E8W1I=F4@87,@;V8@2F%N=6%R>2`Q
M+"`R,#$R+CQI/B8C,38P.SPO:3Y-<BX@2V%N9')I<R!I<R!T;R!R96-E:79E
M(&-O;7!E;G-A=&EO;B!A<R!S970@9F]R=&@-"FEN(&5A8V@@<W1A=&5M96YT
M(&]F('=O<FLN(%1H92!C=7)R96YT('-T871E;65N="!O9B!W;W)K('!R;W9I
M9&5S('1H870@37(N($MA;F1R:7,@<VAA;&P@<F5C96EV92!B:2UW965K;'D@
M<&%Y;65N=',@:6X@=&AE(&%M;W5N=`T*;V8@87!P<F]X:6UA=&5L>2`D."PU
M,#`N(%1H92!A9W)E96UE;G0@:&%S(&%N(&EN:71I86P@=&5R;2!O9B!O;F4@
M>65A<BP@86YD(&UA>2!B92!R96YE=V5D(&)Y(&UU='5A;"!A9W)E96UE;G0@
M9F]R('-U8V-E<W-I=F4-"F]N92UY96%R('1E<FUS+CPO9F]N=#X\+W`^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@
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M('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M87-C:6DB#0H-"CQH=&UL/@T*("`\
M:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$0V]N=&5N="U4>7!E(&-O
M;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R:7!T('1Y
M<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$;R!.;W0@
M4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-"B`@/&)O
M9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$240P15)'/@T*
M("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$
M,2!R;W=S<&%N/3-$,CX\<W1R;VYG/C$Q+B!354)315%514Y4($5614Y4/&)R
M/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P
M86X],T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@("`@/'1H(&-L87-S
M/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E
M<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^
M1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^/'-T<F]N9SY3=6)S97%U96YT($5V96YT/"]S=')O;F<^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DYO=&4@,3$N4U5"4T51545.
M5"!%5D5.5#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y297!A>6UE
M;G0-"F]F(%-E;FEO<B!5;G-E8W5R960@3F]T97,\+W4^/"]I/B`F(S$U,#L@
M3VX@3V-T;V)E<B`Q+"`R,#$R+"!T:&4@0V]M<&%N>2!F=6QL>2!R97!A:60@
M:6X@8V%S:"!I=',@)#$P+#`P,"PP,#`@:6X@<V5N:6]R('5N<V5C=7)E9`T*
M;F]T97,@9G)O;2!P<F]C965D<R!O9B!I=',@<'5B;&EC(&]F9F5R:6YG+"!W
M:&EC:"!C;&]S960@;VX@4V5P=&5M8F5R(#(V+"`R,#$R+CPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SX\:3X\=3Y396-O;F0-"D%M96YD960@86YD(%)E<W1A=&5D($-R961I
M="!!9W)E96UE;G0\+W4^/"]I/B`F(S$U,#L@3VX@3V-T;V)E<B`R.2P@,C`Q
M,BP@=&AE(%!L86YT($]W;F5R<R!E;G1E<F5D(&EN=&\@82!396-O;F0@06UE
M;F1E9"!A;F0-"E)E<W1A=&5D($-R961I="!!9W)E96UE;G0@*"8C,30W.U)E
M<W1A=&5D($-R961I="!!9W)E96UE;G0F(S$T.#LI('=I=&@@=&AE(&QE;F1E
M<G,@<&%R='D@=&\@=&AE(&%G<F5E;65N="X@5&AE(%)E<W1A=&5D($-R961I
M=`T*06=R965M96YT('!R;W9I9&5S(&9O<B!A(')E=F]L=FEN9R!C<F5D:70@
M9F%C:6QI='D@;V8@=7`@=&\@)#0P+#`P,"PP,#`L(&$@=&5R;2!L;V%N(&]F
M("0R-2PP,#`L,#`P("@F(S$T-SM4<F%N8VAE($$M,2!,;V%N)B,Q-#@[*0T*
M86YD(&$@=&5R;2!L;V%N(&]F("0R-BPS,#`L,#`P("@F(S$T-SM4<F%N8VAE
M($$M,B!,;V%N)B,Q-#@[*2X@56YD97(@=&AE('1E<FUS(&]F('1H92!297-T
M871E9"!#<F5D:70@06=R965M96YT+"`D,SDL-3`P+#`P,`T*;V8@=&AE(&-O
M;6)I;F5D(')E=F]L=FEN9R!L;V%N<R!A;F0@=&5R;2!L;V%N<R!H87,@82!M
M871U<FET>2!D871E(&]F($IU;F4@,C4L(#(P,3,@86YD("0U,2PX,#`L,#`P
M(&]F('1H92!C;VUB:6YE9"!R979O;'9I;F<-"FQO86YS(&%N9"!T97)M(&QO
M86YS(&AA<R!A(&UA='5R:71Y(&1A=&4@;V8@2G5N92`S,"P@,C`Q-BX\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/E1H92!0;&%N=`T*3W=N97)S(&UA>2!E;&5C="!T;R!R96-E:79E($5U
M<F]D;VQL87(@;&]A;G,@86YD+V]R(&)A<V4@<F%T92!L;V%N<RX@5&AE('!E
M<B!A;FYU;2!I;G1E<F5S="!R871E(&]N($5U<F]D;VQL87(@;&]A;G,@:7,@
M97%U86P-"G1O("AA*2!T:&4@<F%T92!O8G1A:6YE9"!B>2!D:79I9&EN9R`H
M:2D@=&AE(&]N92UM;VYT:"!,24)/4B!F;W(@=&AE(')E;&5V86YT(&EN=&5R
M97-T('!E<FEO9"`H8G5T(&EN(&YO(&5V96YT(&QE<W,@=&AA;B`T)2D@8GD-
M"BAI:2D@82!P97)C96YT86=E(&5Q=6%L('1O("@Q*2`Q,#`E(&UI;G5S("@R
M*2!T:&4@175R;V1O;&QA<B!297-E<G9E(%!E<F-E;G1A9V4@*&%S(&1E=&5R
M;6EN960@8GD@=&AE($)O87)D(&]F($=O=F5R;F]R<R!O9B!T:&4-"D9E9&5R
M86P@4F5S97)V92!3>7-T96TI(&9O<B!T:&4@<F5L979A;G0@<&5R:6]D+"!P
M;'5S("AB*2!T:&4@87!P;&EC86)L92!M87)G:6X@;V8@,3`E+B!4:&4@<&5R
M(&%N;G5M(&EN=&5R97-T(')A=&4@;VX@8F%S92!R871E#0IL;V%N<R!I<R!E
M<75A;"!T;R`H02D@=&AE(&AI9VAE<B!O9B`H>"D@=&AE($9E9&5R86P@1G5N
M9',@169F96-T:79E(%)A=&4@*&5Q=6%L('1O('1H92!W96EG:'1E9"!A=F5R
M86=E(&]F('1H92!R871E<R!O;B!O=F5R;FEG:'0-"F9E9&5R86P@9G5N9',@
M=')A;G-A8W1I;VYS('=I=&@@;65M8F5R<R!O9B!T:&4@1F5D97)A;"!297-E
M<G9E(%-Y<W1E;2D@<&QU<R`P+C4P)2P@*'DI('1H92!R871E(&]F(&EN=&5R
M97-T(&%S('!U8FQI8VQY(&%N;F]U;F-E9`T*8GD@5V5L;',@1F%R9V\@0F%N
M:R!A<R!I=',@)B,Q-#<[<')I;64@<F%T928C,30X.R!O<B`H>BD@=&AE(&]N
M92UM;VYT:"!,24)/4B!P;'5S(#$N,"4L('!L=7,@=&AE(&%P<&QI8V%B;&4@
M;6%R9VEN(&]F(#$P)2XF(S$V,#L\+V9O;G0^/"]P/@T*#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^26YT97)E<W0-"G5N9&5R
M('1H92!L;V%N<R!I<R!P87EA8FQE(&UO;G1H;'D@:6X@8V%S:"P@8G5T(&%S
M(&QO;F<@87,@;F\@9&5F875L="!O<B!E=F5N="!O9B!D969A=6QT(&AA<R!O
M8V-U<G)E9"!O<B!I<R!C;VYT:6YU:6YG+"!I;G1E<F5S=`T*<&%Y;65N=',@
M9'5E('1O(&-E<G1A:6X@;&5N9&5R<R!F;W(@86YY('!E<FEO9"!P<FEO<B!T
M;R!*=6YE(#(U+"`R,#$S+"!M87DL(&%T('1H92!O<'1I;VX@;V8@=&AE(%!L
M86YT($]W;F5R<RP@8F4@9&5F97)R960@86YD#0IA9&1E9"!T;R!T:&4@<')I
M;F-I<&%L(&)A;&%N8V4@;V8@=&AE(%1R86YC:&4@02TQ($QO86X@9'5E($IU
M;F4@,S`L(#(P,38N(%1H92!0;&%N="!/=VYE<G,@87)E(&%L<V\@<F5Q=6ER
M960@=&\@<&%Y(&%N('5N=7-E9`T*;&EN92!F964@;V8@,BXP)2!P97(@86YN
M=6T@86YD(&]T:&5R(&-U<W1O;6%R>2!F965S(&%N9"!E>'!E;G-E<R!A<W-O
M8VEA=&5D('=I=&@@=&AE(&-R961I="!F86-I;&ET>2X\+V9O;G0^/"]P/@T*
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>3L@=&5X="UI;F1E;G0Z(#!I;B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E1H90T*4&QA;G0@3W=N97)S)B,Q-#8[(&]B;&EG871I
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M=`T*=&\@86YY(&EN9&5B=&5D;F5S<R!O=V5D(&)Y('1H92!#;VUP86YY*2!A
M;F0@<F5M961I97,@:6X@9F%V;W(@;V8@=&AE(&QE;F1E<G,N(%1H92!297-T
M871E9"!#<F5D:70@06=R965M96YT(&%L<V\@8V]N=&%I;G,@<F5S=')I8W1I
M;VYS#0IO;B!T:&4@8W)E871I;VX@;W(@:6YC=7)R96YC92!O9B!A9&1I=&EO
M;F%L(&EN9&5B=&5D;F5S<R`H;W1H97(@=&AA;B!P=7)S=6%N="!T;R!T:&4@
M0W)E9&ET($%G<F5E;65N="!D97-C<FEB960@8F5L;W<I(&%N9"!O;@T*9&ES
M=')I8G5T:6]N<R!O9B!F=6YD<R!F<F]M('1H92!0;&%N="!/=VYE<G,@=&\@
M86YY(&%F9FEL:6%T97,@;V8@=&AE(%!L86YT($]W;F5R<RP@:6YC;'5D:6YG
M('1H92!#;VUP86YY+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GD[('1E>'0M:6YD96YT.B`P:6XG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J
M=7-T:69Y.R!T97AT+6EN9&5N=#H@,&EN)SX\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GD[('1E>'0M:6YD96YT
M.B`P:6XG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T.R!F;VYT+7=E
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M="!M86YA9V5M96YT(&%G<F5E;65N=`T*86UO;F<@=&AE(%!L86YT($]W;F5R
M<R!A;F0@=&AE($-O;7!A;GD@86YD(&]P97)A=&EN9R!D:7-B=7)S96UE;G1S
M('1O(&5X8V5E9"!T:&5I<B!R97-P96-T:79E(&)U9&=E=&5D(&%M;W5N=',@
M8GD@;6]R92!T:&%N(#$P)2X\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y.R!T97AT+6EN9&5N=#H@
M,&EN)SX\+W`^#0H-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W`^#0H-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GD[('1E>'0M
M:6YD96YT.B`P:6XG/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>3L@=&5X="UI;F1E;G0Z(#!I;B<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0[(&9O;G0M=V5I9VAT.B!N;W)M86PG
M/E1H90T*4&QA;G0@3W=N97)S(&AA=F4@=&AE(')I9VAT(&%T(&%N>2!T:6UE
M+"!A;F0@9G)O;2!T:6UE('1O('1I;64L(&)U="!S=6)J96-T('1O(&QI;6ET
M871I;VYS(&EM<&]S960@8GD@86X@:6YT97)C<F5D:71O<B!A9W)E96UE;G0-
M"BAD97-C<FEB960@8F5L;W<I+"!T;R!P<F5P87D@:6X@=VAO;&4@;W(@:6X@
M<&%R="!T:&4@<F5V;VQV:6YG(&QO86YS(&%N9"!4<F%N8VAE($$M,2!,;V%N
M<R`H86YD('1H92!4<F%N8VAE($$M,B!,;V%N<R!F;VQL;W=I;F<-"G1H92!P
M87EM96YT(&EN(&9U;&P@;V8@=&AE(')E=F]L=FEN9R!L;V%N<R!A;F0@5')A
M;F-H92!!+3$@3&]A;G,I+B!(;W=E=F5R+"!I;B!T:&4@979E;G0@;V8@86YY
M('!R97!A>6UE;G0@;V8@=&AE(%1R86YC:&4@02TQ#0I,;V%N<R!T:&%T(&AA
M=F4@82!M871U<FET>2!D871E(&]F($IU;F4@,S`L(#(P,38L('1H92!0;&%N
M="!/=VYE<G,@;75S="!P87D@82!P<F5M:75M(&5Q=6%L('1O('1H92!P<F5S
M96YT('9A;'5E(&]F(&%L;"!I;G1E<F5S=`T*<&%Y;65N=',@=VAI8V@@=V]U
M;&0@:&%V92!A8V-R=65D(&9R;VT@=&AE(&1A=&4@;V8@<W5C:"!P87EM96YT
M('1H<F]U9V@@2G5N92`S,"P@,C`Q-BP@8V%L8W5L871E9"!U<VEN9R!A(&1I
M<V-O=6YT(')A=&4L(&%P<&QI960-"G%U87)T97)L>2P@97%U86P@=&\@=&AE
M(%1R96%S=7)Y(%)A=&4@87,@;V8@<W5C:"!P<F5P87EM96YT(&1A=&4@<&QU
M<R`U,"!B87-I<R!P;VEN=',N(%1H92!297-T871E9"!#<F5D:70@06=R965M
M96YT(&%L<V\@<')O=FED97,-"F9O<B!M86YD871O<GD@<')E<&%Y;65N=',@
M:6X@8V]N;F5C=&EO;B!W:71H(&-E<G1A:6X@8W5S=&]M87)Y(&5V96YT<RP@
M:6YC;'5D:6YG(&%N>2!S86QE(&]F(&UA=&5R:6%L(&%S<V5T<SL@:&]W979E
M<BP@8V5R=&%I;@T*;6%N9&%T;W)Y('!R97!A>6UE;G1S(&%R92!N;W0@<W5B
M:F5C="!T;R!T:&4@<')E<&%Y;65N="!P<F5M:75M+CPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GD[
M('1E>'0M:6YD96YT.B`P:6XG/CPO<#X@/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#$R<'0@,"`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^0W)E9&ET#0I!9W)E96UE;G0\
M+W4^/"]I/B`F(S$U,#L@3VX@3V-T;V)E<B`R.2P@,C`Q,BP@=&AE(%!L86YT
M($]W;F5R<R!E;G1E<F5D(&EN=&\@82!#<F5D:70@06=R965M96YT("@F(S$T
M-SM#<F5D:70@06=R965M96YT)B,Q-#@[*0T*=VET:"!L96YD97)S('!A<G1Y
M('1O('1H92!A9W)E96UE;G0N(%1H92!#<F5D:70@06=R965M96YT('!R;W9I
M9&5S(&9O<B!A(')E=F]L=FEN9R!C<F5D:70@9F%C:6QI='D@;V8@=7`@=&\@
M)#$P+#`P,"PP,#`N(%1H92!0;&%N=`T*;W=N97)S(&UA>2!R97%U97-T("AW
M:71H(&$@;6%X:6UU;2!O9B`U(')E<75E<W1S*2!I;F-R96%S97,@:6X@=&AE
M(&%M;W5N="!O9B!T:&4@9F%C:6QI='D@:6X@:6YC<F5M96YT<R!O9B!N;W0@
M;&5S<R!T:&%N("0Q+#`P,"PP,#`L#0IU<"!T;R!A(&UA>&EM=6T@8W)E9&ET
M(&QI;6ET(&]F("0U+#`P,"PP,#`N(%1H92!L96YD97)S(&AA=F4@;F\@;V)L
M:6=A=&EO;B!T;R!A9W)E92!T;R!S=6-H(&$@<F5Q=65S="X\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#$R<'0@,"`P.R!T97AT+6%L:6=N.B!J
M=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^169F96-T
M:79E#0IA<R!O9B!*86YU87)Y(#$Q+"`R,#$S+"!T:&4@;6%T=7)I='D@9&%T
M92!A<'!L:6-A8FQE('1O($QO86YS(&UA9&4@=6YD97(@=&AE($-R961I="!!
M9W)E96UE;G0@=V%S(&5X=&5N9&5D(&9R;VT@2G5N92`R-2P@,C`Q,PT*=&\@
M2G5N92`R-2P@,C`Q-2X@5&AE(&UA='5R:71Y(&1A=&4@87!P;&EC86)L92!T
M;R!T:&4@3&]A;G,@;6%D92!U;F1E<B!T:&4@0W)E9&ET($%G<F5E;65N="!M
M87D@8F4@97AT96YD960@=&\@2G5N92`R-2P@,C`Q-B!U<&]N#0IA<'!R;W9A
M;"!O9B!L96YD97)S(&AO;&1I;F<@:6X@97AC97-S(&]F(#4P)2!O9B!T:&4@
M;W5T<W1A;F1I;F<@<')I;F-I<&%L(&%M;W5N="!O9B!T:&4@;&]A;G,@86YD
M('1H92!U;F1I<V)U<G-E9"!A;6]U;G0@;V8@=&AE#0IA9V=R96=A=&4@;&5N
M9&EN9R!C;VUM:71M96YT+CPO9F]N=#X\+W`^#0H-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`Q,G!T(#`@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!0;&%N=`T*3W=N97)S(&UA>2!E
M;&5C="!T;R!R96-E:79E($5U<F]D;VQL87(@;&]A;G,@86YD+V]R(&)A<V4@
M<F%T92!L;V%N<RX@5&AE('!E<B!A;FYU;2!I;G1E<F5S="!R871E(&]N($5U
M<F]D;VQL87(@;&]A;G,@:7,@97%U86P-"G1O("AA*2!T:&4@<F%T92!O8G1A
M:6YE9"!B>2!D:79I9&EN9R`H:2D@=&AE(&]N92UM;VYT:"!,24)/4B!F;W(@
M=&AE(')E;&5V86YT(&EN=&5R97-T('!E<FEO9"`H8G5T(&EN(&YO(&5V96YT
M(&QE<W,@=&AA;B`T)2D@8GD-"BAI:2D@82!P97)C96YT86=E(&5Q=6%L('1O
M("@Q*2`Q,#`E(&UI;G5S("@R*2!T:&4@175R;V1O;&QA<B!297-E<G9E(%!E
M<F-E;G1A9V4@*&%S(&1E=&5R;6EN960@8GD@=&AE($)O87)D(&]F($=O=F5R
M;F]R<R!O9B!T:&4-"D9E9&5R86P@4F5S97)V92!3>7-T96TI(&9O<B!T:&4@
M<F5L979A;G0@<&5R:6]D+"!P;'5S("AB*2!T:&4@87!P;&EC86)L92!M87)G
M:6XN(%1H92!P97(@86YN=6T@:6YT97)E<W0@<F%T92!O;B!B87-E(')A=&4@
M;&]A;G,-"FES(&5Q=6%L('1O("A!*2!T:&4@:&EG:&5R(&]F("AX*2!T:&4@
M1F5D97)A;"!&=6YD<R!%9F9E8W1I=F4@4F%T92`H97%U86P@=&\@=&AE('=E
M:6=H=&5D(&%V97)A9V4@;V8@=&AE(')A=&5S(&]N(&]V97)N:6=H="!F961E
M<F%L#0IF=6YD<R!T<F%N<V%C=&EO;G,@=VET:"!M96UB97)S(&]F('1H92!&
M961E<F%L(%)E<V5R=F4@4WES=&5M*2P@<&QU<R`P+C4P)2P@*'DI('1H92!R
M871E(&]F(&EN=&5R97-T(&%S('!U8FQI8VQY(&%N;F]U;F-E9"!B>0T*5V5L
M;',@1F%R9V\@0F%N:R!A<R!I=',@)B,Q-#<[<')I;64@<F%T928C,30X.R!O
M<B`H>BD@=&AE(&]N92UM;VYT:"!,24)/4B!P;'5S(#$N,"4L('!L=7,@=&AE
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M:6-H(&EN=&5R97-T(&ES('-O#0IP86ED+CPO9F]N=#X\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,3)P="`P(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY);G1E<F5S=`T*=6YD97(@
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M=6ER960@=&\@<&%Y(&%N('5N=7-E9"!L:6YE(&9E92!O9B`R+C`E('!E<B!A
M;FYU;2!A;F0@;W1H97(@8W5S=&]M87)Y#0IF965S(&%N9"!E>'!E;G-E<R!A
M<W-O8VEA=&5D('=I=&@@=&AE(&-R961I="!F86-I;&ET>2X\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#$R<'0@,"`P.R!T97AT+6%L:6=N.B!J
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M871E<R!O9B!T:&4@4&QA;G0@3W=N97)S+`T*:6YC;'5D:6YG('1H92!#;VUP
M86YY/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`Q,G!T(#`@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/E1H92!#<F5D:70-"D%G<F5E;65N="!A;'-O(&-O;G1A:6YS(&9I
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M(')E<W!E8W1I=F4@8G5D9V5T960@86UO=6YT<R!B>2!M;W)E('1H86X@,3`E
M+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,3)P="`P(#`[('1E
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M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#$R<'0@,"`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^26YT97)C
M<F5D:71O<@T*06=R965M96YT/"]U/CPO:3X@)B,Q-3`[($]N($]C=&]B97(@
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M=7)E9"!B>2!A('-E8V]N9`T*<')I;W)I='D@;&EE;B!O;BP@86YD('-E8W5R
M:71Y(&EN=&5R97-T<R!I;BP@=&AE(&-O;&QA=&5R86P@=6YD97(@=&AE(%)E
M<W1A=&5D($-R961I="!!9W)E96UE;G0L(&%N9"`H:6DI('-U8FIE8W0@=&\@
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M92!#<F5D:70@06=R965M96YT+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,3)P="`P(#`[('1E>'0M:6YD96YT.B`P:6X[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\
M=3Y$96)T+`T*5V%R<F%N="!A;F0@4$4@2&]L9&-O($EN=&5R97-T($%C<75I
M<VET:6]N<SPO=3X@)B,Q-3`[(#PO:3Y/;B!$96-E;6)E<B8C,38P.S$Y+"`R
M,#$R+"!T:&4@0V]M<&%N>2!E;G1E<F5D(&EN=&\@82!396-U<FET:65S(%!U
M<F-H87-E#0I!9W)E96UE;G0@*'1H92`F(S$T-SM0=7)C:&%S92!!9W)E96UE
M;G0F(S$T.#LI('=I=&@@-2!A8V-R961I=&5D(&EN=F5S=&]R<R`H=&AE("8C
M,30W.TEN=F5S=&]R<R8C,30X.RDN(%5N9&5R('1H92!T97)M<R!O9@T*=&AE
M(%!U<F-H87-E($%G<F5E;65N="P@=&AE($-O;7!A;GD@86=R965D('1O('-E
M;&P@)#(R+#$Y,BPT.3$@:6X@86=G<F5G871E('!R:6YC:7!A;"!A;6]U;G0@
M;V8@:71S('-E;FEO<B!U;G-E8W5R960@;F]T97,@*'1H90T*)B,Q-#<[3F]T
M97,F(S$T.#LI(&%N9"`U+7EE87(@=V%R<F%N=',@*'1H92`F(S$T-SM787)R
M86YT<R8C,30X.RD@=&\@<'5R8VAA<V4@86X@86=G<F5G871E(&]F(#(U+#8S
M,"PR.#8@<VAA<F5S(&]F('1H92!#;VUP86YY)B,Q-#8[<PT*8V]M;6]N('-T
M;V-K(&%T(&%N(&5X97)C:7-E('!R:6-E(&]F("0P+C4R('!E<B!S:&%R92P@
M=&\@=&AE($EN=F5S=&]R<R!I;B!A('!R:79A=&4@;V9F97)I;F<@9F]R(&%G
M9W)E9V%T92!G<F]S<R!P<F]C965D<R!O9B`D,C(L,3DR+#0Y,2X-"B8C,38P
M.R!4:&4@<V%L92!O9B!T:&4@3F]T97,@86YD('1H92!787)R86YT<R!T;R!T
M:&4@26YV97-T;W)S(&-L;W-E9"!O;B!*86YU87)Y(#$Q+"`R,#$S("AT:&4@
M)B,Q-#<[0VQO<VEN9R8C,30X.RDN)B,Q-C`[)B,Q-C`[26X-"F-O;FYE8W1I
M;VX@=VET:"!T:&4@<V%L92!O9B!T:&4@3F]T97,@86YD('1H92!787)R86YT
M<RP@=&AE($-O;7!A;GD@96YT97)E9"!I;G1O(&$@<F5G:7-T<F%T:6]N(')I
M9VAT<R!A9W)E96UE;G0@=VET:"!T:&4@26YV97-T;W)S#0IO;B!*86YU87)Y
M(#$Q+"`R,#$S+CPO9F]N=#X\+W`^#0H-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`Q
M,G!T(#`@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/D]F('1H90T*9W)O<W,@<')O8V5E9',L("0R,2PU
M,S@L-3DV('=A<R!U<V5D('1O('!U<F-H87-E(&9R;VT@8V5R=&%I;B!O9B!T
M:&4@26YV97-T;W)S(&%N(&%G9W)E9V%T92!P<FEN8VEP86P@86UO=6YT(&]F
M("0R,2PU,S@L-3DV(&]F#0I4<F%N8VAE($$M,B!,;V%N<R`H=&AE("8C,30W
M.T%C<75I<F5D(%!L86YT($1E8G0F(S$T.#LI(&ES<W5E9"!U;F1E<B!T:&4@
M4F5S=&%T960@0W)E9&ET($%G<F5E;65N="X@3VX@2F%N=6%R>2`Q,2P@,C`Q
M,RP@=&AE#0IM871U<FET>2!D871E(&%P<&QI8V%B;&4@=&\@=&AE($%C<75I
M<F5D(%!L86YT($1E8G0@=V%S(&5X=&5N9&5D(&9R;VT@2G5N92`S,"P@,C`Q
M,R!T;R!*=6YE(#,P+"`R,#$V+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,3)P="`P(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
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M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#$R<'0@,"`P.R!T97AT+6EN9&5N=#H@,&EN.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M5&AE#0I.;W1E<R!W97)E(&ES<W5E9"!A="!T:&4@0VQO<VEN9R!A;F0@:&%V
M92!A;B!A9V=R96=A=&4@<')I;F-I<&%L(&%M;W5N="!O9B`D,C(L,3DR+#0Y
M,2X@5&AE($YO=&5S('=I;&P@;6%T=7)E(&]N($UA<F-H(#,P+"`R,#$V#0HH
M=&AE("8C,30W.TUA='5R:71Y($1A=&4F(S$T.#LI+B!4:&4@3F]T97,@8F5A
M<B!I;G1E<F5S="!A="!T:&4@<F%T92!O9B`U)2!P97(@86YN=6TL('-U8FIE
M8W0@=&\@861J=7-T;65N="XF(S$V,#LF(S$V,#M)9B!T:&4-"F%G9W)E9V%T
M92!O=71S=&%N9&EN9R!P<FEN8VEP86P@8F%L86YC92!O9B!T:&4@3F]T97,@
M:7,@;F]T(&QE<W,@=&AA;B`D,3`L-S8Y+#(Y-R!B>2!*86YU87)Y(#$U+"`R
M,#$T+"!T:&4@:6YT97)E<W0@<F%T92!W:6QL#0II;F-R96%S92!C;VUM96YC
M:6YG(&]N($IA;G5A<GD@,34L(#(P,30@8GD@,24@<&5R(&%N;G5M(&]N(&5A
M8V@@8V%L96YD87(@2F%N=6%R>2`Q-2P@07!R:6P@,34L($IU;'D@,34@86YD
M($]C=&]B97(@,34@=6YT:6P@=&AE#0IA9V=R96=A=&4@;W5T<W1A;F1I;F<@
M<')I;F-I<&%L(&)A;&%N8V4@;V8@=&AE($YO=&5S(&ES(&QE<W,@=&AA;B`D
M,3`L-S8Y+#(Y-RX@5&AE(&EN=&5R97-T(')A=&4@=VEL;"!A;'-O(&EN8W)E
M87-E(&)Y(&%N(&%D9&ET:6]N86P-"C(E('!E<B!A;FYU;2!A8F]V92!T:&4@
M:6YT97)E<W0@<F%T92!O=&AE<G=I<V4@87!P;&EC86)L92!U<&]N('1H92!O
M8V-U<G)E;F-E+"!A;F0@9'5R:6YG('1H92!C;VYT:6YU86YC92P@;V8@86X@
M979E;G0@;V8@9&5F875L=`T*=6YT:6P@<W5C:"!E=F5N="!O9B!D969A=6QT
M(&AA<R!B965N(&-U<F5D+B!4:&4@0V]M<&%N>2!I<R!R97%U:7)E9"!T;R!P
M87D@86QL(&]U='-T86YD:6YG('!R:6YC:7!A;"!A;F0@86YY(&%C8W)U960@
M86YD('5N<&%I9`T*:6YT97)E<W0@;VX@=&AE($YO=&5S(&]N('1H92!-871U
M<FET>2!$871E+B!4:&4@0V]M<&%N>2!M87DL(&%T(&ET<R!O<'1I;VXL('!R
M97!A>2!T:&4@3F]T97,@870@86YY('1I;64@=VET:&]U="!P<F5M:75M(&]R
M('!E;F%L='DN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`Q,G!T
M(#`@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/DEF(&%T#0IA;GD@=&EM92!T:&4@0V]M<&%N>2!R96-E
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M<VEN9R`Q,#`E(&]F(&%L;"!S=6-H(&YE="!C87-H('!R;V-E961S+"!P<F]V
M:61E9"!T:&%T(&EN(&-O;FYE8W1I;VX@=VET:"!P<F]C965D<R!R96-E:79E
M9"!I;B!C;VYN96-T:6]N('=I=&@@86X@17%U:71Y($QI;FME9`T*27-S=6%N
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M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,3)P="`P(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY);G1E
M<F5S=`T*;VX@=&AE($YO=&5S(&ES('!A>6%B;&4@:6X@8V%S:"!I;B!A<G)E
M87)S(&]N('1H92`Q-3QS=7`^=&@\+W-U<#X@8V%L96YD87(@9&%Y(&]F(&5A
M8V@@;6]N=&@@8F5G:6YN:6YG(&]N($UA<F-H(#$U+"`R,#$S("AE86-H#0IA
M;B`F(S$T-SM);G1E<F5S="!087EM96YT($1A=&4F(S$T.#LI+B!3=6)J96-T
M('1O('1H92!S871I<V9A8W1I;VX@;V8@=&AE($5Q=6ET>2!#;VYD:71I;VYS
M("AA<R!D969I;F5D(&EN('1H92!.;W1E<RDL(&%T('1H90T*;W!T:6]N(&]F
M('1H92!#;VUP86YY+"!T:&4@0V]M<&%N>2!M87D@96QE8W0@=&\@<&%Y(&EN
M=&5R97-T(&1U92!A;F0@<&%Y86)L92!O;B!A;GD@26YT97)E<W0@4&%Y;65N
M="!$871E(&EN('-H87)E<R!O9B!#;VUM;VX-"E-T;V-K+"!P<F]V:61E9"!T
M:&%T('1H92!I;G1E<F5S="!R871E(&%P<&QI8V%B;&4@=&\@86YY(&]U='-T
M86YD:6YG(&%M;W5N=',@=&AA="!#;VUP86YY('!A>7,@:6X@26YT97)E<W0@
M4VAA<F5S('-H86QL(&EN8W)E87-E#0IB>2`R)2!P97(@86YN=6T@9G)O;2!T
M:&4@=&AE;B!A<'!L:6-A8FQE(&EN=&5R97-T(')A=&4@9F]R('1H92!P97)I
M;V0@9F]R('=H:6-H('-U8V@@:6YT97)E<W0@:7,@<&%I9"X@5&AE(&YU;6)E
M<B!O9B!);G1E<F5S=`T*4VAA<F5S('1O(&)E(&ES<W5E9"P@870@=&AE($-O
M;7!A;GDF(S$T-CMS(&5L96-T:6]N+"!O;B!A;GD@<&%R=&EC=6QA<B!);G1E
M<F5S="!087EM96YT($1A=&4@<VAA;&P@97%U86P@=&\@=&AE('%U;W1I96YT
M(&]F("AX*0T*=&AE(&%M;W5N="!O9B!I;G1E<F5S="!P87EA8FQE("AA<W-U
M;6EN9R!P87EM96YT(&EN($EN=&5R97-T(%-H87)E<RD@;VX@<W5C:"!);G1E
M<F5S="!087EM96YT($1A=&4@9&EV:61E9"!B>2`H>2D@=&AE('!R;V1U8W0-
M"F]F("AI*2!T:&4@=V5I9VAT960@879E<F%G92!P<FEC92!O9B!T:&4@0V]M
M;6]N(%-T;V-K(&9O<B`S,"!T<F%D:6YG(&1A>7,@:6UM961I871E;'D@<')E
M8V5D:6YG("AB=70@97AC;'5D:6YG*2!T:&4@26YT97)E<W0@4&%Y;65N=`T*
M1&%T92!A;F0@*&EI*2`P+CDU+B!)9B!T:&4@0V]M<&%N>2!C86YN;W0@;6%K
M92!A;B!I;G1E<F5S="!P87EM96YT(&EN('-H87)E<R!O9B!#;VUM;VX@4W1O
M8VL@8F5C875S92!O;F4@;V8@=&AE(&-O;F1I=&EO;G,@9&5S8W)I8F5D#0IA
M8F]V92!I<R!N;W0@<V%T:7-F:65D+"!T:&4@0V]M<&%N>2!M=7-T(&UA:V4@
M<W5C:"!P87EM96YT(&EN(&-A<V@N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`Q,7!T(#`@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/E!R969E<G)E9`T*1&EV
M:61E;F1S/"]U/B`F(S$U,#L\+VD^3VX@1&5C96UB97(@,C8L(#(P,3(L('1H
M92!#;VUP86YY(&5N=&5R960@:6YT;R!A;B!A9W)E96UE;G0@=VET:"!T:&4@
M4V5R:65S($(@4')E9F5R<F5D(%-T;V-K(&AO;&1E<G,-"G5N9&5R('=H:6-H
M('1H92!#;VUP86YY(&ES<W5E9"!A<'!R;WAI;6%T96QY(#(L,38Y+#`P,"!S
M:&%R97,@;V8@:71S(&-O;6UO;B!S=&]C:R!I;B!P87EM96YT(&]F("0W,S(L
M,#`P(&]F('1H92!T;W1A;"`D-BPU.#,L,#`P#0IO9B!A8V-R=65D(&%N9"!U
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M2G5N92`S,"P@,C`Q-"X-"E1H92!#;VUP86YY(&AA9"!A8V-R=65D(&%N9"!U
M;G!A:60@9&EV:61E;F1S(&EN(')E<W!E8W0@;V8@:71S(%-E<FEE<R!"(%!R
M969E<G)E9"!3=&]C:R!O9B`D-2PX-3$L,#`P(&%S(&]F($1E8V5M8F5R(#,Q
M+"`R,#$R+CPO9F]N=#X\+W`^#0H-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`Q,G!T
M(#`@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/E)E
M;&%T960@4&%R='D@3F]T92`F(S$U,#L-"CPO=3X\+VD^3VX@1F5B<G5A<GD@
M-RP@,C`Q,RP@=&AE($-O;7!A;GD@96YT97)E9"!I;G1O(&%N(&%M96YD;65N
M="!T;R!T:&4@<')O;6ES<V]R>2!N;W1E(&]F("0W-3`L,#`P+"!W:71H('1H
M92!#;VUP86YY)B,Q-#8[<PT*0VAI968@17AE8W5T:79E($]F9FEC97(L(&9U
M<G1H97(@97AT96YD:6YG(&ET<R!M871U<FET>2!D871E(&9R;VT@36%R8V@@
M,S$L(#(P,3,@=&\@36%R8V@@,S$L(#(P,30N/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`Q,G!T(#`@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/CQI/CQU/E-T;V-K($EN8V5N=&EV92!0;&%N#0HM/"]U/CPO
M:3X@3VX@1&5C96UB97(@,3,L(#(P,3(L('5P;VX@87!P<F]V86P@8GD@=&AE
M($-O;7!A;GDF(S$T-CMS('-T;V-K:&]L9&5R<RP@=&AE($-O;7!A;GD@86UE
M;F1E9"!I=',@,C`P-B!3=&]C:R!);F-E;G1I=F4-"E!L86X@*'1H92`F(S$T
M-SM0;&%N)B,Q-#@[*2!T;R!I;F-R96%S92!T:&4@;G5M8F5R(&]F('-H87)E
M<R!O9B!C;VUM;VX@<W1O8VL@875T:&]R:7IE9"!F;W(@:7-S=6%N8V4@=6YD
M97(@=&AE(#(P,#8@4&QA;B!F<F]M#0HQ+#(Q-"PR.#4@<VAA<F5S('1O(#8L
M,C$T+#(X-2X@26X@2F%N=6%R>2`R,#$S+"!T:&4@0V]M<&%N>2!G<F%N=&5D
M(&%N(&%G9W)E9V%T92!O9B`R+#$V."PW,#@@<VAA<F5S(&]F(&-O;6UO;B!S
M=&]C:R!T;R!I=',@9&ER96-T;W)S#0IA;F0@96UP;&]Y965S('5N9&5R('1H
M92`R,#`V(%!L86XN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`Q
M,G!T(#`@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU
M/D-H:65F($]P97)A=&EN9R!/9F9I8V5R#0H\+W4^/"]I/BT@3VX@2F%N=6%R
M>2`V+"`R,#$S+"!T:&4@0V]M<&%N>2!E;G1E<F5D(&EN=&\@86X@97AE8W5T
M:79E(&5M<&QO>6UE;G0@86=R965M96YT('=I=&@@36EC:&%E;"!$+B!+86YD
M<FES('1H870@87!P;VEN=&5D#0I-<BX@2V%N9')I<R!A<R!T:&4@0V]M<&%N
M>28C,30V.W,@0VAI968@3W!E<F%T:6YG($]F9FEC97(N/"]F;VYT/CPO<#X-
M"@T*#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CPO<#X-"@T*#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W`^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU
M/E=A<G)A;G0-"F5X97)C:7-E<SPO=3X\+VD^("8C,34P.R!);B!&96)R=6%R
M>2`R,#$R+"!C97)T86EN(&AO;&1E<G,@;V8@=&AE(#(P,3`@5V%R<F%N=',@
M97AE<F-I<V5D('1H96ER(#(P,3`@5V%R<F%N=',@=VET:"!R97-P96-T('1O
M#0HR-3(L,3`Q('-H87)E<R!O9B!C;VUM;VX@<W1O8VL@;VX@82!C87-H;&5S
M<R!E>&5R8VES92!B87-I<RP@<F5S=6QT:6YG(&EN(#$W,BPR-CD@;F5T('-H
M87)E<R!O9B!C;VUM;VX@<W1O8VL@:7-S=65D(&)Y('1H92!#;VUP86YY+CPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^/&D^/'4^3F]T90T*<&%Y86)L92!E>'1E;G-I;VX\+W4^/"]I/B`F
M(S$U,#L@3VX@36%R8V@@-RP@,C`Q,BP@=&AE($-O;7!A;GD@97AT96YD960@
M=&AE(&UA='5R:71Y(&1A=&4@;V8@:71S(&]U='-T86YD:6YG(&YO=&4@<&%Y
M86)L92!T;PT*:71S($-H:65F($5X96-U=&EV92!/9F9I8V5R(&EN('1H92!P
M<FEN8VEP86P@86UO=6YT(&]F("0W-3`L,#`P('1O($UA<F-H(#,Q+"`R,#$S
M+B!.;R!O=&AE<B!T97)M<R!W97)E(&-H86YG960N/"]F;VYT/CPO<#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@
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M96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N
M=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP
M93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!2
M96UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D
M>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%3$4^#0H@
M("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q
M(')O=W-P86X],T0R/CQS=')O;F<^,RX@4%)/4$525%D@04Y$($5154E0345.
M5"`H1&5C(#(P,3$@;VYL>2D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@
M/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T
M:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/CQS=')O;F<^4')O<&5R='DL(%!L86YT(&%N9"!%<75I
M<&UE;G0@6T%B<W1R86-T73PO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#XS+B!04D]015)462!!3D0@15%525!-14Y4/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=M87)G:6XZ
M(#!P="`P)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4')O<&5R
M='D@86YD(&5Q=6EP;65N="!C;VYS:7-T960@;V8@=&AE(&9O;&QO=VEN9R`H
M:6X@=&AO=7-A;F1S*3H\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=M87)G
M:6XZ(#!P="`P)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QS<&%C:6YG/3-$,"!C96QL
M<&%D9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@=VED=&@Z(#$P,"4G/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X]
M,T0V('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED
M.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^1&5C96UB97(F(S$V,#LS,2P\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O
M;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,#$Q
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@
M9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O
M;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,#$P/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@-S(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^1F%C:6QI=&EE<R!A;F0@<&QA;G0@97%U:7!M96YT/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,38X+#`S-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N
M;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,38V+#(R.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS
M1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W
M:&ET92<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY,86YD/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(L-3<P/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(L-3<P/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/D]T:&5R(&5Q=6EP;65N="P@=F5H:6-L97,@86YD(&9U
M<FYI='5R93PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXT+#DQ.#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXT+#8S-3PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY#
M;VYS=')U8W1I;VX@:6X@<')O9W)E<W,\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N
M-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C,L,S(X/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO
M=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(L,S4U/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C$W."PX-3(\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,3<U+#<X.3PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!
M8V-U;75L871E9"!D97!R96-I871I;VX\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N
M-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B@Q.2PR,S4\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N
M-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@V+#@Q,SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C$U.2PV,3<\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R
M+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$V."PY-S8\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^1&5P<F5C:6%T:6]N#0IE>'!E
M;G-E+"!I;F-L=61I;F<@:61L960@9F%C:6QI=&EE<RP@=V%S("0Q,2PW,C0L
M,#`P(&%N9"`D."PU,S8L,#`P(&9O<B!T:&4@>65A<G,@96YD960@1&5C96UB
M97(@,S$L(#(P,3$@86YD(#(P,3`L(')E<W!E8W1I=F5L>2X-"D]N92!O9B!T
M:&4@4&%C:69I8R!%=&AA;F]L(%!L86YT<R!W87,@:61L960@870@1&5C96UB
M97(@,S$L(#(P,3$@86YD(#(P,3`N(%1H92!C87)R>6EN9R!V86QU97,@;V8@
M=&AI<R!F86-I;&ET>2!T;W1A;&5D("0R.2PY,C0L,#`P#0IA;F0@)#,R+#`P
M,"PP,#`@870@1&5C96UB97(@,S$L(#(P,3$@86YD(#(P,3`L(')E<W!E8W1I
M=F5L>2X@5&AE($-O;7!A;GD@8V]N=&EN=65S('1O(&1E<')E8VEA=&4@=&AE
M<V4@87-S971S+"!R97-U;'1I;F<@:6X@9&5P<F5C:6%T:6]N#0IE>'!E;G-E
M(&EN('1H92!A9V=R96=A=&4@;V8@)#(L,34U+#`P,"!A;F0@)#$L-34Y+#`P
M,"!F;W(@=&AE('EE87)S(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q(&%N9"`R
M,#$P+"!R97-P96-T:79E;'DN/"]F;VYT/CPO<#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H
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M:&%R<V5T/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-
M151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT
M+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V
M87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#
M;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B
M;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%3$4^#0H@("`@("`\='(^#0H@
M("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R
M/CQS=')O;F<^-"X@24Y404Y'24),12!!4U-%5%,@*$1E8R`R,#$Q(&]N;'DI
M/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O
M;'-P86X],T0Q/C$R($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R
M,#$Q/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R
M;VYG/D=O;V1W:6QL(&%N9"!);G1A;F=I8FQE($%S<V5T<R!$:7-C;&]S=7)E
M(%M!8G-T<F%C=%T\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^-"X@24Y404Y'24),12!!4U-%5%,\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY);G1A;F=I8FQE#0IA<W-E=',@8V]N<VES=&5D(&]F('1H92!F;VQL;W=I
M;F<@*&EN('1H;W5S86YD<RDZ/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQT86)L
M92!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I9'1H
M.B`Q,#`E)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F
M;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@
M8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^57-E9G5L/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O
M;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#$P('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG
M;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^1&5C
M96UB97(F(S$V,#LS,2P-"B`@("`R,#$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@8V]L<W!A;CTS1#$P('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X
M="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^1&5C96UB97(F(S$V,#LS,2P-"B`@("`R,#$P/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y
M;&4],T0G9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS
M1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E
M;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQI9F4\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)V9O
M;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M
M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE
M/3-$)V9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!C;VQS<&%N/3-$,B!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X
M="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^06-C=6UU;&%T960\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0R('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT
M+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY.970@0F]O:SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L
M<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B
M;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V9O;G0M=V5I
M9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY!8V-U;75L871E9#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O
M;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG
M:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/DYE="!";V]K/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9"<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O
M;2<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@
M9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`Q+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI
M9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BA9
M96%R<RD\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O
M;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N
M/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI
M9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D=R;W-S/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z
M(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B
M;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY!;6]R=&EZ871I;VX\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!B;&%C:R`Q+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M
M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/E9A;'5E/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B
M;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A
M;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L
M:60[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M
M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C
M96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!;6]R=&EZ
M871I;VX\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O
M;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N
M/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI
M9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E9A;'5E/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H
M=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DYO;BU!
M;6]R=&EZ:6YG.CPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0R/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,CX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!C;VQS<&%N/3-$,CX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS
M1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C
M;VQS<&%N/3-$,CX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B
M86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/DMI;F5R9WD@=')A9&5N86UE/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,BPV-S@\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,BPV
M-S@\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C(L-C<X/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C(L-C<X/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D
M('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^06UO<G1I>FEN9SH\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,CX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO
M=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O
M;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$X)2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-U<W1O;65R(')E;&%T
M:6]N<VAI<',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@-R4[('1E>'0M86QI9VXZ(&-E;G1E
M<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$P/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=W:61T:#H@
M,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@.24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^-"PW-#$\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Y)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXH,RPR,3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@.24[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,2PU
M,S`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXT+#<T,3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z
M(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#DE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B@R+#<S-SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y
M)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXR+#`P-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E!A8VEF:6,@
M171H86YO;"!T<F%D96YA;64\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[('1E>'0M86QI9VXZ(&-E;G1E
M<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M.#`P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B@U-3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O
M;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C(U,#PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXX,#`\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^*#$P,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@
M<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^-S`P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,W!T.R!T97AT+6EN9&5N=#H@+3`N,C5I;B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1O=&%L(&EN=&%N9VEB;&4@
M87-S971S+"!N970\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`S<'0[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXX+#(Q.3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#,L
M-S8Q/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^-"PT-3@\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@
M9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C@L,C$Y/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T
M(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,BPX,S<\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU+#,X,CPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y+:6YE<F=Y#0I4<F%D
M96YA;64\+W4^/"]I/B`F(S$U,#L@5&AE($-O;7!A;GD@<F5C;W)D960@82!T
M<F%D96YA;64@=F%L=65D(&%T("0R+#8W."PP,#`@:6X@,C`P-B!A<R!P87)T
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M<R!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,0T*86YD(#(P,3`N/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\
M:3X\=3Y#=7-T;VUE<@T*4F5L871I;VYS:&EP<SPO=3X@)B,Q-3`[/"]I/B!4
M:&4@0V]M<&%N>2!R96-O<F1E9"!C=7-T;VUE<B!R96QA=&EO;G-H:7!S('9A
M;'5E9"!A="`D-"PW-#$L,#`P(&%S('!A<G0@;V8@:71S(&%C<75I<VET:6]N
M(&]F($MI;F5R9WDN#0I4:&4@0V]M<&%N>2!H87,@97-T86)L:7-H960@82!U
M<V5F=6P@;&EF92!O9B!T96X@>65A<G,@9F]R('1H97-E(&-U<W1O;65R(')E
M;&%T:6]N<VAI<',N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y086-I9FEC#0I%=&AA;F]L(%1R
M861E;F%M93PO=3X@)B,Q-3`[/"]I/B!4:&4@0V]M<&%N>2!R96-O<F1E9"!A
M('1R861E;F%M92!V86QU960@870@)#@P,"PP,#`@87,@<&%R="!O9B!I=',@
M86-Q=6ES:71I;VX@;V8@:71S(&]W;F5R<VAI<`T*:6YT97)E<W0@:6X@3F5W
M(%!%($AO;&1C;RP@=VAI8V@@<F5L871E<R!T;R!I=',@;6%R:V5T:6YG(&%N
M9"!M86YA9V5M96YT(&%G<F5E;65N=',@=VET:"!086-I9FEC($5T:&%N;VPL
M($EN8RX@5&AE($-O;7!A;GD@:&%S#0IE<W1A8FQI<VAE9"!A('5S969U;"!L
M:69E(&]F('1W;R!Y96%R<R!F;W(@=&AI<R!I;G1A;F=I8FQE(&%S<V5T+CPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^06UO<G1I>F%T:6]N#0IE>'!E;G-E(&%S<V]C:6%T960@=VET:"!I
M;G1A;F=I8FQE(&%S<V5T<R!T;W1A;&5D("0Y,C0L,#`P(&%N9"`D-3<T+#`P
M,"!F;W(@=&AE('EE87)S(&5N9&5D($1E8V5M8F5R)B,Q-C`[,S$L(#(P,3$@
M86YD(#(P,3`L(')E<W!E8W1I=F5L>2X\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!W96EG:'1E9"UA
M=F5R86=E#0IU;F%M;W)T:7IE9"!L:69E(&]F('1H92!I;G1A;F=I8FQE(&%S
M<V5T<R!I<R`R+CD@>65A<G,N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4:&4@97AP96-T960-"F%M;W)T
M:7IA=&EO;B!E>'!E;G-E(')E;&%T:6YG('1O(&%M;W)T:7IA8FQE(&EN=&%N
M9VEB;&4@87-S971S(&EN(&5A8V@@;V8@=&AE(')E;6%I;FEN9R!F;W5R('EE
M87)S(&%F=&5R($1E8V5M8F5R(#,Q+"`R,#$Q(&%R90T**&EN('1H;W5S86YD
M<RDZ/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQT86)L92!C96QL<W!A8VEN9STS
M1#`@8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I9'1H.B`Q,#`E)SX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/EEE87)S#0H@("`@("`@($5N9&5D
M/"]F;VYT/CPO<#X-"B`@("`@("`@/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^1&5C96UB97(-"B`@("`@("`@,S$L/"]F;VYT/CPO<#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[('1E>'0M
M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA
M;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M06UO=6YT/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@-C<E.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,#$R/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)3L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@,C<E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C<R-#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`Q,SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-#<T/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^,C`Q-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^-#<T/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA
M;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXR,#$U/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA;&EG;CH@8V5N
M=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$P.#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#-P=#L@<&%D9&EN9RUL969T.B`Y<'0[('1E>'0M86QI9VXZ
M(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1O=&%L
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`S<'0[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U
M8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C$L-S@P/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T
M<CX-"CPO=&%B;&4^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].
M97AT4&%R=%\V,3,X8C(S8U\S93)D7S1C-3E?.3DR.%\Q.3DT8V0Y.&,Y-#$-
M"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-C$S.&(R,V-?,V4R9%\T
M8S4Y7SDY,CA?,3DY-&-D.3AC.30Q+U=O<FMS:&5E=',O4VAE970R,"YH=&UL
M#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE
M#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M87-C:6DB
M#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$
M0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T
M9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO
M=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T
M/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T
M(&ED/3-$240P14Q%/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,]
M,T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/C<N($%#0T]5
M3E1)3D<@1D]2($5-15)'14Y#12!&4D]-($)!3DM255!40UD@*$1E8R`R,#$Q
M(&]N;'DI/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS
M1'1H(&-O;'-P86X],T0Q/C$R($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\
M+W1R/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N
M(#,Q+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#X\<W1R;VYG/E)E;W)G86YI>F%T:6]N<R!;06)S=')A8W1=/"]S=')O;F<^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/C<N($%#0T]53E1)
M3D<@1D]2($5-15)'14Y#12!&4D]-($)!3DM255!40UD\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SX\:3X\=3Y'86EN#0IO;B!"86YK<G5P=&-Y($5X:70\+W4^/"]I/B`F
M(S$U,#L@3VX@=&AE($5F9F5C=&EV92!$871E+"!T:&4@0V]M<&%N>2!C96%S
M960@=&\@;W=N('1H92!0;&%N="!/=VYE<G,@87,@=&AE>2!E;65R9V5D(&9R
M;VT@8F%N:W)U<'1C>2X-"D%S(&$@<F5S=6QT+"!T:&4@0V]M<&%N>2!R96UO
M=F5D('1H92!R96QA=&5D(&%S<V5T<R!O9B`D,3<U+#`W,"PP,#`@86YD(&QI
M86)I;&ET:65S(&]F("0R.30L-#<X+#`P,"!F<F]M(&ET<R!C;VYS;VQI9&%T
M960@9FEN86YC:6%L#0IS=&%T96UE;G1S+"!R97-U;'1I;F<@:6X@82!N970@
M9V%I;B!O;B!B86YK<G5P=&-Y(&5X:70@;V8@)#$Q.2PT,#@L,#`P+CPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^/&D^/'4^4F5O<F=A;FEZ871I;VX-"D-O<W1S/"]U/CPO:3X@)B,Q-3`[
M($EN(&%C8V]R9&%N8V4@=VET:"!T:&4@1FEN86YC:6%L($%C8V]U;G1I;F<@
M4W1A;F1A<F1S($)O87)D)B,Q-#8[<R!!8V-O=6YT:6YG(%-T86YD87)D<R!#
M;V1I9FEC871I;VX@.#4R+`T*/&D^4F5O<F=A;FEZ871I;VYS/"]I/BP@<F5V
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M96-E;6)E<B`S,2P@,C`Q,"P@=&AE(%!L86YT($]W;F5R<R!R96-O<F1E9"!P
M<F]F97-S:6]N86P@9F5E<R!A;F0@;W1H97(@;W)G86YI>F%T:6]N86P@8V]S
M=',-"F1I<F5C=&QY(')E;&%T960@=&\@=&AE(')E;W)G86YI>F%T:6]N(&]F
M("0T+#$U,RPP,#`N/"]F;VYT/CPO<#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*
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M/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT
M='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[
M(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP
M="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT
M("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA
M<W,],T1R97!O<G0@:60],T1)1#!%3$4^#0H@("`@("`\='(^#0H@("`@("`@
M(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O
M;F<^."X@24Y#3TU%(%1!6$53("A$96,@,C`Q,2!O;FQY*3QB<CX\+W-T<F]N
M9SX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,3XQ
M,B!-;VYT:',@16YD960\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-
M"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY);F-O;64@
M5&%X($1I<V-L;W-U<F4@6T%B<W1R86-T73PO<W1R;VYG/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#XX+B!)3D-/344@5$%815,\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
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M<V5T<R!W:6QL(&)E(')E86QI>F5D+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
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M:&4@0V]M<&%N>2!H;VQD<R!A;B!O=VYE<G-H:7`-"FEN=&5R97-T+B!3=&%T
M92!T87@@<F5T=7)N<R!A<F4@9FEL960@;VX@82!C;VYS;VQI9&%T960L(&-O
M;6)I;F5D(&]R('-E<&%R871E(&)A<VES(&1E<&5N9&EN9R!O;B!T:&4@87!P
M;&EC86)L92!L87=S(')E;&%T:6YG#0IT;R!T:&4@0V]M<&%N>2!A;F0@:71S
M('-U8G-I9&EA<FEE<RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^5&AE($-O;7!A;GD-"G)E8V]R9&5D(&YO('!R;W9I
M<VEO;B!F;W(@:6YC;VUE('1A>&5S(&9O<B!T:&4@>65A<G,@96YD960@1&5C
M96UB97(@,S$L(#(P,3$@86YD(#(P,3`N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!(')E8V]N8VEL:6%T
M:6]N#0IO9B!T:&4@9&EF9F5R96YC97,@8F5T=V5E;B!T:&4@56YI=&5D(%-T
M871E<R!S=&%T=71O<GD@9F5D97)A;"!I;F-O;64@=&%X(')A=&4@86YD('1H
M92!E9F9E8W1I=F4@=&%X(')A=&4@87,@<')O=FED960@:6X@=&AE(&-O;G-O
M;&ED871E9`T*<W1A=&5M96YT<R!O9B!O<&5R871I;VYS(&ES(&%S(&9O;&QO
M=W,Z/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQT86)L92!C96QL<W!A8VEN9STS
M1#`@8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I9'1H.B`Q,#`E)SX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C
M;VQS<&%N/3-$-B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P
M="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E
M<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/EEE87)S#0H@("`@
M16YD960@1&5C96UB97(@,S$L/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O
M;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I
M9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H
M=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,C`Q,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R
M87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F
M;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG
M;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`Q
M,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#<R)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E-T871U=&]R>2!R871E/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$Q)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,S4N,"4\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,3$E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B@S-2XP)3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^4W1A=&4@:6YC;VUE('1A>&5S+"!N970@;V8@9F5D97)A;"!B96YE9FET
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B@S+CD\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXI/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B@T+CD\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXI/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E-E8W1I
M;VX@,S@R(')E9'5C=&EO;B!T;R!.3TP@8V%R<GEO=F5R/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B@S+#@R-RXY/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-H86YG92!I
M;B!V86QU871I;VX@86QL;W=A;F-E/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,L.#0Y
M+C`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^-#$N-3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY3=&]C:R!C;VUP96YS871I
M;VX\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^,38N.#PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,2XX/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI
M=&4G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY/=&AE<CPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,2XP/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C`N
M,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#-P=#L@=&5X="UI;F1E;G0Z(#`N,C5I;B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/D5F9F5C=&EV92!R871E/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L
M92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C`N,"4\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,"XP)3PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY$969E<G)E9`T*:6YC
M;VUE('1A>&5S(&%R92!P<F]V:61E9"!U<VEN9R!T:&4@87-S970@86YD(&QI
M86)I;&ET>2!M971H;V0@=&\@<F5F;&5C="!T96UP;W)A<GD@9&EF9F5R96YC
M97,@8F5T=V5E;B!T:&4@9FEN86YC:6%L('-T871E;65N=`T*8V%R<GEI;F<@
M86UO=6YT<R!A;F0@=&%X(&)A<V5S(&]F(&%S<V5T<R!A;F0@;&EA8FEL:71I
M97,@=7-I;F<@<')E<V5N=&QY(&5N86-T960@=&%X(')A=&5S(&%N9"!L87=S
M+B!4:&4@8V]M<&]N96YT<R!O9B!D969E<G)E9`T*:6YC;VUE('1A>&5S(&EN
M8VQU9&5D(&EN('1H92!C;VYS;VQI9&%T960@8F%L86YC92!S:&5E=',@=V5R
M92!A<R!F;VQL;W=S("AI;B!T:&]U<V%N9',I.CPO9F]N=#X\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P
M/@T*#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#8@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ
M(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D1E8V5M
M8F5R(#,Q+#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^,C`Q,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N
M;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@8V5N=&5R
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`Q,#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/D1E9F5R<F5D('1A>"!A<W-E=',Z/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&-O;'-P86X],T0R/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@-S(E.R!P861D:6YG+6QE9G0Z(#EP="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DYE="!O<&5R871I;F<@;&]S<R!C
M87)R>69O<G=A<F0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$Q)3L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXS,"PV.#$\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H
M.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,3$E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/C$T-"PX,30\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C
M:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6QE9G0Z(#EP="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/D-A<&ET86P@;&]S<R!C87)R>6]V97(\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^."PP
M,3,\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^-RPQ.#`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6QE9G0Z(#EP="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E-T;V-K+6)A<V5D(&-O;7!E;G-A=&EO;CPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXT,3<\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^,RPT-#8\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUL969T.B`Y<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY$97)I=F%T:79E(&EN<W1R=6UE;G1S
M(&UA<FLM=&\M;6%R:V5T/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(P,3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U
M,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6QE9G0Z(#EP="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/D-O;G9E<G1I8FQE(&YO=&5S(&%N9"!W87)R86YT<SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^-"PU,C`\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUL969T.B`Y<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY/=&AE<B!A8V-R=65D(&QI86)I;&ET
M:65S/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C$R,SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,S$\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M("-%145%144G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6QE9G0Z(#EP
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D9I>&5D(&%S<V5T
M<SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXQ-3<\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3$[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M+C5P=#L@<&%D9&EN9RUL969T.B`Y<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY/=&AE<CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L
M:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^,38W/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO
M=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O
M;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C(W.3PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@
M8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1O=&%L(&1E9F5R<F5D
M('1A>"!A<W-E=',\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,SDL-S4Y/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$V,"PT
M-S`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D1E9F5R<F5D('1A
M>"!L:6%B:6QI=&EE<SH\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@
M8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^26YV97-T;65N="!I;B!.97<@4$4@2&]L
M9&-O/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B@S+#<Y,CPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#<U-CPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%
M144G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M26YT86YG:6)L97,\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#$L-S`V/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,2PY,#$\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O
M;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D9I>&5D
M(&%S<V5T<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-3$[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N
M-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B@Q.3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^5&]T86P@9&5F97)R960@=&%X(&QI86)I
M;&ET:65S/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@U+#0Y.#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#(L.#0X/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY686QU871I;VX@86QL;W=A;F-E/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXH,S4L,S4R/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,34X+#<Q,SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM
M86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^3F5T(&1E9F5R<F5D('1A>"!L:6%B:6QI
M=&EE<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#$L,#DQ
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M*#$L,#DQ/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C
M:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^0VQA<W-I9FEE9"!I;B!B86QA;F-E('-H965T
M(&%S.CPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/D1E9F5R<F5D(&EN8V]M92!T87@@8F5N969I="`H8W5R
M<F5N="!A<W-E=',I/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@=VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY$969E
M<G)E9"!I;F-O;64@=&%X97,@*&QO;F<M=&5R;2!L:6%B:6QI='DI/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,2PP.3$\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Q
M+#`Y,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Q+#`Y,3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Q+#`Y,3PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\
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M(&5X<&5R:65N8V5D(&$@8VAA;F=E(&EN(&]W;F5R<VAI<`T*=&AA="!I;FET
M:6%T960@82!N97<@;&EM:71A=&EO;B!O;B!T:&4@0V]M<&%N>28C,30V.W,@
M86)I;&ET>2!T;R!U<V4@:71S(&YE="!O<&5R871I;F<@;&]S<V5S+B!4:&4@
M86UO=6YT(&]F('1H92!#;VUP86YY)B,Q-#8[<PT*;F5T(&]P97)A=&EN9R!L
M;W-S(&-A<G)Y9F]R=V%R9',@=&AA="!W;W5L9"!B92!S=6)J96-T('1O('1H
M97-E(&QI;6ET871I;VYS('=A<R!A<'!R;WAI;6%T96QY("0S-S`L,#DV+#`P
M,"!A="!$96-E;6)E<B`S,2P@,C`Q,2X\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D1U92!T;R!T:&4-"FYE
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M871E;'D@)#<Y+#8P-2PP,#`@86YD("0S-C8L.30X+#`P,"P@86YD('-T871E
M(&YE="!O<&5R871I;F<@;&]S<R!C87)R>69O<G=A<F1S#0IO9B!A<'!R;WAI
M;6%T96QY("0W-"PY-S<L,#`P(&%N9"`D,S8Y+#,T.2PP,#`L(&%T($1E8V5M
M8F5R(#,Q+"`R,#$Q(&%N9"`R,#$P+"!R97-P96-T:79E;'DN/"]F;VYT/CPO
M<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S
M=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4
M:&5S92!N970-"F]P97)A=&EN9R!L;W-S(&-A<G)Y9F]R=V%R9',@97AP:7)E
M(&%T('9A<FEO=7,@9&%T97,@8F5G:6YN:6YG(&EN(#(P,3(N(%1H92!D969E
M<G)E9"!T87@@87-S970@9F]R('1H92!#;VUP86YY)B,Q-#8[<R!N970@;W!E
M<F%T:6YG#0IL;W-S(&-A<G)Y9F]R=V%R9',@870@1&5C96UB97(F(S$V,#LS
M,2P@,C`Q,2!D;V5S(&YO="!I;F-L=61E("0Q+#`W-BPP,#`@=VAI8V@@<F5L
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M<&5R871I;VYS(&)U="!N;W0@=6YT:6P@=&AE('!E<FEO9`T*:6X@=VAI8V@@
M=&AE<V4@86UO=6YT<R!D96-R96%S92!T87AE<R!P87EA8FQE+CPO9F]N=#X\
M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
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M8V4@;75S="!B92!E<W1A8FQI<VAE9"!A9V%I;G-T('1H92!D969E<G)E9`T*
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M;G0N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY!('9A;'5A=&EO;@T*86QL;W=A;F-E(&AA<R!B965N(&5S
M=&%B;&ES:&5D(&EN('1H92!A;6]U;G0@;V8@)#,U+#,U,BPP,#`@86YD("0Q
M-3@L-S$S+#`P,"!A="!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"P@<F5S
M<&5C=&EV96QY+"!B87-E9`T*;VX@=&AE($-O;7!A;GDF(S$T-CMS(&%S<V5S
M<VUE;G0@;V8@=&AE(&9U='5R92!R96%L:7IA8FEL:71Y(&]F(&-E<G1A:6X@
M9&5F97)R960@=&%X(&%S<V5T<RX@1F]R('1H92!Y96%R<R!E;F1E9"!$96-E
M;6)E<B`S,2P-"C(P,3$@86YD(#(P,3`L('1H92!#;VUP86YY(')E8V]R9&5D
M(&$@9&5C<F5A<V4@:6X@=&AE('9A;'5A=&EO;B!A;&QO=V%N8V4@;V8@)#$R
M,RPS-C$L,#`P(&%N9"`D,S`L-C8Y+#`P,"P@<F5S<&5C=&EV96QY+B!4:&4@
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M+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^070@1&5C96UB97(-"C,Q+"`R,#$Q+"!T:&4@0V]M<&%N>2!H
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M870@1&5C96UB97(-"C,Q+"`R,#$Q+B!5;G)E8V]G;FEZ960@=&%X(&)E;F5F
M:71S(&%R92!N;W0@97AP96-T960@=&\@:6YC<F5A<V4@;W(@9&5C<F5A<V4@
M=VET:&EN('1H92!N97AT('1W96QV92!M;VYT:',N/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.R8C,38P.SPO
M9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
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M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QS<&%C:6YG/3-$,"!C96QL
M<&%D9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@=VED=&@Z(#$P,"4G/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!T;W`G/@T*("`@(#QT9"!S='EL93TS1"=W:61T
M:#H@-3`E.R!T97AT+61E8V]R871I;VXZ('5N9&5R;&EN93L@=&5X="UA;&EG
M;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^2G5R
M:7-D:6-T:6]N/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`U,"4[('1E>'0M9&5C;W)A=&EO;CH@=6YD97)L:6YE.R!T97AT+6%L:6=N
M.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY487@@
M665A<G,\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!T;W`G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!C
M96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N
M=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@
M=&]P.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^1F5D97)A;#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXR,#`X("8C,34P.R`R,#$P/"]F;VYT/CPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@=&]P.R!B86-K9W)O=6YD
M+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-A;&EF
M;W)N:6$\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`P
M-R`F(S$U,#L@,C`Q,#PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ('1O<#L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%
M12<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-O;&]R861O/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(P,#<@)B,Q-3`[(#(P,3`\
M+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!T;W`[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^261A:&\\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^,C`P."`F(S$U,#L@,C`Q,#PO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ('1O<#L@8F%C:V=R;W5N9"UC
M;VQO<CH@(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DYE8G)A
M<VMA/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(P,#@\
M+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!T;W`[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^3W)E9V]N/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C(P,#@@)B,Q-3`[(#(P,3`\+V9O;G0^/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!T;W`[(&)A8VMG<F]U;F0M
M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY7:7-C
M;VYS:6X\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`P
M-R`F(S$U,#L@,C`P.#PO9F]N=#X\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY(;W=E=F5R+`T*
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M;G0^/"]P/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\
M+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A
M<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT
M96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y
M.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T,C(N:'1M;`T*0V]N
M=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N
M=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\
M:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E
M;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^
M/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^
M+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE
M860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS
M1$E$,$5,13X-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@
M8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SXY+B!04D5&15)2140@
M4U1/0TL@*$1E8R`R,#$Q(&]N;'DI/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@
M("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/C$R($UO;G1H<R!%;F1E
M9#PO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@
M8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/D5Q=6ET>2!;06)S=')A8W1=/"]S
M=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CDN(%!2
M149%4E)%1"!35$]#2R`H1&5C(#(P,3$@;VYL>2D\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
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M<R!";V%R9"!O9B!$:7)E8W1O<G,N($%S(&]F($1E8V5M8F5R(#,Q+"`R,#$Q
M+"!T:&4@0V]M<&%N>2!H860@=&AE(&9O;&QO=VEN9R!D97-I9VYA=&5D#0IP
M<F5F97)R960@<W1O8VLZ/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y397)I97,-"D$@4')E9F5R
M<F5D(%-T;V-K/"]U/CPO:3X@)B,Q-3`[(%1H92!#;VUP86YY(&AA<R!A=71H
M;W)I>F5D(#$L-C@T+#,W-2!S:&%R97,@;V8@4V5R:65S($$@0W5M=6QA=&EV
M92!2961E96UA8FQE($-O;G9E<G1I8FQE(%!R969E<G)E9`T*4W1O8VL@*"8C
M,30W.U-E<FEE<R!!(%!R969E<G)E9"!3=&]C:R8C,30X.RDL('=I=&@@;F]N
M92!O=71S=&%N9&EN9R!A="!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"X@
M4VAA<F5S(&]F(%-E<FEE<R!!(%!R969E<G)E9`T*4W1O8VL@=&AA="!A<F4@
M8V]N=F5R=&5D(&EN=&\@<VAA<F5S(&]F('1H92!#;VUP86YY)B,Q-#8[<R!C
M;VUM;VX@<W1O8VL@<F5V97)T('1O('5N9&5S:6=N871E9"!S:&%R97,@;V8@
M875T:&]R:7IE9"!A;F0@=6YI<W-U960-"G!R969E<G)E9"!S=&]C:RX\+V9O
M;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
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M8V@@<VAA<F4@;V8@4V5R:65S($$@4')E9F5R<F5D(%-T;V-K+`T*<W5B:F5C
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M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
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M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/E-E<FEE<PT*0B!0<F5F
M97)R960@4W1O8VL\+W4^/"]I/B`F(S$U,#L@5&AE($-O;7!A;GD@:&%S(&%U
M=&AO<FEZ960@,2PU.#`L-SDP('-H87)E<R!O9B!397)I97,@0B!0<F5F97)R
M960@4W1O8VLL('=I=&@@.3(V+#DT,B!A;F0@,2PT-34L.3(T#0IO=71S=&%N
M9&EN9R!A="!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"P@<F5S<&5C=&EV
M96QY+B!3:&%R97,@;V8@4V5R:65S($(@4')E9F5R<F5D(%-T;V-K('1H870@
M87)E(&-O;G9E<G1E9"!I;G1O('-H87)E<R!O9@T*=&AE($-O;7!A;GDF(S$T
M-CMS(&-O;6UO;B!S=&]C:R!R979E<G0@=&\@=6YD97-I9VYA=&5D('-H87)E
M<R!O9B!A=71H;W)I>F5D(&%N9"!U;FES<W5E9"!P<F5F97)R960@<W1O8VLN
M/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
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M96%R<R!I;B!C87-H(&EN(&%N(&%M;W5N="!E<75A;"!T;R`W+C`P)2!P97(@
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M92!#;VUP86YY(&]R(&$@;65R9V5R+`T*8V]N<V]L:61A=&EO;BP@<VAA<F4@
M97AC:&%N9V4L(')E;W)G86YI>F%T:6]N(&]R(&]T:&5R('1R86YS86-T:6]N
M(&]R('-E<FEE<R!O9B!R96QA=&5D('1R86YS86-T:6]N+"!U;FQE<W,@:&]L
M9&5R<R!O9B`V-B`R+S,E#0IO9B!T:&4@4V5R:65S($(@4')E9F5R<F5D(%-T
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M.R!E<75I='D\:3XN/"]I/CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SX\:3XF(S$V,#L\+VD^/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!H;VQD97)S#0IO
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M96-T+B!4:&4@<VAA<F5S(&]F(%-E<FEE<R!"(%!R969E<G)E9`T*4W1O8VL@
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M+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
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M;W)E9V]I;F<L('1H92!H;VQD97)S(&]F(%-E<FEE<R!"(%!R969E<G)E9`T*
M4W1O8VL@87)E(&%F9F]R9&5D(&YU;65R;W5S(&-U<W1O;6%R>2!P<F]T96-T
M:79E('!R;W9I<VEO;G,@=VET:"!R97-P96-T('1O(&-E<G1A:6X@86-T:6]N
M<R!T:&%T(&UA>2!O;FQY(&)E(&%P<')O=F5D(&)Y(&AO;&1E<G,-"F]F(&$@
M;6%J;W)I='D@;V8@=&AE('-H87)E<R!O9B!397)I97,@0B!0<F5F97)R960@
M4W1O8VLN/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY);B`R,#`X+`T*=&AE($-O;7!A;GD@96YT97)E9"!I
M;G1O($QE='1E<B!!9W)E96UE;G1S('=I=&@@3'EL97,@56YI=&5D($Q,0R`H
M)B,Q-#<[3'EL97,@56YI=&5D)B,Q-#@[*2!A;F0@;W1H97(@<'5R8VAA<V5R
M<R!U;F1E<B!W:&EC:`T*=&AE($-O;7!A;GD@97AP<F5S<VQY('=A:79E9"!I
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M<V5R<RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/CQI/CQU/E)E9VES=')A=&EO;@T*4FEG:'1S($%G<F5E
M;65N=#PO=3XF(S$V,#L\+VD^)B,Q-3`[($EN(&-O;FYE8W1I;VX@=VET:"!T
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M(')E;&%T960@=V%R<F%N=',@*&-O;&QE8W1I=F5L>2P-"G1H92`F(S$T-SM2
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M('!L=7,@<F5A<V]N86)L92!F965S(&]F(&]N92!L96=A;`T*8V]U;G-E;"!F
M;W(@=&AE(&AO;&1E<G,L('=H:6-H(&9E97,@87)E(&YO="!T;R!E>&-E960@
M)#(U+#`P,"!P97(@<F5G:7-T<F%T:6]N+B!4:&4@<F5G:7-T<F%T:6]N(')I
M9VAT<R!A9W)E96UE;G0@:6YC;'5D97,@8W5S=&]M87)Y#0IR97!R97-E;G1A
M=&EO;G,@86YD('=A<G)A;G1I97,@;VX@=&AE('!A<G0@;V8@8F]T:"!T:&4@
M0V]M<&%N>2!A;F0@=&AE(&AO;&1E<G,@86YD(&]T:&5R(&-U<W1O;6%R>2!T
M97)M<R!A;F0@8V]N9&ET:6]N<RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1H92!#;VUP86YY#0IR96-O
M<F1E9"!P<F5F97)R960@<W1O8VL@9&EV:61E;F1S(&]F("0Q+#(V-2PP,#`@
M86YD("0R+#@T-RPP,#`@9F]R('1H92!Y96%R<R!E;F1E9"!$96-E;6)E<B`S
M,2P@,C`Q,2!A;F0@,C`Q,"P@<F5S<&5C=&EV96QY+@T*07,@;V8@1&5C96UB
M97(@,S$L(#(P,3$L('1H92!#;VUP86YY(&AA9"!A8V-R=65D(&%N9"!U;G!A
M:60@9&EV:61E;F1S(&]F("0W+#,Q-2PP,#`N/"]F;VYT/CPO<#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B
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M/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N
M=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS
M1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO
M=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-
M"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%3$4^#0H@("`@
M("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O
M=W-P86X],T0R/CQS=')O;F<^,3$N(%-43T-++4)!4T5$($-/35!%3E-!5$E/
M3B`H1&5C(#(P,3$@;VYL>2D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@
M/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T
M:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/CQS=')O;F<^1&ES8VQO<W5R92!O9B!#;VUP96YS871I
M;VX@4F5L871E9"!#;W-T<RP@4VAA<F4M8F%S960@4&%Y;65N=',@6T%B<W1R
M86-T73PO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#XQ,2X@4U1/0TLM0D%3140@0T]-4$5.4T%424].("A$96,@,C`Q,2!O;FQY
M*3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'`@<W1Y;&4],T0G
M;6%R9VEN.B`P<'0@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/E1H92!#;VUP86YY(&AA<R!T=V\@97%U:71Y(&EN8V5N=&EV92!C;VUP96YS
M871I;VX@<&QA;G,Z(&$@,C`P-"!3=&]C:R!/<'1I;VX-"E!L86X@86YD(&$@
M,C`P-B!3=&]C:R!);F-E;G1I=F4@4&QA;BX\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=M87)G:6XZ(#!P="`P)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/CQI/CQU/C(P,#0-"E-T;V-K($]P=&EO;B!0;&%N
M/"]U/CPO:3X@)B,Q-3`[(%1H92`R,#`T(%-T;V-K($]P=&EO;B!0;&%N(&%U
M=&AO<FEZ960@=&AE(&ES<W5A;F-E(&]F(&EN8V5N=&EV92!S=&]C:R!O<'1I
M;VYS("@F(S$T-SM)4T]S)B,Q-#@[*0T*86YD(&YO;BUQ=6%L:69I960@<W1O
M8VL@;W!T:6]N<R`H)B,Q-#<[3E%/<R8C,30X.RD@=&\@=&AE($-O;7!A;GDF
M(S$T-CMS(&]F9FEC97)S+"!D:7)E8W1O<G,@;W(@:V5Y(&5M<&QO>65E<R!O
M<B!T;R!C;VYS=6QT86YT<PT*=&AA="!D;R!B=7-I;F5S<R!W:71H('1H92!#
M;VUP86YY(&9O<B!U<"!T;R!A;B!A9V=R96=A=&4@;V8@,S4W+#$T,R!S:&%R
M97,@;V8@8V]M;6]N('-T;V-K+B!/;B!397!T96UB97(@-RP@,C`P-BP@=&AE
M($-O;7!A;GD-"G1E<FUI;F%T960@=&AE(#(P,#0@4W1O8VL@3W!T:6]N(%!L
M86XL(&5X8V5P="!T;R!T:&4@97AT96YT(&]F(&ES<W5E9"!A;F0@;W5T<W1A
M;F1I;F<@;W!T:6]N<R!T:&5N(&5X:7-T:6YG('5N9&5R('1H92!P;&%N+B!4
M:&4-"D-O;7!A;GD@:&%D(#$Q+#0R.2!S=&]C:R!O<'1I;VYS(&]U='-T86YD
M:6YG('5N9&5R(&ET<R`R,#`T(%-T;V-K($]P=&EO;B!0;&%N(&%T($1E8V5M
M8F5R)B,Q-C`[,S$L(#(P,3$@86YD(#(P,3`N/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3XR,#`V
M#0I3=&]C:R!);F-E;G1I=F4@4&QA;CPO=3X\+VD^("8C,34P.R!4:&4@,C`P
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M:6YE<W,@=VET:"!T:&4@0V]M<&%N>2!F;W(@=7`@=&\@86X@86=G<F5G871E
M(&]F(#$L,C$T+#(X-2!S:&%R97,@;V8@8V]M;6]N('-T;V-K+CPO9F]N=#X\
M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU
M<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M/&D^/'4^4W1O8VL-"D]P=&EO;G,\+W4^/"]I/B`F(S$U,#L@3VX@075G=7-T
M(#$L(#(P,3$@86YD($%U9W5S="`R-2P@,C`Q,2P@=&AE($-O;7!A;GD@9W)A
M;G1E9"!O<'1I;VYS('1O('!U<F-H87-E(&%N(&%G9W)E9V%T92!O9B`Q.3,L
M,#`P#0IA;F0@,38L,#`P('-H87)E<R!O9B!T:&4@0V]M<&%N>28C,30V.W,@
M8V]M;6]N('-T;V-K(&%T(&5X97)C:7-E('!R:6-E<R!O9B`D,"XX-B!A;F0@
M)#`N,S4@<&5R('-H87)E+"!W:&EC:"!W97)E('1H92!R97-P96-T:79E#0IC
M;&]S:6YG('!R:6-E<R!P97(@<VAA<F4@;V8@=&AE($-O;7!A;GDF(S$T-CMS
M(&-O;6UO;B!S=&]C:R!O;B!T:&4@9&%T97,@;V8@9W)A;G0L('=I=&@@97-T
M:6UA=&5D(&9A:7(@=F%L=65S(&]F("0P+C0T(&%N9"`D,"XQ."P-"G)E<W!E
M8W1I=F5L>2X@5&AE(&]P=&EO;G,@=F5S="!A<R!T;R`S,R4@;VX@07!R:6P@
M,BP@,C`Q,B!A;F0@,S,E(&]N(&5A8V@@;V8@07!R:6P@,2P@,C`Q,R!A;F0@
M07!R:6P@,2P@,C`Q-"X@5&AE(&]P=&EO;G,@97AP:7)E#0II;B`Q,"!Y96%R
M<R!F<F]M('1H92!D871E(&]F(&=R86YT+B!&86ER('9A;'5E('=A<R!D971E
M<FUI;F5D('5S:6YG('1H92!";&%C:R!38VAO;&5S($]P=&EO;B!0<FEC:6YG
M($UO9&5L+B!&;W(@=&AE($%U9W5S="`Q+`T*,C`Q,2!G<F%N=',L('1H92!I
M;G!U=',@=&\@97-T:6UA=&EN9R!F86ER('9A;'5E('=E<F4Z(&5X97)C:7-E
M('!R:6-E(&]F("0P+C@V.R!E<W1I;6%T960@;&EF92!O9B`U+C`@>65A<G,[
M(&5X<&5C=&5D('9O;&%T:6QI='D-"F]F(#4V+C<E.R!A;F0@<FES:R!F<F5E
M(&EN=&5R97-T(')A=&4@;V8@,BXU,"4N($9O<B!T:&4@075G=7-T(#(U+"`R
M,#$Q(&=R86YT<RP@=&AE(&EN<'5T<R!T;R!E<W1I;6%T:6YG(&9A:7(@=F%L
M=64@=V5R93H@97AE<F-I<V4-"G!R:6-E(&]F("0P+C,U.R!E<W1I;6%T960@
M;&EF92!O9B`U+C`@>65A<G,[(&5X<&5C=&5D('9O;&%T:6QI='D@;V8@-38N
M-R4@86YD(')I<VL@9G)E92!I;G1E<F5S="!R871E(&]F(#(N-3`E+B!4:&4@
M0V]M<&%N>2!E<W1I;6%T97,-"F5X<&5C=&5D('9O;&%T:6QI='D@=7-I;F<@
M<&5E<B!C;VUP86YI97,@=VET:&EN(&ET<R!I;F1U<W1R>2X\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E-U
M;6UA<FEE<PT*;V8@=&AE('-T871U<R!O9B!#;VUP86YY)B,Q-#8[<R!S=&]C
M:R!O<'1I;VX@<&QA;G,@87,@;V8@1&5C96UB97(@,S$L(#(P,3$@86YD(#(P
M,3`@86YD(&]F(&-H86YG97,@:6X@;W!T:6]N<R!O=71S=&%N9&EN9R!U;F1E
M<@T*=&AE($-O;7!A;GDF(S$T-CMS('!L86YS(&1U<FEN9R!T:&]S92!Y96%R
M<R!A<F4@87,@9F]L;&]W<R`H:6X@=&AO=7-A;F1S+"!E>&-E<'0@97AE<F-I
M<V4@<')I8V5S*3H\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P
M="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QS
M<&%C:6YG/3-$,"!C96QL<&%D9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@=VED=&@Z(#$P,"4G
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&-O;'-P86X],T0Q-"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`Q+C5P="!S;VQI9#L@9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI
M9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/EEE
M87)S#0H@("`@16YD960@1&5C96UB97(@,S$L/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[
M(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0V
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F
M;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C`Q,3PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0V('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L9#L@
M=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,C`Q,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H
M=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L
M9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^/&(^3G5M8F5R/"]B/CPO9F]N=#X\+W`^#0H@("`@("`@
M(#QP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQB/F]F#0H@("`@("`@
M(%-H87)E<SPO8CX\+V9O;G0^/"]P/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M
M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C
M96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY796EG:'1E
M9`T*("`@($%V97)A9V4@17AE<F-I<V4@4')I8V4\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L
M9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^/&(^3G5M8F5R/"]B/CPO9F]N=#X\+W`^#0H@("`@("`@
M(#QP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQB/F]F#0H@("`@("`@
M(%-H87)E<SPO8CX\+V9O;G0^/"]P/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M
M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,2XU<'0@<V]L:60G/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI
M9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQB
M/E=E:6=H=&5D#0H@("`@("`@($%V97)A9V4\+V(^/"]F;VYT/CPO<#X-"B`@
M("`@("`@/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@8V5N
M=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&(^17AE<F-I
M<V4-"B`@("`@("`@4')I8V4\+V(^/"]F;VYT/CPO<#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@
M8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#0T)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D]U='-T86YD:6YG(&%T(&)E9VEN
M;FEN9R!O9B!Y96%R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$Q)3L@=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ,3PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED
M=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^-3<N.#(\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^,3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3$E.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4W+C@R
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L
M+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[('!A9&1I
M;F<M;&5F=#H@.7!T.R!T97AT+6EN9&5N=#H@+3EP="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/DES<W5E9#PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^,C`Y/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO
M=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K
M(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXP+C@R/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@
M8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY/=71S=&%N9&EN9R!A="!E;F0@;V8@>65A<CPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU
M<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C(P/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXS+C<X/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXU-RXX,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B
M86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/D]P=&EO;G,@97AE<F-I<V%B;&4@870@96YD(&]F('EE87(\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,3$\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4W
M+C@R/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@
M9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O
M=6)L92<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,BXR-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXU-RXX,CPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O
M;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I
M;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY3=&]C:R!O<'1I;VYS#0IO=71S=&%N9&EN9R!A
M<R!O9B!$96-E;6)E<B8C,38P.S,Q+"`R,#$Q+"!W97)E(&%S(&9O;&QO=W,@
M*&YU;6)E<B!O9B!S:&%R97,@:6X@=&AO=7-A;F1S*3HF(S$V,#L\+V9O;G0^
M/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J
M=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D
M9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9CL@=VED=&@Z(#$P,"4G/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#$P('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!F;VYT+7=E:6=H=#H@8F]L
M9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^3W!T:6]N<PT*("`@($]U='-T86YD:6YG/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z
M(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#8@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B
M;VQD.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY/<'1I;VYS#0H@("`@17AE<F-I<V%B;&4\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT
M9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9"<^/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&(^
M4F%N9V4-"B`@("`@("`@;V8\+V(^/"]F;VYT/CPO<#X-"B`@("`@("`@/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&(^17AE<F-I<V4-"B`@("`@
M("`@4')I8V5S/"]B/CPO9F]N=#X\+W`^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N
M="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`Q+C5P="!S;VQI9"<^/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M/&(^3G5M8F5R/"]B/CPO9F]N=#X\+W`^#0H@("`@("`@(#QP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/CQB/D]U='-T86YD:6YG/"]B/CPO9F]N=#X\
M+W`^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT
M+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&(^5V5I9VAT960-"B`@("`@("`@
M079E<F%G92`\+V(^/"]F;VYT/CPO<#X-"B`@("`@("`@/'`@<W1Y;&4],T0G
M9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R
M9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^/&(^4F5M86EN:6YG#0H@("`@("`@(#PO8CX\
M+V9O;G0^/"]P/@T*("`@("`@("`\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T
M97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SX\8CY#;VYT<F%C='5A;`T*("`@("`@("!,:69E("AY<G,I/"]B/CPO
M9F]N=#X\+W`^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$
M,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&(^5V5I9VAT960-"B`@
M("`@("`@079E<F%G93PO8CX\+V9O;G0^/"]P/@T*("`@("`@("`\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\8CY%>&5R8VES90T*("`@("`@("!0
M<FEC93PO8CX\+V9O;G0^/"]P/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO
M=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0[(&9O;G0M=V5I
M9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU
M<'0@<V]L:60[(&9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT
M97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY.=6UB97(-"B`@
M("!%>&5R8VES86)L93PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT+7=E
M:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N
M-7!T('-O;&ED)SX\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N
M.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\8CY7
M96EG:'1E9`T*("`@("`@("!!=F5R86=E/"]B/CPO9F]N=#X\+W`^#0H@("`@
M("`@(#QP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E
M<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQB/D5X97)C:7-E
M#0H@("`@("`@(%!R:6-E/"]B/CPO9F]N=#X\+W`^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;2<^#0H@("`@/'1D(&-O;'-P86X],T0R/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS
M<&%N/3-$,CX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0R/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,CX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#(^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3@E.R!P
M861D:6YG+6)O='1O;3H@,2XU<'0[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,"XS-2TP+C@V/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=W:61T:#H@
M,24[('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[(&)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q,R4[(&)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C(P.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@
M,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#$S)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CDN-3D\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3,E.R!P861D
M:6YG+6)O='1O;3H@,2XU<'0[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,"XX,CPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E.R!P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#$E.R!P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P
M="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3,E.R!B
M;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$
M)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M,R4[('!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,3L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W=I9'1H
M.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O
M;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^-3<N-S4M-3@N,3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA
M8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,3$\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXS+C4W/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C4W+C@R/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$Q/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C4W+C@R/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS
M1&YO=W)A<"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^5&AE(&]P=&EO;G,-"F]U='-T86YD:6YG(&%T($1E8V5M8F5R
M(#,Q+"`R,#$Q(&%N9"`R,#$P(&AA9"!I;G1R:6YS:6,@=F%L=65S(&]F("0U
M,"PP,#`@86YD("0P+"!R97-P96-T:79E;'DN/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\:3X\=3Y297-T
M<FEC=&5D#0I3=&]C:SPO=3X\+VD^("8C,34P.R!4:&4@0V]M<&%N>2!G<F%N
M=',@=&\@8V5R=&%I;B!E;7!L;WEE97,@86YD(&1I<F5C=&]R<R!S:&%R97,@
M;V8@<F5S=')I8W1E9"!S=&]C:R!U;F1E<B!I=',@,C`P-B!3=&]C:R!);F-E
M;G1I=F4-"E!L86X@<'5R<W5A;G0@=&\@<F5S=')I8W1E9"!S=&]C:R!A9W)E
M96UE;G1S+B!!('-U;6UA<GD@;V8@=6YV97-T960@<F5S=')I8W1E9"!S=&]C
M:R!A8W1I=FET>2!I<R!A<R!F;VQL;W=S("AS:&%R97,@:6X@=&AO=7-A;F1S
M*3H\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT
M+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QS<&%C:6YG/3-$
M,"!C96QL<&%D9&EN9STS1#`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@=VED=&@Z(#$P,"4G/@T*/'1R('-T
M>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O
M;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T
M('-O;&ED)SX\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!C
M96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\8CY.=6UB
M97(-"B`@("`@("`@;V8\+V(^/"]F;VYT/CPO<#X-"B`@("`@("`@/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&(^4VAA<F5S/"]B/CPO9F]N=#X\
M+W`^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q+C5P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T.R!F;VYT
M+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/&(^5V5I9VAT960-"B`@("`@("`@
M079E<F%G93PO8CX\+V9O;G0^/"]P/@T*("`@("`@("`\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SX\8CY'<F%N=`T*("`@("`@("!$871E/"]B/CPO
M9F]N=#X\+W`^#0H@("`@("`@(#QP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E
M>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/CQB/D9A:7(-"B`@("`@("`@5F%L=64\+V(^/"]F;VYT/CPO<#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#<R)2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/E5N=F5S=&5D(&%T($1E8V5M8F5R(#,Q+"`R,#`Y
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#$Q)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXT,#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M,24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^-38N-C,\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^27-S=65D/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4X-3PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^."XT,#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY697-T960\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#$T-3PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$T+CDQ/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-A
M;F-E;&5D/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH
M,3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P=#L@=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXT-2XV-#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS
M1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C
M145%145%)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/E5N=F5S=&5D(&%T($1E8V5M8F5R(#,Q+"`R,#$P/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/C0V.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^.2XV-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^27-S=65D/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C(V-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^,"XX-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY697-T960\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^*#(U,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R
M87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C$P+C4V/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A
M<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA
M;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/D-A;F-E;&5D/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S
M;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH.3PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@
M,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CDN-S`\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SY5;G9E<W1E9"!A="!$96-E;6)E<B8C,38P
M.S,Q+"`R,#$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C0W,SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D
M;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^-"XR-SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`]
M,T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY3=&]C:RUB87-E9`T*8V]M<&5N<V%T:6]N(&5X<&5N<V4@<F5L
M871E9"!T;R!E;7!L;WEE92!A;F0@;F]N+65M<&QO>65E('-T;V-K(&=R86YT
M<R!A;F0@;W!T:6]N<R!R96-O9VYI>F5D(&EN(&EN8V]M92!W97)E(&%S(&9O
M;&QO=W,@*&EN('1H;W5S86YD<RDZ/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQT
M86)L92!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I
M9'1H.B`Q,#`E)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$-B!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@8V5N=&5R
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^665A<G,@16YD960@
M1&5C96UB97(-"B`@("`S,2P\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P
M/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(P,3$\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI
M9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(P
M,3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`W,B4G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY%;7!L;WEE97,\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#$Q)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXQ+#4R,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R
M87`],T1N;W=R87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,2PX.34\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T
M>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3F]N
M+65M<&QO>65E<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^-S4V/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N
M-7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C4W-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R
M87`],T1N;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1O=&%L('-T;V-K+6)A<V5D(&-O
M;7!E;G-A=&EO;B!E>'!E;G-E/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L92<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,BXR-7!T(&1O=6)L
M93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXR+#(W.#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,W!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N,C5P="!D;W5B
M;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#(N
M,C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^,BPT-S$\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^070@1&5C96UB97(-"C,Q+"`R,#$Q+"!T:&4@=&]T
M86P@8V]M<&5N<V%T:6]N(&-O<W0@<F5L871E9"!T;R!U;G9E<W1E9"!A=V%R
M9',@=VAI8V@@:&%D(&YO="!B965N(')E8V]G;FEZ960@=V%S("0R+#$Q,2PP
M,#`@86YD('1H92!A<W-O8VEA=&5D#0IW96EG:'1E9"UA=F5R86=E('!E<FEO
M9"!O=F5R('=H:6-H('1H92!C;VUP96YS871I;VX@8V]S="!A='1R:6)U=&%B
M;&4@=&\@=&AO<V4@=6YV97-T960@87=A<F1S('=O=6QD(&)E(')E8V]G;FEZ
M960@=V%S(#,N-30@>65A<G,N/"]F;VYT/CPO<#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H
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M:&%R<V5T/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-
M151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT
M+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V
M87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#
M;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B
M;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%3$4^#0H@("`@("`\='(^#0H@
M("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R
M/CQS=')O;F<^,34N(%!,04Y4($]73D524R!#3TY$14Y3140@0T]-0DE.140@
M1DE.04Y#24%,(%-4051%345.5%,@*$1E8R`R,#$Q(&]N;'DI/&)R/CPO<W1R
M;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q
M/C$R($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$Q/&)R/CPO
M=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/DYO=&5S
M('1O($9I;F%N8VEA;"!3=&%T96UE;G1S/"]S=')O;F<^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/C$U+B!03$%.5"!/5TY%4E,@0T].1$5.
M4T5$($-/34))3D5$($9)3D%.0TE!3"!35$%414U%3E13("A$96,@,C`Q,2!O
M;FQY*3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'`@<W1Y;&4]
M,T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@
M;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/E-I;F-E('1H90T*8V]N<V]L:61A=&5D
M(&9I;F%N8VEA;"!S=&%T96UE;G1S(&]F('1H92!#;VUP86YY(&EN8VQU9&4@
M96YT:71I97,@;W1H97(@=&AA;B!T:&4@4&QA;G0@3W=N97)S+"!B96QO=R!A
M<F4@=&AE(&-O;F1E;G-E9"!C;VUB:6YE9`T*9FEN86YC:6%L('-T871E;65N
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M87!T97(@,3$@1FEL:6YG<R!A<F4@87,@9F]L;&]W<R`H=6YA=61I=&5D+"!I
M;B!T:&]U<V%N9',I.CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SX\8CY004-)1DE##0I%5$A!3D],($A/3$1)
M3D<@0T\N($Q,0R!!3D0@4U5"4TE$24%22453/"]B/CPO9F]N=#X\+W`^#0H-
M"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E;G1E<B<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQB/D-/3D1%3E-%1`T*
M0T]-0DE.140@4U1!5$5-14Y44R!/1B!/4$52051)3TY3/"]B/CPO9F]N=#X\
M+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&-E
M;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQB/DIA;G5A
M<GD-"C$L(#(P,3`@=&\@2G5N92`R.2P@,C`Q,#PO8CX\+V9O;G0^/"]P/@T*
M#0H\=&%B;&4@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!W:61T:#H@,3`P)2<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;2<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!C;VQS<&%N/3-$,CX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#@V)2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/DYE="!S86QE<SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,3$E.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C@Y+#<S-SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`@<W1Y;&4],T0G=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS
M1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C
M145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0V]S="!O9B!G
M;V]D<R!S;VQD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXY."PQ-#`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^1W)O<W,@;&]S<SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH."PT
M,#,\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O
M=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^4V5L;&EN9RP@9V5N97)A;"!A;F0@861M:6YI<W1R871I=F4@97AP96YS
M97,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$L.#(Y
M/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M('=H:71E)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/DQO<W,@9G)O;2!O<&5R871I;VYS/"]F;VYT/CPO=&0^#0H@("`@/'1D
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Q
M,"PR,S(\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T
M<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K
M9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^3W1H97(@97AP96YS92P@;F5T/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9"<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXH,2PR-3,\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[
M(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/DQO<W,@8F5F;W)E(')E;W)G86YI>F%T
M:6]N(&-O<W1S(&%N9"!G86EN(&9R;VT@8F%N:W)U<'1C>2!E>&ET/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B@Q,2PT.#4\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W
M<F%P/3-$;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E)E;W)G86YI>F%T
M:6]N(&-O<W1S/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@T+#$U,SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H
M:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^1V%I;B!F<F]M(&)A
M;FMR=7!T8WD@97AI=#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,3$Y+#0P.#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N
M;W=R87`@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T
M<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K
M9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/DYE="!I;F-O;64\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B
M;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C$P,RPW-S`\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*
M/"]T86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQB/E!!
M0TE&24,-"D542$%.3TP@2$],1$E.1R!#3RX@3$Q#($%.1"!354)3241)05))
M15,\+V(^/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@
M=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^/&(^0T].1$5.4T5$#0I#3TU"24Y%1"!35$%414U%3E13($]&($-!
M4T@@1DQ/5U,\+V(^/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M<'0@,#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^/&(^2F%N=6%R>0T*,2P@,C`Q,"!T;R!*=6YE(#(Y+"`R
M,#$P/"]B/CPO9F]N=#X\+W`^#0H-"CQT86)L92!C96QL<W!A8VEN9STS1#`@
M8V5L;'!A9&1I;F<],T0P('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68[('=I9'1H.B`Q,#`E)SX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY/<&5R871I;F<@06-T:79I=&EE<SH\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,CX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#@V)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DYE="!I;F-O
M;64\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$Q)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ,#,L-S<P/"]F;VYT/CPO=&0^#0H@
M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=W:61T:#H@,24G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[
M(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6QE9G0Z(#EP=#L@=&5X="UI;F1E;G0Z("TY<'0[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY!9&IU<W1M96YT<R!T;R!R96-O;F-I;&4-"B`@("!N970@:6YC;VUE('1O
M(&%S:"!U<V5D(&EN(&]P97)A=&EN9R!A8W1I=FET:65S.CPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$
M;F]W<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D=A:6X@;VX@8F%N:W)U
M<'1C>2!E>&ET/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Q,3DL-#`X/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY$97!R96-I871I;VX@86YD(&%M;W)T:7IA=&EO;B!O9B!I;G1A;F=I
M8FQE<SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU+#`V-#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@=VAI
M=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M1V%I;B!O;B!D97)I=F%T:79E(&EN<W1R=6UE;G1S/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B@Q+#(P-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R
M87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[
M(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^06UO<G1I>F%T:6]N(&]F(&1E9F5R
M<F5D(&9I;F%N8VEN9R!C;W-T<SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXX-3PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^0VAA;F=E<R!I;B!O<&5R871I;F<@87-S971S(&%N9"!L
M:6%B:6QI=&EE<SH\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O
M;&]R.B`C145%145%)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/D%C8V]U;G1S(')E8V5I=F%B;&4\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^*#4L,#4Y/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A
M<#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@
M8F%C:V=R;W5N9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^26YV96YT;W)I97,\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,BPY-#@\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z("-%145%144G/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4')E<&%I9"!E>'!E;G-E
M<R!A;F0@;W1H97(@87-S971S/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$U.3PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\
M='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N
M9"UC;VQO<CH@=VAI=&4G/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^06-C;W5N=',@<&%Y86)L92!A;F0@86-C<G5E9"!E>'!E
M;G-E<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-BPX
M,SD\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@(T5%145%12<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY.970@8V%S:"!U<V5D(&EN(&]P97)A=&EN9R!A8W1I=FET:65S
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!B;&%C:R`Q+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#8L.#`X/"]F;VYT
M/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXI/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^26YV97-T:6YG($%C=&EV:71I97,Z/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N
M;W=R87`],T1N;W=R87`^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!9&1I
M=&EO;G,@=&\@<')O<&5R='D@86YD(&5Q=6EP;65N=#PO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M*#,Q,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/DYE="!C87-H(&EM<&%C="!O9B!B86YK<G5P=&-Y
M(&5X:70\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@Q
M+#,P,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DYE="!C87-H
M('5S960@:6X@:6YV97-T:6YG(&%C=&EV:71I97,\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O
M;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXH,2PV,3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[
M(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G
M9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY&:6YA;F-I;F<@06-T:79I=&EE<SH\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&YO=W)A<#TS1&YO=W)A<#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M.R!B86-K9W)O=6YD+6-O;&]R.B`C145%145%)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^4')O8V5E9',@9G)O;2!B;W)R;W=I;F=S('5N9&5R($1)
M4"!F:6YA;F-I;F<\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ(&)L86-K(#$N-7!T('-O;&ED)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q+C5P="!S;VQI9#L@=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU
M+#$W,SPO9F]N=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#$N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O
M;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DYE="!C
M87-H('!R;W9I9&5D(&)Y(&9I;F%N8VEN9R!A8W1I=FET:65S/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q
M+C5P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M8FQA8VL@,2XU<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-2PQ-S,\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@;F]W<F%P/3-$;F]W<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY.970@9&5C<F5A
M<V4@:6X@8V%S:"!A;F0@8V%S:"!E<75I=F%L96YT<SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXH,RPR-#8\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/D-A<V@@86YD(&-A<V@@97%U:79A;&5N=',@870@8F5G:6YN
M:6YG(&]F('!E<FEO9#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,2XU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@<V]L:60[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,RPR-#8\+V9O;G0^/"]T9#X-"B`@("`\=&0@;F]W<F%P/3-$;F]W
M<F%P('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q+C5P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@(T5%145%12<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`S<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY#87-H(&%N9"!C87-H(&5Q=6EV86QE;G1S(&%T(&5N9"!O9B!P97)I;V0\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B
M;&%C:R`R+C(U<'0@9&]U8FQE)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34Q.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!N;W=R87`],T1N;W=R87`@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#-P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\+W1A8FQE/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O
M9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-C$S.&(R,V-?,V4R
M9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT96YT+4QO8V%T:6]N.B!F
M:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y.31C9#DX8SDT
M,2]7;W)K<VAE971S+U-H965T,C4N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%
M;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT
M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^
M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT
M/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$
M=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V
M92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*
M("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$531$%#/@T*("`@
M("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R
M;W=S<&%N/3-$,CX\<W1R;VYG/C$N($]21T%.25I!5$E/3B!!3D0@0D%325,@
M3T8@4%)%4T5.5$%424].("A0;VQI8VEE<RD\8G(^/"]S=')O;F<^/"]T:#X-
M"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^.2!-;VYT:',@
M16YD960\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@
M/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CX\+W1H/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY/<F=A;FEZ871I;VX@06YD
M($)A<VES($]F(%!R97-E;G1A=&EO;B!0;VQI8VEE<SPO<W1R;VYG/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y/<F=A;FEZ871I;VX@86YD
M($)U<VEN97-S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
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M($]W;F5R<R`H87,@9&5F:6YE9"!B96QO=RD@*&-O;&QE8W1I=F5L>2P-"G1H
M92`F(S$T-SM#;VUP86YY)B,Q-#@[*2X\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*
M/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>3L@
M=&5X="UI;F1E;G0Z(#!I;B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/E1H90T*0V]M<&%N>2!I<R!T:&4@;&5A9&EN9R!M87)K971E<B!A;F0@
M<')O9'5C97(@;V8@;&]W+6-A<F)O;B!R96YE=V%B;&4@9G5E;',@:6X@=&AE
M(%=E<W1E<FX@56YI=&5D(%-T871E<RX@5&AE($-O;7!A;GD@86QS;R!S96QL
M<PT*971H86YO;"!C;RUP<F]D=6-T<RP@:6YC;'5D:6YG('=E="!D:7-T:6QL
M97)S(&=R86EN(&%N9"!S>7)U<"`H)B,Q-#<[5T1')B,Q-#@[*2P@86YD('!R
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M(%!L86YT<R`H87,@9&5F:6YE9"!B96QO=RD@86YD#0IU;G)E;&%T960@=&AI
M<F0@<&%R=&EE<R!T;R!G87-O;&EN92!R969I;FEN9R!A;F0@9&ES=')I8G5T
M:6]N(&-O;7!A;FEE<R!A;F0@<V5L;',@:71S(%=$1R!T;R!D86ER>2!O<&5R
M871O<G,@86YD(&%N:6UA;"!F965D(&1I<W1R:6)U=&]R<RX\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T
M:69Y.R!T97AT+6EN9&5N=#H@,&EN)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
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M92`F(S$T-SM086-I9FEC($5T:&%N;VP@4&QA;G1S)B,Q-#@[*0T*86YD('1H
M96ER(&AO;&1I;F<@8V]M<&%N>2P@4&%C:69I8R!%=&AA;F]L($AO;&1I;F<@
M0V\N($Q,0R`H)B,Q-#<[4$5(0RPF(S$T.#L@86YD('1O9V5T:&5R('=I=&@@
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M,"!M:6QL:6]N#0IG86QL;VYS+B!!<R!O9B!397!T96UB97(@,S`L(#(P,3(L
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M;G0^/"]P/@T*#0H-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA
M;&EG;CH@:G5S=&EF>2<^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/D]N($]C=&]B97(-"C8L(#(P,3`L('1H92!#;VUP
M86YY('!U<F-H87-E9"!A;B!I;FET:6%L(#(P)2!O=VYE<G-H:7`@:6YT97)E
M<W0@:6X@3F5W(%!%($AO;&1C;RP@82!V87)I86)L92!I;G1E<F5S="!E;G1I
M='D@*"8C,30W.U9)128C,30X.RDL#0IF<F]M(&$@;G5M8F5R(&]F($YE=R!0
M12!(;VQD8V\F(S$T-CMS(&]W;F5R<RX@070@=&AA="!T:6UE+"!T:&4@0V]M
M<&%N>2!D971E<FUI;F5D(&ET('=A<R!T:&4@<')I;6%R>2!B96YE9FEC:6%R
M>2!O9B!.97<@4$4@2&]L9&-O+`T*86YD(&%S('-U8V@L(&AA<R!C;VYS;VQI
M9&%T960@=&AE(')E<W5L=',@;V8@3F5W(%!%($AO;&1C;R!S:6YC92!T:&5N
M+B!3964@3F]T92`R("8C,34P.R!687)I86)L92!);G1E<F5S="!%;G1I='DN
M($]N(&5A8V@@;V8-"DYO=F5M8F5R(#(Y+"`R,#$Q(&%N9"!$96-E;6)E<B`Q
M.2P@,C`Q,2P@=&AE($-O;7!A;GD@<'5R8VAA<V5D(&%N(&%D9&ET:6]N86P@
M-R4@;W=N97)S:&EP(&EN=&5R97-T(&EN($YE=R!012!(;VQD8V\N($9U<G1H
M97(L#0IO;B!*=6QY(#$S+"`R,#$R+"!T:&4@0V]M<&%N>2!P=7)C:&%S960@
M86X@861D:71I;VYA;"`S,R4@;W=N97)S:&EP(&EN=&5R97-T(&EN($YE=R!0
M12!(;VQD8V\L(&)R:6YG:6YG('1H92!#;VUP86YY)B,Q-#8[<R!T;W1A;`T*
M;W=N97)S:&EP(&EN=&5R97-T(&EN($YE=R!012!(;VQD8V\@=&\@-C<E(&%S
M(&]F(%-E<'1E;6)E<B`S,"P@,C`Q,BX\+V9O;G0^/"]P/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3&EQ=6ED:71Y
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\+W`^#0H-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/DQI<75I
M9&ET>0T*/"]U/CPO:3XF(S$U,#L@1&5S<&ET92!T:&4@;&EQ=6ED:71Y(')I
M<VMS(')E;&%T:79E('1O('1H92!0;&%N="!/=VYE<G,F(S$T-CL@8W)E9&ET
M(&9A8VEL:71I97,L('1H92!#;VUP86YY(&)E;&EE=F5S('1H870@8W5R<F5N
M=`T*86YD(&9U='5R92!A=F%I;&%B;&4@8V%P:71A;"!R97-O=7)C97,L(')E
M=F5N=65S(&=E;F5R871E9"!F<F]M(&]P97)A=&EO;G,L(&%N9"!O=&AE<B!E
M>&ES=&EN9R!S;W5R8V5S(&]F(&QI<75I9&ET>2P@:6YC;'5D:6YG#0II=',@
M8W)E9&ET(&9A8VEL:71I97,L('=I;&P@8F4@861E<75A=&4@=&\@;65E="!I
M=',@86YT:6-I<&%T960@=V]R:VEN9R!C87!I=&%L(&%N9"!C87!I=&%L(&5X
M<&5N9&ET=7)E(')E<75I<F5M96YT<R!F;W(@=&AE(&YE>'0-"G1W96QV92!M
M;VYT:',N(%-E92!.;W1E(#4@)B,Q-3`[($1E8G0N($EF+"!H;W=E=F5R+"!T
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M.W,@9F%I;'5R92!T;R!R86ES92!C87!I=&%L+`T*:68@;F5E9&5D+"!C;W5L
M9"!R97-T<FEC="!I=',@9W)O=W1H+"!H:6YD97(@:71S(&%B:6QI='D@=&\@
M8V]M<&5T92!A;F0@861V97)S96QY(&EM<&%C="!I=',@;W!E<F%T:6]N<RX\
M+V9O;G0^/"]P/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^0F%S:7,@;V8@4')E<V5N=&%T:6]N+4EN=&5R:6T@1FEN
M86YC:6%L(%-T871E;65N=',\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG
M;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI
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M:6]N)B,Q-C`[4RU8+B!297-U;'1S(&9O<B!I;G1E<FEM('!E<FEO9',@<VAO
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M(#(P,3`@86YD(')E;&%T960@;F]T97,@8F5G:6YN:6YG(&]N('!A9V4@1BTR
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M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E5S92!O9B!%
M<W1I;6%T97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CPO<#X-
M"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CQI/CQU/E5S90T*
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M/"]P/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^4F5C;&%S<VEF:6-A=&EO;G,\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X
M="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/CQI/CQU/E)E8VQA<W-I9FEC871I;VX-"CPO=3X\+VD^+2!296-L87-S
M:69I8V%T:6]N<R!O9B!P<FEO<B!Y96%R)B,Q-#8[<R!D871A(&AA=F4@8F5E
M;B!M861E('1O(&-O;F9O<FT@=&\@,C`Q,B!C;&%S<VEF:6-A=&EO;G,N(%-U
M8V@@8VQA<W-I9FEC871I;VYS#0IH860@;F\@969F96-T(&]N(&YE="!I;F-O
M;64@*&QO<W,I(')E<&]R=&5D(&EN('1H92!C;VYS;VQI9&%T960@<W1A=&5M
M96YT<R!O9B!O<&5R871I;VYS+CPO9F]N=#X\+W`^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y!8V-O=6YT<R!296-E
M:79A8FQE(&%N9"!!;&QO=V%N8V4@9F]R($1O=6)T9G5L($%C8V]U;G1S/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^/&D^/'4^06-C;W5N=',-"E)E8V5I=F%B;&4@86YD
M($%L;&]W86YC92!F;W(@1&]U8G1F=6P@06-C;W5N=',\+W4^/"]I/B`F(S$U
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M;&QA=&5R86PN)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P<'0@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
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M(&%N9`T*=&AE($-O;7!A;GDF(S$T-CMS('-U8V-E<W,@:6X@8V]N=&%C=&EN
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M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P<'0@,#L@=&5X="UA;&EG;CH@
M:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D]F('1H
M92!T;W1A;`T*86-C;W5N=',@<F5C96EV86)L92!B86QA;F-E+"!A<'!R;WAI
M;6%T96QY("0R-2PU-#`L,#`P(&%N9"`D,C,L-S$U+#`P,"!A="!397!T96UB
M97(@,S`L(#(P,3(@86YD($1E8V5M8F5R(#,Q+"`R,#$Q+"!R97-P96-T:79E
M;'DL#0IW97)E('5S960@87,@8V]L;&%T97)A;"!U;F1E<B!+:6YE<F=Y)B,Q
M-#8[<R!W;W)K:6YG(&-A<&ET86P@;&EN92!O9B!C<F5D:70N(%1H92!A;&QO
M=V%N8V4@9F]R(&1O=6)T9G5L(&%C8V]U;G1S('=A<R`D.2PP,#`@86YD#0HD
M,C0L,#`P(&%S(&]F(%-E<'1E;6)E<B`S,"P@,C`Q,B!A;F0@1&5C96UB97(@
M,S$L(#(P,3$L(')E<W!E8W1I=F5L>2X@5&AE($-O;7!A;GD@<F5C;W)D960@
M;F5T(&)A9"!D96)T(')E8V]V97)I97,@;V8@)#$U+#`P,`T*86YD("0Q.#4L
M,#`P(&9O<B!T:&4@;FEN92!M;VYT:',@96YD960@4V5P=&5M8F5R(#,P+"`R
M,#$R(&%N9"`R,#$Q+"!R97-P96-T:79E;'DN/"]F;VYT/CPO<#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B
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M/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N
M=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS
M1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO
M=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-
M"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%3$4^#0H@("`@
M("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O
M=W-P86X],T0R/CQS=')O;F<^,BX@5D%224%"3$4@24Y415)%4U0@14Y42519
M("A486)L97,I/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H(&-O;'-P86X],T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E
M<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/CQS=')O;F<^5F%R:6%B;&4@26YT97)E<W0@16YT:71Y(%1A8FQE<SPO
M<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y686QU
M92!A;F0@8VQA<W-I9FEC871I;VX@;V8@87-S971S('1H870@87)E(&-O;&QA
M=&5R86P@9F]R(&]B;&EG871I;VYS(&]F($YE=R!012!(;VQD8V\\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQP('-T>6QE/3-$)VUA<F=I;CH@
M,'!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L
M:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M5&AE(&-A<G)Y:6YG#0IV86QU97,@86YD(&-L87-S:69I8V%T:6]N(&]F(&%S
M<V5T<R!T:&%T(&%R92!C;VQL871E<F%L(&9O<B!T:&4@;V)L:6=A=&EO;G,@
M;V8@3F5W(%!%($AO;&1C;R!C;VYS:7-T960@;V8@=&AE(&9O;&QO=VEN9R`H
M:6X@=&AO=7-A;F1S*3H\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@8V5L;'!A
M9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!S='EL93TS1"=B;W)D97(M8V]L
M;&%P<V4Z(&-O;&QA<'-E.R!W:61T:#H@,3`P)3L@9F]N="US:7IE.B`Q,'!T
M)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K
M(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^4V5P=&5M8F5R(#,P+"`R,#$R/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI
M9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D1E
M8V5M8F5R(#,Q+"`R,#$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@-C`E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0V%S:"!A;F0@8V%S:"!E<75I=F%L
M96YT<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,38E.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CDR
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,38E.R!T97AT
M+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/C(L,#<P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI
M=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3W1H97(@8W5R<F5N="!A<W-E
M=',\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,3,L,S8X/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,30L,S(P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L
M,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4')O<&5R='D@86YD
M(&5Q=6EP;65N=#PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXQ-#@L,SDP/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,34U+#4R,SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R
M.B!7:&ET92<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[
M('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY/=&AE<B!A<W-E=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$L,S8X/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED
M.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/C$L-CDS/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T.R!P861D:6YG+6)O='1O;3H@,BXU<'0[
M('!A9&1I;F<M;&5F=#H@,3%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/E1O=&%L(&%S<V5T<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT
M+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,38S+#(Q.#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#(N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C$W,RPV,#8\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SX\+V9O;G0^)B,Q-C`[
M/"]P/@T*#0H\=&%B;&4@8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$
M,"!S='EL93TS1"=B;W)D97(M8V]L;&%P<V4Z(&-O;&QA<'-E.R!W:61T:#H@
M,3`P)3L@9F]N="US:7IE.B`Q,'!T)SX-"CQT<B!S='EL93TS1"=V97)T:6-A
M;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S
M."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#8P)3L@=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-U
M<G)E;G0@;&EA8FEL:71I97,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$V)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXV+#`V,SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#$V)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXS+#`V-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQO
M;F<M=&5R;2!D96)T+"!I;F-L=61I;F<@8W5R<F5N="!P;W)T:6]N/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CDQ+#$X
M-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C<S
M+#(U-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I
M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN
M9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/D]T:&5R(&QI86)I;&ET:65S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ.34\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L
M86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,34X/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R
M('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M
M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!P861D:6YG+6QE9G0Z(#$Q
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4;W1A;"!L:6%B
M:6QI=&EE<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P
M="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^.3<L-#0T/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^-S8L-#<X/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J
M=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO<#X-"@T*#0H-"CQP('-T>6QE/3-$)VUA<F=I;CH@,'!T)SX\
M+W`^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B
M;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\V
M,3,X8C(S8U\S93)D7S1C-3E?.3DR.%\Q.3DT8V0Y.&,Y-#$-"D-O;G1E;G0M
M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?
M,3DY-&-D.3AC.30Q+U=O<FMS:&5E=',O4VAE970R-RYH=&UL#0I#;VYT96YT
M+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE#0I#;VYT96YT
M+51Y<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M87-C:6DB#0H-"CQH=&UL
M/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$0V]N=&5N="U4
M>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R
M:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$
M;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-
M"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$240P
M14U%/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS
M<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/C,N($E.5D5.5$]22453("A4
M86)L97,I/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS
M1'1H(&-O;'-P86X],T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@
M,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/CQS=')O;F<^26YV96YT;W)I97,@5&%B;&5S/"]S=')O;F<^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DEN=F5N=&]R:65S/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=M87)G:6XZ(#!P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W`^#0H-"CQT86)L92!C96QL<&%D9&EN9STS1#`@8V5L;'-P86-I;F<]
M,T0P('-T>6QE/3-$)V)O<F1E<BUC;VQL87!S93H@8V]L;&%P<V4[('=I9'1H
M.B`Q,#`E.R!F;VYT+7-I>F4Z(#$P<'0G/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L
M<W!A;CTS1#(@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M
M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY397!T96UB97(@,S`L(#(P,3(\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E<CL@
M8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^1&5C96UB97(@,S$L(#(P,3$\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@
M8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`V,"4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY&:6YI<VAE9"!G;V]D<SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,38E.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C@L,#@Y/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,38E.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/CDL-#(Y
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^5V]R:R!I;B!P<F]G<F5S<SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXT+#$V-#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C0L,C@T
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^4F%W(&UA=&5R:6%L<SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#(W,SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$L,S,T/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T
M;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/D]T:&5R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L
M86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXX-#@\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K
M(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,2PP.#0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`R+C5P=#L@<&%D9&EN9RUL969T.B`R,G!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&]T86P\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T
M(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$T+#,W
M-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$V+#$S,3PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0[(&)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SXF
M(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M.R!B86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^)B,Q-C`[/"]F;VYT/CPO<#X-
M"@T*#0H-"CQP('-T>6QE/3-$)VUA<F=I;CH@,'!T)SX\+W`^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D
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M:'1M;#L@8VAA<G-E=#TB=7,M87-C:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-
M"B`@("`\345402!H='1P+65Q=6EV/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0]
M,T0G=&5X="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T
M97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E
M(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@
M("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$240P14Q%/@T*("`@("`@
M/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S
M<&%N/3-$,CX\<W1R;VYG/C0N($1%4DE6051)5D53("A486)L97,I/&)R/CPO
M<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X]
M,T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@,S`L(#(P,3(\8G(^
M/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^1&5R
M:79A=&EV97,@5&%B;&5S/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/D1E<FEV871I=F5S(&YO="!D97-I9VYA=&5D(&%S(&AE
M9&=I;F<@:6YS=')U;65N=',\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQP('-T>6QE/3-$)VUA<F=I;CH@,'!T)SX\+W`^#0H-"CQP('-T>6QE
M/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[
M(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA
M<F=I;CH@,"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W`^#0H-"CQT86)L92!C96QL<&%D9&EN9STS1#`@8V5L;'-P
M86-I;F<],T0P('-T>6QE/3-$)W=I9'1H.B`Q,#`E.R!B;W)D97(M8V]L;&%P
M<V4Z(&-O;&QA<'-E.R!F;VYT+7-I>F4Z(#$P<'0G/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0V('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#%P="!S;VQI9#L@=&5X="UA
M;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M4F5A;&EZ960@1V%I;G,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!C;VQS<&%N/3-$-B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C
M:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/DYI;F4@36]N=&AS($5N9&5D#0H@("`@4V5P
M=&5M8F5R(#,P+#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^5'EP92!O9B!);G-T<G5M96YT/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,7!T('-O;&ED
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4W1A=&5M96YT<R!O
M9B!/<&5R871I;VYS($QO8V%T:6]N/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L
M<W!A;CTS1#(@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,7!T('-O
M;&ED.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXR,#$R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$
M,B!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`Q<'0@<V]L:60[('1E
M>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C(P,3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G8F%C:V=R
M;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*3L@=F5R=&EC86PM86QI9VXZ
M(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R
M+C5P=#L@=VED=&@Z(#,P)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/D-O;6UO9&ET>2!C;VYT<F%C=',\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!W:61T:#H@,R4G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!W
M:61T:#H@,S4E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0V]S
M="!O9B!G;V]D<R!S;VQD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=VED=&@Z(#,E)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L
M93L@=&5X="UA;&EG;CH@;&5F=#L@=VED=&@Z(#$E)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M
M86QI9VXZ(')I9VAT.R!W:61T:#H@,3$E)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^,C<W/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=VED
M=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`R+C5P=#L@=VED=&@Z(#,E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@
M;&5F=#L@=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT.R!W
M:61T:#H@,3$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-#8P
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0[('!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=VED=&@Z(#$E)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T
M<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*
M#0H\=&%B;&4@8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!S='EL
M93TS1"=W:61T:#H@,3`P)3L@8F]R9&5R+6-O;&QA<'-E.B!C;VQL87!S93L@
M9F]N="US:7IE.B`Q,'!T)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$-B!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!B;&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&-E;G1E<B<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E5N<F5A;&EZ960@3&]S
M<V5S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L
M:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!C
M96YT97([('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A
M;CTS1#8@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@8FQA8VL@,7!T('-O;&ED
M.R!T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SY.:6YE($UO;G1H<R!%;F1E9`T*("`@(%-E<'1E;6)E<B`S,"P\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/E1Y<&4@;V8@26YS=')U;65N=#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/E-T871E;65N=',@;V8@3W!E<F%T:6]N
M<R!,;V-A=&EO;CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#%P="!S;VQI9#L@=&5X="UA
M;&EG;CH@8V5N=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,C`Q,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@8FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!C
M96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR,#$Q/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)V)A8VMG<F]U;F0M8V]L;W(Z
M(')G8B@R,S@L,C,X+#(S."D[('9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!W:61T:#H@
M,S`E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0V]M;6]D:71Y
M(&-O;G1R86-T<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T.R!W:61T:#H@,R4G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=VED=&@Z(#,U)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D-O<W0@;V8@9V]O9',@<V]L9#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,7!T.R!W:61T:#H@,R4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@8FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T.R!W
M:61T:#H@,24G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L
M86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0[('=I9'1H.B`Q,24G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH-#<Y/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I
M;F<M8F]T=&]M.B`Q<'0[('=I9'1H.B`Q)2<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=VED=&@Z(#,E)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ(&)L86-K(#%P="!S;VQI9#L@=&5X
M="UA;&EG;CH@;&5F=#L@=VED=&@Z(#$E)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B
M;W)D97(M8F]T=&]M.B!B;&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(')I
M9VAT.R!W:61T:#H@,3$E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^*#$R-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T.R!P861D:6YG+6)O='1O;3H@,7!T.R!W:61T:#H@,24G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T
M<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ
M(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI
M9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T.R!B
M86-K9W)O=6YD+6-O;&]R.B!W:&ET92<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*
M#0H-"CQP('-T>6QE/3-$)VUA<F=I;CH@,'!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*
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M.R!C:&%R<V5T/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@
M(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T
M97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O
M:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI
M<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\
M=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%3$4^#0H@("`@("`\='(^
M#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X]
M,T0R/CQS=')O;F<^-2X@1$5"5"`H5&%B;&5S*3QB<CX\+W-T<F]N9SX\+W1H
M/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,3XY($UO;G1H
M<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*("`@("`@
M("`\=&@@8VQA<W,],T1T:#Y397`N(#,P+"`R,#$R/&)R/CPO=&@^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/D1E8G0@5&%B;&5S/"]S
M=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQO;F<@
M5&5R;2!$96)T/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S
M='EL93TS1"=M87)G:6XZ(#!P="<^/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ
M(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@8V5L;'!A
M9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!S='EL93TS1"=B;W)D97(M8V]L
M;&%P<V4Z(&-O;&QA<'-E.R!W:61T:#H@,3`P)3L@9F]N="US:7IE.B`Q,'!T
M)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4V5P=&5M8F5R(#,P
M+"`\8G(@+SXR,#$R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S
M='EL93TS1"=T97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L
M86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/D1E8V5M8F5R(#,Q+"`\8G(@+SX-"B`@("`R,#$Q/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG
M<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@-C`E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^2VEN97)G>2!O<&5R871I;F<@;&EN92!O
M9B!C<F5D:70\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$V)3L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXQ-RPQ-3@\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`R)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M-B4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^,C`L-#,R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@
M<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC
M;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4V5N:6]R('5N
M<V5C=7)E9"!N;W1E<SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXQ,"PP,#`\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$U,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY.
M;W1E('!A>6%B;&4@=&\@<F5L871E9"!P87)T>3PO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXW-3`\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXW-3`\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R
M;W5N9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4&QA
M;G0@3W=N97)S)B,Q-#8[('1E<FT@9&5B=#PO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU,BPV.#<\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU,2PR-SD\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C
M:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY0;&%N="!/=VYE<G,F
M(S$T-CL@;W!E<F%T:6YG(&QI;F4@;V8@8W)E9&ET/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED
M.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXS."PU,#`\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P
M=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O
M<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C
M:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^,C$L.3<X/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ,3DL,#DU/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^.30L-#,Y
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B
M;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!P861D:6YG+6)O
M='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3&5S
M<R!S:&]R="UT97)M('!O<G1I;VX\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B@U,"PQ,#4\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/BD\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!"
M;&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B@W-3`\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T
M>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L
M;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#(N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3&]N9RUT
M97)M(&1E8G0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#(N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C8X+#DY,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L
M86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/CDS+#8X.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R
M/@T*/"]T86)L93X-"@T*#0H\<"!S='EL93TS1"=M87)G:6XZ(#!P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^
M#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\V,3,X
M8C(S8U\S93)D7S1C-3E?.3DR.%\Q.3DT8V0Y.&,Y-#$-"D-O;G1E;G0M3&]C
M871I;VXZ(&9I;&4Z+R\O0SHO-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY
M-&-D.3AC.30Q+U=O<FMS:&5E=',O4VAE970S,"YH=&UL#0I#;VYT96YT+51R
M86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE#0I#;VYT96YT+51Y
M<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M87-C:6DB#0H-"CQH=&UL/@T*
M("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$0V]N=&5N="U4>7!E
M(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R:7!T
M('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$;R!.
M;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-"B`@
M/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$240P14Q%
M/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N
M/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/C<N($-/34U)5$U%3E13($%.1"!#
M3TY424Y'14Y#2453("A486)L97,I/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@
M("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/CD@36]N=&AS($5N9&5D
M/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C
M;&%S<STS1'1H/E-E<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^0V]M;6ET;65N=',@06YD($-O;G1I
M;F=E;F-I97,@5&%B;&5S/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/E-A;&5S(&-O;6UI=&UE;G1S/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=M87)G:6XZ(#!P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SQF;VYT('-T>6QE
M/3-$)V)A8VMG<F]U;F0M8V]L;W(Z('=H:71E)SXF(S$V,#L\+V9O;G0^/"]F
M;VYT/CPO<#X-"@T*/'1A8FQE(&-E;&QP861D:6YG/3-$,"!C96QL<W!A8VEN
M9STS1#`@<W1Y;&4],T0G8F]R9&5R+6-O;&QA<'-E.B!C;VQL87!S93L@=VED
M=&@Z(#$P,"4[(&9O;G0M<VEZ93H@,3!P="<^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@
M,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^1FEX
M960M4')I8V4@0V]N=')A8W1S/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M.#`E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^171H86YO;#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,R4G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,34E.R!T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C<P/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^5T1'/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU,C$\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI
M9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X
M*2<^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@
M=&5X="UI;F1E;G0Z(#$S+C=P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/E1O=&%L/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B
M;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K
M(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXU.3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=F;VYT.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[
M('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SX\:3XF(S$V,#L\+VD^/"]F;VYT/CPO<#X-"@T*#0H-"CQP('-T
M>6QE/3-$)VUA<F=I;CH@,'!T)SX\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@
M,#L@=&5X="UA;&EG;CH@:G5S=&EF>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQT86)L92!C96QL<&%D
M9&EN9STS1#`@8V5L;'-P86-I;F<],T0P('-T>6QE/3-$)V)O<F1E<BUC;VQL
M87!S93H@8V]L;&%P<V4[('=I9'1H.B`Q,#`E.R!F;VYT+7-I>F4Z(#$P<'0G
M/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!C96YT97(G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!C;VQS<&%N/3-$,B!S='EL93TS1"=T97AT+6%L:6=N.B!C96YT97([(&)O
M<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/DEN9&5X960M4')I8V4@0V]N=')A8W1S#0H@("`@
M/&)R("\^*%9O;'5M92D\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G
M=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B
M*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`X,"4[
M('1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F<M;&5F=#H@-"XS<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY%=&AA;F]L("AG86QL;VYS*3PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,R4G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q-24[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^.3<L
M-S`X/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!P861D:6YG
M+6QE9G0Z(#0N,W!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M5T1'("AT;VYS*3PO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXU-3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H-"@T*
M/'`@<W1Y;&4],T0G;6%R9VEN.B`P<'0G/CPO<#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H
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M:&%R<V5T/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-
M151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT
M+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V
M87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#
M;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B
M;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%2$@^#0H@("`@("`\='(^#0H@
M("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R
M/CQS=')O;F<^."X@1D%)4B!604Q512!-14%355)%345.5%,@*%1A8FQE<RD\
M8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L
M<W!A;CTS1#$^.2!-;VYT:',@16YD960\+W1H/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q
M,CQB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N
M9SY&86ER(%9A;'5E($UE87-U<F5M96YT<R!486)L97,\+W-T<F]N9SX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4VEG;FEF:6-A;G0@87-S
M=6UP=&EO;G,@=7-E9"!I;B!T:&4@=F%L=6%T:6]N<SPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'`@<W1Y;&4],T0G;6%R9VEN.B`P<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#LF(S$V,#L\+V9O
M;G0^/"]P/@T*#0H\=&%B;&4@8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG
M/3-$,"!S='EL93TS1"=B;W)D97(M8V]L;&%P<V4Z(&-O;&QA<'-E.R!W:61T
M:#H@,3`P)3L@9F]N="US:7IE.B`Q,'!T)SX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW
M96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^3W)I9VEN86P@27-S=64\8G(@+SX@1&%T93PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@<&%D9&EN9RUB
M;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H
M=#H@8F]L9#L@=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#%P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@
M=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@
M<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY%>&5R8VES
M92!0<FEC93PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O
M;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B
M;VQD.R!T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T=&]M.B`Q<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E
M>'0M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG
M;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY6;VQA=&EL:71Y/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T
M97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI
M9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N
M=&5R.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O
M<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/E)I<VL\8G(@+SX-"B`@("!&<F5E($EN=#QB<B`O
M/B!2871E/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I
M9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T=&]M
M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O
M;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X
M="UA;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N
M.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E1E<FT\8G(@+SX-"B`@("`H
M>7)S*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H
M=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD
M.R!T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M
M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY-87)K971A8FEL:71Y/&)R("\^
M($1I<V-O=6YT/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M
M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M
M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L-"B`@("!&86ER(%9A;'5E/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!L
M969T.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL
M93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM
M86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L
M,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`S-"4[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3V-T
M;V)E<B`R,#$P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`R)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`W)3L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXP+C$R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q
M)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@,B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`W)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXW-2XV)3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@-R4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^,"XV,B4\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#<E.R!T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4N,3`\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#<E.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C0X+C`E
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-R4[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M-#,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T
M:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!7:&ET92<^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^1&5C96UB97(@,C`Q,3PO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,"XX-#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C<W+C<E/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,"XT-R4\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXT+C(Q/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-34N.24\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU.#4\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^2G5L>2`R,#$R/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXP+C4P/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-S8N."4\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXP+C8R)3PO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C0N-S8\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU-RXU)3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,L,S4Q/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[
M(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SY*=6QY(#(P,3(\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C`N-#,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXW,RXY)3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C`N,3<E/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^,2XR-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C4W+C4E/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^.#4X/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E-E
M<'1E;6)E<B`R,#$R/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXP+C4Y/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^-S0N,24\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXP+C,Q)3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C,N,#`\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXU."XU)3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L
M:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#8U.#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M.R!B86-K9W)O=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T.R!B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D
M;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!B
M;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXV+#0Y-3PO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O
M;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G8V]L;W(Z
M(%)E9#L@9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@
M<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^/"]F;VYT/CPO<#X-"@T*/'`@<W1Y
M;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^/&D^/'4^07,@;V8@1&5C96UB97(-"C,Q
M+"`R,#$Q.CPO=3X\+VD^/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^/&D^)B,Q-C`[/"]I/CPO9F]N=#X\+W`^#0H-"CQT86)L
M92!C96QL<&%D9&EN9STS1#`@8V5L;'-P86-I;F<],T0P('-T>6QE/3-$)V)O
M<F1E<BUC;VQL87!S93H@8V]L;&%P<V4[('=I9'1H.B`Q,#`E.R!F;VYT+7-I
M>F4Z(#$P<'0G/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T
M;VTG/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X
M="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L
M:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY/<FEG:6YA;"!)
M<W-U93QB<B`O/B!$871E/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V9O;G0M=V5I9VAT.B!B;VQD.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L
M:6=N.B!L969T.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT
M97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/D5X97)C:7-E(%!R:6-E/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT
M+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ
M(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R
M.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E
M<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E9O;&%T:6QI='D\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E
M<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M
M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M4FES:SQB<B`O/@T*("`@($9R964@26YT/&)R("\^(%)A=&4\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M
M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([
M('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^5&5R;3QB<B`O/@T*("`@("AY<G,I/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L
M:6=N.B!C96YT97([('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI9VXZ(&-E
M;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!P
M861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V9O
M;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB
M;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/DUA<FME=&%B:6QI='D\8G(@+SX@1&ES8V]U;G0\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E
M>'0M86QI9VXZ(&-E;G1E<CL@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG
M;CH@8V5N=&5R.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0R('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT
M+6%L:6=N.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI
M9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D9A:7(-"B`@("!6
M86QU93PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H
M=#H@8F]L9#L@=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#%P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O
M='1O;2<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U
M;F0M8V]L;W(Z(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,S0E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/D]C=&]B97(@,C`Q,#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@-R4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,"XT-3PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@-R4[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^-C@N,"4\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#<E.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$N
M,#DE/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T
M:#H@,B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT
M+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`W
M)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXU+CDP/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`W)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXT-RXT)3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#<E.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/C(R-CPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY$96-E;6)E<B`R,#$Q/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXQ+C4P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^-C@N,"4\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXP+C@S)3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/C0N.38\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXU,BXP)3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@8F]R9&5R+6)O
M='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@
M<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#8Y-3PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I
M9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T.R!B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P
M="!D;W5B;&4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT
M.R!B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXQ+#DR,3PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CPO
M=&%B;&4^#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]P/@T*#0H-"@T*/'`@<W1Y;&4],T0G;6%R9VEN.B`P<'0G/CPO<#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/D-H86YG97,@:6X@=&AE(&9A:7(@=F%L=64@;V8@=&AE($-O;7!A;GDG<R!,
M979E;"`S(&EN<'5T<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'`@<W1Y;&4],T0G;6%R9VEN.B`P<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@
M8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!S='EL93TS1"=B;W)D
M97(M8V]L;&%P<V4Z(&-O;&QA<'-E.R!W:61T:#H@,3`P)3L@9F]N="US:7IE
M.B`Q,'!T)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#@U)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/D)A;&%N8V4L($1E8V5M8F5R(#,Q+"`R,#$Q/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`Q,24[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,2PY,C$\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@
M8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY787)R86YT(&5X97)C:7-E<SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,3$R/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T<CX-"CQT
M<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD
M+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D%D:G5S=&UE;G1S('1O(&9A:7(@
M=F%L=64@9F]R('1H92!P97)I;V0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C,S/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N
M.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/D)A;&%N8V4L($UA<F-H
M(#,Q+"`R,#$R/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/C$L.#0R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R
M,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^061J=7-T;65N=',@=&\@9F%I<B!V86QU92!F;W(@=&AE
M('!E<FEO9#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB
M;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@
M<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^*#$L,C@U/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F;VYT/CPO=&0^/"]T
M<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K
M9W)O=6YD+6-O;&]R.B!7:&ET92<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY"86QA;F-E+"!*=6YE(#,P+"`R,#$R/"]F;VYT
M/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C4U-SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DIU;'D@3V9F
M97)I;F<\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^,RPS.#`\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4V5P=&5M
M8F5R($]F9F5R:6YG/"]F;VYT/CPO=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/C$L-C4X/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$
M)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G
M8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N
M.B!L969T.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^061J=7-T;65N=',@=&\@9F%I<B!V86QU92!F;W(@
M=&AE('!E<FEO9#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q
M<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^.3`P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[
M(&)A8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^0F%L86YC92P@4V5P=&5M8F5R(#,P+"`R,#$R/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R
M+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXV
M+#0Y-3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/"]T
M86)L93X-"@T*#0H\<"!S='EL93TS1"=M87)G:6XZ(#!P="<^/"]P/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4W5M
M;6%R>2!O9B!F86ER('9A;'5E(&UE87-U<F5M96YT<R!B>2!L979E;#PO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N
M=#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN
M.B`P)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&AE(&9O;&QO
M=VEN9R!T86)L92!S=6UM87)I>F5S(&9A:7(-"G9A;'5E(&UE87-U<F5M96YT
M<R!B>2!L979E;"!A="!397!T96UB97(@,S`L(#(P,3(@*&EN('1H;W5S86YD
M<RDZ/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO<#X-"@T*
M/'1A8FQE(&-E;&QP861D:6YG/3-$,"!C96QL<W!A8VEN9STS1#`@<W1Y;&4]
M,T0G8F]R9&5R+6-O;&QA<'-E.B!C;VQL87!S93L@=VED=&@Z(#$P,"4[(&9O
M;G0M<VEZ93H@,3!P="<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;2<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N
M="UW96EG:'0Z(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[
M('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T
M('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3&5V96P-
M"B`@("`Q/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`Q<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V9O;G0M
M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB;W1T
M;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/DQE=F5L#0H@("`@,CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S
M='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R
M.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SY,979E;`T*("`@(#,\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@9F]N="UW
M96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG
M:'0Z(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M
M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&]T86P\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@
M9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R
M,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@
M8F]L9#L@=&5X="UD96-O<F%T:6]N.B!U;F1E<FQI;F4[('1E>'0M:6YD96YT
M.B`M,6EN.R!P861D:6YG+6QE9G0Z(#%I;B<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/D%S<V5T<SH\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A
M8VMG<F]U;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#0X)3L@<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UI;F1E;G0Z("TQ
M:6X[('!A9&1I;F<M;&5F=#H@,6EN)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^0V]M;6]D:71Y(&-O;G1R86-T<R@Q*3PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4[('!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M
M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/C4Q-#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E
M.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W=I9'1H.B`Q)3L@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Y)3L@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L
M:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,34P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[
M('!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E.R!P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`Q
M<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#(E.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T
M('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W
M:61T:#H@.24[(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXU,30\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E
M.R!P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B
M86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@
M<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#(N
M-7!T.R!T97AT+6EN9&5N=#H@."XV<'0[('!A9&1I;F<M;&5F=#H@,"XU:6XG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4;W1A;`T*("`@($%S
M<V5T<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D
M;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^-3$T/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-3`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R
M9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R
M+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^-3$T/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@=&5X="UA;&EG;CH@
M;&5F=#L@;6%R9VEN+71O<#H@,#L@;6%R9VEN+6)O='1O;3H@,"<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E]?7U]?7U]?7U\\+V9O;G0^/"]P
M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF.R!T97AT+6%L:6=N.B!L969T.R!M87)G:6XM=&]P.B`P
M.R!M87)G:6XM8F]T=&]M.B`P)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^*#$I#0I);F-L=61E9"!I;B!O=&AE<B!C=7)R96YT(&%S<V5T<R!I
M;B!T:&4@8V]N<V]L:61A=&5D(&)A;&%N8V4@<VAE971S+CPO9F]N=#X\+W`^
M#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,"`P(#`@,"XR-6EN.R!T97AT+6EN9&5N
M=#H@.7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P(#`@,"`P+C(U:6X[
M('1E>'0M:6YD96YT.B`Y<'0G/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M(#`@,"`P+C(U:6X[('1E>'0M:6YD96YT.B`Y<'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@
M8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!S='EL93TS1"=B;W)D
M97(M8V]L;&%P<V4Z(&-O;&QA<'-E.R!W:61T:#H@,3`P)3L@9F]N="US:7IE
M.B`Q,'!T)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M)SX-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H
M=#H@8F]L9#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C
M;VQS<&%N/3-$,B!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA
M;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY,979E;`T*("`@(#$\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#%P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G9F]N="UW96EG:'0Z(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M3&5V96P-"B`@("`R/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!P861D:6YG+6)O
M='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$
M)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E
M<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/DQE=F5L#0H@("`@,SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT+7=E:6=H=#H@
M8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L
M9#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N
M/3-$,B!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY4;W1A;#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT+7=E
M:6=H=#H@8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM
M86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT
M.B!B;VQD.R!T97AT+61E8V]R871I;VXZ('5N9&5R;&EN93L@=&5X="UI;F1E
M;G0Z("TQ:6X[('!A9&1I;F<M;&5F=#H@,6EN)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^3&EA8FEL:71I97,Z/"]F;VYT/CPO=&0^#0H@("`@
M/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R
M:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T
M=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H,C,X+#(S."PR,S@I)SX-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#0X)3L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E=A<G)A;G1S/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT
M+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R
M)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXV
M+#0Y-3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED
M=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C8L-#DU/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4]
M,T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@
M5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T
M.R!T97AT+6EN9&5N=#H@+3%I;CL@<&%D9&EN9RUL969T.B`Q:6XG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY#;VUM;V1I='D@8V]N=')A8W1S
M*#$I/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI
M9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXR.3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D
M9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@
M,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,34P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@
M,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR
M.3$\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UI;F1E
M;G0Z(#@N-G!T.R!P861D:6YG+6QE9G0Z(#`N-6EN)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^5&]T86P-"B`@("!,:6%B:6QI=&EE<SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^,CDQ/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M
M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE
M.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M
M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P
M=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C
M:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^-BPT.34\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L
M93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXV+#<X-CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P
M861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/E]?7U]?7U]?7U\\+V9O;G0^/"]P/@T*
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!M87)G:6XM=&]P.B`P.R!M87)G:6XM8F]T=&]M.B`P)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#$I($EN8VQU9&5D#0II
M;B!A8V-R=65D(&QI86)I;&ET:65S(&EN('1H92!C;VYS;VQI9&%T960@8F%L
M86YC92!S:&5E=',N/"]F;VYT/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^5&AE(&9O;&QO=VEN9R!T86)L97,@<W5M;6%R:7IE
M(&9A:7(-"G9A;'5E(&UE87-U<F5M96YT<R!B>2!L979E;"!A="!$96-E;6)E
M<B`S,2P@,C`Q,2`H:6X@=&AO=7-A;F1S*3H\+V9O;G0^/"]P/@T*#0H\<"!S
M='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF.R!M87)G:6XZ(#`G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\=&%B;&4@8V5L;'!A9&1I;F<],T0P
M(&-E;&QS<&%C:6YG/3-$,"!S='EL93TS1"=B;W)D97(M8V]L;&%P<V4Z(&-O
M;&QA<'-E.R!W:61T:#H@,3`P)3L@9F]N="US:7IE.B`Q,'!T)SX-"CQT<B!S
M='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\=&0^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@<&%D9&EN
M9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL
M93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!B
M;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SY,979E;`T*("`@(#$\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@9F]N="UW96EG
M:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L
M<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M86QI
M9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3&5V96P-"B`@("`R/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V9O;G0M=V5I9VAT.B!B;VQD.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B
M;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K
M(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/DQE
M=F5L#0H@("`@,SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@<&%D9&EN9RUB;W1T
M;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=F
M;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M
M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SY4;W1A;#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT+7=E:6=H=#H@8F]L9"<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@
M8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D
M('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+61E8V]R871I;VXZ
M('5N9&5R;&EN93L@=&5X="UI;F1E;G0Z("TQ:6X[('!A9&1I;F<M;&5F=#H@
M,6EN)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^07-S971S.CPO
M9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@-#@E.R!P861D:6YG+6)O='1O
M;3H@,7!T.R!T97AT+6EN9&5N=#H@+3%I;CL@<&%D9&EN9RUL969T.B`Q:6XG
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY#;VUM;V1I='D@8V]N
M=')A8W1S*#$I/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`R)3L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@,24[(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI
M9#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#DE.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI
M9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^,C0T
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D
M9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,B4[('!A9&1I;F<M8F]T=&]M.B`Q<'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M8F]T
M=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!B;W)D97(M8F]T=&]M.B!"
M;&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-3`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#%P=#L@
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T
M:#H@,B4[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G=VED=&@Z(#$E.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L
M:60[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=VED=&@Z(#DE.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-3`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Q)3L@<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4[('!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!B
M;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C(T-#PO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=W:61T:#H@,24[('!A9&1I;F<M8F]T=&]M.B`Q<'0[
M('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E
M<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z(')G8B@R
M,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L
M969T.R!P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M:6YD96YT.B`X+C9P
M=#L@<&%D9&EN9RUL969T.B`P+C5I;B<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/E1O=&%L#0H@("`@07-S971S/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B
M;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR-#0\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T
M.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B
M;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K
M(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L
M93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$U,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P
M="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXR-#0\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#(N-7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CPO=&%B;&4^
M#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF.R!T97AT+6%L:6=N.B!L969T.R!M87)G:6XM=&]P.B`P.R!M
M87)G:6XM8F]T=&]M.B`P)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^7U]?7U]?7U]?7SPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[(&UA<F=I;BUT
M;W`Z(#`[(&UA<F=I;BUB;W1T;VTZ(#`G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXH,2D@26YC;'5D960-"FEN(&]T:&5R(&-U<G)E;G0@87-S
M971S(&EN('1H92!C;VYS;VQI9&%T960@8F%L86YC92!S:&5E=',N/"]F;VYT
M/CPO<#X-"@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P(#`@,"`T-7!T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[)B,Q-C`[/"]F;VYT/CPO
M<#X-"@T*/'1A8FQE(&-E;&QP861D:6YG/3-$,"!C96QL<W!A8VEN9STS1#`@
M<W1Y;&4],T0G8F]R9&5R+6-O;&QA<'-E.B!C;VQL87!S93L@=VED=&@Z(#$P
M,"4[(&9O;G0M<VEZ93H@,3!P="<^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM
M86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G9F]N="UW96EG:'0Z(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z
M(&)O;&0[('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M3&5V96P-"B`@("`Q/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`Q<'0[(&9O;G0M=V5I9VAT.B!B;VQD)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!P861D:6YG+6)O
M='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$
M)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!C96YT97([(&)O<F1E
M<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/DQE=F5L#0H@("`@,CPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT+7=E:6=H=#H@
M8F]L9"<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L
M9#L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N
M/3-$,B!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UA;&EG;CH@
M8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY,979E;`T*("`@(#,\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@
M9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G9F]N
M="UW96EG:'0Z(&)O;&0[('!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[
M('1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T
M('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5&]T86P\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#%P=#L@9F]N="UW96EG:'0Z(&)O;&0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE
M/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U;F0M8V]L;W(Z
M(')G8B@R,S@L,C,X+#(S."DG/@T*("`@(#QT9"!S='EL93TS1"=F;VYT+7=E
M:6=H=#H@8F]L9#L@=&5X="UD96-O<F%T:6]N.B!U;F1E<FQI;F4[('1E>'0M
M:6YD96YT.B`M,6EN.R!P861D:6YG+6QE9G0Z(#%I;B<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/DQI86)I;&ET:65S.CPO9F]N=#X\+W1D/@T*
M("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ
M(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG
M:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ
M(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S
M='EL93TS1"=W:61T:#H@-#@E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^5V%R<F%N=',H,2D\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!T97AT+6%L:6=N.B!R:6=H
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#(E)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@
M;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C$L.3(Q
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,B4G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L
M:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@.24[('1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M,2PY,C$\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E
M.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V
M97)T:6-A;"UA;&EG;CH@8F]T=&]M.R!B86-K9W)O=6YD+6-O;&]R.B!R9V(H
M,C,X+#(S."PR,S@I)SX-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#%P=#L@=&5X="UI;F1E;G0Z("TQ:6X[('!A9&1I;F<M;&5F=#H@,6EN
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^0V]M;6]D:71Y(&-O
M;G1R86-T<R@R*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E
M<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q
M<'0@<V]L:60[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^-3`P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@
M<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,34P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG
M;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ
M($)L86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^-3`P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*
M/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VT[(&)A8VMG<F]U
M;F0M8V]L;W(Z(%=H:71E)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG
M;CH@;&5F=#L@<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6EN9&5N=#H@
M."XV<'0[('!A9&1I;F<M;&5F=#H@,"XU:6XG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY4;W1A;`T*("`@($QI86)I;&ET:65S/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R
M+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA
M;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXU
M,#`\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T
M;VTZ(#(N-7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T
M;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$U,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D
M97(M8F]T=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N
M-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXQ+#DR,3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L
M86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/C(L-#(Q/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9CL@=&5X="UA;&EG;CH@;&5F=#L@;6%R9VEN
M+71O<#H@,#L@;6%R9VEN+6)O='1O;3H@,"<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/E]?7U]?7U]?7U\\+V9O;G0^/"]P/@T*#0H\<"!S='EL
M93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M.R!T97AT+6%L:6=N.B!L969T.R!M87)G:6XM=&]P.B`P.R!M87)G:6XM8F]T
M=&]M.B`P)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#$I#0I)
M;F-L=61E9"!I;B!O=&AE<B!L:6%B:6QI=&EE<R!I;B!T:&4@8V]N<V]L:61A
M=&5D(&)A;&%N8V4@<VAE971S+CPO9F]N=#X\+W`^#0H-"CQP('-T>6QE/3-$
M)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68[('1E
M>'0M86QI9VXZ(&QE9G0[(&UA<F=I;BUT;W`Z(#`[(&UA<F=I;BUB;W1T;VTZ
M(#`G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXH,BD-"DEN8VQU
M9&5D(&EN(&%C8W)U960@;&EA8FEL:71I97,@:6X@=&AE(&-O;G-O;&ED871E
M9"!B86QA;F-E('-H965T<RX\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#`@,"`P(#`N,C5I;CL@=&5X="UI;F1E;G0Z(#EP="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W`^#0H-"CQP
M('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68[(&UA<F=I;CH@,"`P(#`@,"XR-6EN.R!T97AT+6EN9&5N=#H@.7!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T
M86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T
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M;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT
M+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS
M8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J
M($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D
M/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)
M1#!%3$4^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O
M;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^.2X@14%23DE.1U,@4$52
M(%-(05)%("A486)L97,I/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT
M:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS
M1'1H/E-E<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/CQS=')O;F<^16%R;FEN9W,@4&5R(%-H87)E(%1A8FQE<SPO
M<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%87)N
M:6YG(%!E<B!3:&%R93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'`@<W1Y;&4],T0G;6%R9VEN.B`P<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*#0H\<"!S='EL93TS1"=F
M;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M87)G
M:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SY4:&4@9F]L;&]W:6YG#0IT86)L97,@8V]M<'5T92!B
M87-I8R!A;F0@9&EL=71E9"!E87)N:6YG<R!P97(@<VAA<F4@*&EN('1H;W5S
M86YD<RP@97AC97!T('!E<B!S:&%R92!D871A*3H\+V9O;G0^/"]P/@T*#0H\
M<"!S='EL93TS1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF.R!M87)G:6XZ(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]P/@T*
M#0H\=&%B;&4@8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!S='EL
M93TS1"=B;W)D97(M8V]L;&%P<V4Z(&-O;&QA<'-E.R!W:61T:#H@,3`P)3L@
M9F]N="US:7IE.B`Q,'!T)SX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N
M=&5R)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#$P('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^3FEN92!-;VYT:',@
M16YD960-"B`@("!397!T96UB97(@,S`L(#(P,3(\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E<B<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M(&-O;'-P86X],T0R('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R
M9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^3&]S<R`\8G(@+SY.=6UE<F%T;W(\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E
M;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4VAA<F5S($1E;F]M:6YA=&]R/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P
M="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S='EL93TS1"=T97AT+6%L
M:6=N.B!C96YT97([(&)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9"<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/E!E<BU3:&%R93QB<B`O
M/B!!;6]U;G0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC
M86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR
M,S@L,C,X*2<^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`V,24[('1E>'0M
M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SY.970@;&]S<R!A='1R:6)U=&5D('1O(%!A8VEF:6,@171H86YO;#PO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)#PO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@.24[('1E>'0M86QI9VXZ(')I9VAT
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#$S+#4U,SPO9F]N
M=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXI/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`R)2<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*
M("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#DE.R!T97AT+6%L:6=N
M.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,24[('1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z
M(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@.24[
M('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C:V=R;W5N9"UC;VQO
M<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L:6=N.B!J=7-T
M:69Y.R!P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^3&5S<SH@4')E9F5R<F5D('-T;V-K(&1I=FED96YD<SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@
M,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L
M86-K(#%P="!S;VQI9#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^*#DT.3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^*3PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P
M=#L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C
M:V=R;W5N9"UC;VQO<CH@<F=B*#(S."PR,S@L,C,X*2<^#0H@("`@/'1D('-T
M>6QE/3-$)V9O;G0M=V5I9VAT.B!B;VQD.R!T97AT+6%L:6=N.B!L969T.R!T
M97AT+6EN9&5N=#H@+3@N,#5P=#L@<&%D9&EN9RUL969T.B`X+C`U<'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY"87-I8PT*("`@(&%N9"!D
M:6QU=&5D(&QO<W,@<&5R('-H87)E.CPO9F]N=#X\+W1D/@T*("`@(#QT9#X\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@
M("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@
M(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;3L@8F%C
M:V=R;W5N9"UC;VQO<CH@5VAI=&4G/@T*("`@(#QT9"!S='EL93TS1"=T97AT
M+6%L:6=N.B!L969T.R!P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M:6YD
M96YT.B`M-RXW-7!T.R!P861D:6YG+6QE9G0Z(#<N-S5P="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/DQO<W,-"B`@("!A=F%I;&%B;&4@=&\@
M8V]M;6]N('-T;V-K:&]L9&5R<SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT
M+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^*#$T+#4P,CPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXI/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T
M=&]M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T
M=&]M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF
M;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T
M9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU
M<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/CDV+#(P,SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S
M='EL93TS1"=P861D:6YG+6)O='1O;3H@,BXU<'0[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N
M-7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L
M86-K(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B@P+C$U/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X\+W1R/@T*/"]T
M86)L93X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68[(&UA<F=I;CH@,#L@=&5X="UA;&EG;CH@:G5S=&EF
M>2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N
M=#X\+W`^#0H-"CQT86)L92!C96QL<&%D9&EN9STS1#`@8V5L;'-P86-I;F<]
M,T0P('-T>6QE/3-$)V)O<F1E<BUC;VQL87!S93H@8V]L;&%P<V4[('=I9'1H
M.B`Q,#`E.R!F;VYT+7-I>F4Z(#$P<'0G/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!C96YT97(G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB
M;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,3`@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q
M<'0@<V]L:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY.:6YE
M($UO;G1H<R!%;F1E9`T*("`@(%-E<'1E;6)E<B`S,"P@,C`Q,3PO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M
M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N=&5R)SX\9F]N
M="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-
M"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G=&5X="UA;&EG;CH@8V5N
M=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY);F-O;64@/&)R("\^($YU;65R871O
M<CPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O
M;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@8V]L<W!A;CTS1#(@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@8V5N=&5R.R!B;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L
M:60G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY3:&%R97,@1&5N
M;VUI;F%T;W(\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,7!T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D(&-O;'-P86X],T0R('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&-E;G1E<CL@8F]R9&5R+6)O='1O;3H@0FQA8VL@
M,7!T('-O;&ED)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^4&5R
M+5-H87)E(#QB<B`O/B!!;6]U;G0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y
M;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`V,24[('1E>'0M86QI9VXZ(&IU<W1I9GDG/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY.970@:6YC;VUE(&%T=')I8G5T960@
M=&\@4&%C:69I8R!%=&AA;F]L/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W=I9'1H.B`R)2<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@
M,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I9'1H
M.B`Y)3L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXU+#$R,#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=W:61T:#H@,24[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#(E)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W=I
M9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=W:61T:#H@.24[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3L@=&5X="UA;&EG;CH@;&5F="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D
M/@T*("`@(#QT9"!S='EL93TS1"=W:61T:#H@,B4G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S
M='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W=I9'1H.B`Y)3L@=&5X="UA;&EG;CH@<FEG:'0G
M/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^
M/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=VED=&@Z(#$E.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^/"]T<CX-"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG
M;CH@8F]T=&]M)SX-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA;&EG;CH@:G5S
M=&EF>3L@<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/DQE<W,Z(%!R969E<G)E9"!S=&]C:R!D:79I9&5N9',\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ
M(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!"
M;&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA8VL@,7!T('-O;&ED.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B@Y-#8\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G<&%D9&EN
M9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/BD\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0[('1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W!A9&1I;F<M8F]T=&]M.B`Q<'0[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X\
M+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I8V%L+6%L:6=N.B!B;W1T;VTG/@T*
M("`@(#QT9"!S='EL93TS1"=F;VYT+7=E:6=H=#H@8F]L9#L@=&5X="UI;F1E
M;G0Z("TX+C`U<'0[('!A9&1I;F<M;&5F=#H@."XP-7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^0F%S:6,@:6YC;VUE('!E<B!S:&%R93H\
M+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=T
M97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^
M)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M86QI
M9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V
M,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N="US
M:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS
M1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP
M="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0^/&9O;G0@<W1Y;&4],T0G9F]N
M="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL
M93TS1"=T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(')I9VAT)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z
M(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W1E
M>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X\+W1R/@T*/'1R('-T>6QE/3-$)W9E<G1I
M8V%L+6%L:6=N.B!B;W1T;VTG/@T*("`@(#QT9"!S='EL93TS1"=T97AT+6%L
M:6=N.B!J=7-T:69Y.R!P861D:6YG+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY);F-O;64@879A:6QA8FQE('1O(&-O
M;6UO;B!S=&]C:VAO;&1E<G,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SX\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B0\
M+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@
M0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C0L,3<T/"]F;VYT/CPO=&0^#0H@
M("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF
M(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O
M='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T)SX\
M9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO
M=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N
M-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$
M)V9O;G0M<VEZ93H@.'!T)SXR,2PR,S`\+V9O;G0^/"]T9#X-"B`@("`\=&0@
M<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R
M+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO
M9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!"
M;&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T
M>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXP+C(P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I
M;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y
M;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^
M#0H\='(@<W1Y;&4],T0G=F5R=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@
M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU<W1I9GD[('!A9&1I;F<M8F]T
M=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SY!9&0Z
M(%-T;V-K(&]P=&EO;G,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M<&%D9&EN9RUB;W1T;VTZ(#%P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE
M.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B
M;W)D97(M8F]T=&]M.B!";&%C:R`Q<'0@<V]L:60[('1E>'0M86QI9VXZ(&QE
M9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4]
M,T0G9F]N="US:7IE.B`X<'0G/B8C,34P.SPO9F]N=#X\+W1D/@T*("`@(#QT
M9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L
M969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F
M;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q
M<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O
M;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O;3H@0FQA
M8VL@,7!T('-O;&ED.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS
M1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D
M('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#%P="!S;VQI9#L@=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXY.#PO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O
M='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`Q<'0G/CQF;VYT('-T>6QE/3-$)V9O
M;G0M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#%P=#L@=&5X="UA;&EG;CH@;&5F="<^
M/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\
M+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!T
M97AT+6%L:6=N.B!R:6=H="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D
M:6YG+6)O='1O;3H@,7!T.R!T97AT+6%L:6=N.B!L969T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^/"]T<CX-
M"CQT<B!S='EL93TS1"=V97)T:6-A;"UA;&EG;CH@8F]T=&]M)SX-"B`@("`\
M=&0@<W1Y;&4],T0G9F]N="UW96EG:'0Z(&)O;&0[('1E>'0M:6YD96YT.B`M
M."XP-7!T.R!P861D:6YG+6QE9G0Z(#@N,#5P="<^/&9O;G0@<W1Y;&4],T0G
M9F]N="US:7IE.B`X<'0G/D1I;'5T960@:6YC;VUE('!E<@T*("`@('-H87)E
M.CPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT+7-I
M>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$
M)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X="UA
M;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C
M,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F;VYT
M+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE
M/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@
M.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9#X\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT('-T>6QE/3-$)V9O;G0M
M<VEZ93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4]
M,T0G=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G
M=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X
M<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO='(^#0H\='(@<W1Y;&4],T0G=F5R
M=&EC86PM86QI9VXZ(&)O='1O;2<^#0H@("`@/'1D('-T>6QE/3-$)W1E>'0M
M86QI9VXZ(&QE9G0[('!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UI;F1E
M;G0Z("TW+C<U<'0[('!A9&1I;F<M;&5F=#H@-RXW-7!T)SX\9F]N="!S='EL
M93TS1"=F;VYT+7-I>F4Z(#AP="<^26YC;VUE#0H@("`@879A:6QA8FQE('1O
M(&-O;6UO;B!S=&]C:VAO;&1E<G,\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y
M;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T)SX\9F]N="!S='EL93TS1"=F
M;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T
M>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L93L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B0\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R+6)O='1O
M;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!R:6=H="<^/&9O
M;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/C0L,3<T/"]F;VYT/CPO=&0^
M#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X
M="UA;&EG;CH@;&5F="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G
M/B8C,38P.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=P861D:6YG
M+6)O='1O;3H@,BXU<'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T
M)SXF(S$V,#L\+V9O;G0^/"]T9#X-"B`@("`\=&0@<W1Y;&4],T0G8F]R9&5R
M+6)O='1O;3H@0FQA8VL@,BXU<'0@9&]U8FQE.R!T97AT+6%L:6=N.B!L969T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K
M(#(N-7!T(&1O=6)L93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE
M/3-$)V9O;G0M<VEZ93H@.'!T)SXR,2PS,C@\+V9O;G0^/"]T9#X-"B`@("`\
M=&0@<W1Y;&4],T0G<&%D9&EN9RUB;W1T;VTZ(#(N-7!T.R!T97AT+6%L:6=N
M.B!L969T)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[
M/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A9&1I;F<M8F]T=&]M
M.B`R+C5P="<^/&9O;G0@<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P
M.SPO9F]N=#X\+W1D/@T*("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M
M.B!";&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(&QE9G0G/CQF;VYT
M('-T>6QE/3-$)V9O;G0M<VEZ93H@.'!T)SXD/"]F;VYT/CPO=&0^#0H@("`@
M/'1D('-T>6QE/3-$)V)O<F1E<BUB;W1T;VTZ($)L86-K(#(N-7!T(&1O=6)L
M93L@=&5X="UA;&EG;CH@<FEG:'0G/CQF;VYT('-T>6QE/3-$)V9O;G0M<VEZ
M93H@.'!T)SXP+C(P/"]F;VYT/CPO=&0^#0H@("`@/'1D('-T>6QE/3-$)W!A
M9&1I;F<M8F]T=&]M.B`R+C5P=#L@=&5X="UA;&EG;CH@;&5F="<^/&9O;G0@
M<W1Y;&4],T0G9F]N="US:7IE.B`X<'0G/B8C,38P.SPO9F]N=#X\+W1D/CPO
M='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G9F]N=#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9CL@;6%R9VEN.B`P.R!T97AT+6%L:6=N
M.B!J=7-T:69Y)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q
M-C`[/"]F;VYT/CPO<#X-"@T*#0H-"CQP('-T>6QE/3-$)VUA<F=I;CH@,'!T
M)SX\9F]N="!S='EL93TS1"=F;VYT+7-I>F4Z(#AP="<^)B,Q-C`[/"]F;VYT
M/CPO<#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T
M86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T
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M;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT
M+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS
M8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J
M($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D
M/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)
M1#!%3T)!13X-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@
M8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SXQ+B!/4D=!3DE:051)
M3TX@04Y$($)!4TE3($]&(%!215-%3E1!5$E/3B`H1&5T86EL<R!.87)R871I
M=F4I("A54T0@)"D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&@@8V]L<W!A;CTS1#(^,R!-;VYT:',@16YD960\+W1H/@T*("`@
M("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,CXY($UO;G1H<R!%;F1E
M9#PO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0R/C$R
M($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*
M("`@("`@("`\=&@@8VQA<W,],T1T:#Y397`N(#,P+"`R,#$R/&)R/CPO=&@^
M#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@,S`L(#(P,3$\8G(^/"]T
M:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CX\
M+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y397`N(#,P+"`R,#$Q/&)R
M/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3$\
M8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q
M,#QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N
M9SY/<F=A;FEZ871I;VX@86YD(&)A<VES(&]F(%!R97-E;G1A=&EO;CPO<W1R
M;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y,:6YE(&]F
M(&-R961I="!C;VQL871E<F%L('5S960\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/B0@,C4L-30P+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,C4L-30P+#`P,#QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,C,L-S$U+#`P
M,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^06QL;W=A;F-E(&9O<B!D;W5B=&9U;"!A8V-O=6YT<SPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^.2PP,#`\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XY+#`P,#QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C(T+#`P,#QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^0F%D(&1E
M8G0@<F5C;W9E<GD\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@
M,34L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^)"`T-2PP,#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XD(#$U+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,3@U+#`P,#QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,C$X+#`P,#QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,3@T
M+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A
M8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?
M-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT96YT
M+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X
M7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T,S0N:'1M;`T*0V]N=&5N
M="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N
M="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M
M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M
M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C
M<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@
M1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^
M#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$
M,$4R14%%/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C
M;VQS<&%N/3-$,2!R;W=S<&%N/3-$,3X\<W1R;VYG/C(N(%9!4DE!0DQ%($E.
M5$5215-4($5.5$E462`H1&5T86EL<RD@*%9)14)A;&%N8V53:&5E=$UE;6)E
M<BP@55-$("0I/&)R/DEN(%1H;W5S86YD<RP@=6YL97-S(&]T:&5R=VES92!S
M<&5C:69I960\+W-T<F]N9SX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T
M:#Y397`N(#,P+"`R,#$R/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS
M1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R:#X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/E9)14)A;&%N8V53:&5E=$UE;6)E<CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\
M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/E9A;'5E<R!A;F0@8VQA<W-I
M9FEC871I;VX@;V8@87-S971S('1H870@87)E(&-O;&QA=&5R86P@9F]R('1H
M92!O8FQI9V%T:6]N<R!O9B!.97<@4$4@2&]L9&-O/"]S=')O;F<^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D-A<V@@86YD(&-A<V@@97%U
M:79A;&5N=',\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@.3(\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD
M(#(L,#<P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@
M/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG
M;CTS1'1O<#Y/=&AE<B!C=7)R96YT(&%S<V5T<SPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^,3,L,S8X/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^,30L,S(P/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0<F]P97)T>2!A;F0@97%U
M:7!M96YT/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ-#@L,SDP
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M,34U+#4R,SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^3W1H97(@87-S971S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XQ+#,V.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/C$L-CDS/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\
M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'!L('9A;&EG;CTS1'1O<#Y4;W1A;"!A<W-E=',\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/C$V,RPR,3@\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ-S,L-C`V/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y#=7)R96YT(&QI
M86)I;&ET:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XV+#`V
M,SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/C,L,#8T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@
M/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG
M;CTS1'1O<#Y,;VYG+71E<FT@9&5B="P@:6YC;'5D:6YG(&-U<G)E;G0@<&]R
M=&EO;CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^.3$L,3@V/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-S,L
M,C4V/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#Y/=&AE<B!L:6%B:6QI=&EE<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^,3DU/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^,34X/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y4;W1A;"!L:6%B:6QI=&EE<SPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Y-RPT-#0\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#<V+#0W.#QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O
M9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-C$S.&(R,V-?,V4R
M9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT96YT+4QO8V%T:6]N.B!F
M:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y.31C9#DX8SDT
M,2]7;W)K<VAE971S+U-H965T,S4N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%
M;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT
M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^
M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT
M/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$
M=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V
M92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*
M("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$5&0T%#/@T*("`@
M("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R
M;W=S<&%N/3-$,CX\<W1R;VYG/C(N(%9!4DE!0DQ%($E.5$5215-4($5.5$E4
M62`H1&5T86EL<R!.87)R871I=F4I("A54T0@)"D\8G(^/"]S=')O;F<^/"]T
M:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#(^.2!-;VYT
M:',@16YD960\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@
M("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CX\+W1H/@T*("`@
M("`@("`\=&@@8VQA<W,],T1T:#Y397`N(#,P+"`R,#$Q/&)R/CPO=&@^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/E9A<FEA8FQE($EN
M=&5R97-T($5N=&ET>2!$971A:6QS($YA<G)A=&EV93PO<W1R;VYG/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0<F]F;W)M82!N970@:6YC
M;VUE("AL;W-S*2!A=F%I;&%B;&4@=&\@8V]M;6]N('-T;V-K:&]L9&5R<SPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XD("@R,RPR.#@L,#`P*3QS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^)"`H
M,2PS,3$L,#`P*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^4')O9F]R;6$@:6YC;VUE("AL;W-S*2!P97(@<VAA<F4\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^)"`H,"XR,2D\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B0@*#`N,#,I
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^
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M("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$0V]N=&5N="U4>7!E
M(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R:7!T
M('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$;R!.
M;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-"B`@
M/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$240P14Q,
M04,^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P
M86X],T0Q(')O=W-P86X],T0Q/CQS=')O;F<^,RX@24Y614Y43U))15,@*$1E
M=&%I;',I("A54T0@)"D\8G(^26X@5&AO=7-A;F1S+"!U;FQE<W,@;W1H97)W
M:7-E('-P96-I9FEE9#PO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H/E-E<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@("`\=&@@
M8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$P/&)R/CPO=&@^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/DEN=F5N=&]R>2!B86QA;F-E<SPO
M<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y&:6YI
M<VAE9"!G;V]D<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`X
M+#`X.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/B0@.2PT,CD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/E=O<FL@:6X@<')O9W)E<W,\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C0L,38T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^-"PR.#0\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E)A=R!M871E<FEA;',\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L,C<S/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,2PS,S0\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D]T:&5R
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XX-#@\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#`X-#QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^5&]T
M86P\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,30L,S<T/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Q
M-BPQ,S$\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XD(#$W+#,P-CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?
M3F5X=%!A<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q
M#0I#;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?
M-&,U.5\Y.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T,S<N:'1M
M;`T*0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L
M90T*0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI
M(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS
M1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU
M=&8M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H
M;W<N:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP
M=#X\+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R
M="!I9#TS1$E$,$5/2T%#/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA
M<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/C0N($1%
M4DE6051)5D53("A$971A:6QS*2`H55-$("0I/&)R/DEN(%1H;W5S86YD<RP@
M=6YL97-S(&]T:&5R=VES92!S<&5C:69I960\+W-T<F]N9SX\+W1H/@T*("`@
M("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,CXQ,B!-;VYT:',@16YD
M960\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,CXY
M($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*
M("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$Q/&)R/CPO=&@^
M#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3`\8G(^/"]T
M:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CY#
M;VUM;V1I='D@8V]N=')A8W1S(%M-96UB97)=/&)R/DYO;B!$97-I9VYA=&5D
M($1E<FEV871I=F4@26YS=')U;65N=',@6TUE;6)E<ET\8G(^0V]S="!O9B!G
M;V]D<R!S;VQD(%M-96UB97)=/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H/E-E<"X@,S`L(#(P,3$\8G(^0V]M;6]D:71Y(&-O;G1R86-T<R!;
M365M8F5R73QB<CY.;VX@1&5S:6=N871E9"!$97)I=F%T:79E($EN<W1R=6UE
M;G1S(%M-96UB97)=/&)R/D-O<W0@;V8@9V]O9',@<V]L9"!;365M8F5R73QB
M<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY#
M;&%S<VEF:6-A=&EO;B!A;F0@86UO=6YT<R!O9B!T:&4@0V]M<&%N>2=S(&1E
M<FEV871I=F5S(&YO="!D97-I9VYA=&5D(&%S(&AE9&=I;F<@:6YS=')U;65N
M=',\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M4F5A;&EZ960@1V%I;G,@*$QO<W-E<RD\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/B0@,C<W/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^)"`T-C`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/E5N<F5A;&EZ960@1V%I;G,\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6T^)"`H.38I/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XD("@Q+#`T.2D\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B0@*#0W.2D\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B0@
M*#$R-BD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T
M86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T
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M;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT
M+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS
M8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J
M($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D
M/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)
M1#!%1$I!0SX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@
M8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SXT+B!$15))5D%4259%
M4R`H1&5T86EL<R!.87)R871I=F4I("A54T0@)"D\8G(^/"]S=')O;F<^/"]T
M:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#(^.2!-;VYT
M:',@16YD960\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N
M/3-$,3X\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@
M/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CX\+W1H/@T*("`@("`@
M("`\=&@@8VQA<W,],T1T:#Y397`N(#,P+"`R,#$Q/&)R/CPO=&@^#0H@("`@
M("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^061D:71I;VYA;"!D
M971A:6QS/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/E)E8V]G;FEZ960@9V%I;G,@86YD(&QO<W-E<R!D=64@=&\@8VAA;F=E
M(&EN(&9A:7(@=F%L=64\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/B0@,C`R+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/B0@,S,T+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^3F]T:6]N86P@8F%L86YC97,\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C(T+#$P,BPP,#`\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XY+#$X-BPP,#`\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/D%C8W)U960@;&EA8FEL:71I97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C(Y,2PP,#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XU,#`L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y/=&AE<B!!<W-E=',\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/B0@-3$T+#`P,#QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,C0T+#`P,#QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\
M+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-C$S.&(R,V-?
M,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT96YT+4QO8V%T:6]N
M.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y.31C9#DX
M8SDT,2]7;W)K<VAE971S+U-H965T,SDN:'1M;`T*0V]N=&5N="U4<F%N<V9E
M<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T
M97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE
M860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT
M96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E
M/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E
M;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y
M/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$4S0T%%/@T*
M("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$
M,2!R;W=S<&%N/3-$,3X\<W1R;VYG/C4N($1%0E0@*$1E=&%I;',I("A54T0@
M)"D\8G(^26X@5&AO=7-A;F1S+"!U;FQE<W,@;W1H97)W:7-E('-P96-I9FEE
M9#PO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@
M,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C
M+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$
M96,N(#,Q+"`R,#$P/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#X\<W1R;VYG/DQO;F<M=&5R;2!B;W)R;W=I;F=S(&%R92!S=6UM87)I
M>F5D(&%S(&9O;&QO=W,\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^2VEN97)G>2!O<&5R871I;F<@;&EN92!O9B!C<F5D:70\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,3<L,34X/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`R,"PT
M,S(\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/E-E;FEO<B!U;G-E8W5R960@;F]T97,\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/C$P+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@
M("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3F]T92!P87EA8FQE
M('1O(')E;&%T960@<&%R='D\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C<U,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C<U,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^4&QA;G0@3W=N97(G<R!T97)M(&1E8G0\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C4R+#8X-SQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C4Q+#(W.3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4&QA;G0@3W=N
M97(G<R!O<&5R871I;F<@;&EN92!O9B!C<F5D:70\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C,X+#4P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C(Q+#DW.#QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3&]N9RUT97)M($1E8G0L
M(&-U<G)E;G0@86YD(&YO;BUC=7)R96YT/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XQ,3DL,#DU/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^.30L-#,Y/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y,97-S('-H;W)T+71E<FT@<&]R
M=&EO;CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-3`L,3`U*3QS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#<U
M,"D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/DQO;F<M=&5R;2!D96)T/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XD(#8X+#DY,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/B0@.3,L-C@Y/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^)"`X-"PY.#$\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H
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M:&%R<V5T/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-
M151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT
M+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V
M87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#
M;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B
M;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%,TY!0SX-"B`@("`@(#QT<CX-
M"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A;CTS1#$@<F]W<W!A;CTS
M1#(^/'-T<F]N9SXU+B!$14)4("A$971A:6QS($YA<G)A=&EV92D@*%531"`D
M*3QB<CX\+W-T<F]N9SX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C
M;VQS<&%N/3-$,CXY($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y397`N(#,P+"`R
M,#$R/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@,S`L
M(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E)E
M8V]R9&5D(&EN=&5R97-T(&YO=&5S('!A>6%B;&4L(')E;&%T960@<&%R='D\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@-#4L,#`P/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`V,"PP
M,#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R:#X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/DMI;F5R9WD\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M56YU<V5D(&%V86EL86)I;&ET>2!U;F1E<B!T:&4@<F5V;VQV:6YG(&-R961I
M="!F86-I;&ET>3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-"PR
M,#`L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@
M/'1R(&-L87-S/3-$<F@^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG
M;CTS1'1O<#Y0;&%N="!/=VYE<G,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^56YU<V5D(&%V86EL86)I;&ET>2!U;F1E<B!T:&4@<F5V;VQV
M:6YG(&-R961I="!F86-I;&ET>3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^-S`P+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^26YC<F5A<V5D(&)O<G)O=VEN9W,@=6YD97(@;&EN
M92!O9B!C<F5D:70\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@
M,38L-3(R+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X
M=%!A<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#
M;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U
M.5\Y.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T-#$N:'1M;`T*
M0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*
M0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*
M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O
M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M
M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N
M:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\
M+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I
M9#TS1$E$,$5+0D%#/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,]
M,T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/C8N($-/34U/
M3B!35$]#2R!!3D0@5T%24D%.5%,@*$1E=&%I;',@3F%R<F%T:79E*2`H55-$
M("0I/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H
M(&-O;'-P86X],T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@,S`L
M(#(P,3(\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS
M=')O;F<^3F]T97,@=&\@1FEN86YC:6%L(%-T871E;65N=',\+W-T<F]N9SX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@
M("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^17AE<F-I<V5D('=A
M<G)A;G1S('=I=&@@<F5S<&5C="!O9B!C;VUM;VX@<W1O8VL@;VX@82!C87-H
M;&5S<R!E>&5R8VES92!B87-I<R`M('-H87)E<SPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^,C4R+#$P,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3F5T('-H87)E<R!O9B!C;VUM;VX@
M<W1O8VL@:7-S=65D(&]N(&$@8V%S:&QE<W,@8F%S:7,@+2!S:&%R97,\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$W,BPR-CD\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E=A<G)A;G0@
M:&]L9&5R<R!E>&5R8VES960@=V%R<F%N=',@9F]R(&-A<V@@+2!S:&%R97,\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C4P+#`P,#QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^5V%R<F%N
M="!H;VQD97)S(&5X97)C:7-E9"!W87)R86YT<R!F;W(@8V%S:"`M(&%M;W5N
M=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`R-BPU,#`\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@
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M96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N
M=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP
M93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!2
M96UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D
M>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%-$=!0SX-
M"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A;CTS
M1#$@<F]W<W!A;CTS1#$^/'-T<F]N9SXW+B!#3TU-251-14Y44R!!3D0@0T].
M5$E.1T5.0TE%4R`H1&5T86EL<RD@*%531"`D*3QB<CY);B!4:&]U<V%N9',L
M('5N;&5S<R!O=&AE<G=I<V4@<W!E8VEF:65D/"]S=')O;F<^/"]T:#X-"B`@
M("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CX\+W1H/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4V%L97,@8V]M;6ET;65N=',@
M86UO=6YT+"!F:7AE9"!P<FEC92!C;VYT<F%C=',\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/B0@-3DQ/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F@^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%=&AA;F]L365M8F5R/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E-A;&5S(&-O;6UI=&UE;G1S(&%M
M;W5N="P@9FEX960@<')I8V4@8V]N=')A8W1S/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XW,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')H/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^5V5T1&ES=&EL;&5R<T=R86EN365M8F5R/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E-A;&5S(&-O;6UI=&UE
M;G1S(&%M;W5N="P@9FEX960@<')I8V4@8V]N=')A8W1S/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XD(#4R,3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^
M#0H-"BTM+2TM+3U?3F5X=%!A<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY,CA?
M,3DY-&-D.3AC.30Q#0I#;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q
M,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE971S
M+U-H965T-#,N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O
M=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S
M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@
M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M
M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R
M:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE
M;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C
M;&%S<STS1')E<&]R="!I9#TS1$E$,$4R2#X-"B`@("`@(#QT<CX-"B`@("`@
M("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#$^/'-T
M<F]N9SXW+B!#3TU-251-14Y44R!!3D0@0T].5$E.1T5.0TE%4R`H1&5T86EL
M<R!.87)R871I=F4I("A%=&AA;F]L365M8F5R+"!54T0@)"D\8G(^/"]S=')O
M;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q
M,CQB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')H
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^171H86YO
M;$UE;6)E<CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y&:7AE
M9"UP<FEC92!P=7)C:&%S92!C;VYT<F%C=',@=&\@<'5R8VAA<V4L(&5T:&%N
M;VP\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,30L,34S+#`P
M,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE
M/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-C$S
M.&(R,V-?,V4R9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT96YT+4QO
M8V%T:6]N.B!F:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y
M.31C9#DX8SDT,2]7;W)K<VAE971S+U-H965T-#0N:'1M;`T*0V]N=&5N="U4
M<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4
M>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-
M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP
M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP
M="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@
M3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@
M(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$4T
M,D)'/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS
M<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/C@N($9!25(@5D%,544@345!
M4U5214U%3E13("A$971A:6QS*2`H55-$("0I/&)R/DEN(%1H;W5S86YD<RP@
M97AC97!T(%!E<B!3:&%R92!D871A+"!U;FQE<W,@;W1H97)W:7-E('-P96-I
M9FEE9#PO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O
M;'-P86X],T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H
M/E-E<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$
M=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^/'-T<F]N9SY3:6=N:69I8V%N="!A<W-U;7!T:6]N<R!U<V5D
M(&EN('1H92!V86QU871I;VYS/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/D9A:7(@=F%L=64\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/B0@-BPT.34\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XD(#$L.3(Q/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F@^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y787)R86YT<R!I<W-U960@
M:6X@3V-T;V)E<B`R,#$P(%M-96UB97)=/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/CQS=')O;F<^4VEG;FEF:6-A;G0@87-S=6UP=&EO;G,@
M=7-E9"!I;B!T:&4@=F%L=6%T:6]N<SPO<W1R;VYG/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\
M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'!L('9A;&EG;CTS1'1O<#Y%>&5R8VES92!P<FEC93PO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P+C$R/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P+C0U/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y6;VQA=&EL:71Y
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XW-2XV,"4\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XV."XP,"4\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/E)I<VL@9G)E92!I;G1E<F5S="!R871E/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XP+C8R)3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C$N,#DE/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y497)M("AY96%R<RD\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/C4@>65A<G,@,2!M;VYT:"`W(&1A>7,\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#XU
M('EE87)S(#$Q(&UO;G1H<R`R(&1A>7,\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DUA<FME=&%B:6QI='D@9&ES8V]U
M;G0\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C0X+C`P)3QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C0W+C0P
M)3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^1F%I<B!V86QU93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M-#,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XR,C8\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R:#X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/E=A<G)A;G1S(&ES<W5E9"!I;B!$96-E;6)E<B`R,#$Q(%M-96UB
M97)=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^
M4VEG;FEF:6-A;G0@87-S=6UP=&EO;G,@=7-E9"!I;B!T:&4@=F%L=6%T:6]N
M<SPO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%
M>&5R8VES92!P<FEC93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M)"`P+C@T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^)"`Q+C4\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/E9O;&%T:6QI='D\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C<W+C<P)3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C8X+C`P)3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4FES:R!F<F5E(&EN=&5R97-T(')A
M=&4\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C`N-#<E/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,"XX,R4\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/E1E<FT@*'EE87)S*3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M-"!Y96%R<R`S(&UO;G1H<R`Q-R!D87ES/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'1E>'0^-"!Y96%R<R`Q,2!M;VYT:',@,38@
M9&%Y<SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^36%R:V5T86)I;&ET>2!D:7-C;W5N=#PO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^-34N.3`E/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^-3(N,#`E/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y&86ER('9A;'5E/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU.#4\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#8Y-3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')H/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^5V%R<F%N=',@
M,2!)<W-U960@2G5L>2`R,#$R(%M-96UB97)=/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^4VEG;FEF:6-A;G0@87-S=6UP=&EO
M;G,@=7-E9"!I;B!T:&4@=F%L=6%T:6]N<SPO<W1R;VYG/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%>&5R8VES92!P<FEC93PO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P+C4\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E9O;&%T:6QI='D\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C<V+C@P)3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4FES:R!F<F5E
M(&EN=&5R97-T(')A=&4\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/C`N-C(E/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@
M/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG
M;CTS1'1O<#Y497)M("AY96%R<RD\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/C0@>65A<G,@.2!M;VYT:',@,3`@9&%Y<SQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@
M("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^36%R:V5T86)I;&ET
M>2!D:7-C;W5N=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-3<N
M-3`E/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#Y&86ER('9A;'5E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XS+#,U,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')H/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^5V%R<F%N=',@,B!)<W-U960@2G5L>2`R,#$R(%M-96UB97)=
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^4VEG
M;FEF:6-A;G0@87-S=6UP=&EO;G,@=7-E9"!I;B!T:&4@=F%L=6%T:6]N<SPO
M<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%>&5R
M8VES92!P<FEC93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P
M+C0S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#Y6;VQA=&EL:71Y/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XW,RXY,"4\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/E)I<VL@9G)E92!I;G1E<F5S="!R871E/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XP+C$W)3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^5&5R;2`H>65A<G,I/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#XQ('EE87(@,R!M;VYT:',@,2!D
M87D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/DUA<FME=&%B:6QI='D@9&ES8V]U;G0\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/C4W+C4P)3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^1F%I<B!V86QU93PO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^.#4X/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F@^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y787)R86YT<R!)<W-U960@4V5P=&5M
M8F5R(#(P,3(@6TUE;6)E<ET\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^/'-T<F]N9SY3:6=N:69I8V%N="!A<W-U;7!T:6]N<R!U<V5D(&EN
M('1H92!V86QU871I;VYS/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/D5X97)C:7-E('!R:6-E/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XD(#`N-3D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/E9O;&%T:6QI='D\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/C<T+C$P)3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4FES:R!F<F5E(&EN=&5R97-T
M(')A=&4\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C`N,S$E/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y4
M97)M("AY96%R<RD\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/C,@
M>65A<G,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/DUA<FME=&%B:6QI='D@9&ES8V]U;G0\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C4X+C4P)3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^1F%I<B!V86QU93PO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Q+#8U.#QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT
M;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-C$S.&(R,V-?,V4R9%\T8S4Y7SDY
M,CA?,3DY-&-D.3AC.30Q#0I#;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z
M+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y.31C9#DX8SDT,2]7;W)K<VAE
M971S+U-H965T-#4N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@
M<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H
M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%
M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O
M:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A
M<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O
M;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L
M92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$5$34%%/@T*("`@("`@/'1R/@T*
M("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$
M,CX\<W1R;VYG/C@N($9!25(@5D%,544@345!4U5214U%3E13("A$971A:6QS
M(#$I("A,979E;"`S(%M-96UB97)=+"!54T0@)"D\8G(^26X@5&AO=7-A;F1S
M+"!U;FQE<W,@;W1H97)W:7-E('-P96-I9FEE9#PO<W1R;VYG/CPO=&@^#0H@
M("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0S/C,@36]N=&AS($5N
M9&5D/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^
M.2!-;VYT:',@16YD960\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-
M"B`@("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB<CX\+W1H
M/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y*=6XN(#,P+"`R,#$R/&)R/CPO
M=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/DUA<BX@,S$L(#(P,3(\8G(^
M/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,CQB
M<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')H/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3&5V96P@,R!;
M365M8F5R73PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R
M;VYG/D9A:7(@5F%L=64L($QI86)I;&ET:65S($UE87-U<F5D(&]N(%)E8W5R
M<FEN9R!"87-I<RP@56YO8G-E<G9A8FQE($EN<'5T(%)E8V]N8VEL:6%T:6]N
M(%M,:6YE($ET96US73PO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y"96=I;FYI;F<@0F%L86YC93PO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^)"`U-3<\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XD(#$L.#0R/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Q+#DR,3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,2PY,C$\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E=A
M<G)A;G0@97AE<F-I<V5S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M/B@Q,3(I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;3XH,3$R*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^061J=7-T;65N=',@=&\@9F%I<B!V86QU92!F;W(@=&AE
M('!E<FEO9#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^.3`P/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,2PR
M.#4I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^,S,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/D5N9&EN9R!"86QA;F-E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XV+#0Y-3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/C4U-SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C$L.#0R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^-BPT.34\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DIU;'D@3V9F97)I;F<\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C,L,S@P/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,RPS.#`\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E-E<'1E
M;6)E<B!/9F9E<FEN9SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M)"`Q+#8U.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/B0@,2PV-3@\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]
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M:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78]
M,T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]
M=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13
M:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I
M<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O
M<G0@:60],T1)1#!%5%!!23X-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&P@8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#$^/'-T<F]N9SXX+B!&
M04E2(%9!3%5%($U%05-54D5-14Y44R`H1&5T86EL<R`R*2`H55-$("0I/&)R
M/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@
M,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C
M+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^/'-T<F]N9SY,:6%B:6QI=&EE<SH\+W-T<F]N9SX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^3&EA8FEL:71I97,\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/B0@-BPW.#8L,#`P/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`R+#0R,2PP,#`\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS
M=')O;F<^07-S971S.CPO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y!<W-E=',\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C4Q-"PP,#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XR-#0L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\
M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F@^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'!L('9A;&EG;CTS1'1O<#Y#;VUM;V1I='D@0V]N=')A8W1S(%M-96UB
M97)=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^
M3&EA8FEL:71I97,Z/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/DQI86)I;&ET:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XR.3$L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^-3`P+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY!<W-E=',Z/"]S=')O
M;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%S<V5T<SPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-3$T+#`P,#QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C(T-"PP,#`\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R:#X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/E=A<G)A;G1S(%M-96UB97)=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/CQS=')O;F<^3&EA8FEL:71I97,Z/"]S=')O;F<^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQI86)I;&ET:65S/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M<#XV+#0Y-2PP,#`\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#DR,2PP,#`\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R:#X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQE
M=F5L(#,@6TUE;6)E<ET\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^/'-T<F]N9SY,:6%B:6QI=&EE<SH\+W-T<F]N9SX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^3&EA8FEL:71I97,\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/C8L-#DU+#`P,#QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L.3(Q+#`P,#QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N
M9SY!<W-E=',Z/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/D%S<V5T<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M)FYB<W`[)FYB<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^)FYB<W`[)FYB<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F@^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y,979E;"`S(%M-96UB97)=('P@
M0V]M;6]D:71Y($-O;G1R86-T<R!;365M8F5R73PO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/DQI86)I;&ET:65S.CPO<W1R;VYG
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y,:6%B:6QI=&EE
M<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^)FYB<W`[)FYB<W`[
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M)FYB<W`[)FYB<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#X\<W1R;VYG/D%S<V5T<SH\+W-T<F]N9SX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^07-S971S/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#XF;F)S<#LF;F)S<#L\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#XF;F)S<#LF;F)S<#L\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R:#X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/DQE=F5L(#,@6TUE;6)E<ET@?"!787)R86YT<R!;365M8F5R73PO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/DQI86)I;&ET:65S
M.CPO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y,
M:6%B:6QI=&EE<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-BPT
M.34L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^,2PY,C$L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F@^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y,979E;"`Q(%M-96UB97)=/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^3&EA8FEL:71I97,Z/"]S
M=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQI86)I
M;&ET:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR.3$L,#`P
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M-3`P+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^/'-T<F]N9SY!<W-E=',Z/"]S=')O;F<^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%S<V5T<SPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^-3$T+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C(T-"PP,#`\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R:#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQE=F5L(#$@6TUE;6)E
M<ET@?"!#;VUM;V1I='D@0V]N=')A8W1S(%M-96UB97)=/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^3&EA8FEL:71I97,Z/"]S
M=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQI86)I
M;&ET:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR.3$L,#`P
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M-3`P+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^/'-T<F]N9SY!<W-E=',Z/"]S=')O;F<^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%S<V5T<SPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^-3$T+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C(T-"PP,#`\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R:#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQE=F5L(#$@6TUE;6)E
M<ET@?"!787)R86YT<R!;365M8F5R73PO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#X\<W1R;VYG/DQI86)I;&ET:65S.CPO<W1R;VYG/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y,:6%B:6QI=&EE<SPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^)FYB<W`[)FYB<W`[/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^)FYB<W`[
M)FYB<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@
M/'1R(&-L87-S/3-$<F@^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG
M;CTS1'1O<#Y,979E;"`R(%M-96UB97)=/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/CQS=')O;F<^3&EA8FEL:71I97,Z/"]S=')O;F<^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQI86)I;&ET:65S/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#XF;F)S<#LF;F)S<#L\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#XF;F)S
M<#LF;F)S<#L\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/CQS=')O;F<^07-S971S.CPO<W1R;VYG/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y!<W-E=',\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')H/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3&5V
M96P@,B!;365M8F5R72!\($-O;6UO9&ET>2!#;VYT<F%C=',@6TUE;6)E<ET\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@
M("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY,:6%B
M:6QI=&EE<SH\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^3&EA8FEL:71I97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY!<W-E=',Z
M/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%S
M<V5T<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^)FYB<W`[)FYB
M<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^)FYB<W`[)FYB<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F@^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y,979E;"`R(%M-96UB97)=('P@5V%R<F%N=',@
M6TUE;6)E<ET\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T
M<F]N9SY,:6%B:6QI=&EE<SH\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^3&EA8FEL:71I97,\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O
M9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-C$S.&(R,V-?,V4R
M9%\T8S4Y7SDY,CA?,3DY-&-D.3AC.30Q#0I#;VYT96YT+4QO8V%T:6]N.B!F
M:6QE.B\O+T,Z+S8Q,SAB,C-C7S-E,F1?-&,U.5\Y.3(X7S$Y.31C9#DX8SDT
M,2]7;W)K<VAE971S+U-H965T-#<N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%
M;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT
M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^
M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT
M/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$
M=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V
M92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*
M("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$4V1D%%/@T*("`@
M("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R
M;W=S<&%N/3-$,CX\<W1R;VYG/CDN($5!4DY)3D=3(%!%4B!32$%212`H1&5T
M86EL<RD@*%531"`D*3QB<CY);B!4:&]U<V%N9',L(&5X8V5P="!3:&%R92!D
M871A+"!U;FQE<W,@;W1H97)W:7-E('-P96-I9FEE9#PO<W1R;VYG/CPO=&@^
M#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0R/CD@36]N=&AS
M($5N9&5D/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS
M1#(^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@,S`L(#(P,3(\8G(^
M/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^4V5P+B`S,"P@,C`Q,3QB
M<CX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$Q
M/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P
M,3`\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O
M;F<^16%R;FEN9W,@4&5R(%-H87)E($1E=&%I;',\+W-T<F]N9SX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3F5T(&QO<W,O26YC;VUE/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B0@*#$S+#4U,RD\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#4L,3(P
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M)"`S+#`W-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/B0@-S,L.#DR/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y,97-S.B!0<F5F97)R960@<W1O8VL@9&EV:61E
M;F1S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Y-#DI/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH.30V*3QS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M/'-T<F]N9SY"87-I8R!A;F0@9&EL=71E9"!L;W-S('!E<B!S:&%R93H\+W-T
M<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3&]S<R])
M;F-O;64@879A:6QA8FQE('1O(&-O;6UO;B!S=&]C:VAO;&1E<G,\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6T^)"`H,30L-3`R*3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@-"PQ-S0\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D)A
M<VEC(&%N9"!D:6QU=&5D+"!S:&%R97,\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/CDV+#(P,SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C(Q+#,R.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^0F%S:6,@86YD(&1I;'5T960L('!E
M<B!S:&%R93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XD("@P+C$U
M*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/B0@,"XR/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^)"`P+C`U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^)"`V+C<V/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\
M+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM
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M87-C:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q
M=6EV/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R
M<V5T/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C
M/3-$4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO
M<V-R:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$
M<F5P;W)T(&ED/3-$240P159%/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@
M8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/CDN
M($5!4DY)3D=3(%!%4B!32$%212`H1&5T86EL<R!.87)R871I=F4I/&)R/CPO
M<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X]
M,T0Q/CD@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E<"X@,S`L(#(P,3$\8G(^
M/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^16%R
M;FEN9W,@4&5R(%-H87)E($1E=&%I;',@3F%R<F%T:79E/"]S=')O;F<^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E!O=&5N=&EA;&QY(&1I
M;'5T:79E('=E:6=H=&5D+6%V97)A9V4@<VAA<F5S(&9R;VT@8V]N=F5R=&EB
M;&4@<V5C=7)I=&EE<R!N;W0@8V]N<VED97)E9"!I;B!C86QC=6QA=&EO;B!O
M9B!D:6QU=&5D('-H87)E<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^,RPS,#`L,#`P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].
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M#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$
M0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T
M9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO
M=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T
M/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T
M(&ED/3-$240P135'/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,]
M,T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,3X\<W1R;VYG/C$P+B!214Q!
M5$5$(%!!4E19(%1204Y304-424].4R`H1&5T86EL<R!.87)R871I=F4I("A5
M4T0@)"D\8G(^26X@5&AO=7-A;F1S+"!U;FQE<W,@;W1H97)W:7-E('-P96-I
M9FEE9#PO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E
M<"X@,S`L(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^
M1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^/'-T<F]N9SY296QA=&5D(%!A<G1Y(%1R86YS86-T:6]N<R!$971A
M:6QS($YA<G)A=&EV93PO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y.;W1E('!A>6%B;&4@=&\@:71S($-H:65F($5X96-U=&EV
M92!/9F9I8V5R/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#<U
M,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/B0@-S4P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO
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M:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#`Q+FAT;6PB+SX-"B`\
M;SI&:6QE($A2968],T0B4VAE970P,BYH=&UL(B\^#0H@/&\Z1FEL92!(4F5F
M/3-$(E-H965T,#,N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#`T
M+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970P-2YH=&UL(B\^#0H@
M/&\Z1FEL92!(4F5F/3-$(E-H965T,#8N:'1M;"(O/@T*(#QO.D9I;&4@2%)E
M9CTS1")3:&5E=#`W+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970P
M."YH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T,#DN:'1M;"(O/@T*
M(#QO.D9I;&4@2%)E9CTS1")3:&5E=#$P+FAT;6PB+SX-"B`\;SI&:6QE($A2
M968],T0B4VAE970Q,2YH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T
M,3(N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#$S+FAT;6PB+SX-
M"B`\;SI&:6QE($A2968],T0B4VAE970Q-"YH=&UL(B\^#0H@/&\Z1FEL92!(
M4F5F/3-$(E-H965T,34N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E
M=#$V+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970Q-RYH=&UL(B\^
M#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T,3@N:'1M;"(O/@T*(#QO.D9I;&4@
M2%)E9CTS1")3:&5E=#$Y+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE
M970R,"YH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T,C$N:'1M;"(O
M/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#(R+FAT;6PB+SX-"B`\;SI&:6QE
M($A2968],T0B4VAE970R,RYH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H
M965T,C0N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#(U+FAT;6PB
M+SX-"B`\;SI&:6QE($A2968],T0B4VAE970R-BYH=&UL(B\^#0H@/&\Z1FEL
M92!(4F5F/3-$(E-H965T,C<N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3
M:&5E=#(X+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970R.2YH=&UL
M(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T,S`N:'1M;"(O/@T*(#QO.D9I
M;&4@2%)E9CTS1")3:&5E=#,Q+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B
M4VAE970S,BYH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T,S,N:'1M
M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#,T+FAT;6PB+SX-"B`\;SI&
M:6QE($A2968],T0B4VAE970S-2YH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$
M(E-H965T,S8N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#,W+FAT
M;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970S."YH=&UL(B\^#0H@/&\Z
M1FEL92!(4F5F/3-$(E-H965T,SDN:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS
M1")3:&5E=#0P+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970T,2YH
M=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T-#(N:'1M;"(O/@T*(#QO
M.D9I;&4@2%)E9CTS1")3:&5E=#0S+FAT;6PB+SX-"B`\;SI&:6QE($A2968]
M,T0B4VAE970T-"YH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T-#4N
M:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#0V+FAT;6PB+SX-"B`\
M;SI&:6QE($A2968],T0B4VAE970T-RYH=&UL(B\^#0H@/&\Z1FEL92!(4F5F
M/3-$(E-H965T-#@N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#0Y
M+FAT;6PB+SX-"CPO>&UL/@T*+2TM+2TM/5].97AT4&%R=%\V,3,X8C(S8U\S
>93)D7S1C-3E?.3DR.%\Q.3DT8V0Y.&,Y-#$M+0T*
`
end

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>30
<FILENAME>R43.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E2H">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>7. COMMITMENTS AND CONTINGENCIES (Details Narrative) (EthanolMember, USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">EthanolMember</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted', window );">Fixed-price purchase contracts to purchase, ethanol</a></td>
        <td class="nump">$ 14,153,000<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The floor amount as of the balance sheet date that the entity must expend to satisfy the terms of disclosed arrangements (excluding long-term commitments) in which the entity has agreed to expend funds to procure goods or services from one or more suppliers, other than under a long-term purchase commitment or an unconditional purchase obligation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 17<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.17)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.(a)(19))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 25<br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SignificantPurchaseCommitmentRemainingMinimumAmountCommitted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>31
<FILENAME>R29.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>5. DEBT (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_DebtTablesAbstract', window );"><strong>Debt Tables</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Long Term Debt</a></td>
        <td class="text"><p style="margin: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">September 30, <br />2012</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">December 31, <br />
    2011</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 60%; text-align: left"><font style="font-size: 8pt">Kinergy operating line of credit</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right"><font style="font-size: 8pt">17,158</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right"><font style="font-size: 8pt">20,432</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Senior unsecured notes</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">10,000</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left"><font style="font-size: 8pt">Note payable to related party</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">750</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">750</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Plant Owners&#146; term debt</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">52,687</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">51,279</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Plant Owners&#146; operating line of credit</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">38,500</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">21,978</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">119,095</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">94,439</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Less short-term portion</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(50,105</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(750</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">Long-term debt</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">68,990</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">93,689</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>


<p style="margin: 0pt"><font style="font-size: 8pt">&#160;</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_DebtTablesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_DebtTablesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 7<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21521-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 30<br><br> -Section 55<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6584090&amp;loc=d3e28878-108400<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(e),(f))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 470<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21538-112644<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ScheduleOfDebtInstrumentsTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>4. DERIVATIVES (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_DerivativesTablesAbstract', window );"><strong>Derivatives Tables</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock', window );">Derivatives not designated as hedging instruments</a></td>
        <td class="text"><p style="margin: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Realized Gains</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Nine Months Ended
    September 30,</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 8pt">Type of Instrument</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1pt solid"><font style="font-size: 8pt">Statements of Operations Location</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2012</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="background-color: rgb(238,238,238); vertical-align: bottom">
    <td style="padding-bottom: 2.5pt; width: 30%"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="padding-bottom: 2.5pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt; width: 35%"><font style="font-size: 8pt">Cost of goods sold</font></td>
    <td style="padding-bottom: 2.5pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right; width: 11%"><font style="font-size: 8pt">277</font></td>
    <td style="text-align: left; padding-bottom: 2.5pt; width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right; width: 11%"><font style="font-size: 8pt">460</font></td>
    <td style="text-align: left; padding-bottom: 2.5pt; width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Unrealized Losses</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Nine Months Ended
    September 30,</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 8pt">Type of Instrument</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1pt solid"><font style="font-size: 8pt">Statements of Operations Location</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2012</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="background-color: rgb(238,238,238); vertical-align: bottom">
    <td style="padding-bottom: 1pt; width: 30%"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="padding-bottom: 1pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; width: 35%"><font style="font-size: 8pt">Cost of goods sold</font></td>
    <td style="padding-bottom: 1pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1pt solid; text-align: left; width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1pt solid; text-align: right; width: 11%"><font style="font-size: 8pt">(479</font></td>
    <td style="text-align: left; padding-bottom: 1pt; width: 1%"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1pt solid; text-align: left; width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1pt solid; text-align: right; width: 11%"><font style="font-size: 8pt">(126</font></td>
    <td style="text-align: left; padding-bottom: 1pt; width: 1%"><font style="font-size: 8pt">)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt; background-color: white">&#160;</font></p>



<p style="margin: 0pt"><font style="font-size: 8pt">&#160;</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_DerivativesTablesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_DerivativesTablesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4C<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5624171-113959<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E42BG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>8. FAIR VALUE MEASUREMENTS (Details) (USD $)<br>In Thousands, except Per Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract', window );"><strong>Significant assumptions used in the valuations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_WarrantLiabilities', window );">Fair value</a></td>
        <td class="nump">$ 6,495<span></span></td>
        <td class="nump">$ 1,921<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Warrants issued in October 2010 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract', window );"><strong>Significant assumptions used in the valuations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExercisePrice', window );">Exercise price</a></td>
        <td class="nump">$ 0.12<span></span></td>
        <td class="nump">$ 0.45<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Volatility</a></td>
        <td class="nump">75.60%<span></span></td>
        <td class="nump">68.00%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Risk free interest rate</a></td>
        <td class="nump">0.62%<span></span></td>
        <td class="nump">1.09%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
        <td class="text">5 years 1 month 7 days<span></span></td>
        <td class="text">5 years 11 months 2 days<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueAssumptionsMarketabilityDiscount', window );">Marketability discount</a></td>
        <td class="nump">48.00%<span></span></td>
        <td class="nump">47.40%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_WarrantLiabilities', window );">Fair value</a></td>
        <td class="nump">43<span></span></td>
        <td class="nump">226<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Warrants issued in December 2011 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract', window );"><strong>Significant assumptions used in the valuations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExercisePrice', window );">Exercise price</a></td>
        <td class="nump">$ 0.84<span></span></td>
        <td class="nump">$ 1.5<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Volatility</a></td>
        <td class="nump">77.70%<span></span></td>
        <td class="nump">68.00%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Risk free interest rate</a></td>
        <td class="nump">0.47%<span></span></td>
        <td class="nump">0.83%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
        <td class="text">4 years 3 months 17 days<span></span></td>
        <td class="text">4 years 11 months 16 days<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueAssumptionsMarketabilityDiscount', window );">Marketability discount</a></td>
        <td class="nump">55.90%<span></span></td>
        <td class="nump">52.00%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_WarrantLiabilities', window );">Fair value</a></td>
        <td class="nump">585<span></span></td>
        <td class="nump">1,695<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Warrants 1 Issued July 2012 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract', window );"><strong>Significant assumptions used in the valuations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExercisePrice', window );">Exercise price</a></td>
        <td class="nump">$ 0.5<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Volatility</a></td>
        <td class="nump">76.80%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Risk free interest rate</a></td>
        <td class="nump">0.62%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
        <td class="text">4 years 9 months 10 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueAssumptionsMarketabilityDiscount', window );">Marketability discount</a></td>
        <td class="nump">57.50%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_WarrantLiabilities', window );">Fair value</a></td>
        <td class="nump">3,351<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Warrants 2 Issued July 2012 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract', window );"><strong>Significant assumptions used in the valuations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExercisePrice', window );">Exercise price</a></td>
        <td class="nump">$ 0.43<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Volatility</a></td>
        <td class="nump">73.90%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Risk free interest rate</a></td>
        <td class="nump">0.17%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
        <td class="text">1 year 3 months 1 day<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueAssumptionsMarketabilityDiscount', window );">Marketability discount</a></td>
        <td class="nump">57.50%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_WarrantLiabilities', window );">Fair value</a></td>
        <td class="nump">858<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Warrants Issued September 2012 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract', window );"><strong>Significant assumptions used in the valuations</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExercisePrice', window );">Exercise price</a></td>
        <td class="nump">$ 0.59<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate', window );">Volatility</a></td>
        <td class="nump">74.10%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate', window );">Risk free interest rate</a></td>
        <td class="nump">0.31%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssumptionsExpectedTerm', window );">Term (years)</a></td>
        <td class="text">3 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueAssumptionsMarketabilityDiscount', window );">Marketability discount</a></td>
        <td class="nump">58.50%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_WarrantLiabilities', window );">Fair value</a></td>
        <td class="nump">$ 1,658<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_FairValueAssumptionsMarketabilityDiscount">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair Value Assumptions Marketability Discount.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_FairValueAssumptionsMarketabilityDiscount</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_WarrantLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Warrant liabilities</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_WarrantLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueAssumptionsAndMethodologyForAssetsAndLiabilitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Agreed upon price for the exchange of the underlying asset.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueAssumptionsExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedTerm">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueAssumptionsExpectedTerm</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsExpectedVolatilityRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueAssumptionsExpectedVolatilityRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssumptionsRiskFreeInterestRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Risk-free interest rate assumption used in valuing an instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueAssumptionsRiskFreeInterestRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>7. COMMITMENTS AND CONTINGENCIES (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_CommitmentsAndContingenciesTablesAbstract', window );"><strong>Commitments And Contingencies Tables</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_SalesCommitmentsTextBlock', window );">Sales commitments</a></td>
        <td class="text"><p style="margin: 0pt"><font style="font-size: 8pt">&#160;<font style="background-color: white">&#160;</font></font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Fixed-Price Contracts</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 80%"><font style="font-size: 8pt">Ethanol</font></td>
    <td style="width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 15%; text-align: right"><font style="font-size: 8pt">70</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">WDG</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">521</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="padding-bottom: 2.5pt; text-indent: 13.7pt"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">591</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><i>&#160;</i></font></p>



<p style="margin: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Indexed-Price Contracts
    <br />(Volume)</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 80%; text-align: left; padding-left: 4.3pt"><font style="font-size: 8pt">Ethanol (gallons)</font></td>
    <td style="width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 15%; text-align: right"><font style="font-size: 8pt">97,708</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-left: 4.3pt"><font style="font-size: 8pt">WDG (tons)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">55</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>



<p style="margin: 0pt"></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_CommitmentsAndContingenciesTablesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_CommitmentsAndContingenciesTablesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_SalesCommitmentsTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sales Commitments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_SalesCommitmentsTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>35
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EHH">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>8. FAIR VALUE MEASUREMENTS (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueMeasurementsTablesAbstract', window );"><strong>Fair Value Measurements Tables</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByBalanceSheetGroupingTextBlock', window );">Significant assumptions used in the valuations</a></td>
        <td class="text"><p style="margin: 0pt"><font style="font-size: 8pt">&#160;&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Original Issue<br /> Date</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Price</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Volatility</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Risk<br />
    Free Int<br /> Rate</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Term<br />
    (yrs)</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Marketability<br /> Discount</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">&#160;
    Fair Value</font></td>
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 34%; text-align: right"><font style="font-size: 8pt">October 2010</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">0.12</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">75.6%</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">0.62%</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">5.10</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">48.0%</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">43</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: right"><font style="font-size: 8pt">December 2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.84</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">77.7%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.47%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4.21</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">55.9%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">585</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: right"><font style="font-size: 8pt">July 2012</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.50</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">76.8%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.62%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4.76</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">57.5%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,351</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: right"><font style="font-size: 8pt">July 2012</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.43</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">73.9%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.17%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1.26</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">57.5%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">858</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: right"><font style="font-size: 8pt">September 2012</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.59</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">74.1%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.31%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3.00</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">58.5%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left; border-bottom: Black 1pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right; border-bottom: Black 1pt solid"><font style="font-size: 8pt">1,658</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left; border-bottom: Black 2.5pt double"><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right; border-bottom: Black 2.5pt double"><font style="font-size: 8pt">6,495</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="color: Red; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><i><u>As of December
31, 2011:</u></i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><i>&#160;</i></font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Original Issue<br /> Date</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Exercise Price</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Volatility</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Risk<br />
    Free Int<br /> Rate</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Term<br />
    (yrs)</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Marketability<br /> Discount</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Fair
    Value</font></td>
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 34%; text-align: right"><font style="font-size: 8pt">October 2010</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">0.45</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">68.0%</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">1.09%</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">5.90</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">47.4%</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 7%; text-align: right"><font style="font-size: 8pt">226</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: right"><font style="font-size: 8pt">December 2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1.50</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">68.0%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.83%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4.96</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">52.0%</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left; border-bottom: Black 1pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right; border-bottom: Black 1pt solid"><font style="font-size: 8pt">1,695</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left; border-bottom: Black 2.5pt double"><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right; border-bottom: Black 2.5pt double"><font style="font-size: 8pt">1,921</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>



<p style="margin: 0pt"></p><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock', window );">Changes in the fair value of the Company's Level 3 inputs</a></td>
        <td class="text"><p style="margin: 0pt"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 85%"><font style="font-size: 8pt">Balance, December 31, 2011</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">1,921</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Warrant exercises</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(112</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Adjustments to fair value for the period</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">33</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td><font style="font-size: 8pt">Balance, March 31, 2012</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,842</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Adjustments to fair value for the period</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(1,285</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td><font style="font-size: 8pt">Balance, June 30, 2012</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">557</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td><font style="font-size: 8pt">July Offering</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,380</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td><font style="font-size: 8pt">September Offering</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,658</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Adjustments to fair value for the period</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">900</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">Balance, September 30, 2012</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">6,495</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>


<p style="margin: 0pt"></p><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock', window );">Summary of fair value measurements by level</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">The following table summarizes fair
value measurements by level at September 30, 2012 (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    1</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    2</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    3</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"><font style="font-size: 8pt">Assets:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"><font style="font-size: 8pt">Commodity contracts(1)</font></td>
    <td style="width: 2%; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">514</font></td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">514</font></td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"><font style="font-size: 8pt">Total
    Assets</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">514</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">514</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><font style="font-size: 8pt">__________</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><font style="font-size: 8pt">(1)
Included in other current assets in the consolidated balance sheets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    1</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    2</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    3</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"><font style="font-size: 8pt">Liabilities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 48%; text-align: left"><font style="font-size: 8pt">Warrants</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">6,495</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">6,495</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"><font style="font-size: 8pt">Commodity contracts(1)</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">291</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">291</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"><font style="font-size: 8pt">Total
    Liabilities</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">291</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">6,495</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">6,786</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">__________</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><font style="font-size: 8pt">(1) Included
in accrued liabilities in the consolidated balance sheets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">The following tables summarize fair
value measurements by level at December 31, 2011 (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    1</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    2</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    3</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"><font style="font-size: 8pt">Assets:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"><font style="font-size: 8pt">Commodity contracts(1)</font></td>
    <td style="width: 2%; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"><font style="font-size: 8pt">Total
    Assets</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><font style="font-size: 8pt">__________</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><font style="font-size: 8pt">(1) Included
in other current assets in the consolidated balance sheets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt"><font style="font-size: 8pt">&#160;&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    1</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    2</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Level
    3</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 1pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in"><font style="font-size: 8pt">Liabilities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 48%; text-align: left"><font style="font-size: 8pt">Warrants(1)</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,921</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,921</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in"><font style="font-size: 8pt">Commodity contracts(2)</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">500</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">500</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in"><font style="font-size: 8pt">Total
    Liabilities</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">500</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">1,921</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">2,421</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><font style="font-size: 8pt">__________</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><font style="font-size: 8pt">(1)
Included in other liabilities in the consolidated balance sheets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0"><font style="font-size: 8pt">(2)
Included in accrued liabilities in the consolidated balance sheets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt"><font style="font-size: 8pt">&#160;</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_FairValueMeasurementsTablesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_FairValueMeasurementsTablesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 157<br><br> -Paragraph 6<br><br> -Footnote 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a,b,bb)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 157<br><br> -Paragraph 32<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2C<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=SL7498348-110258<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19279-110258<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19190-110258<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 157<br><br> -Paragraph 33<br><br> -Subparagraph a, b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByBalanceSheetGroupingTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 14<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 159<br><br> -Paragraph 18<br><br> -Subparagraph c(2), d, e, f<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7491637&amp;loc=d3e13433-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15<br><br> -Subparagraph b-d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7491637&amp;loc=d3e13467-108611<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 159<br><br> -Paragraph 19<br><br> -Subparagraph a, b, c(1), d(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6447952&amp;loc=d3e13220-108610<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 157<br><br> -Paragraph 32<br><br> -Subparagraph a, c(1), c(2), c(3), d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7491637&amp;loc=d3e13476-108611<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueByBalanceSheetGroupingTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19279-110258<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 157<br><br> -Paragraph 32<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>36
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>2. VARIABLE INTEREST ENTITY<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_VariableInterestEntityAbstract', window );"><strong>Variable Interest Entity</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_VariableInterestEntityTextBlock', window );">2. VARIABLE INTEREST ENTITY</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
concluded that at all times since New PE Holdco&#146;s inception, New PE Holdco has been a VIE because the other owners of New
PE Holdco, due to the Company&#146;s involvement through its contractual arrangements, have at all times lacked the power to
direct the activities that most significantly impacted its economic performance. Some of these activities include efficient management
and operation of the Pacific Ethanol Plants, sale of ethanol, the procurement of feedstock, sale of co-products and implementation
of risk management strategies. Furthermore, upon the Company&#146;s purchase of its initial 20% ownership interest in New PE
Holdco on October 6, 2010, the Company, through its ownership interest, had an obligation to absorb losses and receive benefits
that could potentially be significant to New PE Holdco. As a result, the Company then became the primary beneficiary of New PE
Holdco and began consolidating the financial results of New PE Holdco. On November 29, 2011, the Company purchased an additional
7% ownership interest in New PE Holdco for $4,502,000 in cash. On December 19, 2011, the Company purchased another 7% ownership
interest in New PE Holdco for $4,615,000 in cash.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On July 13,
2012, the Company purchased an additional 33% ownership interest in New PE Holdco for $20,000,000 by paying $10,000,000 in cash
and issuing $10,000,000 in notes payable. Because the Company has a controlling financial interest in New PE Holdco, it did not
record any gain or loss on this purchase, but instead reduced the amount of the noncontrolling interest in VIE on its consolidated
balance sheet by $27,646,000 and recorded the difference between the fair value of the purchase and the price paid by the Company
of $7,646,000, to additional paid-in capital.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">Upon the
closing of the Company&#146;s purchase of the additional 33% ownership interest, its total ownership interest in New PE Holdco
increased from 34% to 67%. Because New PE Holdco&#146;s results are consolidated with the Company&#146;s for financial reporting
purposes, the acquisition of additional interests in New PE Holdco did not impact the consolidated net income or loss that the
Company reports. However, the portion of New PE Holdco&#146;s net income or loss that is allocated to the Company increased from
34% to 67%, thus changing the net income or loss attributable to Pacific Ethanol after reducing the net income or loss attributable
to the noncontrolling interests and the Company&#146;s earnings per share. For the nine months ended September 30, 2012 and 2011,
had the Company held a 67% ownership interest in New PE Holdco and issued 28,000,000 shares of common stock under the financing
noted above, the Company&#146;s reported results would have had the following proforma impact for the nine months ended September
30, 2012 and 2011, net loss available to common stockholders would have been $23,288,000 and $1,311,000, respectively, and loss
per share would have been $0.21 and $0.03, respectively.</font></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The carrying
values and classification of assets that are collateral for the obligations of New PE Holdco consisted of the following (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">&#160;</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">
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">September 30, 2012</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">December 31, 2011</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 46%; text-align: left"><font style="font-size: 8pt">Cash and cash equivalents</font></td><td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td><td style="width: 13%; text-align: right"><font style="font-size: 8pt">92</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td><td style="width: 13%; text-align: right"><font style="font-size: 8pt">2,070</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Other current assets</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">13,368</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">14,320</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left"><font style="font-size: 8pt">Property and equipment</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">148,390</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">155,523</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Other assets</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">1,368</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">1,693</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt"><font style="font-size: 8pt">Total assets</font></td><td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">163,218</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">173,606</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>



<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 46%; text-align: left"><font style="font-size: 8pt">Current liabilities</font></td><td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td><td style="width: 13%; text-align: right"><font style="font-size: 8pt">6,063</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td><td style="width: 13%; text-align: right"><font style="font-size: 8pt">3,064</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Long-term debt, including current portion</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">91,186</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">73,256</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Other liabilities</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">195</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">158</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt"><font style="font-size: 8pt">Total liabilities</font></td><td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">97,444</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">76,478</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr></table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company&#146;s
acquisition of its ownership interest in New PE Holdco does not impact the Company&#146;s rights or obligations under any of
its contractual agreements. Further, creditors of New PE Holdco do not have recourse to the Company. Since its initial acquisition,
the Company has not provided any additional support to New PE Holdco beyond the terms of its contractual agreements.</font></p><span></span></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Consolidation
of New PE Holdco</u></i> &#150; The Company concluded that at all times since its inception, New PE Holdco has been a VIE because
the owners of New PE Holdco, due to the Company&#146;s involvement through the contractual arrangements discussed below, have
at all times lacked the power to direct the activities that most significantly impacted its economic performance. Some of these
activities include efficient management and operation of the Pacific Ethanol Plants, sale of ethanol, the procurement of feedstock,
sale of co-products and implementation of risk management strategies. At the time of its inception, however, the Company did not
have an obligation to absorb losses or receive benefits that could potentially be significant to New PE Holdco and, as a result,
it was determined that the Company was not New PE Holdco&#146;s primary beneficiary. Upon the Company&#146;s purchase of its
20% ownership interest in New PE Holdco on October 6, 2010, the Company, through its ownership interest, had an obligation to
absorb losses and receive benefits that could potentially be significant to New PE Holdco. As a result, the Company then became
the primary beneficiary of New PE Holdco and began consolidating the financial results of New PE Holdco. The Company purchased
its 20% ownership interest in New PE Holdco from a number of New PE Holdco&#146;s owners. The Company paid $23,280,000 in cash
for its 20% interest, which was approximately $1,566,000 below the fair value of New PE Holdco, which was recognized as a bargain
purchase in other income (expense), net, in the consolidated statements of operations for the year ended December 31, 2010. The
bargain purchase was determined based on the fair value of the net assets of New PE Holdco, using a combination of market data
and the income approach. The Company allocated fair value to both its investment and its noncontrolling interest in the VIE.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The following
table summarizes the Company&#146;s estimated fair values of New PE Holdco&#146;s tangible and intangible assets and liabilities
acquired (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 86%"><font style="font-size: 8pt">Cash</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">3,786</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Other current assets</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">20,336</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Property and equipment</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">170,486</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Other assets</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,195</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Tradename</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">800</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Total Assets</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">196,603</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Total current liabilities</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(8,522</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Long term debt</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(51,279</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other noncurrent liabilities</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(12,575</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Total Liabilities</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(72,376</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Noncontrolling interest in variable interest entity</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(99,381</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Net Assets</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">24,846</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On November
29, 2011, the Company purchased an additional 7% ownership interest in New PE Holdco for $4,502,000 in cash. On December 19, 2011,
the Company purchased another 7% ownership interest in New PE Holdco for $4,615,000 in cash. Because the Company has a controlling
financial interest in New PE Holdco, it did not record any gain or loss on these purchases, but instead reduced the amount of
noncontrolling interest in VIEs on the consolidated balance sheets by an aggregate $15,585,000 and recorded the difference of
$6,468,000, which represents the fair value of these purchases above the price paid by the Company, to additional paid-in capital
on the consolidated balance sheets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Since the
Company&#146;s original purchase of its 20% interest in New PE Holdco, the Company has recognized approximately $512,497,000
and $72,827,000 in net sales and $6,226,000 in net income and $5,727,000 in net losses attributed to New PE Holdco for the years
ended December 31, 2011 and 2010, respectively. The Company owned the Plant Owners and consolidated their results for the first
half of 2010, resulting in the Company reporting the results of the Plant Owners for three of the four fiscal quarters in 2010.
For the year ended December 31, 2010, the Company reported net sales of $328,332,000 and net income of $73,892,000 attributed
to Pacific Ethanol. Had the Company consolidated the results of New PE Holdco for all of 2010, the Company would have reported
net sales of approximately $383,956,000 and net income of $70,330,000 attributed to Pacific Ethanol. Because the Plant Owners
were consolidated with the Company&#146;s results for all of 2011, there are no differences with the Company&#146;s reported
results for that year.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company&#146;s
acquisition of its ownership interest in New PE Holdco does not impact the Company&#146;s rights or obligations under any of
the agreements described below. Further, creditors of New PE Holdco do not have recourse to the Company. Since its acquisition,
the Company has not provided any additional support to New PE Holdco beyond the terms of the agreements described below.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company,
directly or through one of its subsidiaries, has entered into the management and marketing agreements described below.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Asset
Management Agreement</u></i> &#150; The Company entered into an Asset Management Agreement (&#147;AMA&#148;) with the Plant
Owners under which the Company agreed to operate and maintain the Pacific Ethanol Plants on behalf of the Plant Owners. These
services generally include, but are not limited to, administering the Plant Owners&#146; compliance with their credit agreements
and performing billing, collection, record keeping and other administrative and ministerial tasks. The Company agreed to supply
all labor and personnel required to perform its services under the AMA, including the labor and personnel required to operate
and maintain the production facilities.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The costs
and expenses associated with the Company&#146;s provision of services under the AMA are prefunded by the Plant Owners under a
preapproved budget. The Company&#146;s obligation to provide services is limited to the extent there are sufficient funds advanced
by the Plant Owners to cover the associated costs and expenses.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">As compensation
for providing the services under the AMA, the Company is paid $75,000 per month for each production facility that is operational
and $40,000 per month for each production facility that is idled. In addition to the monthly fee, if during any six-month period
(measured on September 30 and March 31 of each year commencing March 31, 2011) a production facility has annualized earnings before
interest, income taxes, depreciation and amortization (&#147;EBITDA&#148;) per gallon of operating capacity of $0.20 or more,
the Company will be paid a performance bonus equal to 3% of the increment by which EBITDA exceeds such amount. The aggregate performance
bonus for all plants is capped at $2.2 million for each six-month period. The performance bonus is to be reduced by 25% if all
production facilities then operating do not operate at a minimum average yield of 2.70 gallons of denatured ethanol per bushel
of corn. In addition, no performance bonus is to be paid if there is a default or event of default under the Plant Owners&#146;
credit agreement resulting from their failure to pay any amounts then due and owing. The AMA also provides the Company with an
incentive fee upon any sale of a production facility to the extent the sales price is above $0.60 per gallon of annual capacity.
To date, no such bonuses have been earned by the Company.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The AMA had
an initial term of six months and successive six-month renewal periods at the option of the Plant Owners. In addition to typical
conditions for a party to terminate the agreement prior to its expiration, the Company may terminate the AMA, and the Plant Owners
may terminate the AMA with respect to any facility, at any time by providing at least 60 days prior notice of such termination.
On June 30, 2011, the AMA was amended and extended for one year.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
recorded revenues and New PE Holdco recorded costs of approximately $3,468,000 and $778,000, related to the AMA for the years
ended December 31, 2011 and 2010, respectively, during which New PE Holdco&#146;s financial results were consolidated with the
Company&#146;s financial results. As such, these amounts have been eliminated upon consolidation.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Ethanol
Marketing Agreements</u></i> &#150; The Company entered into separate ethanol marketing agreements with each of the three Plant
Owners whose facilities are operating, which granted it the exclusive right to purchase, market and sell the ethanol produced
at those facilities. Under the terms of the ethanol marketing agreements, within ten days after delivering ethanol to the Company,
an amount is paid to the Company equal to (i) the estimated purchase price payable by the third-party purchaser of the ethanol,
minus (ii) the estimated amount of transportation costs to be incurred, minus (iii) the estimated incentive fee payable to the
Company, which equals 1% of the aggregate third-party purchase price. Each of the ethanol marketing agreements had an initial
term of one year and successive one year renewal periods at the option of the individual Plant Owner. On June 30, 2011, all ethanol
marketing agreements were amended and extended for one year. In addition, the price to be paid was amended to include a marketing
fee collar of not less than $0.015 per gallon and not more than $0.0225 per gallon.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
recorded revenues and New PE Holdco recorded costs of approximately $3,708,000 and $623,000 related to the ethanol marketing agreements
for the years ended December 31, 2011 and 2010, respectively, for the period during which New PE Holdco was consolidated with
the Company. These amounts were eliminated upon consolidation.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Corn
Procurement and Handling Agreements</u></i> &#150; The Company entered into separate corn procurement and handling agreements
with each of the three Plant Owners whose facilities are operating. Under the terms of the corn procurement and handling agreements,
each facility appointed the Company as its exclusive agent to solicit, negotiate, enter into and administer, on its behalf, corn
supply arrangements to procure the corn necessary to operate its facility. The Company also provides grain handling services including,
but not limited to, receiving, unloading and conveying corn into the facility&#146;s storage and, in the case of whole corn delivered,
processing and hammering the whole corn.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
was to receive a fee of $0.50 per ton of corn delivered to each facility as consideration for its procurement services and a fee
of $1.50 per ton of corn delivered as consideration for its grain handling services, each payable monthly. The Company agreed
to enter into an agreement guaranteeing the performance of its obligations under the corn procurement and handling agreement upon
the request of a Plant Owner. Each corn procurement and handling agreement had an initial term of one year and successive one
year renewal periods at the option of the individual Plant Owner. On June 30, 2011, all corn procurement and handling agreements
were amended and extended for one year. In addition, the corn procurement and handling fee was changed to $0.045 per bushel of
corn.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
recorded revenues and New PE Holdco recorded costs of approximately $2,758,000 and $571,000, related to the corn procurement and
handling agreements for the years ended December 31, 2011 and 2010, respectively, for the period during which New PE Holdco was
consolidated with the Company. These amounts were eliminated upon consolidation.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Distillers
Grains Marketing Agreements</u></i> &#150; The Company entered into separate distillers grains marketing agreements with each
of the three Plant Owners whose facilities are operating, which grant the Company the exclusive right to market, purchase and
sell the WDG produced at each facility. Under the terms of the distillers grains marketing agreements, within ten days after a
Plant Owner delivers WDG to the Company, the Plant Owner is paid an amount equal to (i) the estimated purchase price payable by
the third-party purchaser of the WDG, minus (ii) the estimated amount of transportation costs to be incurred, minus (iii) the
estimated amount of fees and taxes payable to governmental authorities in connection with the tonnage of WDG produced or marketed,
minus (iv) the estimated incentive fee payable to the Company, which equals the greater of (a) 5% of the aggregate third-party
purchase price, and (b) $2.00 for each ton of WDG sold in the transaction. Each distillers grains marketing agreement had an initial
term of one year and successive one year renewal periods at the option of the individual Plant Owner. On June 30, 2011, all distillers
grains marketing agreements were amended and extended for one year. In addition, the fee to be paid to the Company was amended
to include a collar of not less than $2.00 per ton and not more than $3.50 per ton.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
recorded revenues and New PE Holdco recorded costs of approximately $4,797,000 and $700,000, related to the distillers grain marketing
agreements for the years ended December 31, 2011 and 2010, respectively, for the period which New PE Holdco was consolidated with
the Company. These amounts were eliminated upon consolidation.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Assets
and Liabilities of New PE Holdco</u></i> &#150; The carrying values and classification of assets that are collateral for the
obligations of New PE Holdco at December 31, 2011 were as follows (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 86%"><font style="font-size: 8pt">Cash and cash equivalents</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">2,070</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Other current assets</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">14,320</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Property and equipment</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">155,523</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other assets</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,693</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Total assets</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">173,606</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="width: 86%"><font style="font-size: 8pt">Current liabilities</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">3,064</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Long-term debt</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">73,256</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other liabilities</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">158</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Total liabilities</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">76,478</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Deconsolidation
and Sale of Front Range</u></i> &#150; The Company purchased a 42% ownership interest in Front Range on October 17, 2006. Upon
initial acquisition of the 42% interest in Front Range, the Company determined that it was Front Range&#146;s primary beneficiary,
and from that point consolidated the financial results of Front Range. Effective January 1, 2010, the Company determined that
it was no longer the primary beneficiary of Front Range and deconsolidated the financial results of Front Range. In making this
conclusion, the Company determined that the Company did not have the power to direct the activities of Front Range that most significantly
impacted its economic performance. Some of these activities included efficient management and operation of its facility, ethanol
sales, procurement of feedstock, sale of co-products and implementation of risk management strategies. Upon deconsolidation, the
Company removed $62,617,000 of assets and $18,584,000 of liabilities from the consolidated balance sheets and recorded a cumulative
debit adjustment to retained earnings of $1,763,000.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Effective
January 1, 2010, the Company accounted for its investment in Front Range under the equity method, with equity earnings recorded
in other income (expense), net in the consolidated statements of operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Sale
of Front Range</u></i> &#150; On October 6, 2010, the Company sold its entire 42% ownership interest in Front Range for $18,500,000
in cash, resulting in a loss of $12,146,000.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_VariableInterestEntityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_VariableInterestEntityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_VariableInterestEntityTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Variable Interest Entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_VariableInterestEntityTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>9. EARNINGS PER SHARE (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_EarningsPerShareTablesAbstract', window );"><strong>Earnings Per Share Tables</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock', window );">Earning Per Share</a></td>
        <td class="text"><p style="margin: 0pt"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The following
tables compute basic and diluted earnings per share (in thousands, except per share data):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Nine Months Ended
    September 30, 2012</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Loss <br />Numerator</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Denominator</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Per-Share<br /> Amount</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 61%; text-align: justify"><font style="font-size: 8pt">Net loss attributed to Pacific Ethanol</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(13,553</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">)</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1pt"><font style="font-size: 8pt">Less: Preferred stock dividends</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(949</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="font-weight: bold; text-align: left; text-indent: -8.05pt; padding-left: 8.05pt"><font style="font-size: 8pt">Basic
    and diluted loss per share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt"><font style="font-size: 8pt">Loss
    available to common stockholders</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">(14,502</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">96,203</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">(0.15</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Nine Months Ended
    September 30, 2011</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Income <br /> Numerator</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Denominator</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Per-Share <br /> Amount</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 61%; text-align: justify"><font style="font-size: 8pt">Net income attributed to Pacific Ethanol</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">5,120</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: justify; padding-bottom: 1pt"><font style="font-size: 8pt">Less: Preferred stock dividends</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(946</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt"><font style="font-size: 8pt">Basic income per share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: justify; padding-bottom: 2.5pt"><font style="font-size: 8pt">Income available to common stockholders</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">4,174</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">21,230</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">0.20</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: justify; padding-bottom: 1pt"><font style="font-size: 8pt">Add: Stock options</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">98</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt"><font style="font-size: 8pt">Diluted income per
    share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt"><font style="font-size: 8pt">Income
    available to common stockholders</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">4,174</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">21,328</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">0.20</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>



<p style="margin: 0pt"><font style="font-size: 8pt">&#160;</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_EarningsPerShareTablesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_EarningsPerShareTablesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the numerators and the denominators of the basic and diluted per-share (or per-unit) computations for income from continuing operations, including the effect that has been given to preferred dividends.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ScheduleOfCalculationOfNumeratorAndDenominatorInEarningsPerShareTableTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E3NAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>5. DEBT (Details Narrative) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_RecordedInterestNotesPayableRelatedParty', window );">Recorded interest notes payable, related party</a></td>
        <td class="nump">$ 45,000<span></span></td>
        <td class="nump">$ 60,000<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Kinergy</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity', window );">Unused availability under the revolving credit facility</a></td>
        <td class="nump">4,200,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Plant Owners</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity', window );">Unused availability under the revolving credit facility</a></td>
        <td class="nump">700,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings', window );">Increased borrowings under line of credit</a></td>
        <td class="nump">$ 16,522,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_RecordedInterestNotesPayableRelatedParty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Recorded Interest Notes Payable Related Party.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_RecordedInterestNotesPayableRelatedParty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Increase for additional borrowings on the credit facility during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(f))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph f<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 22<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EIWBG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="nump">$ 18,671<span></span></td>
        <td class="nump">$ 8,914<span></span></td>
        <td class="nump">$ 8,736<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable, net</a></td>
        <td class="nump">27,513<span></span></td>
        <td class="nump">28,140<span></span></td>
        <td class="nump">25,855<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
        <td class="nump">14,374<span></span></td>
        <td class="nump">16,131<span></span></td>
        <td class="nump">17,306<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherInventory', window );">Prepaid inventory</a></td>
        <td class="nump">6,095<span></span></td>
        <td class="nump">9,239<span></span></td>
        <td class="nump">2,715<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Other current assets</a></td>
        <td class="nump">2,312<span></span></td>
        <td class="nump">4,324<span></span></td>
        <td class="nump">2,712<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
        <td class="nump">68,965<span></span></td>
        <td class="nump">66,748<span></span></td>
        <td class="nump">57,324<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
        <td class="nump">153,109<span></span></td>
        <td class="nump">159,617<span></span></td>
        <td class="nump">168,976<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsAbstract', window );"><strong>Other Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsNetExcludingGoodwill', window );">Intangible assets, net</a></td>
        <td class="nump">3,865<span></span></td>
        <td class="nump">4,458<span></span></td>
        <td class="nump">5,382<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other assets</a></td>
        <td class="nump">1,723<span></span></td>
        <td class="nump">1,653<span></span></td>
        <td class="nump">2,401<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Total other assets</a></td>
        <td class="nump">5,588<span></span></td>
        <td class="nump">6,111<span></span></td>
        <td class="nump">7,783<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets**</a></td>
        <td class="nump">227,662<span></span></td>
        <td class="nump">232,476<span></span></td>
        <td class="nump">234,083<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable - trade</a></td>
        <td class="nump">8,484<span></span></td>
        <td class="nump">5,519<span></span></td>
        <td class="nump">6,472<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued liabilities</a></td>
        <td class="nump">3,560<span></span></td>
        <td class="nump">2,713<span></span></td>
        <td class="nump">3,251<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPayableCurrent', window );">Accrued preferred dividends</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">7,315<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Current portion - long-term debt (including $750 to related party)</a></td>
        <td class="nump">50,105<span></span></td>
        <td class="nump">750<span></span></td>
        <td class="nump">38,108<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
        <td class="nump">62,149<span></span></td>
        <td class="nump">16,297<span></span></td>
        <td class="nump">47,831<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term debt, net of current portion</a></td>
        <td class="nump">68,990<span></span></td>
        <td class="nump">93,689<span></span></td>
        <td class="nump">84,981<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesNoncurrent', window );">Accrued preferred dividends</a></td>
        <td class="nump">6,583<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">6,050<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_WarrantLiabilities', window );">Warrant liabilities</a></td>
        <td class="nump">6,495<span></span></td>
        <td class="nump">1,921<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesNoncurrent', window );">Other liabilities</a></td>
        <td class="nump">1,348<span></span></td>
        <td class="nump">1,305<span></span></td>
        <td class="nump">7,406<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total Liabilities**</a></td>
        <td class="nump">145,565<span></span></td>
        <td class="nump">113,212<span></span></td>
        <td class="nump">146,268<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and Contingencies (Notes 4, 5 and 7)</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Pacific Ethanol, Inc. Stockholders' Equity:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $0.001 par value; 300,000,000 shares authorized; 144,710,897 and 86,631,664 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively</a></td>
        <td class="nump">145<span></span></td>
        <td class="nump">87<span></span></td>
        <td class="nump">13<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
        <td class="nump">581,985<span></span></td>
        <td class="nump">556,871<span></span></td>
        <td class="nump">504,623<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
        <td class="num">(524,487)<span></span></td>
        <td class="num">(509,985)<span></span></td>
        <td class="num">(511,794)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Pacific Ethanol, Inc. Stockholders' Equity</a></td>
        <td class="nump">57,644<span></span></td>
        <td class="nump">46,974<span></span></td>
        <td class="num">(7,157)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestInJointVentures', window );">Noncontrolling interest in variable interest entity</a></td>
        <td class="nump">24,453<span></span></td>
        <td class="nump">72,290<span></span></td>
        <td class="nump">94,972<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Total Stockholders' Equity</a></td>
        <td class="nump">82,097<span></span></td>
        <td class="nump">119,264<span></span></td>
        <td class="nump">87,815<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total Liabilities and Stockholders' Equity</a></td>
        <td class="nump">227,662<span></span></td>
        <td class="nump">232,476<span></span></td>
        <td class="nump">234,083<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">SeriesAPreferredStockMember</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Pacific Ethanol, Inc. Stockholders' Equity:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, $0.001 par value; 10,000,000 shares authorized; Series A: 1,684,375 shares authorized; 0 shares issued and outstanding as of September 30, 2012 and December 31, 2011; Series B: 1,580,790 shares authorized; 926,942 shares issued and outstanding as of September 30, 2012 and December 31, 2011; liquidation preference of $24,659 as of September 30, 2012</a></td>
        <td class="nump">0<span></span></td>
        <td class="nump">0<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">SeriesBPreferredStockMember</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Pacific Ethanol, Inc. Stockholders' Equity:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, $0.001 par value; 10,000,000 shares authorized; Series A: 1,684,375 shares authorized; 0 shares issued and outstanding as of September 30, 2012 and December 31, 2011; Series B: 1,580,790 shares authorized; 926,942 shares issued and outstanding as of September 30, 2012 and December 31, 2011; liquidation preference of $24,659 as of September 30, 2012</a></td>
        <td class="nump">$ 1<span></span></td>
        <td class="nump">$ 1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_WarrantLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Warrant liabilities</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_WarrantLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsReceivableNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccruedLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdditionalPaidInCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Concepts (CON)<br><br><br><br> -Number 6<br><br><br><br> -Paragraph 25<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6801-107765<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 8, 9<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7, 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7<br><br><br><br> -Footnote 1<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.(a),19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.25)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 450<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6952336&amp;loc=d3e14326-108349<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 5<br><br><br><br> -Paragraph 8, 9<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 9<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommitmentsAndContingencies</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Section A<br><br><br><br> -Paragraph 7<br><br><br><br> -Chapter 3<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6935-107765<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DividendsPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsNetExcludingGoodwill">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16212-109274<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph ((a)(1),(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7658586&amp;loc=d3e16323-109275<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 42, 45<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IntangibleAssetsNetExcludingGoodwill</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Liabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 32<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount of long-term debt, net of unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestInJointVentures">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount of the equity interests owned by noncontrolling shareholders, partners, or other equity holders in joint ventures included in the entity's consolidated financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_MinorityInterestInJointVentures</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The noncurrent portion (due beyond one year or one operating cycle) of other accrued expenses (expenses incurred at the end of the reporting period but not yet paid) not otherwise defined in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.24)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 24<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAccruedLiabilitiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 10<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssetsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssetsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherInventory">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross amount of inventories of a nature not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 6<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Section A<br><br><br><br> -Paragraph 9<br><br><br><br> -Chapter 3<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherInventory</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.24)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 24<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherLiabilitiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 129<br><br><br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 5<br><br><br><br> -Subparagraph b, c<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RetainedEarningsAccumulatedDeficit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 4I<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4590271-111686<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph 25<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R45.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EDMAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>8. FAIR VALUE MEASUREMENTS (Details 1) (Level 3 [Member], USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="3">3 Months Ended</th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 3 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems', window );"><strong>Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Beginning Balance</a></td>
        <td class="nump">$ 557<span></span></td>
        <td class="nump">$ 1,842<span></span></td>
        <td class="nump">$ 1,921<span></span></td>
        <td class="nump">$ 1,921<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue', window );">Warrant exercises</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(112)<span></span></td>
        <td class="num">(112)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements', window );">Adjustments to fair value for the period</a></td>
        <td class="nump">900<span></span></td>
        <td class="num">(1,285)<span></span></td>
        <td class="nump">33<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Ending Balance</a></td>
        <td class="nump">6,495<span></span></td>
        <td class="nump">557<span></span></td>
        <td class="nump">1,842<span></span></td>
        <td class="nump">6,495<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_JulyOffering', window );">July Offering</a></td>
        <td class="nump">3,380<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3,380<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_SeptemberOffering', window );">September Offering</a></td>
        <td class="nump">$ 1,658<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 1,658<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair Value Measurement With Unobservable Inputs Warranty Exercises Liability Value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_FairValueMeasurementWithUnobservableInputsWarrantyExercisesLiabilityValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_JulyOffering">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>July offering</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_JulyOffering</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_SeptemberOffering">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>September offering</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_SeptemberOffering</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Settlements that have taken place during the period in relation to liabilities measured at fair value and categorized within Level 3 of the fair value hierarchy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents a liability measured at fair value using significant unobservable inputs (Level 3) which is required for reconciliation purposes of beginning and ending balances.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EUXBI">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)<br>In Thousands</strong></div>
        </th>
        <th class="th">
          <div>Preferred Stock</div>
        </th>
        <th class="th">
          <div>Common Stock</div>
        </th>
        <th class="th">
          <div>Additional Paid-In Capital</div>
        </th>
        <th class="th">
          <div>Retained Earnings / Accumulated Deficit</div>
        </th>
        <th class="th">
          <div>Noncontrolling Interest</div>
        </th>
        <th class="th">
          <div>Total</div>
        </th>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balances at Dec. 31, 2009</a></td>
        <td class="nump">$ 2<span></span></td>
        <td class="nump">$ 8<span></span></td>
        <td class="nump">$ 480,997<span></span></td>
        <td class="num">$ (581,076)<span></span></td>
        <td class="nump">$ 42,271<span></span></td>
        <td class="num">$ (57,798)<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balances (in Shares) at Dec. 31, 2009</a></td>
        <td class="nump">2,346<span></span></td>
        <td class="nump">8,210<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_DeconsolidationOfFrontRange', window );">Deconsolidation of Front Range</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,763)<span></span></td>
        <td class="num">(42,271)<span></span></td>
        <td class="num">(44,034)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_ConsolidationOfNewPEHoldco', window );">Consolidation of New PE Holdco</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">99,381<span></span></td>
        <td class="nump">99,381<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Stock-based compensation expense - restricted stock</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1<span></span></td>
        <td class="nump">2,470<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,471<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock-based compensation expense - restricted stock (in Shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">560<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_ConversionOfPreferredStockToCommonStock', window );">Conversion of preferred stock to common stock</a></td>
        <td class="num">(1)<span></span></td>
        <td class="nump">1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_ConversionOfPreferredStockToCommonStockShares', window );">Conversion of preferred stock to common stock (in Shares)</a></td>
        <td class="num">(890)<span></span></td>
        <td class="nump">707<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_SharesIssuedInDebtExtinguishments', window );">Shares issued in debt extinguishments</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3<span></span></td>
        <td class="nump">21,156<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">21,159<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesOther', window );">Shares issued in debt extinguishments (in Shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3,441<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPreferredStockStock', window );">Preferred stock dividends</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,847)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,847)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">73,892<span></span></td>
        <td class="num">(4,409)<span></span></td>
        <td class="nump">69,483<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balances at Dec. 31, 2010</a></td>
        <td class="nump">1<span></span></td>
        <td class="nump">13<span></span></td>
        <td class="nump">504,623<span></span></td>
        <td class="num">(511,794)<span></span></td>
        <td class="nump">94,972<span></span></td>
        <td class="nump">87,815<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balances (in Shares) at Dec. 31, 2010</a></td>
        <td class="nump">1,456<span></span></td>
        <td class="nump">12,918<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Stock-based compensation expense - restricted stock</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,278<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,278<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock-based compensation expense - restricted stock (in Shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">264<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_ConversionOfPreferredStockToCommonStockShares', window );">Conversion of preferred stock to common stock (in Shares)</a></td>
        <td class="num">(529)<span></span></td>
        <td class="nump">444<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities', window );">Shares issued on Convertible Notes</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">64<span></span></td>
        <td class="nump">36,800<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">36,864<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Shares issued on Convertible Notes (in Shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">63,859<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Shares issued in private placement</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">8<span></span></td>
        <td class="nump">5,547<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,555<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Shares issued in private placement (in Shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">7,625<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_StockIssuedWarrantExercises', window );">Warrant exercises</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2<span></span></td>
        <td class="nump">1,155<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,157<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_SharesIssuedWarrantExercisesShares', window );">Warrant exercises (in Shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,522<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions', window );">Purchase of interests in New PE Holdco</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6,468<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(15,585)<span></span></td>
        <td class="num">(9,117)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPreferredStockStock', window );">Preferred stock dividends</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,265)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,265)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3,074<span></span></td>
        <td class="num">(7,097)<span></span></td>
        <td class="num">(4,023)<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balances at Dec. 31, 2011</a></td>
        <td class="nump">$ 1<span></span></td>
        <td class="nump">$ 87<span></span></td>
        <td class="nump">$ 556,871<span></span></td>
        <td class="num">$ (509,985)<span></span></td>
        <td class="nump">$ 72,290<span></span></td>
        <td class="nump">$ 119,264<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balances (in Shares) at Dec. 31, 2011</a></td>
        <td class="nump">927<span></span></td>
        <td class="nump">86,632<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_ConsolidationOfNewPEHoldco">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Consolidation of New PE Holdco</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_ConsolidationOfNewPEHoldco</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_ConversionOfPreferredStockToCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Conversion of preferred stock to common stock</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_ConversionOfPreferredStockToCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_ConversionOfPreferredStockToCommonStockShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>ConversionOfPreferredStockToCommonStockShares</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_ConversionOfPreferredStockToCommonStockShares</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_DeconsolidationOfFrontRange">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Deconsolidation of Front Range</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_DeconsolidationOfFrontRange</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_SharesIssuedInDebtExtinguishments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Shares issued in debt extinguishments</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_SharesIssuedInDebtExtinguishments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_SharesIssuedWarrantExercisesShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>SharesIssuedWarrantExercisesShares</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_SharesIssuedWarrantExercisesShares</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_StockIssuedWarrantExercises">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Warrant exercises</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_StockIssuedWarrantExercises</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPreferredStockStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of stock dividends for preferred shareholders declared by an entity during the period. This element includes paid and unpaid dividends declared during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 01-6<br><br> -Paragraph 14<br><br> -Subparagraph l<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 405<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DividendsPreferredStockStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591552-111686<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A3<br><br> -Appendix A<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4I<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4590271-111686<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 25<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares issued during the period as a result of the conversion of convertible securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-30)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4, 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of new stock issued during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesNewIssues</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesOther">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesOther</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock issued pursuant to acquisitions during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueAcquisitions</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The gross value of stock issued during the period upon the conversion of convertible securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4, 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueNewIssues</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 64<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EFCAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>2. VARIABLE INTEREST ENTITY (Details Narrative) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_VariableInterestEntityDetailsNarrativeAbstract', window );"><strong>Variable Interest Entity Details Narrative</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss', window );">Proforma net income (loss) available to common stockholders</a></td>
        <td class="num">$ (23,288,000)<span></span></td>
        <td class="num">$ (1,311,000)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic', window );">Proforma income (loss) per share</a></td>
        <td class="num">$ (0.21)<span></span></td>
        <td class="num">$ (0.03)<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_VariableInterestEntityDetailsNarrativeAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_VariableInterestEntityDetailsNarrativeAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The pro forma basic net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (h)(2)-(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7659399&amp;loc=d3e1392-128463<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 54<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 55<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141R<br><br> -Paragraph 68<br><br> -Subparagraph r(2, 3)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (h)(2)-(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7659399&amp;loc=d3e1392-128463<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>43
<FILENAME>0001019687-13-000405-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001019687-13-000405-xbrl.zip
M4$L#!!0````(`&R)2$*.L;FFC%0!`-\W$0`1`!P`<&5I>"TR,#$R,#DS,"YX
M;6Q55`D``PMX%5$+>!51=7@+``$$)0X```0Y`0``[%U;<^,VLGX_5><_8+VU
MJ:3*LD7=Y;EL>7R9.)EX?,:9F=VG%$Q"$C(4J`"D;>77GVZ`I$B)DBC9EB@-
M\Y"1A4LWNK^^H$%"K__].'3)/9.*>^+-@754/2!,V)[#1?_-P>?;RNGMV=75
M`?GWV__]'P+_O?Y'I4(N.7.=$W+NV94KT?->D6LZ9"?D/1-,4M^3K\@7Z@;X
MC7?)72;)F3<<N<QGT&`HG9#Z4>..5"HYIOW"A./)SY^NXFD'OC\Z.3Y^>'@X
M$MX]??#D-W5D>_FFN_4":;-XKA&UF3_X0UG_JIW7JE8=_JD?/?9@#>?4AW;\
M[KA:.ZYV?J]9)U7KI&GEI.-3/U`QG>ICIUH]K\)_9OCKQSOI\A/\/P$5"'7R
MJ/B;@\32'NI'GNP?UZI5Z_@_OWVXM0=L2"M<*)\*FQU$HUPNOF6-L[K=[K%N
MC;K.]$3B$8WZ,3;?4369&1E<T'^&$VAU_'A`LG/SV#2FNO+,KBW3E4=='3;5
M3S'[J._='T,#]+=JE:I5J5M1=\EZ<UEN'4-KU)$KKU&SVHO69WI$`P)5Z5,Z
MB@?TJ+K3G<.&#&:@17HN4YEC=$O&(.$)$0RS^7)\>>R/1^P8.E6@%Y/<CL<M
M'Y0>`#S@U]G<Z98,[KBX9\K/UHAIRQ@T8OPQ'F*#+U`VETQI0T3#'>HQU6Z]
M>A`9%H+Q1&G(?V(]HG%\,M#:Q=DJT8"C1^4<A,W(\YL#Q='7')#C:"IC:+8G
M?/;H$^Z\.3A5'WLP@54!1H'+L&/<E0F?^^/XV_A[[F!+CX-#TYRQE+PC*9Q=
M_7KP%NV\W>Y8K<;KX^G!$W+'F?1":B/0E>=D<*'-SG\[64!,(FR9GC\U4_1E
M*(^E0JKNNI"J&Q`2X+U;F:!W]X04+N!%A12B]8]+RJ4.BE=B%/CJ`[MGKO4;
M&]XQ^<=7*B40-G]M39SQQ(KUARPAA[C)`68>1RZW><@K<3CT-$E4&!!.XH6^
M&\<??P8Z5-J#L5[VZ2-7!V]G^L\*YO5Q)M5U&>,"`C>G[A7H60:XQ#0G*34L
MIQV)<EI<.^'@%L&R5L(R&Y:U$I9;A&6]A&4V+.LE+#<$R_V"7JGAU=*T,V\X
M]!Q8PQF,E]3VU9X`8><R-MP,G\Q3QW>,U%J)U((E<252%R=S)5*+DM>52+7V
M%XVETM=*^79>[YO,[/86#+42#"LG3WL+AGH)AI7SDYT&0WA(5![@%+<<4+2"
MU2;.%1?!LCS`*<3>OX1E64<MMN,LZO9OVT@MZZA%\Z4E4K.16M91RSIJ\9"Z
MMV@LE;Y6RK?S>M^+.NJVP5#640M41]TV&,HZ:H'JJ)L$PRU,PM3IC60])B5S
M;GW/_K8?8,"7WQB./W.I@E7KI:7UOV#U>Z[_Z%"EU'_Q]+_)<Q0C@7??M?XS
M5_]=V7^I_R+I_T7M_U)Z0X.Q=J5J^=[.OCD(0I$^OA__=K*<6"5QV\PP)IS$
MH*2=12W/*F<K(6=K]^5LK2-G:P-RUF][[Q6>K:+BV=HO/*\NYRWA^8]K3SA,
M\;X`:LZ\DX;X>^5#R*,NVY-B[\_,Z7/1/P\%`&WI4)XAG.<]8C@'==X#X7LV
M*3=_XFHJHYBCC^=EY4K8WI#%^<T'S\X0R`P"-IW1[*Q#*PVM-+2=-;3B1;2I
MBL.%/Z#"<W?;6/0)HU8YXI#[.,6[\1D(K>_)\<?>%0`F<1:96O.>5Q8B/7]E
M_CE7/G==)M5[2;GXKE0^;_E[KOVI=_/5E5(!<S[:O@>+Q)N0=AL$^1X]6++X
M?2TM+83`.;/U*K'#]X>!V=7O.0CB*%#Z@2+Z@8TF`J4?**8?>%$09&ZOR]R@
M:#[A.?:.J6BR@2)-F5X4SZWL!HZRJNJE-RJH-RILR7@YBDIO5"!OM%,X*A_.
M+>+#N07'T]2&Z\O5Q3OJXL\BW`X8VY,7SK]0R>F="V#PF63*OT#V\>&ML7Z\
M"VB:LYF//=TR3GBG3'GLZ[YKJ@A78J'86-A,0787G]-)"6DKA8H=$UC!MV!3
M0>I7+ICLC_?#(9VS.S\S,4ZM<L]#3J39&W"O_L<'6/B>/!$S5[LS*]U7#2_8
ML)3:+G<AN:LCEBD0_!*X8VS=#\#D*XUD+KU$4)Z#PQ(UVT5-`:),)(_:]PN%
MS*67#B2/`RE14SJ0U`G%+1OYT1'%=P6'N<LO'4G^1YA*]&P;/9NO;-3+&\B+
M>CB7!D-]`T^VMLJ3VMT`0ZL`=VJ5]WZ7OY"YY4>O]P1ZI8;G[G'*]*2P$>E9
M=CKU#3P9VTC@J<QP=@9/C77PU-K`*=#T_5(EGG8"3P6[1RO.:/#IE/J./9*3
M2@KT`EXT[:N6E_H5]E*_Z@8>]*N6E[H6]E+7%]5_&'2KB4U!=?>?8:RNDRQ7
M-_`:68:<_]AK8[OX*]`W+0U'GH`_5=K@BF!INP&<K/=82^`4!SA%?6H:\NL2
M+`4`RR2>1QK92#Y7:KT@6M](%E\&AJ)I?1,7LF?EE/J.2_']J7]FW64VF3>;
M+"%3!,@4/H\L8;+UJ++1#++4]];UO='<L=3W]O6]K:SQU'$XWGY`W1O*G2MQ
M1D?<ISM^X?:*.%@H@S*;S)M-EE`J,I0*GV66\"D8?+:4?98X*"P.-IJ5EC@H
M+@ZVE:U^8C[E@CD75`HN^GMRB4A.,&0OOLQ/\^:G)7B*!9["9Z0E8+8.F"WE
MH*7F"Z3YC6:=I>:+I/EMY9G7GL">TG-=D$-T<^QWA85%(BASSKPY9PFDX@*I
M\/EG"9Y"@6=+N6B)@H*B8*-Y:8F"HJ)@`Y?R1_YFQ][/>DF'&0AN)/3Y]GQ&
M+$-&52#96ZZ\1LUJGT"?:+*H*4T"9YLS_^V``LSFD@A!I3NM30/XNYE#Q^'W
MH(]9V>+8ZV#()/6]C%MP5I#!-(]9LR:(GC/A#;E81G:Y7*;I9DT<M:>DD$.@
M-TS:@-4E6AO!Q[5U%OF?N33T97A1K[7)O*>NZXG%1/K4S3__Y*EY#ZS-'^N+
MRD^%@[YWA)[QFODD-+E/K#<=B`X(3J8;T/*(PVP^I*YZ<U"I'[RUFMV6U0:/
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MY2JJ(V3=)17^[NK4!9!3_#\J?B*X^^;`EP$[(,<ORU*M>"QEW]`Z5\M7UY=@
M`=T-@V_J]\Z+S>0B+.IW,QQ=#1*^I+:O<JT%O4U1EE);<2G;@?/VN=L#55L[
MQW&M0!@LFG]:=`7EEF+E(I:V%"OS2&E-TZYUBZ/P[7OQ/-?&;Y^[/5!U/B]>
M)(XWYL7SW,J[6&RM1G?N5G#C<ELGE]_:`C;(Y*EM>X'PU2=F,WZ/OYI^S?RG
M%IAJ':N13GP6D7DJ2_GJ><U.L[DQEO*5_MI-J[XV2[K$>B7NH<F3X[55U:W5
MT\6P]+RK4\U["M!\5JKY2C#5[BI4G^>XI=5J-](UN(7'#<]SRM)L3Q_R/(UH
M/O%VNE.UOX5$KX1/19\#R$TW@/K%H^T&#A?]]Y[G/'#77?^0J]%,"ST/M>?B
M,)^*ZIW:UCC,I<]Z9TJ=ZW"8.`G"IWF>?'+1G'NP-9E^;1[R^:Y&=>YAWC/P
MD*_.WJZM(8<HO-S0,<:6IWJV9M/J9H:O]/SK<Y%+':U&N_:B7.122*?1::S'
M!>3KSC.>[4%DG<DILDD\B9=<JJG7FM8&>,GGS)JMF8PT'R_:M!+=GL.-U:L9
MB4@FC:=QD^]I@4:UM1%N\KFV>B/C68)<W"1N=]*[GK7UTTF?CD_/NP[=?`>V
M]6>GF_?8=B7"<RXI>$(D:77:4ZXBF\03.,F7E54;K:G0^OR<Y'NFIF-U.\UU
M.)E^IP\\73`,7.HSYYSU\%'IM155:5:[TUPM)_<\#.;27Z5I6>UN8RL,YE)K
MI5EK-*;\R^H,:M,<>*[#I#*/T*^_4VIUVVEYS4Z^'OE\"FM;S?:+D,]G9>U6
M8]75_\:%)^'[Z$G?*_&+QX7_!2)2()_P@%"[5NNF<Y0EE)Z!L5PZZC:Z4SGV
MRS.6KX(&V_SZ4QB;5?:5"#>T-YY$7WOJ^Y+?!3XF\;][V2^D/.&1L&ZMM0Q^
MZW"TN77F`E"GW9FJ]^W:,O-M`FO5[C)?5NAE+OX=D<6FN,OK7OQ+&HM->*?7
MO?"W)/9WW0ON.5]LX+N\Z`67?:^R*=VU5<^_\GJ5$L".K3KG%:N+-P8=V.OM
MM!1R7C"Z:D%@UZ20[WK-50LT.R:%95>\+=FT=ZSJU%M'.[;^91>=K5Q5V;7U
M+[GN:^6RUXZM/]\5,XL#0JVVVSX@WP4K*Y9"=DT&N:X76;%.M6,RB"_76&+T
M[79W$QE_XFSK5#C/6-K->%=V&:WGX&W=]VLWP=NZ[^3FY<UA_.1"7YGRB?6Y
M\O$QSFLZ3!_-A;?'U1*WQT5\O;VA-N]QFUSX`RH\]Y``PHY>'\^;=Y;N&<.'
ML=TKX;#'7]DX-^'DK3!S9TN2._?L`&\KN-$WN%R8:]%RDYM\-N0R9TN2.X56
M!WM<NK2?FTP/E,H,A=0$R9G#<_]+KFSJ_I=1N>I:*M%5-XMFF]745^:ZOPKO
M0=PRJCQ(2:Z4"IC,3?;:2VIJSFRS9+]X;B!\*L>7W`7\KDEN:I8,'!HY?&(C
M](RBCU<^!?FI_1<OD5DVVRQ5S<T9B+L__:#H(F*W8/LPCL33$[R1BHIQDH74
MU%F&,%'Y)7R3?ZGX.6T$4S--.[YW@8(,5JESIFS)1SKN".<=51R<W`V$&)B"
MXK>_`_EW+OBJW+S\X/JO1D3Y8Y>].>C!H!-B54<^^9T/F2+7[(%\\H94')HO
M#LDMF&OO%1E2V>?BA&#7ZBN"I"K4Y7WXZL]`^;PW/OBA[[_"V8]'^M,_K7KX
MOQ>GB),F"504_YN=D,[(C[OPZ$.`'S[*/A7\;RU"S2,5#HF$KM<0Q*O1(\D/
M=#AZ]4^K"9S\/M".0WDN=_`$E_2XH,+FU`4>PEO/%.$Z;V#$A]XT?%2,>#V2
MZ?X/"27GS*4/5+\V(`&D$]Y^#&DWVJ^F!D<-G5<_P0RP!`XT'B!LN>,*^`E@
M305WBCN<2HZ2Y5$N0WZ%E<K^F/Q&Y3>F[>'#AS.<@WR4`']!7#[DN#8W#(MC
MS8IMC(8D6`IG2K"RA)-Q+(+3_A&YD9X3V#XP9Q@@9Z#CG@<[-SK+`PGISXCE
M]"9)'X83,'=B;AY39&0,ACE&2-B,6HF:U8@A/T#HCKG>PZ%NU%?VD(_`.CC0
M'ZF"!**'FTK3YR?RHPUK8[;/[YD[/M0,X;`)3Z%_2?!UI.&$^"RNI1AN6]57
MV^,U_)(+O+(..G*1EWLP3,U:*'K"E5:ERZC&_%!C'8(`@F"D<0=_@$F"0BLV
ME7<`>PA![`%3>](+F(M6K*?X"DD]DX)\%AJ0^G)#=:0]040,TA"/*`C12O/`
MC(4"8BNC&.(3^WM@/G$@R^.NCM!]28$2\J7&,A@E[>OK^?L9,X<9\>XT6!YD
MB0HCFO86AR`;<!Q]ICLYS`5P2F,LL,J((W\@O:`_@'^Y="HC*L&N%)/WW&;1
MQ'+QP@^A'R33DKMC[#>QV$-R*OG?GH`/U^R>.O#O9Y\.C'D8QW((`G.!2<<#
MS^?0@:=Y_4K5`,3B>R(M5"W/F/-09V"#8V.C:6]H;#;36H&&YB$0DNFG;LSJ
M":X>;T/Q/=*GZ-`%`PC`4-21%B)FXKC=`_&&W@?[:TUIWM#/@8IP!H=R<&YX
MXQ?>=V<Z07?(/$B/L<1<T+A%7["^?17!.Q0WRTC@5C,$Q,`4C0L*70"""%%A
M,()_@5UB>\\+Y!3,=7,/$&[VI(=$P&800LT,ZG^C8+#4A,_I_,!X0S<8WJ%Q
M9G4A>J?KHV%"L^9NED`?_OJ""?38]$H'/Y(.?-E6F?!A<<(%X[@DN,M&<PMC
M^RR'/X<=SKPC0SU!Z^+GL\/)U)I]W^LS?*"8/'!_L,!/9`7M9-1/1FZ"A#">
MT+E)#6@2079SH?FUO6E64XW);.5AP.T!Q@;#3R!!%9I2>G)_`B_M(U6(F@E$
MR(#>H^LGM-\'7XO[6RI$0%.(LND(!OAZ2@@TX+9JU2H90AR*TLV^OIT2HMNI
MSE=OV<@WM_S6JX<$=Q*H<,E8C-T)`P\,TM<0W*$#A7UJ5D=PT=QQF7-$O@Z8
M"$,S9M7F`,O$4)@($D`3\K0RZ0@#%"QH6MB'2?&`*'TF'.W5(?.#_=;$X$"N
MONYKK.8PF6Z&_(US^.;OV<\5*@HLX?4C[&=LWP/T:GY:&L#5-%I&@;0'5#$,
MU@`=P!\`K%;]%_&T&QCPD0:4KC1#MC.%.TKN(1'2&6/<R]RHG#3^+U<7R21.
M,].#33H,%X$VKFE$1]U;KU3("!@D0A?Q"])*K\'!O':H,Q[N:^LR40>SM#$D
M04(_9)SEI@YC;PR#5(">"(21WM_B7&A(KMG!IMT<[)EMO<N%U.T6O,*U!WZG
MEMPO?XD$%!?L3;GEB(!Z&+4',*GFXMJ[-YZFUM6*LK3EGS/;?&N%WRY0'XT/
MP$D[EP*/R&4@,5H8.8"#_"6`K-:J3US=<E+U>DZPW$EPB^@9$[,F%>U[/C5!
M.\=TZ-Y:L$HZQTV7V\U==[0S9:L/_*^`.U$Q)JM.E3"[<Z9&L&DS6^!H()%<
M?5-$[X(@>T,,35<[)H`DMF0P*)6%)NT!-E><W>L4%[Q2^,I6[$]Z`3Z03>@]
MY:XV?SM\7P;0#(F+C;-)&"X"F*$/+DJ:8AJZQ4F\-M'?TPD=>\0=,YA/.%[O
MW:.5)7;7F@7<F&7PK]^7O@.V'/97@"D22&#((/?`_B`$<),CS<>#)[_IM#3D
M&MF(/K/'$<-,!=<G81XNPZ)?5%H2H'63SCTP%\0\!.T.5,)!-DE*4W?^$;GJ
M@>OU'D`B\G">@YB(,$$4:-JP?R8]V.IB-!H#!L%G0!@#3X;BG,@C?',/LJ@_
MF1W*%X;S7BCA0,`*(+6$E,SFT@Z&>*6_EK0-8P]U@$"'0XE+[6\H?P7(QN0:
M\<.'F)YIKG#6GO&L)CCQ9$43QMF0<X%^`N#;6,P4MH9T'*TRZ6K#4BOHQ0FD
M\:0`/5/)2Y4.DE+K`0)159@/4JYB)!J?#XL7L#W'ZJ#M!:Z#^(1]NFT@T9?>
M@X]!$??+TJ`D+$;"=+AG8;ZIMU`'-*<8UD2`@W#X!,BE.WYAYZA/1R)X)<](
M,OUD-&IBAO&,.DWA0W(9E_7C'S-1Z1DFL\YPVZ.PIQJ?+!.(C<6P$W*'YG0P
M$7%*_.F3!SQ+T`A']`>"@L=#=[7\0`(Q&E6_!/B@<+]XA\8^DFQ$)6:/0A.0
M#IJ]YL5LO,P!!I*$I!*F'KFQTT8O`^V8?SA1V3!5+M1>D8="G;#&T=<,:5P4
MP7'X&R+2[%3U]NT2>F@NK&KE_W2O3X'+)CC5/QR';N@3Z^/K=*CMN/&V\I\C
M:#!Y:Y*'N/`_T/8.PL"(@!+$VJ=>A0,>30=(F%M.IC#!#3P;!)$QHS+:B4<S
M+]="2/,.`P?5\H(Q?P;"[,[CDL72B<P6(@PWR(J";0<XL4FZ7+<2231N>S(0
M<,?`''6Q$XB/L')\6:E5S8:=X\&)AX<C?A#6NI,P\/`G>9CA(U!&]09&88*K
M\IR2X7D7KD#A$Q1ZV^+!.$<?>]Z9276\M!`-.OIDSZG9F,P+T=0`T1O!CL[4
MV4P]#IL/]>D0==#E&#9^U,HWR05T%0A,C+(8,'4E8]+WIR10!`A;*0RY"7!0
M+B=+C(H?<@$.)W88'AI"*#L%#E.Q%<=$QV_Q>:*V&SP#H/:D;#*9CN$)FJ"A
M84XD!UT+7N0H1HS9Z7CX6;$H&E[`5)@39A]M5[1M&]M-5:7S'')C)_3CF!#E
M"17&2!:&BS#M4PF+U5DZ_<8(BU9B4BZE@N$HC!:8"-)>#]Q5:'!X+H9[]6%\
M]D[U]3GQ#L6=//(5'?9$5_?I#%6O`JF;<61FC*&$\HEKG/,B;Q9+D7KB71!V
MU'L+!7_$"6XT4(LTS'1O$ZXA(9/)?D37<_!X"SF+RD/1?"E/$''QY>H"@*F]
MU[V^:\+(`)):'R^$"B.&KL6:RPN5]J/>`Z8*VJ\Y7G#G0VR,_=-AS!L*[M[L
MV$;AC^*8U4:_B!,KA<=74,%PUQ/]"HYTC`YT:LVE%NNA9C/,'R(^_I^]?VUN
M&TD20-'O&['_`>'C/M>^`;$)OMF>[@CY->-9=]O7=D_'?MJ`B**$-0AP\)"L
M_?4W,ZL**(`@"9`@"5(UCVZ)`E%9E5GY?D0HR!Q1ZH;L-`"Y$ML_6(:%)>S#
M)R=?D,3T=P"*&ZO<9+-_T`$!:,P75B8B*$;*G`5P[O^746Z9M5%&`BBHX;TA
M0_\^NO)`J')3F*0"V;@<FD@$CW)6G.,"88?<-LYNA;KJVHNA[8X#\]DO;.;!
M>=-M3.]3&:.],HJ/BOL`MC&I<"H^X6[:BF*PL!W&#4[BMCQN8_6,PON`,9".
ME/]4:`6H]!F,<TBX)3Y>)WY!7@#7`\4FY4^"N'/\7R7F>3V[]N3:Q,F)YJP)
M7#8Z(_BRQJ7$:*YS`N"M%`#I5[:ETH5(UZDZ&RHO#UF6MX62=F[#(B283")=
M+G"YV-@LA3:EE.R>^*$F?7`16BGQ0S&:45T"IB\D-@^!>VB=P9\[9T4R9P3K
M:I8&*APN!H;];>H,?7IC>US1X`KG<@F,&PF!>+5()9P9,D$"B,?%+&U!A,K'
MH`:A[<A=D&")4UPIX(P7#7&A4+K^?8"96=QV%XJQ'0,K7@JW3XQ]V17/`9P'
M\/00[TR6V4CF(]R>B/N9[3GEP64/$!A9*-*Q'PO^6`P*DB1*?###$7(\&1`4
MY%?.M@7R!60(JH:P)4Q"NXF58W6Y#A6BHT(Z+\2!\H/P#="Z(C)0,2'6]5$)
MB]=RB-D=$`;RAUM$(5?'MR$QP#\EOH19.'-A?P0![3$+IW*T`>^ANYMS$:$#
M9W;'56HW2K\C%%+AUP#ZL,GEGFF%:9)#:F:E&!-9:FL42W'NPNA"M$MFY;/;
M`#1:^GV%$!#C!=MD!835U7BZKWB%R.Q`=I?Z\IDIM%=<E)(7%>6<C*W,34ZF
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M<NU&$83RN@V>73QW/3CT>UG.+DH+8EYH0"(YQ$3&N3`Z9G?V$KFS18DEW]P8
MF##_>354^28`9>U%'I;7MO\]3);Q[)'^K(*3"W<2'.(]N>\D89PJ"F]=D8L&
MRZ>ZWJ8%X<N%%6WIE!'U$)1@DW#_A(O)"&B8,,>7SJC"V]]DQ_'>Q28GA<*8
M(NWF5;M,GR/\7W\&/D3))R9:CLAD>3([XH@V#5PVYJXDGEE"*$&("L>J65C3
M+.R?"8B?WE3R,*M;I+-W%#I"MH;=+G)JP8IBZF"D"_UD+/T2)S=[P>W8_\6F
MS<82OL-3K`+%N"HNC&\NLI.4012I7RK,:.2GM"[R7[*Z._HZJ%WH^I57>TT2
M=(190&@&(.!8AO$G_CMUU.&W3.FXS1^1"4C$.A+^^M64_E3/R1T==[6A:B6B
MV'!M;0/409`?&/LCBV21<I`5ZV3%@*A5B`8ZRXQRL91:D[ST`O5''ASFC`A&
MRF'A1U3P#(H2C]6=PE+!@K303=(Q7Z_1_JMT3M=^GYK5<LF\1VTBMU,VU2<:
MA=K$$H?<OJ6)G+EL*T\T#EB:2!#L5YYX:K(ZIRM0LT3PP)6!6;W&$ZX,=-&G
M(6H#979:T[6!NU?I<<F/<90J=(`WO3_X:2/'4J*LS$,:@R]L?#>!H`5B^\I*
MZGO\ZU=ED+Q10WB5JC+R=JO"@/Y^G?=@\QS,\C!$K@=!(4-=Q.^K9*D;%3/4
MSXENS@G6%1I_4YH/O)8Y;Z/\S`KZIPTZ'L@6JTRJVDZPE$)$FH6WB<N)7%A&
M[W,%'D"]OF.'H#]=9Z3_.H!/5*&H_"W[PIO`21,BC0F"DAY#?O?ICK#:,0SA
M3>2BLM/>8P5)`!JS]QBY49H=@<(6+!KNQ\)]PEFBGW9%&^"R%(XT$9TH11?9
M7(V48BG:F**-^C5V!Q&K\EN'G7PPC+11N-/7#:$`8$PJA`<CQA4'2N\)XM1.
MFP<80Z=`^YT=PKT%(@109]$OQ@OWI<BC?D#73$`@"#<G9QB`>JYTIZO2&HL`
M:$CA&%FEI(`("YO5E&8X$[`/9ZAL4ZD83TT`9O+"%3`$-W`#,JI%2_DF"L(;
M`Q-:6<JSA-K%RY2I_BI-`O<HZ42MM!$ET0BV<,*%[NV=\)YAJ@03)XL)89B0
MK4#/G0+U5@%.FFHFZ%Q%?UV&'3?*,OIQ>[BM*"4OEV..Y]Y@019GPQD!848`
M)BUEN3C,C[CS#_UO?)=D@6!<`?TV""26/]\I>5#<1L\MJ5*`48I]R4?D839&
M`R+)H\@Q*/"5IL@%_FT@2\%#QH\MS5[.;F?AJ+=='ZUM-0KK5[(0A)`@D$H%
M1<K?'.-]B&_\8ONW#,01.I97_%O*(X70I>0#P$NYKZM$]1[T?N*$NZ)^<]:3
M5^[A(F#9C":+1F']3!410K*LJ!!92"``QNRB/2=YP%K3EW@/<*Y%PMO%2Z5<
MI:=<I@42BQ*U7I+;T@MF4E/]R_4=$#1J-T/N!O(K]=P:EKBT_DSW561M6:>R
MDJVQ3<H6WS5:_7Y`Q51BA34\3KU=0.PF;_7`#7P.1/::G&E3<N>0>ZOE39B?
MBQ7/:5Z<2UK-/>-UM7BHZO(9EAEO];X`?`2.%"J9Z4.>`N'!,4J]-P`F7PVO
M/X@^N.)KK&L%`'VEF_:RY>(C!!6/D6RZLGEN^T#D"`RWO%&*#"W*OC22]-=Z
MS\0M$+E7Z4THIZAD&:PM^9-^)JXGH(=P@WNI?+^9ZE@1ZMS=Q0MVPV[MG`F=
M%H^6^^?()8676=H$A90EAS&,-=6!H]#"!9EM#,I7$8^$QGQQ6=;J$(/`^;)^
MI?HU"9<!:'+Z<AZ\II%ZV0BC&_-VOX)Y$6\S_&44>5+FV^2"BGSH@<\PE'D5
M85TME3_#8I@^!@M%N)#P+MUAM@.EG,%-I-^$ERGK')+6I>!MXSYIM`+`EK9%
MN@JVW'C@DD34/HKN%NIZ9X"DLR:H6IW+U!R\TAYC1H/]Q=(H1[T>8T;#_<52
M,"KU&(.C\,"HY58S-ALS"HW&=FTFQO6K;0W%C+7-Q-SYUAYBO-^8RAFRNK85
MAS+OE$`%'@@1'.8\47`_@R]&KE@[)WNVM`^KW"M,!J6I7YA1K5<8['!CNS#-
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M-<E6M2:#7%E]6;_4^C`X`8O(WRQRFW'A^97`I1'=H=4OM!(PYGE?P;0(,!`V
MM+CB^KX=/L5)41AE&.D-1\\74!JWJ?9O%/TR9$*5C]1KC9<%\TZX;O*0]?E-
MFP;::FM*:F*.'B(7^RPFE(?`"T)Y#H=-96NHJGN,V`'0C,B"X-<8=X,.U8[Q
M9I,V;*;I#H%_A;Z)%2H5D4*;LB!(=\X[X'E79F[IDG^,+M)M&"1+OE@JJ-!S
ME-L*SR.!U1^%B@;*OP<J6YK744@O4L]N9B>1*!OB9I$BTAA/QZ<3P&AKE@@D
MS6JQ$J9!2L<S5J[<87"/I'@*`AX)G8^2WU\T`PJ):.J)$,11<O._,@5&\@=T
M^"A$(UH,I[ZL5)652C#7:]@/4C.P)R5SJ!>*`^02N3&.NW4Q>2?5U\B2$N;9
MJHHFX]ET[GZ@=E>!'5-5$PUA^5;0,Y&CH?,Q=+']I4.,3:13`7A\`H`JQWCL
M2?72PH[=]#U!)#*7T%95+#@Z$RIZY[O%,]%<\*#6%C?TL:'`U2TY*G;T&A1I
MAI?2I(ITRAWQ+;W>3_0F:_I3FA!&N?/H\^`F>KTNYALEL@@`9P*9WVO)GWAQ
M#ZKHJ7/`PG*.T%@$O.EO`39-D`<E2"2=,N/229A,K70S)8DC!XGJ^<CLC<:9
M?C<R^[T1_FJ6$U]O\%.&W'5*^';W4)7V2BTZ[7.F#)E14<JN*$P6T)Q$H!L/
MG1"4UD7_6"R!&?%\(IZ"A83`9'5Z&KV*DN429%98PLS2M;D>AM\HKIQ]/4]P
MI=PDVXOH')(5`_)D+)D]DO6#D=X!-0?-CD16=O1+^_%9D_9B'L!%^82I<O[M
MK\^ZS^CW);HKQ.^U]_/@.O'=+U2%G1^N$H?R9=3>?&9[<I\W00S,)GL:^YW1
M-QSY#0'1%7\2WMX9+N/\8<THJ[B)LXJ==D,"2B5@S/_UV21%SPT:YF$*%(VV
MX:`9E/#SRJ"5'QAFU>.!>\X^,/\W:@TI6.]6M(>J._&#A]!>_OJ,__O9EC->
MV4*#1TP_AH>FUT:1T#0)GQBXE*K[IZ)JU#S.CW(UCFOBN'L(')^6%;TR;N#8
M;JEP[DJ,-_M_WM%_-G$I(:J'DY\J%X\(%<RXKDF/4BNHO-+.E'_\E;H_Y2F2
M2M>JKMZ?[DF.`HKJ./RIF04O$I7G0C3[RJF+()J&&.7#G1NS,C99ER>^KGA&
MAR*Q0Y/NSN1J]7>DG@,3Y[DAHKT('ETZ@@^OE-7E-F\T,:XAQMZE$^-31_#%
MBY,2;O,SN6MS'YV3L[EEF2D??!PN&83YQCKY+14JI&@KRO=D;@%SE-[HP=RX
M2;SON=A%XF,3>DS_3)C'&QI@KB2EH:?I*1ZV];@*YE<84;D*PBO>_E!4N%.8
MI5"WBBF7QMP-X7'7-\5/F`I^@\VS<!@S!_4Q2WK((%[I./."XB)!$@%XT4L=
M[-#!CI9`DKH,1Z=R&>:2%1$R'>!HJW^YU<"EE-S3`0Z-8QW@.*`MO7N`X[WK
MN]$=]@$*`B>J29,M]E<_WW&!R3YNZJDYZ#44WFCCF5XX]BS+M+K#%J*O(?ZQ
MK]__KR#\+C+>;D,YC5"[:U96')B]R>#D+I4GCX3N9'QR)!Q>\E>$]8O]D/97
MT1=WG0`P^WU]<4^/A.[DY$@XM,AMQ/3XA(4G-?'2`@]713OQY`#LHTJ"]-F5
MDQS+*M7T<3KZF'1W32"X/)]%<2?]ZOOXAJ4O>Q)XOTWDW>OTD+RPQX''#F4L
M;U]Y'\XW,JV]L_7V((G&&)^FBV;I8@QZ7=-,KUFZ*&%Y.@FAR22$SR&V>Q/M
M63$M`!LF+K'!`6U@0U\,^4U*)F#R6Y16(!KRVKPV$UM*+4,V<VW1F(N*-1-\
M(HEDL^HH#FVDW2NJ15=[OM^+=O!9G@!VJEK8_/L,V\[@Q'E=''G`?($X6.X7
M_1CU*SM?7R<N#0??,?#1'^_C;\XP-.CRO@3-:&-K#G!?]^_[;,XIU1#3M`J6
MN\%'<`]DAV9U50[1&Q[A"/?WPWWB_9_EJ9G&/;MS9YXXTWD2^M2,^?BG.50/
MT]J!'K6HW*\Q`4HO+H3FH/Z$"^KO2Y-\^>`I:@Z)S?<BDFJB*V(<Y&;[8O<<
M:IGM=(RO:B?3U7[?LHV./\/)5;R5H>?.F80!>V5&$>-"5GR?]Y?"EBU2R&)J
MG12:F:@,&8*.XC,5FO.TW26]5?;*Y*V*YNX/:AL'?XAHD@IOF"Y[)CU@RRC'
MC7B;GV#.<PIYDRO>Z<R>S9)%PG]V5`4`VY@OL`_6_V5-&P$Z@-G)YJK)9ATB
M5Y$ZOXFVAP0'=9[$5XD.1?PE<X\W?,)>C:)+>88*W;GCX`FML>W?NLAR$,)K
MHIUM:J3:A$.0!36<DJ^2)$@YJ`[U*(H9U_BVJ(_I+7!#O`?`"BFK@F"C[YM*
M#^/>E62PQ;%\N<Y>-)(QID'G*ES*ZP5HV-M(:<Q)K=YDDS&"@/=3$_?=P0&5
M8C;?S`[#1]P7)>?R!IU\N(UL=(A,O6-\!L*G`U*ZEV&2+QT)'S*8^.DW>`<U
M?MU%<WNQ`3GS5>F0MC+VW%3_*GKP9YW<LO6Q#5SV8,QF=SY(Z5L4X\8<6%HZ
MCA`V2C`H,P!+6J_:^>E]8F'E1LL>JRMC=62?X%QW5,Z@J469Z.4ONTV+O\@9
M#MFH*I^:9,.1IK3"^9&#PQ$C:KQWSS@+%WW2XN+T7V7F+^Q!LZ.CL:.W;,Y0
M[!)\[^4`"*"5:#M7DM_-!D>08(QD;ST4-^+B$)7P?F/\1IE</`=\>BL7_:04
MW&"S/VI92B"EKU:GB^"X`2E!YXQ%6:Z^9(X.5RGD8'E.>IG$QPL@Q7KZHG03
M*<<D"$JYIMA@UI`V$AVQQ8K8A%@\"ZQ2%>38P7K-N?&&L*.AI?1FA1_I5WX8
M>_6"^]//3F<]"-@,M]!H%P"PQBD0:WOK<NTB8PHJNDLO?:[-IK[JA[_JH7MO
MI_/E/BA=.A%]_V#.+=+!=3:C=NO]ER_,#3"7UW^&@D7(3:#<!SMTTJZDTFSD
M"CUU\,PZSW)2P3/Z;\S<^IV%:`NX(,7?_>"2,]6CW\!*]FW`QUSCW1(S)GRG
M<!?!$!#S'![H)Y56Q8)JLW?>G]B.)/GB-SV7:PCH2,BUQ'>R@\W/R@FY>M(!
M,#-Y3SW;Y9\X.TB/,3T>?M/"7']<H:Q[U!H-#C98,"I9BJ*LMS_H5K>YEKNS
MT*7D&=KQ`NV7#^J*$6\6"WP*V*-\ULS&9BIF!!U!9D>D'`3[JRM6C&P6NP!C
MY@ZX+FY+`/L"O_Z2OPA3>C(,Q,$M;\*;=HBGC>!@2K;@.I"?YQVY5W:,]]A@
M6]D5G]3,32R:IY=.;*(7YQ56FI>&^JT3S-*VM4R>I>\(%4NTO,MFI<%*/LV;
MIODV410(PU*]#*L=9%70T"(5:S+U<DA&O[Q[C$@O=!AJS'+V".K)BT6`0[=D
M2[R(=Y$5QF&AS3#UK27+/.NV1[WY^8>BF><Y,;=S@G6%$7_A<]<(O"_\?M.0
M]AI&8,H6(CG%C?>2YLV%0R9<'D$H?DY'^(#FD(Z.6)GC1!#)]VU]2=J].B1S
M`73V*+'IOK-['$H]XQ,_T7<1(OOC?D-)R707:.A9*(P,3H<$PS)T^40.[F"A
MRRU&6%#O9MYI4AEC@A!&`?[U$6]B$A;W2,Q!.:VL$K1T'$X:Z9':X2RXDC=M
MM==^&29B-_:$7)QC)\QB3WLI)5UU2%`Z1K5XW[DUG;OKZ:M4H:,P%YK'3,-*
MOM&7Q2M=P;\7*"<Y[P8>3'J8TOL7^8L;I\J!(`Q^%.*L0IK\1;%E/L0E$"6P
M:;]SYA)/AT5O:'=H[?O&`TB9&`X(N2X_RM(EC;+E!'$$2%_&OQ/4"OA@0208
MV999-;7G@KD9'WS>+C=DMZ`I%&9O^K=V*IUQ&AD6YLZ,^''):4+B58Q)E-XU
ME<WKN-I!XVI5@F?=Y8]CU8,,ALL?HAIL;B^`B?QB?'U<W`1>30`F_;H`\'?A
MS[\8Y-B>55WR&M4@SD!P[LY7NE6V^J':@S_EAQLF\"!T;EJ[+MZ2ULE_MKE&
M^DX4V'_&L%N9D5<K,J.I\@*I$H0%FG5QCBKEAZM4B9,C<CWK$2!@W$%R>Z<H
MN+)%>NA<H1[\J'2E1BE$PK<X%!6[4PM/LG!$I1HX*>=`Q^).R+X1059MKJ@(
M9K9$=,<CIL)J<D,>?$EC.*7#M"2@0FD0JH]'OF/^BA5](@7C)HG)?EC=(8AZ
MMA3&36[`A#!+<W:+OJCZHA8NJH_#__+75'RT^9+*RYD"5?^2(KE*M1`=222;
M,N$3/(!FAC=-1'"E'Z'DO2D0J0LI4^09F0@H$5G6P\6(6'B/YLB<H;_%X2[D
MJ-GK<DZ:X4EA%;8S$0[WU&6:2H;M_$2"E"WG9CR*L;+"[2U,V6SZ`-"!&&*H
MD/D-BQ]P"*-B?$E#T4Y)C%:]#9&QEKX6C14?!YU[,@2I4-*:06[/>^9D.,KB
M`GVS.^C3KZY/(&0#8VC-$MCW"QY\Q6'I&*`4XR9Y]$:.G.3V4)"%%M.I6MO/
M%,!*#\0T%IA9`?*7+/DU+R'/&-GOCWRT%>XL2)USZLS*TE?<46Q(\@Z2A*K!
MF9^]%):^`F08NDYMS!7!/!%RYLI3(%^&(`95K@LRY`.FB*?0<#(ZPS3M$Z1\
M8-RB:Q&I8QWX`*D;)]R"3^/JN:@5T0+WH^#$=9R)IDX]PVFQ07S7,?XJDBCW
MSF<(PCDB95X.:FN%9$=MK+B72#[$7;9Q5."D&*M+4U44A^D\I)X:IG"KIUZ0
M;+X]KB,61@C*!H+QAV%)VW4D.61S3-K/V<Z)"Q<'TG`^%64H*B"2<T.)H1O7
M\TJF/)(:JLA4)'XQJG:%-C.C52C@BL&`!,:U]TAZX8*<1.!C@3.I(#2!D,UI
M,LV#+UD,OZY9;A7Q!Q.4@(4;XT`]YF1\A)\#S=<6C#8=J\-]3IZ@TU)V0G/Z
MT$4FX%YG=@B8-#D?V$7_%73)I73T4704_N%5SHR07R?:N9-?Y:H&24X/N!^?
M?LW#4^E@)J&1X+^IL0UE%4H##7VU1#`2,IU#TP9B>0,O@DOONS9!F'J\)(OZ
M0/-',3#R&3N0V(LZD1X0K0S@I"0VG'&*(3W4E6(FJ2);WEB_-$$FEC=>2*UD
M_.K-N\\?/LM?)Z]>IHZ4]3X\'EG@XC=;6RBN^#JIY?+%*,<,O2K";\\S6<"0
M$B'+;'O*1N8\9U^Z18;6JV2)CS_O=GI###49MSA=F=)ILJ%@V=.D!,OL5F5J
M&(TGFX5)=&=$H)O83L0S=D&5HZ`17D>*O[CS.0@$C(I(G3\;6+\R[\P%9?H'
M5[:`XIPP6/+!J`CN4`67'Y(\F>*AB"V27D^Z/7Z1ERO@3ZBXYVYVBBM0V`<\
M!DZ.+*#9N\Q\MN5T<T0+17WDH#7$52X2PH\B/^L<00+U;'&3A"+9FN,.+6Q!
M@%%R$\'3?)3\O;0P^&@X&R"0ZSLTF=T5D^57,$&ZG+`EGEL=L7]Y<%]=1`:W
MO#D$R$C%\1&4"(;KP%TM1WPD)#T@-4A"4&TSPIMG%2*H*E#82O)7L%<2EAL\
MAYXFN(6@W:@?PUD@QCF?@47NW3#PQ5#Y>,6D2S4,W'%$AP)_-(4TX(JZT&%7
MQ4'>1J1\3)ZA('+AO\/&[H+`X;$K@;J%&/LG\D-Q@BV^CV8EKV""$L`0=80'
M'G53</%ACC;!#<,4C(@O^"AR286*EQ(17YW/<<_-]\N?"M_$#*``*9=FVE!J
M!@W5Y2`(.N+&FK`U!#%%J=&2%@:X?HDH76=?6^9@HN3=#:VIG,1NPU.2OP@#
MKT1"[V-=D[=8?("OY4Q4[%:._J2`-J<(?H^*)B%/?V;^FILK4L>S<H$TA>G.
MC;!1,M<V5]AC/G4X$+8=7XS&&B,I9#G!V=(+^SL3>K-"@ED.5("#(1E1!J=)
MK:<<6JF-@]GWJ]>(=P(1L<K`W*J;?)(.I95$+^\#6RR]X)$QZ=[(:%>8ZCQY
M3W[-?A!)>T@UHKI6G1V>2[++Y\RE7S>5;MMI/AXJ1W@]0PHJ(>@R`]B5`]"5
MO+HT*YCS1'[%DA`U=B%!_6QGY$',B%SF(J0;7KO//..1)4=TAG,F"IM$Z!3^
ME%8ST1[HON)](@O;C7B6I8MN$?1^V"%G(22+L>+`P=R($#/L\'"1CY/N@$*&
M#X17%^6JCO3$8QY@"ER'H'A=PBBR$>B%5(JTE$K(F03L8VID7MCG\*=J+#,U
MP)!MKLV\B8BR.;W,%*I.\;YJ9=4I69`9B+ILH2VL[$-:L"(ORL?`O[WZ2+SF
MNGY-E4CPY$G\63$,>8'AO1Z]5U8N9(4(R]+R_I1F99S+44JU,+Q[\[\B@JN6
M^)G<<X\>M+A8)#1SPUFR`&KS.8]12Z%6F2.'4RB/"2@GP.\\KA[:OJCU(L=M
M$'R7&<H??-*S^/+Y.YT>SLI1%`NX0,.CZ08I3TY3I83`G]F1\*`Y;L235)TL
M-S?*RBS)[/VQY+%R."B1>@4\VDOX8[@!J3]GCZ9A=?1_"T&1U7&)4BA7NB)Q
ME=S!%.K*<I6?)0IKC`C+8AYKQ!2M3$!<YRJM*+[P(!&D"*0T:J2\;`72M((4
M7Z]&&?*8E:6ARL*BLHXSQMSZLG(C[WO/V\-D9Q(BU7(S!8=HEOUOXMR6R/`U
MB429,"%@O_O!@T>YUQCCQ6640F$1M(4K`"R$DAE30]>5=:PLDCF/\Q34]")$
M674QYHI2(K?0AY!\Q78VEOF1<U<6]BF6GLH97'_NB6NM<`+\B\-F7()O2:]*
M_>):F!R\)!<-68+NF_UC>]T+?]Z(\5E>=3:3O`P98IHC(.O0E=J1Q]2T-D5X
M(ZVC@->MJ39)BT$453>]5]G-C%)7E2CJLK%*;HD21GBB<0D1K9NO62LKI4M=
M8E0.QR^J;W.&#.^A>R9J.1YD)6G(<ES[AL<GZ8YE7$V%&`-&8!EVC'\!LQ*5
M[MC!A@LZ>E^A*)E>D^J]W,9%7V?I08I@K/1*%&"3&>[Z@ATT.)@S%Q-`;(@Q
MKE@M8^)7B===VD;\$%R!GK#,W%"$92X?)2US\J1R3?E*PGQ:2\:-!=)'>"P8
MW\CM/W9/U,8EMOHE`C',2C)0HU%TF31VQ\LL%A@NS+Q?/KE@4ITL?2>J"ER^
MH*LT$K%KI'00%3FA`;91X"6R3#25\,LE$[E_'H\[X@.D^Z!:)IV'(I>>VW_*
M9L4]3O4P8@*@3LW=6'J[/2SLCJ3W+BM,H`W2SH;=G^1.<7(6X]"*`A$*\V+;
M";3\`((X]L@HZAB@\.2PP]UX\F#<2$DAR6JJ8`W^#CHD--H\)L\$3?$?-B9#
M2O38^%XBB@2LUQ!9+/81$&O*:K2T(L`.97Y$[$;HS>\87^](-\@EF6!%<E9!
M2!(<F)]'+F+"BVP@`(>9D33Q3U*C)<=)U:M<Q$]$K'/V:+%8V21%CF+9G.1$
MP9OX\TOZ>R%+I_V\X9SXV$9%X3.@Y.N=+3H>;5`67E,MB<`>.M&C.YL73*4-
MWM+Z4R&9\1<^988Y5S;F78$N["?D%T'/!;X@,F05H,^]']P.3F(T$HF9"!=6
MYMCJ&)]#*2,=ETJT'%G+B0YN:3XAW0EX[1AT[)M$B,Q".-!$1:B3Z@N%;##I
M+K&]6>*EI>_RO?>VZ]DBI*GNXB[P')$*PH\'MW!3>H2:VAN7VFGW0"XL[!M1
MEX5D*K!`):NN1R2!98#8@TXAZ]QT0I,B>LM8^;MCQ[8>6MC&H85T"*T<#'8X
M0-(A8%;W5%/`_ALN40K6NS4^\(K;:<\DN)*D=TVRS9)L];EU*3#-<M2:;:7A
MD9N"#F6(_]!V;]*-KV&VZM.MV,D?R0*]C4&X'?YSN+.:X@]$)V0F1)=`\6\9
M^KQ]3?.:YK=0"IC'5]P\O@"ROR9GSK$HOGUJ6$6`_JCE-ZAX%0YUQ2J^M^XH
MBIT;6O?-[OBIC'!3V=O!UM!G=,(SVH'Q-#2$J18+S?RAY'S,O*)-*`P'5U,N
M><[8"\OLC?8=:;P76EZVFP9*-,0C0]#^Z7_Z]-N@4>XT7G1G6ZL\W%82<6BC
MMGG\H;4MTAFT7J7/J$4LJOK8KN'DIU?&'A/^/E2+B==D"3)VN!]L^[:ZLBI/
M-*MK:<L%UFQPKQG(D^YT3SG<EM,_$^3OO5+S5-#OF^-^7Y-!,\N?;CBL2B$'
M'13;[73W-5B/AJ]#J_$5(?V+.H/'547;V>E1#6GG0^OT6M43QX0U?2K.^=:B
MX$F:&'OY<SXM^5"=>@C2SNRFG=E[L_$GY5M]`@0Q'&M".,=5&YF9WG+4']HT
MV-O#_U94'V@?__DI3AH3&A,:$VTQ)DX>HSB%4_)TGLB#>A^;"%J<`AWG30('
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M)QH)FIT>V;.\EX>\9BL8'1_4S0HT01R%(*S!009072@EM&A5W:V@R9`$P:?[
M%3PMU4EC0F-"8Z(=YL3)X[ZZ.KFQ@,YX8`X'NEW!L6F@G>T*K+[9'S>=D:J)
MX:P8PK#3>$^\4[0K.*>9Y2>?-O\F6"QM_Y$`NK,CPY[-P@0,)1PQG_A+VW6R
M@(L1S(WG8[-O#<UNMVL:06@\[W:Z$V6T/#RARG@C2.(HAG<!31@VO6!EL+8)
M1ID1LFC)9C&!`0^Y<43;A7-X;;Q)%HEGQ^X]0IL%U+.XT%=:ZH4X^L'X5?K5
MPC/RB<FKER456FU#SYF1$F#_@8E*2=LW[-O;D-W:,='$A),,495ECD8C^FT9
MQ,R/7=OS'H'(P$!'%!,=1<8\#!9`2AFZ(S9+0C=&O%8@*@&%0WTH3$E>\'[O
ML6,`L!%;]W+<`R9KX-\CH/N0O`8&J-,SHD)8TUEU)DBBITLPAXL1W_&3>&1V
M&!FL?*:\D4$(^X"ON*'!YG.`U'@($L\Q;D!_AA.ZDJ>CJ;996.$15_Z0X`_O
M7=_V9T"2!.`'/XK#9,%D2"1)=T+?,J2;'J!`7CJSP_`1">3>]A)&A#FSHSO"
M,OW`_IVX\#=\GXF<%NMQ(R#.&8./@0Z5#Y?V(QE-^%W!DPDDS[5O7(^3*M):
MR.PH\.E1!GM?P(6CA3DQS6WXAX#FALWL)&+BCT"J01C#6<9(^(_B4_@S&(2+
MB.Z(E`T((*H=``AGT-E;B5'/BEE.!/2#B"7E7W7#/)?=,R+VLO/"]P7PMU"\
M23T&+P#%(F;A@H!PV$ULV,ME&/R@72M[3;>*B[A8*PU'8X3\:'RYSPRW=)#W
M=NCB4OJ*'?B*O9-DFO+HZRA*%DJ;]"W7;!FRI0W8A.<E,2.OQ@B+C6QY+N\P
M@`4?<!0C"P]\X,P+I/8'-[XS_GY]_1EH&^XD"APX!?N6'B:XX@`^^:Y>*KJ)
M&:2PK@T$R+DUP@!0P8W"6[+@5QA@@^=9S+^:N[@^:E71S`NB1"I-/HH66%U\
M)SV<W/?X2HZ0JOASZ6;Q>^M`"N'Z^8D`@OU8,C^"7QS@`G`1LR_!;P0""#<W
M<#K&5T`^EKG#E5;/A#@0G2`>#EQ7X"FPB,/PGKJ^?&>&'X&T?WUX!]2F7%E^
M!JM\A("0O`3XH^<%#[!A+F31XHGGB9>R33.%#0_NGO,48!&P"\`Z[1B`72[H
MG'V4X*!'W.**\%7B+_@MA^/`<(%GN2$=J4EP(*A\"RD<Q%$<J64*C2"V?[`,
M"ZF:@XH+_1V`FB<QHAZ>I,,!L!A_V]Q`!'&Q$,"9_Q_7/Z0^(?5UH<F.7D7E
M)(`J"+P[9+",#TSX>A8G\`10>N()"A'0(.D_HB``3`M5#(@ZY!J8<BNR%0F0
MM1=#,]`#,]"OR0VG%\ZIWMU7T4]^3Q$)]$5DC-!R[9G9L[OLVAO\RIN2#I&2
MX/9%]DSA>\$,%&;@?D`T1.,WMH>W@0"*[AA<'F)2\5T8)+=W&=>B+Z_G6W`C
M7*`D9.*P+'-)$U`Y):SIX`'21H!'KV?^!(H@][P.@F:N/`/'B-+3E!M.EJMP
MI]S6PQ.BW]Q(G!F7)OCGKYD9(5G7NQ^S.V`QM/H"]@9'J"_(@2_(%S;S@"&1
MN.):1>HM*MP0Y8*\`1%A`Z-=`O&'!IIMJ=2\L^]1IV3HII!OYKU?A$J14F("
M4@"`!0TE@G_3XB`Z$[I>>9B$PP4=:=+DXZIIGIS]K.O,"[@#T<M,IKLECZL"
M8&Z@V+,U3SX2R4E^?,UU$>03G\/`AY]GK)()^<D'+OUH6#WI%T/TI@:IH;SW
M*WH_[-")C-<!_$ORS+(G"*0_E\3$%`_9]=<_%6>8\4?0H36ON@/32'?W'M6S
M?Y%Z]CN8F<"`B>V^^!8LW9DQZ75?_F)<PT<.ISBX!->S.S3OB-D!.9>_(%5M
MWV:,_0M7(E-=_<_.UPY7T/'!#^^_?,W.#)29KW^J((.M&<DS@.L@;J$GU/P/
M:`#Z=`_@%+/S_)+3<[,C54Z)UE6.R>IO.YPH`]/$`P'=$YVGA@>TQP`B=*12
M;-:X3>#.HB)KWX`BIJK"BY*C4F1@J!P5%VP^4'R4PN\$Y+X"ZF9"`156OVH@
M)[&)!C&(5S.%L0#17?!`7TDU7_(92*_4<NDA#WP@OY\+VK07,MN!#4:900!\
M=(EF0(RL*?$=D.5XHOAYBE_<`7Q'@H_?Y^P0?8$`6>:WXZX'^"Y9].Z"ZYV^
MCVHM5UG0QP$WG*P.KIJD'C=KR"]57A-P`N`7_+"6THRSG6"9F98J:'$@F#9`
M9J<*<X%[E^CG:XS391"YN)"9*N4YEHVG1$ZC.5@::QGXWWY.HJM;VU[^\CJ)
M7)]%T5L6S4*7MG#M.]@O(OHT_ZP(I&]`&:^]8/;]M__\#PSH_&W)W!^__$NX
M/SX(=\D[(-/X,7V6#%3XY0N;__KL/5@&<)B]JR[</BL.^,_3JW[WV6\GY\W%
MH`8R!"]![Q4WV)%4/2,F<.#$@-P1J,_OC'\$GC,+5,3A7Y<<1;EG2(,D?<!&
M0S;G;N+.J^#!9R$A%+Y(8*1?-L'69E)A**$6U[\/O'O.::4:*KQLH(9S*X[,
M8:[-PQ%R@E3WA5%!)HW/!U31.>DZ<"TEF>.MXJHJG<LBB.!4,R,?>17`-B--
M`Y8'8Q1;9L[PJJ'*@XP"5!MAS7*7FO).EQ\Z7@YWYN)>"OX5,D`EL4OUNM!*
MS_CL<:L_LCU:ALD6>[2S,)A)D83<C3&'8D[9X[/@"AYRDIDP>&%#'CV?:6#H
M$'&C[PIT0%KH*;R%772,]TF(^%P$(3/!+EA_QY=)"'H^Y[,NB3"7+/Y>]R=!
M#'?N,O-%@H3C%$5`"*J"MW^:Q0&RJY$IP@+*<F:.'%9?BH2`#-$(;N#B\',%
M,K-OHB"\,5!Y%+8Z]S>C1NNSN2M<340$,V+O:E@&6+U"%/B^W$T`40SO%`PL
M!RW^[-/-6#"!+A<N^:-8%3A@^"CN1^$8$$3@X[:O>HV$'RGCG@K/+$`$:M0?
MP3UG^[VIJDM)T"2RZ+0P8,UU`P)BO!E?D@.@''H^,(?='D6R*$`4W='BF<S9
MNCAG%NJ2!,/694<BG":7;8'&W#X=_8SL":":?R9PVZP^]S.B0*U$LD:_7X->
M>UV*VR/EW#QB:`6OU7,K^U304\J@4:<N>287FND8KQ7QI_I8;"ZS`H]\)MG5
M70NEB8JDXZ)-'`OW#0:>#'SA+=KFL`GD8US7<C.N:Z)"2Q$=T$&!-0#+%^*/
MF_!2OOB@"R@@J8"@'(?7"DF;ZFL$AG!N&=RQ!4?WO#<V1X-1&M).`V3D+R+W
M*7IS@8W%#Z@F$.O*^;J)(TJ9D3J*0Q>^1#D7-X\Y22-$U?-T63(N%#K`+UT1
M^I9N;'L7R!&L'BZYYT7[4XAPKAD"+:7>O*U2G=L&6RZ>2004!S$Z^[=?2\'M
M9QC$1=L`/>[]P4^(V]'XI^QFK=504W=^6'`$I2[)LG@!7"-5D.;"/4D(=@D>
M/U<2P9+C5@I%L[+MRRU%JZQ&7&"A/FYT:<G[++W":H1#``9*V#]`A;U'0Y7K
MLZ$$9^VIK%L!.`;&;6:VZ-RL,JP\%@B0#!.X=`*,`3VY4A4I643VA9;9SD5U
MEMNDQ)XJOD6&(C<PKRS.5()J9H=H#4=9AA;HM#P[Q8`_,%#[_?A.YJ=\!6M'
M)*AT277IR005RTS]E3DNST!=M/&$*@DA*5)@J=XD%2@BX:>8.<;]!8K2)R@4
MA8^#+HI[9J[;=NHCE?>#9].0H23W,`\PA$?QCC`@BT92['S[`7'Z6#DD0B='
MXI:L=Q4BLB2?]_IF;S))1<ISR^S#&XG5J]E+IDB%B"(9GA5)1RLO['9Z/,$(
M<_3ZA1RH[?+A?"7%T](=U<2CS%7'N4(^Y*`D)'!7"`D-ST-'%K!T2?:9^;AJ
M7?&DN`BOEHR(I=?H!04D@B2"E:.7)85UYZZ!T(H'(J%LQ)HZ4JTX<HWV^>LS
M,?^AD!-.J%Q&`(/\*1VQ-NG^Q"=_5-EP5@Y$@#4YBZWI9/!C+578WO;!)J]Y
MZ7=YX7>]\1VK0GGG$\F#X;&Y1D=M=*QF&K<5&TW4!X:W-R]Z_8DI_O]RTVT7
MO&8P^FGWG;U9ERY;[90%"+WC]>7<8Z_K2W]*5^K_M$=ESX;9*TUOJRZKT#A;
MLU;/[([7C]`\#=J:X"E_;:LYWG4+G\B;+G-P1!KMQO,[-,4=ZP[M5?4Y6M^F
M[*B;T<@8F/U>Q1O?_FM>1W78=3>?2S.[-9EM(;.)V9^V@LXT-EY9PZ$Y[/7;
M@(V3"/>20<_5;44N\:M(^I,8ICL8HX>DT3IPU.QU6EF)>#I>B:>#_-&T(OMZ
M`DZ0[>RMQ[L"RH_Q(9S>4)T4OU%T>1^FUSM%.\[7HE7)NDXE!S##:T)0C^Q'
M?;-G[<CU>JN=(8_)]S3^&\#_N&^.NNL'HIP>_SG6MQK2;97K1IL+1UA((^3B
M$7*6,1_AL%4:'50[2ATY6+/6R.R.*JKD.N#3'K3U`6WK)S"=!FVM#OA\E`V!
M#&P&9(JB(\Q%2@NQ>;:HEF&;H\.6:4TJJK):H3@P,L"NZ`U;@8SV^4YJNX9K
MZQ3:17@(%^%T_;CA;:>OO</GC?IA>P,#+8EW->00WIO5::_@_E[!Z=@<#"KJ
M\-HI?''H'X_,P;C-,0')\NC'?./T]E2TG%OUS6H!&B^@SA=/EC=M*"F?E#UI
ME/K)LA(WI$MJ$J/6Z_"B.2S-"^:\N+38.>0V9+)UD&AN81JSD#EN'(0E]3ZB
MF1"5E6&5<Q)&Q>8EV!L4BYW5MA?*WDW17B)?&XXO%7V'>'VW4EL:)4MJJU=L
M-F'<L,=`U#JBU9\V#%ZSP374\[>?JS2\V;<YCJ4TQ[&NK-Y5WVI!<QQ\)-^X
M[(W:F576F><K:_'DMK3DE:C=WFR'4TFMOCHI`>6ZZAA[==015<FE'76HV582
M82WP#?."!]YAA]_I+5UVC,-VV!%\I5*7'>.`'78(CFI==HPM'7:N^6'AB6:]
M<U+RN%-+O].N74J'"-[[:'//FR!<:7EC[-;N!O='35/3EC>"R5('.MGT6%*_
M"O.#X'EK:]9+VN-TC#^K=QP2?4.J%6(?I-,0)\ZMW89V//IJG8925K&QVY#1
M4*<AE?.E#5I2L5L5&=3UP3;\A,K*-O4UX&\KK(O=0GCQ^&H/%^J6)T#)D/=P
MY\[NB"*5]OF`@>>6.123.8COE;0M*?#=[$U*LVJZ'C<@LFS7ESTE.*5B!Q=R
MR\F.IJ+]^$LJG#=K=31-RY6I4VOY?(TN'95HX4+P9+>F<&%OJ/5#L*Y5"];U
MB]+IU5-(J(L(=KM9W+A^RO6`_K[S/LAVVE"'#R3@<_'P[.W971Z=67\*!0BX
M"V`EW`GF>,]$^V-BMG&TJ:L-K@>2M`WM8"Y,Z4_KWCG+H?+M*%G`(O!HM+8?
M1]J=7IW,L>G.R_[TA7;U:R8+9(8']M]L7T5^LT20%<VK1?+%(OK:^Y'!U6[W
MI\RSMZN#L,)08UFD/ZH<$<<RV9J.ES1B?+RH^_Z.F\T+%*/?-8/MXPTAS\+"
M:X;='>),&_)+KQWL6BM\5K&6<J<5+F<L<*]K]ON[TE+K*&<#PZH(:\VJO"=.
M/=:X:PYV9D6M(Y]F&(]F.)M+;C9%U,^,8"HH2"NQX3JAJF^A[3`??0/UL+/7
MHLU.%J:E>2C^Y`#LH7)-NNN+CJLI7(?&R:%Y8#,$3>'^ZSH<4M/TH6C:FH[,
M47=]LO5%T?7^JF%K9'!K97O]%=LNX/?5"#F_F]6H$GGB)/1B8@Y[ZQM^-4(^
M+]O/:[`ZP$BK`S2QK"&6H67VQM,SIY;#:ER?Q$!J?W<FI#6P0VE@+ZR>.1SO
M:@XW@I=3,L,&38J/FJK;0]7CGMD?[QN@:#=5'Y9I_[$^*GXOTOFR#QDE]&FJ
M/S753Z=F?[*^I?(E4/T.O+Q?@^I9W(QKJ,::S5)2K]/+<O$/%4+>OO(^C7L'
MYF30-.MN%A\EM%RL!_#.*Q?DU//;Y,A!GH=99^R@<8B1@RM)]YO'#FY?MCAR
ML-K4-YZ%6&_RF[%QZAO.&95[B2K,?2,(-L]]BTHGK^>&OD4XD`VQ=GL;LEN<
MI?T<SF,X&6X=`2<@>#XR!R,^\TAD389,3(F/RG,.U7WR<4>;9\1MF0C'4_NW
M[E-G"C8**Z^,*4PVRZ7T@F1Q"5V%`;)JRF[)=2G>.C7_-I_4.P3[>#`=(^FE
M::C/P;J8],;I/$=0&C";GZ<3`JGV>B/U;S)C%?\X-,?Y+\I4;S&UC$]66V4A
M,E67IRB6Y^M:<I)68>95/D46F1:_9E2\8'SB52$T-4(E;'C"#=/L;0G#W`TC
M63K@S?&TT_7@.<X=<J>;SL>C3Y5D\!4(^!(A8]ELI`0G[44X[OW?B1W&^!2\
MGE*3"8;W%9*8S1)PQ!@]CC0<#-GO3<Q^OY>R(W6N',Z-[)N3J?AKBB@N(U;&
MU'6,?Q3&O!6/=6U*/!T!%LBDQYJK@<@FE,E=<.ZL[J1`O?U)WYP.1VOWA:E7
MW<*^2D;OY<65BC6"X('5F9^HDE2V62[LX3TX5LL/%!D0;7F;<A1Y:K5C(@S-
MDY]4R2:I+VD5H^&P:`:$+8O1#E*V>;QRS2V;:S_UG"FE<[3RZD3@JUQ248E7
MX*<Z1Y3<1*[CVJ&+X"#>:306H\(#3CR%^D)>XT+E+QJIIRKA)7\/`?=[AIUK
MB0_:1,7RW1RZP=RA-QME;S5>2,XV?G7]^[7\9?+J92;L2,P27$)!XJR.FS\J
MAR':(;'-Z[N8H"TL=Q':6'G=*AIN-TPJ<D713FJC*)J-6'COHBB^93Y.N_0>
M9?$LMR&YT,;(WL+E*H0)/&[A^CCL,I3:7TYQ2#D[%GXM/9>L*+EYT#PY>U8N
M1JI^BP)??.N-2R:I23,;4=_%JE=A`']G;$E7"PMY>5JL@`AKX.[%*4D0@1/'
M=O2]4!Z8'2VR:8]/$D>EQ0.3,C0$-%'@^PPK'47A$#PN8.1\01Y>-I,7<*[V
MV\./MKU1X#8]A1Q^104Q"MXYH)I'H33G:'Y2;!`IA"CJ+R/,MPYF[E;-EU2`
M2&A'Y51!-VD9LGE"UHSP4>3L)*'Q$!3P)&G\]_ALXMRR.$>_.5,Y5^(MM)$,
M"C=2+B\M"B?%2_ZE5AXE:9T\@@?;=N[QUG+=NPQ4&MY\+W:G'!(=HZ$>H:;5
M1F&]CHBKPM%FC2G0*.)HERQG'6/*#7:/1(WTF#OK<&(V#?4F(XO9((M6F<]C
M.C`^K3@6+C1R@@RZN[S*=3SF=(P/F?-74BJ]!$32G($X<N>&DX2<\3\:D?OC
MBJ\!J[D!)]47"V9'2<@KEM4!L422O]LA0-*WJ)\#`D7>!1Q"SFB,>OH`=[J\
M-.Q2L,F9Z_L)(!#=2NDH^1L&N^5L/*LI%S9Y;/]`<G#0MXE7!5^((-D+]*'\
M'_]`41W>O?[P[6U.>\`SO<4J:%^I]\:.KC:6>,94Q8^CS;NHP\);V:K!\@`R
M%=L)$-IMM9V&<1/X280U22@M`Z/_D]0;`'[1Z`+8`-=0.&QPP6?8]P*8!WS&
MW<J<166^8&4%SDEH%>D>6')5!0@`]K!$^RDVGO<Z/1#=(/OQQ"7Q%''-UUF%
MWR7&=,-2CS?`W!O^A)0#"PJ^6B)/>:>$[$R%E9@J7:"LD#ZQ2!8&6(XA:'W&
MH\L\&O;=ZXR[`C-DR6%114PT*'J&$.INDNB."6<SM@8)_1S!F^@9V;`A0ID[
M%SS;Q6B"P^9VXL6(;G8O.I'(S[)K7ZZ9$1Q%/4QQ]5'K!:ZMS6W7@]V0:+$?
MN8U+R!:GABUF2!'#FF^.&))V7I3*HES5-Y>CMB_N"0X91I4-;KB1+.E6/*9-
M5\KOWXH4$TXR'@%P95``+L.H6[@V_-JF=X;[&K\%V(N`$0J(F.GLX87D):"V
M.WC'63&PH"5;XUH84LZ=[0B!DG;-HF15U*S<'UPD<!4#D`4R+D+RR3A$"';,
M@^T)3H'^=\)9L,QU^\E90T7!\[C$C`5^1P*?_T&P+;@#H2!!ZI"!["'GND$J
M#*CC$;4N^K%TN93,R]X%W*3\"T@\RTX8*W[8TN?Y31+Q``IRP9OE+3&):V$3
M&&P@!(2;*0CP!P_$9&S`]7#LQTB`#!S/I;@<OP1R.8"=7Y-/OO'/Q&=RVKJ(
MX1(<*!`7W$O/5;^8_X)'AFX4[:P]J+.6.\A%F#5$89"(D%7>[Y@^P[7TDJ""
MC,7RD-9X+`*S(?-LQ7Y`G.\;NC*E+L=UBK5M/E;;#:V/2:R+):Z\@WHF(96;
M(J`L)9K"\=%F\NGU))9F:CLX3<L']MP);Y;PW4E7ZG7F,=K5=Q<Q8.#(0Z5N
M5NJH)8(BS5/("QZ]7/';/=P%$5/U2#2F4S52)C3<AO`UZF4G]):9EY#0HK@'
M*58BQFW*WD@DW1@VU+O+0.6ZD##*2:SE5^\8?Z9J7RZNL&FO)FT6G4VHRZ$T
ML.?P9=`D/0"1;JC\>CY,8DHA+3)*I#F9?RHS*5ZX+SDP::>?-+(O4S<>*?=4
M*%D`5.A<<7$KGPP+.^(PP#T%5?F%N[)`FNMBQ("""(,QW-#B_(]KUBXO7G!,
M(WW/RHOR:JH$E.]493H2X[3IR+!^RB([TB0JVQ8_@([Q3J&XC?0INLP)]8C;
M>4)%DN*VJ""EGU?2CUS0>D!;0-0IN@BE5!5T`#3DF');R^\3.9JV:@AY@RA+
MZE%,(%750!U+]'FTLW/B'A'&R'%L$\60_QK.`1T./MH%76NH&@84/P]BLIJS
M9WH]]2'-\L]!?1EW%?5EU.O3+P7M9=/-2MUIJ6JS)OEDO5HCO\WOUP8MAVAY
M18\I.FU$K";54.@J:>7DM)V!0^Z]^*RT@45R^`?\PVM:44%74:[A+*YT)U<J
MD.XFQ<6HI+2L52*JPL%E,L&0>FS@G@:N+Y.DTA!<)&QDJ0_9MXPW.$5BGKDQ
M=K^\!:N4G#-T.C(`ZR@Q2!-]O?@B'O`T"5(>VZ3(7KZ%,8^0S,BC)7?E,Y22
MV`E5B;3B&^4&BJTH5=<6:'>@/:4'D85=9`R0'PC&4HMQ5-X!EC3%Q/<"VY%!
M3;C/]^R1O+L(7YID(.%1C9LH#L@?21UX9:-0D2\)J/;$'H4^!WJ.=(.29B`6
MO+,7BRR:FWU-\Y*#2CV4`'&0=@*V2;WD?OPA=UW&7"?+HQ"_4[A@7)(`08JN
MUK+!K7IA4]*D^X-K27?T<VOS>FM?OX;X31'S$8JRB.*4!>!EJF7N=BO>M-O$
M)NN)2=I4?>0R$VTE::P&OR(!F@I=#,MC)AOYGG.:+^GF5=^9U\^-"KHY07`H
M_;R>"-E55]^\"E(V*3QWR(N)A%')'@R5Z(A,]-.<YSST[9XY'BKZ]G!LE;H+
MRPA#))JOD*!Q1.5;.OC7)S=KY?O4L*XHWV]!YW,]3P9&_HX"*#(.XR-TTK6X
MH(NV>`NE.-U)\<YY"W-Z\AJG(8?%S+Q(\EJECL._WOX]=1JB',GI#&L5_6J[
M7N<WY-E+RKZE&A$1.`4?8C':E7H1,[_B+@[$5)YO="("/(K3KUGG(3>"2EX&
M<I#S6LH(47V)MYA/Y=-\$,^PD_@N".4P$^0Q/D^"S'@4J&J8?HHOS2$:TS\(
M85+7EZ#=UW%K&N4N3?P+T(`=\V-\8;\TAIN]G-S<R&&*!SI?W+S$=`^0'FF>
MA]`^<3O`4AUISA`";-J^4,0JT6C;W*1.GG5M9"F[*F&(2,5=6G#&*]Y3J7AG
M'M2U_E+"D30.2GRE?<5XT/*O_6K;P!SSLD<1Y>UV2]6VXATKN-@/I;,=U5-Z
M1J1P5K"6EV)D^=5*1Z75(1\5]+:9'8;D'Q.#0LAIYMG`PW%*DF31-A\%PB>N
MA2(B%&.5@R0ZKK$I_H/544AQ"2ES]AR)62>1GB=RR?-$.''A#UBS`027&A>Y
M8]-#1NIT@C&[XWU[7NLA([I/)SQB#<Q^;U=::AWEZ"$C1Z:>X=`<]G9M4]XZ
M\CE&N]=:[$BW!#Q8@WUS--7M]1OH"L=[O#9"U;HWX![3GOKFJ'L)S0';9BPU
M;!'MW>E;VT+%@8O=T>!R;:%FYA5<Z7D%6U8$_MD;7OZTO`8563VLH$7:['"B
M==FF=-GF"%LKM+OSXY$Y&#=-U+K9=9N#*MY*LA++Q1O3\-=7T=_@?8AO_((9
MD;2CBME*2LMJ8]!;UZU:>3EFR'^:Q0%UPAYC$*L[ZAA_RLQ7F:=:Z/*(L55\
M_9J7YBO:'<8+QBG'']NZQ!2U57>8ZY?D+C#?_H;Y##L/P<]F>CJB^02\A*H&
M5KNLKM8$Y\^R8[R;SWF`V?BG[2>X4FG/V`+0_#`XX'Y@>*!WB@2I$G@+:Y*[
MU6$[P/H!(^O?>7ZSFR8E4KI7L6U`\9!S?Q--PJF$F6`.'B@GP^#-#7F&#AY*
M&G95P:?W+0+`<@2T3V%4/Q9MT7CW3JI@C0S<8K!P9VHF=L?X*AK/BG+J;!F1
M7^(8+&TQ56B5F#82DOG<60L#M;"0>GR8N3Q2GD[E1'$P^VZF34-FP97H&L+C
MP@"]1\^GBX1N]%V%@OK&L5M>0HM9`D[^WIK%.D_`Y8(Z<ST?]<R1Q9,ILH`S
MI558$W,X&<B_*"(Y;:ZRL:UZKG6Z;<R21>)1<SN"`PPA[-SB((=:B**9D&'3
M.+4A$67VF^,1E<'IS)Q&84TY#(&SD<O8LQEFI(CD+:1PU[]G`G$%1IW5+V#H
M)GXT%G`'`L<42:;\LQ3!DD`$%Q?-$$7+J1>B`]M+4S2'7J6Y".Z$R.')>DK!
M`YI6#JP8H`(@LX5K*`&?,C$^*J,TGC094WM:8/H5E0,:9('LBB>"26+"E(="
M^W=;S)M`OM(S091O8BQ_^WG)W!^__$O,E/H@5G]'$Z6^P6F^]H!O__:?_X%J
M\-^2Z.K6MI>_?/"QEU40/KYUHQFL!KP^?98&:,`O7]C\UV>P@P6<0.^J:\'_
MXH#_/+WJ=Y_]EL.X@L=71E7TMY`,]R)!>:PH?ZB4*Y*=U;EJXWJDT-PDWO>T
M0!I%4.)[S*:\TX1Y/&\7,ZDH[<J12;$>:AI7P?P*,PZO@O!*IJ83T\(/5<T%
MDTCYM($K5W35YK\%20Q2$$!#G4A0@12+"M39$`%,OD+*/';ZU;DPKM.DB*E1
MCF(4)&]X4S[>,H)%Y4^Y,$?=VUK=+5/_O:O.@V-RDGK.R&/SN7+H`*6`>?_7
M9[T4[2HUSJCDYI51\,&\YC[%S*/8]$;2IJ`IO"))O_)<Z'8?>[NA:RE1R`S?
MC"9$IN^9GGI#ONKP]N9%KS\QQ?]?-L,X!8<?=0M!4X_-#W!:[[%+Q!UH#;=!
MX.P8JN[5%D4'O-EIJ/<8I[=K0'Q4%A!O'KR)V9U4GM!^BO/;%\N:\EI*>5-S
MT#MWRFM(2OR%H?IF1,/AC^6O(/R.GHQE&-R&+*HK$%IS%UM!0!4S6)J';6!:
MU5.FVG]BK0&DQ6=T%*KJ3<Z2JEJM[A_^A+[8#P;6-N.H)\W0S_+J669O7+F8
MH?TGUAI`6GQ&1Z&J?O\I,_0&-?.C>+8H+?=,76Z5,@QW=F2N6HQG"GJM%,K)
MH'+^Y"9J:,65UM3[U*C7,KNUS8GVTF^K;8SBL?4P]_^5(3_&0X,/>X>X7)1Q
MOR>6!;CMOO<$9)H6?_BKOV<R?W-`U^Y&,=[WU@MZ:,6]UQ3\U"AX9%K]?0/?
M;:+@$LG5<)7+KGE66PH?:R1@E:>,[9?Y*+,XJV1F%K,XW\*;[FU,C_[@1W&8
M4([QM>_\@SD`T>UU6A_06);G#FC#O%[^STYOZ/K/UIYN`^OLW07R)HE<'P-6
MLDHF7\J1&[GU8XF-AET^$]*XMT.7\?G`8KH8UC]$ZI1Z^D#M_\B[M(O6LXM%
MX&#:.?5NC=(VPVDZ,19/1/GF_HO`=X%4>!D#K[2(1&U(5A!#<`+F<<HZ[],:
MLUMLSH=]8V4Q2+%6@P)W]D),;KUS(_D))</?^G!PO$MMXB]QONTLYH47M/]L
M;7X28HPH8]_%'`;LH"N*9W"X+#R)\T,<;%_,L(*%S60_0?X"@N(^P,H,6F,6
M))[#2W`"=:"PG#NX_2:?FM;..Z_^C216`O`+T`X!7DBI3Q]7<^O3EU'/O_=>
M\&`@MQ(EM.GW?E[YHDKW-#;829D?D'3*_<3DF1A+L:B;X)Q:1V(Q$,^!]I)9
MG-B\#>7,3B(^;U@AKK++2*/?18MB(/!D2=U;'YAWS^2D7*P+"1U>"B8!`)D3
MT<V9N[%`B)A]A;5)FX@_XR)X=7CC;05&H'J9/D[U6/20;/Z,T+NQZ'!,@ZS3
M&6_4#)W7>>&K<>#V/,$IVC2:&5_S,];.R%%$?AS:"`WVD06"P:>]@%\U?,QW
MV(^K&ZJ0Y!!2AVD.5TG39(F].XYOSF'!H'67O$J&IDOCS/AL$")-`P=BE%-^
MB9')SKE;SJ]X:+)Q;48WV=#?&_P8*_)X&W&L,0QF1%!B+(ND)`$\[_HF:Y-0
M8&!+=8;Y^KS*[)&*U/CD'W[ZP8W"(:E(,-L[P:&TWY9U:90[P><328+DZ(I2
M=-YB=^M<B6*N`%1I6J^.[Z;<_QS\H@$Y%SEXN>9416!S+N\@*'3PO&\P_RR]
M?T[`(C[*?3Y'PN*"`1[PJ'NL1)R)AY3*#RP97(#HX.V27=[Q7<XFH31"*K3I
M&.]%YV(?()*WC7<_3K.,T^QBV?[8,DNK-E,DT\QF(?L4@I"X%JPBQ;>6*$>7
M*"KO_R/PK]YF]U,1&!5+N;<(#-*'*5TIY?8S%F*=IVQS+:O(:,@*77[!I&[$
M5`M>N@7O@B\_V*&C<$_>!#D0G!EWZ0I%+L^-J.0G1Z6\E)&XKVBL3^0H2QV)
MN>"4`-P(UPP5C7)NNR&O(,HJAC.@<*VT\#7@18NYVMBT-';ULJ:E:_S"&NIE
M54]=^3:Q*:IHZW5[65/T?I^7[@HVPZ&7-90;-\!OZ&Z<06V,SB'&H>R!#PIK
M6@<5L@6`3)+.7SD\:DS]O#<P+;Z9U%IX/C6MR4AN":!>`\=*K^L"4&=PA<^:
MW>09"D&9V=*&8DP;I8IM.9.1G=%%!?\:=E.XX$`F=]Q:5Y^2[.;YT!IDMZ4W
MI<E/1EJ"K!3"`TL(L590K8!?1X+%T0#\Y0-EI4*-:HW5SH"RG\**%W1[2:SE
MA@YDSADQ@R+OF5$5X!41]`)+JUGT,FT2H`K@2G>31*<M!1`6QYYD,,%!B>M`
M=%2K9V>N1'5#*6O]R&:5J&K-+)U3I##H-1NKDQP5:Z8+S??*6^_Q.LK*^;,,
MOH:,Z._(B%IU+"6QFWWN1UFMZ<73TE-9\ZAWY@\T['[GAMV[=)X:0I/3:EMU
M7@U?ILV'6UF)>ER2%9V9-JTZLT-N_6NN^]*GM/N2\3$0ZF2+3Z*DDO]PMZV9
M]@P7RNZ.A(`&>B$<BY=523O<7[D6.2["&NAWJ[?03V,FF=-PO[,M@'+XSOI;
M`!C6.(NBI_;<CJ)"UM9J&M3!)Q/4A$H4X&3S#"HSAO&X)F2KA[$9A4>8$Z%I
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MN:`ZKW(\J5702S`4S[@Z<]B[DM=.26+],J+<5RGMI7K)/LTC;E]YXT4S&#G>
ME/,7E`#K]-5U/.0.J_K<"(=TSDC9(*5Q/5-)E19E8#>(0U77X9.`5Q528?.`
M]@`&&>,#J>$G),5[,:[5R!F$=!61**-@YM*K^3SB'P`O?HLNF[+P31"&-)N3
M\R&"8'5Z?6$)>RDLN`?\"7?(N)`'$(.;_^6D#"]\FX12W\'KN.8VDH0.@^3V
M#F,!7.-P\`6DAPK1K`QBYNQ(#KLM3``O3$OGE<DTI7G!PEN&3$VH6Y\]1,,G
M&KK+#_;&]K^'R3*>R1'WGK=YYW2KY83Q=%AXB=I5/LN9E-(@(HUX3>VS'@;>
MN$NG1.-'/)HT(Y<O6TOUEQ._<\I_=<V_J/6G!">&@A<U?WQ%QGQRLI![A'(F
MP,J30HZNXP?\\K&;>$L;#B)VU.C3@Q)V$$IP(=XLL]<;RVX#Q6W1J'.S3%H3
M"+4D-AP2AXIS!6Y]BE')FVXEH"P(8^&"0HX](X[#V0T>`G-2UQ^\,0BEH:FR
MCNR%QIL[>PF[-`#:]X!?X*ED>X0,EF%`Q-])-8Q)L^-4X#'.X0EYP@V8<63C
M@=Q:8(LN;9>?BQTIQ-DQKD'92F9W!1.'72EXD>IKRD?7\S/-:P[?,T10=XJ>
M\IXA5;21?$,#HUHS@_6M"B1YK6]7(.9X1R?I57":"=D5TI*K[T=)8#Y@[C&F
MTQ\_$^&PJZ89-];*9/)"`)5J'O9.NKG.Z6(I-'5G#?O!0V@O?WW&__WL6(=7
M#*AJ"JM!88,C$1CV06HY';42BB,CZF/6G:KEY]3PK=]VJ"GDQRJ\JI*NO&PE
M;ZE[HEL`>"U\LU_)-]M4QO+J&(!:LP@.F$7;S$5^CX[C?Z$)W/)[W$HH-`EK
M$CZZ*#H4WL[MO66IF<>G[".N7B#;<U]'TT7;\;4#PRI+R_U_WM%_-JG5P@?4
M&_Q4DEA=APWO7\R2IG#O"<G.="O/HK\O!#2-UI@E84CAP5JV=<7#.*I>L0I3
M4XI7W2J%K.1@.PQ['%%O4'D0WQJ5YG3$W#J`FKY=UZN-NO7E.J/+->Q6;MIS
M>EIN2!(K!3+5C,?^"5S:3VC-4]SPTBO5Z_2RKEB'NMC;5SZIK#PJ3;0!AG:M
MJ>]"8W=A?]%V6)HHD68EK>MTND'+`C;M2C=HFL1;H+)I"FMSNL%3#G3I]`*=
M7J#3"PX3FWW"@=BGS%(U?9Z"/C,@=<9`:R.XY_9>E9#/#O8SC_:?,TYUY%Y'
M[D\5N=>1Q,8BB;(`S=KCB$X?`#Y]D//L`_;Z3C5VIZSA^=!M0\)6!^>?V)H7
M&GW<61R>.BBL8_+Z"C1S!?:67FV(OY]3:X)3-\\I=)T@N*IUGEAI(?/"HZE7
M+ZD'3+'[8J'YW<:^%`0$[TVA6U/H7!&]ZJ%6K3SGJYDPQA<Y'N_OV+_H!0[)
MJSQWXKSC&$^*JI[2JD>^0;)1\G]3=[7\M#RUP]K3NE5->92:'Z!W5H'X@P_1
MNZB8_!GTC7JB:+G`_-I:7M=#H5*_=Y6D#[;&F2<WG/<9-71#JR<A],<Z"2$]
MBP82,O:<A]F6HW@"X=)^?[*GN&X3LDX.P(53RPMKU&\)N52??]FT?O?40FU/
M9<T+#2GNS^$U`9PU`33`M/?`1BT^K8NYV^]0>DJK'CF\\*<?JB&Z%!H=JKM0
M^GI*J^I070MNE0[5Z5"=#M5IM`BT7&"H3D?DCO_>\XXVZ3-J9T3N!*&W(\;8
MCA],.UX<Y!A1CMW=8;U!;T^Q5WNCE6UWC;,U+LS&JCK/-[Y42[GZ4)AAOAMC
M/$.U^T/97.0F`&A-F]D=[-6#`7#4:L^G;!L^`8*@\>8MIX7CZ<%/)>CZ5-:\
MU.#R_MKT08++&O&'KE0W>]8),;]OL?K??DZBJUO;7O[R-JV2SH(9T;7O_(/7
M1U_/X$_4\^>M&\V\($I"]@T.[;47S+[_]I__@;O\6_:NF[CD,=*_X9<O;/[K
ML_=AL.AUK=Y5UX+_Q0'_>7K5[S[[#6$\:?7TQP#0`0KT@HX,""@,'N`0>&5X
ME"Q@)0I/VY'!"\2C)U0AKB:<%!-2")1?GPD/?.$&@M3W[&4$,,B?T@2421?L
MXJJG\"Q'S*?UA&]6AH\<)ED-@JRDP;[FFFKM2!];QB)6W#4)@IO0^!G_@O>V
M#:?S1!"AQNQS>$BAVAAF/"Y"FK`1PMN;%[W^Q!3_?UG!:3X8%9QL'IM7WME_
MN3X+;Q^-@$>S_5O#@T_0]3P+F>.N]Z&40=([HN=R]RVO5ZA*5^KOX\*TQJ8U
M7)^)V_36ZC*.%&^O#$%_I"X>$XOJND?%Z?J%ZPT2ZYJ#?D61T/BVC\>7_MKF
MM]YU"U^9[P:AD?@1FX'VC%9#O*'39L/Z3+-[J7O]=F<K7;.[86C743?SY)$A
M7=J[+-3.RUY'"=EU-W_`-3>6]B/967%@A,RC'F5+.XP?-<5M7&@\U'=?8^)<
M)/QGSX:_?WH`0R/*6AD:Z&\R'':SQ<1X\B0V[)FCR?H(F;[O1T6&9?;&TS8@
MX]1ROJ20N[H_90U+V,\)<50O6'FPI>#E.IXA7P>.>G7$$W/3>.!M"#C>"6CL
M'P#[/<N<CBNZKTZ`_8.J/5IT-NRSL*9F=[H^HU,K,L?$QG1@#OI:D=E7D?G(
MHLB([H(PIOBYL82?-A4":I%U:)'U8M@UK6Y%-M.HS-J8.ZZQ?EBL5W;$'`_E
M1W'*%+?3JY/ZFN;]5/##-+)@LP1,2Y?FM!T@=%@3@EK4.YJ8T^F.]-M;K5(X
MIIFET;\_^J=]<S2IJ(N=!/W;&C:U(\$/'G%+]N2FN\CMKG7YB2GX\$."/XC4
M'`+O4^H9^R@\8V\RSUB2;HI>8&0!2>.#;_QN/V*25,]41PH9`"C#[BB&7"7U
MPD5KW7`=`T<7A<QG#[9'8,&?2K[/GS;F]@SG9CX:;D3#B6S?L&]O0W:+M6E\
MTA&^.UEB^._Y@$+:]'_#]6=>@F2.WPF6J%';GF'/9G`)X6=CSNPX"1F^E<#@
MK\#WP^403S^WTA=RN)<AYAFLP$9+86ZK7[(`@/=\F']-\07LQ](-&9^>!-_,
M):S!L0\[1EJ;9M-$T<@`^<YXFYKBRVQXB-?NL7\GL`G8U0OW94;0^)WX+F3L
M:@$4=&>``'=@45KAQO:_<UJ9SQDF4GS!][R0B!F_^OCA]:<O\M?)JY>FL?02
MS.1U7\*JT9+-W+F+)[%<>J"=8%R6DS=`Y-/0J!L6/S#F(]/I_F3@P*H^_E1Z
M,`I!$%0$L/<(FT\BFJH*E#5G#(FC2Z\3,Z\$8=P\8JGD[(X^6]@_W$6RD$MD
MYZ=@8<:8$_$W@'IEWS+#L5U8#]#NS]RE(-@;V[/]&>M(LL7E;2_"\/._$Q=/
M#8Y\"3=F!K<7+GSXB$!&M%=16ACA@.5@YE*T^L&-[\HQ"5]PHRC!U:A=C,?B
M&+W=XMK(&_4A(UI3!0H(9AGXD8M8H,MC/.\C$1KR'",6WKN8B(P`=HS/]B/O
M3!/?`1$M8`<W>&X.PY.4[X6]?;81RS,"XQT\ZP<>IG6'S%W<)&%$[6UH06!V
M<(CT*^XEH!'3?%'8T#(,[EV\-O!V\4I#O@Y6D0MB_KCG+MR8'^SS";])!C`8
M@F#N1J`&&T#K(1P.7$;!J9Y/LP>-TH?Z\)`E;^;ZQP8$/#QIK7V2`.%/PV6]
M)F3E\W\Y3')/=[8CB=B^!Q+CTX$?%:H,V7W@W2-JBE2!_&1@]@0_.0.A5"]I
M_J2PJC>)(.+<A$NY(K\7G`(8/LW;"X%KN_?$\@!%GZ\_XYU0A`DE\`.MV-Z6
MFX9?/=HM(SCS-PQW1:(]YN`)&O>X%K&4H#\$B><@CTF\&&\*O@DG"X8D=#UT
M:N$R*$3YM8%3\1D^.@L6S*#:#R9?KNFX45AE"SO.I0@FR=.`EA$__TQ`=DK&
MQ$63#9*RP`"1E)@]AQ\SWH7/2JI!FF98YL1`FJCB[Q84/-)!4FV-@&!VZ%-1
MT`T#RD4BX&H-Z)7V#SP)ARV!AESJA&:(:99A[/Z?S84;;.O=ZP_?WEZ;G`T.
M.67-Q78EV/3%5$WDWX`O$`@*'\>OT:[CAP`+K3![%/<BWQ.14A*Q=*0F;CG;
MY5T8)+=W*]I:GP0RR@U3<'+Q!0X'`2%?"'<!SC>BY+7G0T6\J#L!B/O5(7Z?
MA(@UDTM\STN%/;S6#9PH120'1"!S`?25Q^;"!N3@M#\;B.('@#^[`_)$E`O5
MB!K7&2^`7&:))T>#V@`9\^ZE;AG"&Y':!`H<-V5%>#)1LI"JC+O2>V%F+]T8
M2)$^`"8*JC3`GFIB1LJ'Z-OH>V*.#TS'S/UFS,-@D;[+P[/FBAC1&[S$Y;T=
MG21$.*.$SK9D!_ST7N)JP!+Q13&HL%U.:B%:!L&=>T,LE)8$,),PY.;'HRH&
M<M"](&8M)`WP2J%`S_AYS(2=I7[EI4$<_[M\<]DQ(6]%93:BPTGYKWT3<9X.
MW!XE6JC:6V39$"!$5G[<*5[XG'5W`VQ)-"[<8(E@Y9_(R`:4(R&%47Q%2^'?
MZ6]<H`KL([EYJ5D([W1#U)09715X\3UL7NCX?`O<;)`&Z0WS7(8S:P$*E[Z"
M1^BYJ$"G:G;$:=BW@7@JB)W"/T[-V<])"JVZ(WBB/D'W9YJL_T>:K+_9"?'/
MQ)->"#NB'-\-,X[M&7#=B"X=W=F<7=_O@ZE(B4-W[C*E/JG$X\E\?F?\(_"<
M69#W>*`U!A!'Q7H#N/T+^%L`IAZ5'A@O\%N9V<RWF)G-AI,PXQHN@F>@%8)2
M0RI$>8&9\;O,V0$7&AC/P@7&%/B*:R#@+TA\Y&K&RC>YY\!1_`/PKF&G"V;S
MDB2-GRS(=G%`!TC@TCGI@6":M67ECR)DM`Q^1+M#^#_-X@`E(2)):W258!4?
M(HO'EW9=?_?;11EQW'U3S(K[A@$:K#$G;KZK)_"3N(2"9H4[<$TBGC2;.!=G
M/]P(5^0B)B<H7`9JRV?RK`GK@[Z*TMTLD2OP.*D^\#YX.]YMXWD_=;"M-YQ-
M?+"7/LB%;@BB`5:XOK)X+K$7V$+OA&='J=Z5/=?+GNL8?Z:BKP#QFB-9V0@!
M\0#7U\1;"C!SXRV^0R79S(XP$+Y6X<F*N=AT\!*C:XVAWL!YPV!D3C)[BTXO
M6-P`EIWU)Y-J@NG6A-Y$1@(<&6=0`(5J-8P*CJ<<\\)5P:#D1BGG/Q5\&_PX
M[$PO)KU!]9ZFVJW4:E/5(=4'D;4"J#,6DOK*]80(C6P3>1\"P-W!\H!49'&K
M'XQQA\U9&))/U\%-9J8Q/Q^.!,28GQG,^%0>.[!$X<S6.X=`SQ]TQREM(F4+
MEIUN$L]F/60*97Y3:9)[)X4C(%K9<^:`E&ZH.)"FON&`G*25\)=@SD_,#_PK
MOF%NZO,3M@5]!DD<Q3;_6^G%`320*8>2""1)#"Q3>-9C(6]!/P2^*2S7\A--
MR1*AAR5!B,$78G+Y>LSXSMB2`%!QPU$'1+'T[!G3$JH>K&V0B6V`8;OO)74=
M^BA>B55%!B?!LHN_<B$S]L>%I])-)>6B\/&Z&!LP3>'J&)G#7N_$?N(]-)PV
M4?\66`MLG8#:@.%]`P!C[?X_`*R?4A.&X.E-U^)/:F8H\U`RD_\KK^F6J*WD
M9B593C(]`"W3AUUMUH>VA[W5*/57QJ2]=F5\36XB]N\$58!W]ZR:O^/4.#@G
M>E%\3P30G<UO-N(9&W>Y/H;J`45W]KU00R+TUJ)RG/CN3'C02/^Z"SS2HH12
M^KP_-:5#&!06=`"29KNBDB/UA<D,'7^IV$E)D"L\I"CFO9#\#QFW03)4Z*A(
MB'DW&ZF3N?VQ'TN/_/DQ-VFD5S*TW8@\E1X0O4^MTJ(U+CL*-<&2#Z[G831,
MUG1'R0P]F?/$HQ!#NEE%%X<+@@LQ98,J%*1KWH!E9:9:)GTY?Y0Y+;-C_"-X
M`+#"O,]C9OM^$$M-FI]I%"4A#]`7=L"M*K$+!S82$"`/=\((074XXKXI=6-D
M4X1&\011D8[L&=DM"TP,@Q7``,OYO]#GF?AR252K1<RN>&QEQ/4B#FX969]$
MC@5ZH4?RY%(@D9<EY"D10T!$R7SNSEQD1G)S1+YH6.`[<8G\<4M2(!#G-L89
MR=J"`W2D*P-]O&$015>Y)UC.$!9;Y!$H:0L4K5F3@B6`#DH9`4`"@!!/_ODT
MB[]0L@L=C0C@<,V,.9O/AEN5*64#07L4'>.<PETLX&GX%0@<SU!86SR2[.>/
ME.Q'6T1=\Z=%KT+[UPW1&<`/1_P2@2!P88T0I)`IW'HR/4IU\Z^8PQP'GOL=
M@<,8`[P!G>D+C&2[Z%QTX);`U6/S.2Q4SZ%^R?;#)8J[58\C:AH$V^>L"<<7
MT83C<]J$8[-'\7<[G-V)X&EWFJ-IU:'_YLYE<^/=#QGQ_(3<!*Y<FM\PARM(
MQKVJ+"G15NXZ3R4<JE4\2NT9#T%(`37)EY9)N`PB1K%$C*3=V?XMD_F':[W^
M,CH@HIMB#QT"H9Z3/LH[Z2=%)[TJ0'G*A>HDDJP(I`&!)0+?]A+@_>$N.*-Y
M;@UY4!`#S+U\&)VR`[>9K?1-;)QG2O\CQ8T[!O=PT9+%T+@E(^(87":](,/,
M6,3RR<6UR@4W^]A4&K)ZG92L"(JQJL7GOXJ+S;E+T5`E0^Y]_75,3>T$6]J]
M=8\FKY;2Y-6ZLGI7?:MU35Y)"`.5*=U=11"+=W@EO840^'0ZO>I1PZU8=:>1
MH;3R`T/M&@_2VVM&GN1]*60'FAA:`O9I:VMKT]YA=]!60'8:V=@HA1YJN*;&
MY\GP^42F<LIO"/DXKMXS>.=6Q1L!T-/6JC6RK4:$+3[4"T>?U3<'XT$+T;<#
MWZ@Y/*DBK#S5;4W+47=#S^&=5FO/"%KQKH/TN-Q,5N=V5*U%@67V6H"$AF[R
MVA&85>^QFN-;H8WH$Z>=+2TK]0U^2EAHCS#.7>(]5?HG1TU;^C+J.WT<J3QI
M!18.+98;<3"\"7P"!55O*K.AA.ZY[8;&O>TEK";.]!Q>/9A9$\1!":(_,:WN
MKMRMQ4[)P^@SK9%JK9666SK.:IWE.#I+KV]V-S2;TTI+L;LO]@+`Q,=MK7VU
M7#J.7-K8ZO4(4FG?Z>.:`O:F@-.K)@=O_+M!(UFW@1ISU"LV_FU\W6:I*3?4
M_E#!N>TK'Z[SZVZ$?`Q\:!IHC`8F`W,Z:3J9IUE\E/"T8@M@[[R2/EN6BZ^V
M]:K7UB/K2HFU)<5D^$)M<2'!?K4:L:\TX<52(IY\OK$'[TJ#GFT-<]T(Q!T6
MS\)+2IH',SA2\A*6-&<4X&"J,I9$8O*^Q^Z9!TB*DIO_Q6H9I7O$+/`Q"2OD
M#>E"AFT590E;"5`E;Q#M&.&"8X?%2&E,S"&A^CD%%NR/P!_=V/6W@)4S:?K;
M3YO^#K*FORM?X]52<#+B\7BEQYZUK5VPT4"K8`)CKW;!1A.M@@69[-XN6&V^
MO6NK8`)BQW;!N2*UW1N8$@CYVIJ*;8++V_KR"I;GD^&V+L&=7,=$.JP,>0O&
M8N4*B$:'^&;1-3'?+G'N^H`>E]K!BAYTZQOH49\S46EN"O02#/LT&S0:;#3(
M#V3'9H-&VFAPSQ9^"$19!_J#]BBDMI-QE'4G)##6=B@LL&NJ0L)+NMKLO9\_
M#Y3)MT"/L%6&+):OO'F[!,HZ42$[$)749JG=J5$>\\84P!'2_B,D=3><)E)`
M;V0.1X.TC1$O/L\U!1)<D3]-&:.ZE\61BC4Y;:RIUG2WMV&L4Z]IN^'"3KML
MO0[LT$F+E`O5G%+]J%#1J=8,]O:LYL0NNFDYI^2L^4:.Y36=59LN1A4+.J_A
M6N>'#-"UD1T;?4<NX!;678&7=T\#_F][)>7DKD0?U@I0F63:LI'W.ND2/@D"
MR8%H7>0[*]W(2'[*NDWLJI7N/N40D8C4TUI_`,]6:T@+'25I(=D%68J6C>^L
M5@>;?H'LC'P5['2<5<%:@ZE:!DL0/#([E#6P*QQ3EL!VBR6P:SGL+M6O!,?.
M%;#&P:I?V\3KSILOLP?.E=-4ML:Z=2+.WU%G!BR9?PM(-_,W8!6:PED6WO^\
MAR'8\21_1=F2Q6[:LAV8+7;C$Y](Y2JGBI9T7B1J5!J5R)8:MMBM<0T"@!L)
M:@LE>3NP2T8&NFB7T15=-5?;6MAIZP[Z#:"^MT'E`ZM6=#-4FWOB5S?V]<PU
M-]WM.`I\23GFU8.)`]D`=>6;!,'SH>*"X2U+BJR;]T+HC:=R6)+P#B"_4]N`
M\E:HV-)$^?O&UF3)DF`@3U#6E15^16F^(IN%*95V<L^E='(&G^_+NGYM\:J<
MQ;K:'93D\!Q>1Q<J[S%9<9*@W\,031$^A]BF\HM@M]G@`AO=37#!,B5!$A9O
MM$+GCQV;?P*Y4.+)$$)!\N,\'0#W[0WABU^8VNY>T3)@OZDC+-/7Y]B_869'
MW/<&NWV0-RZ%#6Y7['JI0#"-ASO&#9L2'096`:%4%QU+=)>)AL3`PH"KDL'/
M+6"R*IUTB`0?C$(M!,@*@^?G=*AF'8.,7#%DD*GSOZ1S3?;;I77A"^1AAR?A
M9GI,],O)OS)&]]5-]L?T5[%&.<'RDPC"58(V',ZOL(D4M01#I05=(04WR08-
M(O\^8:FIQA5W^BBV9CF+F`P&_.IO[D)89N"!,F$)UK3-N*,48VW<'4&)4')C
M"<1*3?45_7^DJ/^93HW-NYP\(Q=33_`QZ6PD,HAL/OA(?5C5W_G52S5>*0=G
MQ9Q>U?'\@1LRQDK[?%SPP0Y#\I^5?(%D_U_B`?6+Z&Y-0+NU(QD(4"Q+`*MG
M3@<6DK<1W=DA2S65$@,7F_BA0(^#V7?2M_]I^PEZ<,=EQHVP(YL\';F>FA:]
M<E(K)B_`E#O6M6=)Y>0(UI9S-!HZPTV@$APYI`IAE'7%BW@7G<62^S.$+$Y?
M:$OM$11-X/'Y-IS8=KJL__K,`Z5PC@Y]=H_*H6">]N+&O4U(681W)^C=%7UO
M5D^VE"+-M(5@OMT=]MW+G+?4%UNZF%T*8MV"SL=C45SO55R<U+XMP.^K[YA[
MH)NF7;W7#LO(GB!7<EX[C9(;&NIE*_/!!.T)1T&!_O)3)-"E&SR8ZM=6298C
MA;+XG7Q2/]?.[8AF\YC"G%\$#GJO%7<G?3]D<Z&*R3Y$Z6O@4)#'<@J0U,6'
M^FC9U'037=E845[;-;RPUS=+O4<5^*`I<2U[O(OOQ*C%*NI(P16^GOY4OHK0
MUV:J:U]-G(K;1(?E5C08@#K4+8&O<LT7SL'SR&@6!@3'"7*)P%<;IG*S25[O
MO)](#!H0AF!NI"'N-4*[%K`W2P<KT)2":!:Z-^3%Y1XF8@/(&@B"C#WD_FYF
MG5E7<63OS"+$Y+:,.W!\;.<09.^N<?]IOM$TW[A.;A,QAZDOE:CL\J8-<TNO
MB8R*%_HHEY-2*3\JL9*L,>@Q:SE452:D[&$=..6\3AJ+>?Y4GS65+EI3@^)\
M8Q>^A*R#MY0LLINHE-^8VYB-<+-58CC"2^$D,R8")O@UN/4>;X8,^BE2#(^C
M/[<Z`_)5/>]V1MWU:DRIL=4D>ZJBO&2LB6#0[.FXO=[162?T;Y$)8G]GN7&E
MF=.1F).<TB1(ODS=H=&>Z=BF%97G!O1_W^=#AP@&-<)CR0;.OHP-DN,,+SCQ
M((?F]_`E9C9ZN8%\A-!7IKQB*L<R3HF,/P#?XZS95.U_`F%31(I/ZS->J'-%
M^052+?9,1<'XA,K,-`4W+6`)^\J1<\Y!/#=GB?*L1$Q,0^,^I<^49LGM3;3F
M,!3+-%],\1JNN"W2$00K(>V\G_[%>NJX)C!4\LC%?V<TCII<\1)V;I$7WT`Y
M179TAX[]S$&13BY0/!*YC%!\603W.IJ++OSH8<VR1+F8T@,V&I['GO<<$<,1
M0C+EN.CZ#]-QH)Q>5W@P(CV';"./:#<68;8LL\]A'G"L=%J$T"NYWV4-BU:5
M0-3H:KF_<F$H42A8S%)E-(HXNS4UERC,7\89[2Q-5Z/KG`VO*9IV>&,GPRQO
MEJ<UJL=Q'WC)@AF\G26%%'CF(WT_A7%H@!K%\H()<QY"J43WNKG)UJK\XOX:
M.<*<BSEI6:</J>,4<O,^E#SCHM0Y@VN+*4(B(,<-Z(1MY+BDG\M)+>G?E)%[
M%/5]`++&<7MDWL`56C,B41I5I.=SFE,QOXWN*.B:)<D6:>L,3O^<F&914U4X
MIJB'2-6[5;))(GD/5?,C&]^#A$*53#2;Q\74W/DCSX3E[Y:1W9`1#Q,NN'4<
M$VPL7@WBWTK=,$T5)YN'CY67BJO,S*9WV6'XB*MQ&-?SY$`Z>V`_RJ9@H]PF
M=$.9,9=%M/+#C$4E"Q\/K]IB.9MMC;T6^"LF?3J])HV[")./!HFE<7[1T4JK
M%8>^(4KN(/`M'L8<F\/A-`URBV(,'O^VS'%_E*8*5C#3-V80IK&M?!:A26_@
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MS`$0?-HV;9LT`:%>#`:5!TR4Q`"4)-C_GV74F824AT*/#I&=/G&@\)Z$V.(S
MO7#L669OU-?8.U/L#<SQ.6)O_T;3YT`Z>]Y+:[!OC\*+GL>T6;0/?^[]7$.V
M'XHD#DUJ)Q':YW98[47"9%?>?6Y'U5X4F)/6(6'O35T.>BRS/QV='#T-R;Q]
M)Y=MEGBCGRTM\3;>]'X+AN`]<218X]/?YB>.`M#\>FU#@I9XBL0;[FS1MT[B
M[6_E_8-"^*+LAD?X50=NKXX#]\G1TE2;>*=&P>#TLW*>.`:FK4.!EG;9]>A=
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M;FL5<7(`]BA4G9B#O<O_3X,530M-TT)_NJL+4E/"95'"Q!Q?$BV<HF'!)9-'
M;V).1FVGCX;4I+5N@G7[Z)^`RH^Q9BD]]3H])"@G2&X\5A6$NKU6MJ^\C]"C
MN9X-T[*F@?.B`;,WV34BHTG@,DA@HFG@!#1P0!#V((91WYSL7`QQ',24:#<_
M4UOH[*/L'_#'.U!]8(U?GUG/`.#HSG880DP_/#/HD'Y]YK%YO-)^JOO3*T/H
M0G3*SXR?"VMX^W?/KNQ],][@!"@YH&WU>`[0V7L'K&W`7^M:CWO%B?1?BM.J
MO^#=B8QK.4.2]I&4$*JK?(9.O@\T0<-G?)9!.NE33IQ?';S]`EO#KPR\?"DG
MY*V?*IZ?0)*;;FGGQF]S1A!E$TC%]&X<1B6G#MRS*`Y"FJ0V=W'V3OX-Z:P/
M`@,^>!^$"^/KE97M\"N.!`50Q9R&=W*P)W:!=2-TAG;XX>`8%II;DGY5[.'_
MDPXI),]I-C"H9#,$1[HA&O%F+_C@"M%/WYX'O&<^?(DY97-8\P>(VW;6[MM0
M]PR'Q)]B(<&!LQE"1B@6BV<'VC>GHXDYZ/65\5>Y(12T3>]13K)9'7UZ!O?I
MK.]^VDL<X7LG9Z?XQNL@#&G20Z1<_O3*&[D[+R8"LNS;>+MNTC<HHUGMF^">
MT0"WY];`G%C]=&[+\Y'9&UGIK!8Y6&3K4!9C=2"+)II&8?T8@%*#LR,)')J(
MA,-=7#\W!=6'!8SX(1!C=-P(N1*?%Q+I^1PMFL]1STU8K^GY?Q/NWZW<UCU-
MG!*?;CVXZEL=.S60WQU`,3*U60.D!0[6380HJ'LT_FF?D\/!Q37)2RS<.UIK
MX>HK[=B5NE<\PUK6[WCG5@R'/-&&J:UQG@*$5SEKM3U\[0D$JZ9]<]2X9Z_E
MO+3$]_3*D!^BE^<78[H?J=4:4+,)JK90^_F[L*<#<]`_8Z_EWWY.HJM;VU[^
M\A:,BK=@)'I!E(3L&QS(:R^8??_M/_\#-_`W^1AY4_@8S6O?>1/0#%OFSUP6
ME7P;75%XME_8_-=G[\-@@:K"5=>"_\4!_WEZU>\^^RUG;2@V!)\(1/O=K*FG
M![;9-E!M@:*MD+,-MBXH39VK.%@*4,4'$HWTV0[V`[RPYK;+";_6*_)T5-WA
MO6HE5CXY."'^7[B+KB\NH0N&"[[EBG]:!MQV0[4.")MMU+RGYG,2SN[L2/@4
MX\P=OMXW0R!>Q[#L,A:V6)<\)[V\]^_.=HRY^X,Y5WR"_%(NA3<HM&=QQ-V5
M.#PZ2G`X.^/>TO1!].980^[-P1'0\9WM!UXZ-!</-GM]]E;U%19`A5^_M3T/
M/:#9:V@:;0$:=#"A8SEV(YI4+F:&!DDLG*8+VR47*KP&-]PY(1Y5-KHQWV0O
MI]"AZ.ZK[<$[JQ.=<<V=B56(+N>WCVBA$I);V/^+`Y8!RF`A""\"]@D\-(P!
MRSB]&"0!.=\SHN$^<M\Q_GK[=R(@XS[PD@4-,7:`XXE1X-Q?O88ZB7.GM!9X
MCF''0+`WGCOS'J_$UP3<].7(<!AZRER?7/$$@YC-+/Z.7K/YG,W(IRX'W$K7
MI0$+^Y'-HR>.30&2$L_9T6CAXJY,+5DL=#=8T[.7$>@]\J><8-U!6E91]AL1
MPJNJ=LW7E@KFBK9M;?VIRF(E;KFR31;4[M?<NLQ/>JP*UWL2C)^)-[R1O.%D
MY[&#W5B6Y!C>WKSH80H,___+1LA-W(I)W4OQ3G#LJMZN?MU+5X.,U\P\0Q.Z
MWJ+/JZ\U+'/>U5MMW#WBU@Y*F7\A;V^$'/>^@:`YM(7OE;L3=N5KJP30#D@R
M[\>P9^UX]"TF[8,PW>(A]!2?LK1GK7YG7)<L,W]?+1STLE'/1[L`M&;J3MOO
M#E1@VX>"0:'^Z0[4WUL-)AR0_IMUQ52Q1\LRSXYMEIS`#*^Q;6W=:.NFKG7S
M0?@^"O8-0703\LS?%_\BS\E+;?1L,7I6>6\^!#?H].L>B+"-C!?"+5H!">=D
M)>VR:`/FTG1LCKN3D^^S=2;3`0@8C"CC15R-<@]%.<>CT3WI<C@\S69.J>"=
MR,G<EK#>1S<62?]J#.7OS&>AL+^28E0O4P01UF]*3,7%^-S-_V)X(0Z,>SMT
M@R0R9I[M+GAAPDR-F<OX!Z@3KF^'C_#7)(RH4@/#+C=)Y/HL@OVY_LQ+')ZD
M'T087?,H?@)K>"GX)D$COZ2&,N`-;+'T@D?&KN17%W8,N@S\!:$*`(HPZ@`C
M8WXN1H19Q`]V2"#9?!\`K;$,8BQML#W^$0`8&W84,?P?08'O\-SOS'/O@L"A
M;\/;O`#@@J^S'TO*%.@8'W"GN,HR#&Y(>P9Q"^_BCU+D)V11XL5I08K-&[^)
MI&=Z;&;[&!\*F1T%/KR$AWT8('V!6\U'O<0[9W#FN(QKW[APA(\RYYW>2'"E
MKP?H_"#.(!0/E@."3U:&Q>$Y$T`(^"D_75>\+W]XRHE+F+(EX(]11"4;A4-R
M_?O`NV<\!`RTY3D(&P(2PIL0W2Z=.`,$BT/T`T1D$F*)3*%$Q0D8/PFL,T`"
M)TS!'P2Y+IE/).HQ4)7PN&:,.51^@&=.,-S9]UC<(R$PYD#V<!/@)Q?62&-R
M<DEQY0:C5T`V2X95,?!^3A"B,J4E[*H<@-U364I6RY)UZF7A-)_#8RDY/-:5
MU;OJ6X4<GI-4#*QP=C5DGDK50MQ<8?G(QWF]!%(9<C[#8=$L=)<D'(#*(X#+
MG8-."(#,LI=C4'JE-.;R:BS:@=U/D@\07!^!";)<F[,,M>^3&"C96+B^NT@6
MP)8PR476L0(7^7?BAKQ@SP_\JQER/(\S^)35>/SU6<Y`&:8-D(\\V4'7VYQC
MO4UZ1,TB8(?"G70#^!\JXMF$#/G@J4&7%R('5&G-T3*S=5J>I:^KCW3UT5.I
M/K+,P7C7#OPMJS_:J9W842J0#D5JAR;A/:C*FHYVI*HG1D-5+]^3HZ%Q__1M
MN<^"@JH>T].CH,'I9WR=!0559=5/CX*ZE5NFGST%-6YX?4/7LCW'3D7UT-4"
M$["N]^!4`.S5A7/2:WLK^E/1_IZETKI:&Q]I5;7VQ!R-=QUSM@%%AZ7U[5D`
MK?83GQ16NH-&*/L&RO9H3A+*=G?5FIOQ=FD]L]_M9MW2+',XG>"ONO79,<(^
M5`1+,!4+84O*7U=Q>:#*5P*HM/K5Q+)7HI3H,4R6LH)Z=2%>VTI]*5F<KZ.F
MLNE*E;,$1^/5LT:-REF>]5&I>K;=!'>Y<;#VZ-0M@.3(`9[U-:Q:\\X"056!
M5^M5JU.=COL4O#[FJ+MO\Z(6QWUVG;97;$5CR3XTVS>7$_GGQQ.?@,?#,D>C
MRO'B"^>[Z]T-DO;5+DS:Y7&&+H^!V1OOZKYND\M#J]E/1\U.@3EE3ENN*C.7
MV+9!>V]?:EZN<+0$UDN0?0<Q+0KEGA=A9.R]TGY99E;?'(YWS><X;WMC%_-!
MK=G<?EZ'(H%#D];NY"2JA^N3TK%UEW-R9[;#UR\;K3;I[M^WN^K8[/>F-+<4
M@<IW6"WTKZS_^JEI]2=;>J\J;\U7-6ULQ5K6>;7=1'!.L'JK%6=*-5W&%)JK
M.5.+AW75V?$PG!6)<\!6"L5+R\.-PY>&$SC5RL.-PY2&2X98L3R\K+IY_])P
M'GZL6!YN'*HTG!]%K?+P=;#L7!K.":)6>;C1=&FXP$:=\G"C^=+P=G.6R^*"
MK^T0>-37I<MNF5>NIWWP04)UAZ9X]I\=^3CP&;QB"Q!C-*3R+O"P;SP2J^/"
M=8P#:B)_/0.RB_`^O@G"9<=,1V92[H3MBBP?P3??N.$L`?[Q!MAF>@NM,:AA
M_P1.273U%@=MNC.\![087O/780`\#2>BP@5Y-(WW8-JYCFV\>(.JUQ]!Q^@.
MN]9D*'NI2S(<O_J*LSKY<@3'-;%7^??)JY>PS5N`,HKE88G-?X:;YBZ-_[+#
MV#3^B_D^*'[&^Q`4.4`J`?8Z3$"M_--A'ES,W^$0D!_3K_3G[-F0R8.4!Q=)
M[IR='G[ELSU#G<)X)W7,W\,.0<!5$/$2T&EG";5%#^;P-"N@8>V+^,[45Q$4
M*3+%8>^U!"<=2HSQ8Y"E'K%,'/4*-''G(K.-:$0BT-P8)!]'"LHWS%KQV</J
M8U-:SG8P&0P'NCJ.BR@$2G'8')@73KTU/K_[8+R!:P3P^ZYM%J$SC;^`F;GV
MPOC8,?X9^'@?_V"N9_P.YQNP.T^<!:[TY1%P]A?H]TD(*D2&6?H:P<+_0GA-
M$8H'5'HDXF$5@<J9%K]"4!#6.51"]U11M.G;[>=99\1?.6<<F2E.)'6O<#BI
M%?[INZBH$<^),D;&F9U45[Z"`0CRV\_^#I@L86BCJY$U&4S,=.1KQM3>,X>4
M6_[B#2PM)CLF9+<!V3$@Z>]=)\E?G;++W'[DG!,AH;E!-)'RF#($1C@=&.C+
M,?P$N$3!"E%L!YO+XVQXM9K?EV4L<NXY1*T2<)\R[Q0&,F,>?,9YEQQ9^U]@
MBH2W(&*_L'?BIX\?WW`BR?%8G@&IB%>Q#2-")P>HF$O0)7^0#@U"X'FOU^D:
M"V3"0DMQ,1=Q8=^RB+^I[$C6O,L:9N\RE/>TGQ+.B6JOL3Z(#)[@GH6/G`U*
M^W@1")*5IBA8#NPJ)A-!L2%,-`_^@.^3-V1:Y@7$-RQ!Q4'C&HB;.*3@LS/J
M\J)F!'/B19-\[CK"NHI8''M\''LVRYX2@O%S&KDM+&=^B<@>%PNM4J^\&67D
M2(1*()2N><-F]H*)9%S2G92]]U(7Z`,:;\E2V$TU03`>F##M,[6*O)AP_/^+
M&C1;=PN:ZE/UWG;#?]E>PK)GH^9&RST[U'4XT%"SZC"(D73IKQ1643]()]2E
M,F,.1VW<XUF#3@RD$,[N'F5*.:@+,5S72*2;+Q.0Y$G$V3Y^A7=.C-GLSG?_
MG9#CBH@>B!5,_7OFJ7/(JXY/JG7B^_28K#T;4/`N2QWY=X@9@!6BVMW.&FJJ
M$LR5%$I[FML@Y!Y_,;X^+FX"3WWEI%_AE>N._R.BW[!4)\"GFXB%]W3H@I:4
M/R:^[>#W@;C^G03XKZSRP.:<CE<D1*3C<L8,QT:^1:%@2J\=\)@CQ^K$Q1]G
M%S]_)'MQ`TVG!Z?3WF8ZY<H'FBTKQ(G.=\X0)<5SWR>V3<W>(\TR(E9T=6<.
M9A&P`Z$6AL%-$'*>2N)6E.`X=FR_(D>WIFE-TY5INJ_2])]^L(G["CJ.1'0`
M:\%"%Z,#<U"O%%&_"!P4ZJ1=@N9)_7`78/KG(I7B]7@%$F79CO$>GE;4C06S
M4;'C+1DQ/'6;>TVR"K*Y&B)5-!.ITKH^NL`XP*2M@$[BX)$$2_5Q5^D#:7MH
MOM*ELRD*!(HJ7%&YB#Q0@COBAX)O(A4)GE\&(6G\2SBUP.E<T#T]C&ZFAD;I
M3!V*$CW886AGQ&`;OZ.BSS-![-`+C->N'RS0'/L(MA8PX*O7-N)7H4\6WP5.
MX`7H4D@5"N2^G)=*I@OF!'G%T+Q$GW5&=1CE6BRYW2E57>D;2]>)4H;.*QU]
MD@E(\&H;4(74=YHC>C1%^$#KKF1(7),3:'4T[2^EB1(G`G:724<B"_`+2^>_
MM-.(J3-V2!&XS>7'TXL?&+=*0>25UE5NF[%#"WP"T];%^,P'N+`,5Y$#<XRW
MZ`3=*CQ+0"D9H%-;S&_987ZNQP$7JG&4[WZP<.9&S.`)[TVM?,1-7N92%5#W
MKP!]C2C2SG&#E[E4!;1]<:/O.9;U'CUF'W@7X/3#+[ORL:=SUNU"ZS<6+G(8
M?/$85IV\U*[-7N92%5#XNVHFY+4*C%')1MUGMO&]EBHIXVONO#,(#(SY&!3T
M.8F656*H[Z+I5CW6NIC>>V;TFFJ;8X"@]ZKWJO>J]]J.O>[`Z*O,LZT0..@/
MUA;1?IK%`65P=*WN]MT6*F'K1R'*9JK2NRI,8!>O6%\0W.V(L1Q[0;+#K@YP
M'CN\:_W!C(>=T4_Z9$I)9M33)U-V,L-.#8;PE`YF,.ET+X9DFF"[@_ZA3J,A
MB?E7G2$&V;[2.E?,;#RPTE(!#^L8V&1P^1K9>-P95[ASY[[-;F?P%+8YZ/0V
MW*=+V>5PV)D^`60.)SM,KV^7E52^L7\FWJ.13OIK)>L?5M#0SIV^QJ/.Y`E<
MHXJ&R+EO<]`9CRY_E\-Q9_@$D-DW^\-F!?EI%?XSX/A5;*US)ZMQ_TDH3MV.
M]124?:O3TQS_4K8Y&4[:R._W5_:SW.!V\__A]/*);#SH6$_@+G4[_:>PS7ZG
M^P2LU.&DW?R_9D[4#L=0:07+'+53@JRU&,Z,#G6:AMZKWJO>ZS&$1Z]3&%2S
MBUY;]=TC<S`]VT"#)DJ]5[U7O5>]U[;NM408;.J6<,*ZZPNKU7]JZWKEO0G6
MS%30K0E:A+JMZ^J6"+HE@FZ)<)%+Z98(9[F4;HEPD4OIE@AGOY1NB="ZE@BZ
M#\+E^#/T7O5>]5[U7MNXUQT8O>Z#L/J*347M@PJATO,H4-[A7>L/9G1)I=N-
MGHS5Z5;)N7^")S/L3'4?A+*#&8P[@XLAF2;8;J]*H8-NA'"@W'CK253#5I1@
MY[[-;F?2?P+;''2F3Z$VJM=NFFU/;GP[,QQU;OSYW3F]5[U7O=?3"8^CYL9;
MYK3AADHEDJ/AX5'GF-]UZ'5Q.A4?>AW)F>O**"<^<XR`$2.LQ#<'HU=1.BE,
MS!C#0;JYF5#M'@35OLRYACS.DR'W5;RV/=N?,7,UT?,\O!Y6\1V*X5V-^YR/
MXR,%Z2\^%LY@(BDO:KW(?&%5Z8!<NOC+`QS[KGT9-J</7--X/3Z],0Y4%BF'
MX_%QB-L/HHFTC\V670-.SSH+*&7W%1H%E6R_59<SQSA_QP'ADFL>ND/'_C?1
M,B>#7:]B:\*F^DXV>B=?6&:O2K?,ZO?R$$R[VG7\9^*S=(YFZV_C<#@^U[N(
M'U%CND_S.5PA_[;UA]TW^Y-F0S''H.RL`]39''1KNZEH&7,R&3.MTFVI[8K?
M.CC)\Y6WIU>'.M???O;:O?&C^N9V-[IKOEH)#U?KDE%Z`/M2@'80'JUF^!,P
MN]!X"V^XMV/W'LN5HCA,B#42;,6Z80*0@S^$E=#16.)##.BU3O9:-WNM,0O\
MR(UB=$/.@L4B<'"<_3*(7#'+_EN9M[+L40(&1];?V#CF/O"-?R<TQGZ))8\1
M?I#_)OLAG:*VSX?=.RR"4[+Q2[9T?5J=2Z(&6H*.E!RX<%D-[B.-D@4\Y/X?
MO$4Y[06SHR1D'%,WCW![X4CX0<<E+/(8[N"S]?SN$^E6SZO)@N:#UOV(^[.C
MVK`"1VU!>H:'M8.2\70/:U=/Y!,[K&]!;'M'.*H3V'CK#LEALR"T42OXQ8!7
ML]!S?:G;NO`["ITKR_4SM*%:"GMV?6X11A&+HU]:;ZB?12:#WJO>Z_'W>BQ7
M@M`/!Y.?2F5`#:;S)C5,P"2*0WL61R^L"IT%TC!^,^7F2CQ])U=4]=C_M.82
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M]WH"EYD:%=I4`EC!]=6&*LWIVB+-'=W/S7F:]:F<S:E43"+6!]+(@33$]6KG
MTA\GZ'W!E1:]Z:Z&<.,^U0LZU7U<UOIP]>%>.#\X@8Y\P+"R8KG7/[K+"23M
M1#DZ/J>CGT^BU/#I'>QX4J$K;(L#R_D:L(,$C'<)#]NS69C`CUXF=41DF"`Y
M=G3X"`%@+FI7JPBCK(RP<A7A2N,R742H0\,Z-*Q#PSHTW*+#:G%H6!<1MC+J
MIO>J]WKN>VV(&^DBPC96[O0&NHA0UZYI1&A$/#E6=`(M6Q<1'M"U6XE^M,=<
M!WKTZ3Z5TST22RB1)!=71+AWR:!AJ^6")PD*T7\')<2M8R#M=[[J&(B.@>@8
MR,D/2\=`=`F==ICKO3[!O3;$DFH%0C;6S=4+:NSC--1%8OI43GXJ!YV%J0_D
M]`I8\U'?WM.NHAL>8U[1DSM57>BE#_<\#_<H_.!8:K(NG:NH1^S>@W$7<M%1
M*1WS.^7I5E2*]<'6#J::@^,<;(D`N;APZFZ@E`=8E9([`NFX#5EWW$FOM'R0
M`%DM(=3-9>NN7PY)^OX-+_G;STET=6O;RU_>VV[X+ZQ=?.M&,R_`ZL7H&\#R
MV@MFWW_[S__`N_^W2@^310Z_?&'S7Y^]#X,%ECA>=?%_<4`_6[VKOO7LMWW/
M#1[=,NL37YH+^/``_$2<B!RT26?'"S?O7!;:X>SN$6=H!B'0)<Z'1*IT_642
M1T82<1K&QRE,!`#,[GSWWPD1<!S`PR%CO.(SPJ&:O&)41(,0BI3O-4Q'>Y]'
M@4*VP9KE2:AY$<6\B=K[4=(FJF9)`/>IX&,?=9<_5A(Q#G9@5;QT_10B<31?
M'Q<W@=<$3)-^79B:/!B1OV%DVJ_QZ29BX3V1C+A*RA\3WZ:1Y$(H('#Y4;8D
M-6B2+I#[=TPMPDGE+K)))`29;X1C;16)LOX(JJD=YTGAK2#HJ[F]<+W'7TY*
MTGM3<&\S!7.5++ZSBY.77:'MI'`!_<H[`8_'-'LYR-Z'Q(Q"ALC8"#(U[Q'%
M29#<WH%4#</@1N0F``G%=^(J&*`HV:^0]#6U:VK?A]K[*K7_Z0>;.+:@<&"Y
MBR#!MJX2)AIZ#C=A#IJ?HB4M`@?UH0>X,$#Y/D,B7P3P,\X?=^>`?0!0+(.7
M(U&6[QCOX>EU[362"+MQ**])04E6MV`:-LX\GX7NDL`2P]7EPB`^^*]P(1<<
M<%+X0*US\(B"I?JX&QDA^W?BAC@]W0L`"KJ6-GP*.O`,[B^](H4'%I,'3?N(
M^"'A&TG;A.\M`[@)\*(EG&+@=/:\T>>D39X65GC$E3\D^,.;P">NA$>*(/X!
M[)T3")@P72/7S3A)]T7O4*_)=60X8",ED3`;^&M&]"*K:Q+NWP2+I>T_$M6$
M:"(+(UBN;_CIVB'S;*DD/0@0#!`GRMW`QX#"X13(?H9W+=`*D807D(T-3[M1
ME)!EC79V":&U#D5G1$[?\@@DH#@2'Y#]$:(<P;AL>')QX_JVY$>V\3L:T,8;
M._0"X[7K!PL7PQ1V##*27;VVD904QLKBN\`)O.#V,54CL+V0@Y3$@8@D$YHS
M.P:^"4Q0:-OT#:Y&2'T#3/D8E!A\-QP-APT>%)P-B1GY/;[;CNZ,.9BVG+>G
MBR_M1V3,<#PALQ>2PSKL)A8.*_A#@D]TC*\*[P?5)UD04\Z,;/QBME.@\QO0
MN#@'5JF7:+[85:E+8J1%]O=!?4C;27;O2H>5<H8J(.Y?Y[#&E7W#7=G+'^NB
MK"49R`7O6E=A_ELN]'5&G#65LCI@R\SL-:G3AU!HT_3Q?K&B93^(=S_J3[,X
M@&N<`CKBMUD?^V&/7;+/%%+)1NNHH/O<;\%>AL.?2OG8[CM[D\I`;IWO9NM9
M/QW+JER?NG>$M8N+*X'L[:L_-X8=T<FTPLI^\!#:RU^?\7\7Q4PQ$?*HI]`.
M7&N,568WJQE%_P^C_[PRZG.B1KG/OP*PV$BSKGC*AZ:\HU^JG8ESW.^,]R3-
M73?[DT96362-)IU!ZY!5DV<\8!;BR3G&%S?Z;LPQANRBE@?FN!&"D:LILB9%
M=CN]]E&D1M9:9$U;AZPS53F^L7!AO'AD=AB]U(18DQ"M3N]42D?MS6JL95CK
M]MN+M;-40W[/106DWU]39DW*[/<ZE7V76@LY,;)ZXQ8BZTRUD+>"8Y#Q@F'G
MI6>[/H\#:KJLR42Z+:1+C:PS0E8)$SENOM")H]];#HXG58@L"4K$O`GN63X]
MA\$;%S*G1LVX$1D.JQD[<6#<,.-Y?VP.Q@.SV^UB"H.(;\JX)N4N/.]/3*L[
MP4<(@I(A4=V.\4T!!FLL7!^S2`18-)&J(ES_3NPP9J'W:`!_=CV1$!2RV.4Y
M=01#@,E*]QP&:\`'5>DTH<;3A&06%T_I*LD.VC49J'*23RX-AY/?ME2<*$WV
MP?2;B,C*V9QOT^[[?[:5+SOFS5A4`BHR"^@\=LE[:#@KIAF@#I>,L1F^L@R-
M%N2\'`[H<SSHHV2YE#6X^'_>T7^J),",*F<??`4>_IV=2U;+F>2P-)D0<8&'
MJ]%X.%=P=7;RL*Y?3D5(6Y.5TEHK?K2[*_!,/"OM/?I^9]>K>P@_2</BOB*(
M[<P":2W-6)WQKF%;?5WW#)ITQM:97]=]Q6F+,BY:2R8@3P\L4%MS5JW%P:@S
M/3T.6B-B6YGAT%K:&79W3O#5$G:_HW\^&)SN[$NNJ^XT<-I(8UKY+P*,8W,P
M&&Z,+P[-L3613^2<H&EXL?U'=TYH5OL^$$2B]P,U?;`CZA$2)5XL42I0+[8X
M&+V*T*U[CZDS2\^>45@6DVC2L+#5YR%93CF1X@F6K\SUJ<#E6-PA4+[5(+7\
M2\H`*"V^M]I4>-\X9>GPGP[_%>%K-"HE[Y8^UD,$^]8?Z^%-$QWL:U64"&R:
M-D:)VG*X&HUM\'3H8-_!?9.]SJ[E0]JWL:=+<G*Z..OAQ7U%$'6PKV:PS]+7
M]51'W]VU3KLMUU4'^PY/)L,V!)HT#DZ/@]:(6!WLJQGLZVD)>Y*C'XQUK.]"
M@D!-Q/KR`1@1\+/,_G10#.?E(S+/>[W1IH"?KN5KOI:/?,L(38JOTQ3TM?^T
MS@FSQZB.;..^=5!4!T7;%+T[7E!45T7J0.F!S8-SB[`!\>W;U$0'2C4:V^W9
MU8%2'2AM[='K0.FM#I36[JH\.5DEK3[ZDW'*EHA3'2C=ON)05T6>'`>#SG1T
M<ART1L3J0&FM^PO$HR7L:8Y^]\[:AY"P.E!Z\D"I51(HG72G6P*EECF:#G6H
M])3#MC\(8X[@^V)3>'3))UY_?8"?:!L;IFQ_INGI@',DA'?S.9O%[CTSWL*;
M\D0T\^PH<N>NH*+/'DX>_O3@LS#*2B\+MB7"-)/@1`@./L#7XM$\C.MZ.%\[
M,ARV9#Y&N\2@;3DJ/ILB#Z]>N#X337<S.HYX@]]5PG;5PZ%FZ@0-A9:50=_I
MC.\>J`7\.AG_3BCT2*YPJMZ,W(7KV2$.6V98SQD:GLM%O<MP6X;-3XX'EU=`
MXEUJ"W#Q!N_\8-8"U:?3HS^GT*U,O@YN(A;>4QQ1'!M^"2]]B#'RQ,\>($#X
M0_IV-I[(0/>"P.%WP[BS'6..A+&T'Z_F[@_F7`%JKD+@EOCIO0T(XFA;I0F@
M*DEDC\8RB%P>(P?K<G;'*0*`A1N3N-$=)YFE'<K":`*"+5AXRW#:]SP,%D!`
M_O<P6<:S1Z#/P`C9W(,+O^E"SX'(_!G2T"R`V\FGB0-IO;FSES$*!,MX#_#Y
MMW"@6)D]`^D3/HK)!7-CT/V)X'C`PNWETG/Y78[O0&#0O>@8O]N^?<NKM!E"
M(Q@,?+/P.I$L8`,E^[Q6&_E2`)^%>!V02UU%2S;#C`-X>!Z$"[H?O'3[.J)O
M%UZ)Y>2EMX1?(V*!4>Z*PC%$K@,_.?)^=HQ/OO'/!!A3;\H[`G#.F:'NQO9P
MXKID`2@W>[RG`)Y+R!8`DL,QM*:B'5?%\"6QA@PG40P?X-%%B/RT;-Z0)?-C
M?<,/+'\_(?D1<&\9=1W`2_W!C^(P(;QLD[_?RO'-J=K)7NEFK^0D&-$]![I?
M!$Z./622A\`J-+1?>9RR:]:+O?RWV(_9G>W?,BY>[#422VM]S<N55%WBBCZQ
MJ"A9P"+P:*3J/@MF1TDHN,+-(U>OC)*Y");Q@EAJD$2`S>BE3JPZ96*5@"C-
M7*&<E8/'QMN9.=4[53H/\:\L;6I''TDK#[>-,+4-X;L6;K3R<-L(4]L0ON_D
MRU8=;AMA.CW"OP6Q[9TUFDL\YOLH&NM.UP'+."2#^1>PA&&_8-6SJMNX)J]8
MB09YW,"(0FX'6^/,8\GZC/09Z3-JF*<*BW`P^.F5L9<A]R9UM>"8PM">Q75K
M8=*\ZCTAV3^Q^Y6Q36Y6A>7YCB!4@6&/G/#>8-=RXS8BZ^0`7#BU2*>OM2OW
M:R/.3@Z`)AI--)IHSE@N[:")[5@/6=Q)?QF+0W;!W$7G_[3ZSLBM8'"SMR85
ME,!Q&J=0K]-#<G."Y,:K;.G7I?GM*Y^4TD^!#$T`C1%`8_)1TX&F`TT'9T\'
M;1<(#6D[^]:7M<:+>&@RWY>AM,%7J3&A,:$QH3'13DP<6J+M%+8NV/57ENM7
MW?+'K*KCU.%L37YM.3&-B;:<F,9$6TY,8^+TPK$BI+D"WQ?6F;04J>M8.)WS
MZ-RNF$:`1D!N(2KDUV?_A,^^(4FU?Q.=7-?^LY%5)]-R-,_4F-"8D+RC=_IN
M9!H%)T=!0[)L7ZNK))>[NCQ;%XYL1UGPR0'8(T0\W+EMY&EQHBFAM<FUFB`T
M06B"N$"":+^L:$C7.4WZM!)KW9/4=<I<BVA<YTR>%0'HW%E-!_B(94Y[^[8\
MTB1PUB30,P<M)X$2?:?8/KSJ/^"K=Z`J`02_/K.>P7:B.]MAN!_ZX9E!)_CK
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MF,:$QH3&A,9$.S%Q:`%8$=(W@4^+88*['\25JV=/3#JZGZ!&@$;`41#0GYA6
M=Z(/_RD??D/"2K=TU%SSS-ZK,=&6]^Z-B:$YMD[/2C426H"$AN29;NMXD:VZ
MK%U[:)\6)9H06ILFJ0E"$X0FB`LDB-:+BH8T'=W4<4<R._\4N<9)7*=(GA7^
MSR1%4M/!@>E@T#<G.T]DT#1P,30PN(RNCIYNV?CJS%HV-D$E;>M$^#X(J>DB
M05/2>#&)X*H`F=[Z[AQ4=7A7X@<W$0OOJ2>AZR\3>.H%=:8R^B]-PS8<%LU"
M=XE]>8Q@3J@3C]F^(WZ=!^&".O?``H#-.(!OP1N")<&A?,6-C)#].W%#>,KV
M`H#EP8WO8)60`3W,@$1LN9"`@;>/C(QY&"QHM67HPB9#M@S`VH`7+.$,`Z=C
M8#O*V9WMWV8D]B98+&W_42!P,'H5$3Q*5TI8QP6PY%H"R@<6,L..1'?+2#>D
MU`TI=4-*-;<K!>Z/&CE>+>IHII&\*2,BA4IF1F@$7Q2"+8W@"T;P!WR817$*
MV1?0L(VO#_;R#-%<8GX=I*ZG?O^TU]QB,8O]R[O3FC2;]CPY^.VHO=(^[69.
M[R!L\<%J%&H4:A2>^F`O'(4O>N9DO&^TK?96U^>;-23+]\_Z_A!%"7D;@SEZ
M(?,%2^35>JBG%Q^*W@Y-Q[O7$8S-P7BP(VF=VVFU%@N`A,&N]_O<#JNU2-`)
M^1H3;4T(_[OM^A19N?7A<P?#(C>V_SU,EO'LT6`_W%C34NMI26-"8T)C0F-"
MS:$T1[V+J7K:WYZ[=C`\SA,<XD`=.CD/0IXS0#D"-=&CT]N;3F\?]7>U&5L8
M_3\Y(DX.P#Z^*<L<]\:G)`9=%WEJ&M#53YH@"FI-;W!2GG`^EOVZZ+/5W9.*
M=3;[:9KKG!(?F@8:HX%]^E%H$K@($M`%;B>C@P."L#]!9%4R;2>-AG2<9@/U
MF+=:-U_U4&1S:'+4+MI3OU=CHBWO;<!9/JF>DZN1</'7H2'IMJ\%_X4M[4<>
MLRA+0].$M,9QW!^:W6YE+\=N5*3[P+;_&FM,:$QH3!Q$M.UON+W[P<*9&[%(
M6&Y=;;F=#Q4]<4R\L$QK>."T:JU@Z&N@,7%F%IM.,SLF`/LD%_4/$(C5R47G
M10,#L]_7"69/FP8LZZ3YIIH"3DT!9Y-BV)"*L[_EOC:QK'*;SHO()-`9)3JC
MI'5TT-/]DI\V`5CF:*K;YS]I$C@365"BSQ3;9GOGU2/WM+#"(Z[\(<$?ON3Z
M)1.4P=SXL%C:LQB]4U]C.V9I>L&G)0OI01Y_2=*-TDL-250`)'91YFV/L;=R
MH2MSE"Q@3P!9)/H^N[%K>X:]`!TTCM1.`_.`MZ"FQY0L/M'X.Y_K8.9#1-2!
M)Y?N1Y]$R4W$_IW`EM(%XSL;?@D9K0R7SI&-GZ-T]_)D@O0$J+%SYKNS%:^>
M[O.L^SRWIH'HZ%0-1(4)F`+V%7OR'\)^UAUB3X/@KWGNB+"MRHBSPO4.[I/:
MO$=3:UV'8;.BL1Z-XR,W^(/:M1ZW>9-N>(VT-,1_6K.#K,?^1M@/=D_WVL2A
M*?^XP)V>=Q^Y8[O&_>5PPO=R+I#D</]"`^A,F2*VMLM!]N)C$$4OC\4FSRKT
M(U\F[+3AI'(S7[4`[WE_V.D:"]?S:$"3;WR:Q0$&B$8[-1[0W9H+W0/V::E[
M!H=ZX>C;IQ?O&9SIA6/OQ=2<6KL6">Z\U8.W2M\WX_&O$+Y_%<SG-"=/RH)9
M$.D\_H/%9\[MQ#0FVG)BK<7$BQYPUY.5;!Y>OZX(HLX?/R8`NDVII@3=IE33
M0`-=*;O3?LOY04OLA6M*-L%D#91HC\P.#>;CQG6;RH97UFTJ-0WH-I6:!/8J
MCC+'_1,FE)^!Q:;[#VJ?RYEB0G>]:P$26G0=6F(AZ*YWNNO=V9U^BZZQQD1;
M,-$:)57W6CMC*GKBF-"]UO0U:)%VJB.TQP1`=_@Z.0I.#L!^';X&P\I=:30-
M7"0-C,WA<-^\S0/10&L,A.I16=WCZ63AF#/IZZ'IX.`M?J:]IH6:)H&S(H&#
M"+5#!6:SKCY_^SF)KFYM>_D+%AI2;>%;-YIY092$+/H&I_':"V;??_O/_T#H
M_R8??F>'/@`:?6;AUSL[9.F#&!W`,_S"YK\^>Q\&"Q!0O:NN!?^+`_[S]*K?
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MZVMTG!@=H$M>$4K4FV)<4]?`5AW2#JRVS$<4WMZ\Z/4GIOC_RTWL6*@2HV*]
M=$U%Z`\6&QXR(SN.0_>&=+XX,#Z#5C,'5?!=?&?[@5?SL`5LO2.6I></P6/S
MRNC=L5!]NE>=NM4'V[!R-4ISFZWKZCXK3.Z[]EXH/>>-:_2>^\8;$D!_K0N\
ME\EZ(6E>&7O(UH\LBGXQ/H=LSL*0X3+H,7+<>]=AOE.Y.]H)M:_-FLX)J+T.
M0#6;JPPJ>S/7(^1XLJLENO@)2&`K%,=A?:T]C*>[\Z=`!B<PQ@C0]2TM<8/%
M",.DTZ5NF/)T\!G8)GU:]3!>H[L^!4EUVY-)E[KD2YSQ)T]Q/,H-.#ZQ'VV+
M%[,1C:OSV<A%XNH4MA.7"$7)V.,-DO."8MP9EP@*_FF=<$,F)^YMUZ.`9AQ@
MY'>!$V'0[KH#P<7"?8VNWBFR(5^+S(UUB1N'=`C6!*6FHW!@#KO[QA55NCJ!
MX77V%'$LF&J1QG1D]KIU7<@-4T9C-L'9DTBKF$:W8U4NQCHVRRB1M@U/E-.)
M04\^A:-MB4'[)N2?/%JMJ>I(*0\??-#(62XUR-"Y06W`C,X-:A4ZTMR@_%VY
MC.2@3>RVP<0?ES,;G?ISQ$2"H6GU=IZQHU-$#KOV):>(:/1>-'H/J-3K1)^U
M'IM+3?2IW$_V$#%^G>BC,SS:;NNT?>=/@0P:%GD$1$D23_,I.]+PT@DZ%Y5(
MH'%UKEN\F(U<)*Y.8=K4"D@+I[U.K&G6W7;(&/G`M*I/:3Y,C%PG3[0ZOZ9G
MF;W^OO.M-(E<(._H=FI[\(]/%Z<0FC4L[FO'^<7X2D[`8!F[@:]=@&UR`<HV
MAJWW`6CB.#YQ3"MW;'[R1-':G6O_8#O]@V]%`5_F(4RAT9["B_%H:%R=ZQ8O
M9B,7B:L#&CU'KMCC+D5=LU<1IC:Y![1KL46$T5;78K^WKQ&E2>0"><>YNA;/
MN(3OE-W80V8\X#]LG\"Q;V]#=FO'-*B\;_:[79P6:RR#&!0+U_:\1][@Q;W'
M[R%=,>?*!KW&OF7</(R,>1@L<@-Y(S9+0C=V<;!D$D>QS6?&S`-N6>(T-!\K
MV4"EP$HVAI5L):VM.P;`&[%UKZ9M^$&,?X]<N!]DPQJ@;LT2SXYEOWG9G\:7
M;4>SMO%R-%M\%S)&S6RJ@&4:=H1?<T.#S>=L%AL/0>(YQAT<BW'#F`]OBMTK
M>6R=UI+$ECEX-6BZ?"ME`Q7VO4C9J(BUTQ^*8R*^,*`&YGRVP_CQ6VC[D3TC
M[W\V8B+]ZFZ#(W9`&3QZ-AQG?UCA$5?^D.`/:5(V`?@VEY*=I/N@[QA97`#9
M@?$F6"QM_]&P9[,P@?N)MW9INP[<^^@NR^Y&3@"\:8G7$SB;&T>T+]CP:R4E
M7$2#YL;SZ6!*C*\NCS()``G,30("V76(*RWMQR),?*&17,C8L@@!(LMY.\8G
MW[A.;N'HC9XE%X^5$Z%:-^*!8+#9P(6`LS.<2&D\N/$=/;KV"(1-9P`G@,T!
M$YC1%P@"^7XWBG"//;,_XD)"L']QO*J)B*<OIK73IL?]'GT#?B9^&\2V!Y^:
M?6LH/U?QF?B$T2Q5'\'((W33;CK&!]@]J"AXS?D9R?UM^28_,ZI)`_RP&QQX
M1M*-\4G)4J;@<9"218+@$>[*(V?_=-(23'@++E;<#7P0NY[Q3]M/[/#1X+@<
M='+4?6<[=4]D*XF/S.&D3\>-;U1.WZ9S6:5M>FYET)LI%P79YCU6D&[MX$%G
MS2__`'6,8/ML/TJ7C!!K!LFUC'.J_#+CHBNTA2R*X1V5KT/R>7/GLKGQ[@?H
M6*3P?9K/W1F@GNXK:G#/Q\-N1C($456R0?IV([[LPHX3XAR^\;L=`JL1#_77
M45,F]6L(\X;U`$O1`ZPK4`7Z5AOT@$/(UFW<IZYP35F-8)X.,J.N2DJK]$(+
MXTSZVOSFY"@Y>U83;>(U@.:ZM(27/EIE-K8;PN:D3'X=V"$GMQ)61`!M8$=(
M4I;9VXVD4+/Z([C/MT_)ZU9(_P3#\Z&PD%'#"5U_YBY!E>%J4TS6*FV6WOEI
M%@?XRM[4%,L67VF`@9W>-)?T-U#ON'@>KJY#$)2OE<(_+%LKKQJ"6N:DD\J5
M%^%@M5C,=\5O$YMVXT<<KT9H(V;-M5)+FNB?)`\?JSII_JL/@)!Y$L(?0K$$
MU[&J,?\V79?+OMJ/VR[V!X70>MWN)$]E2+QA,D/9#N88"V,;W3$@8>E3$+7P
M!%_,"T#\DFCH$Y6GLH'F_#$C\TJ10OWQ$2<&_NF[^-T;O#J/2*/JY5'$5'J/
MD-Y8X'.>`L8+?<?G]"^^@L\11$L0\O!,$#X2'*2F"&"R:VY3IX\"W%QQW_)2
MKO?@/7`2)NC>HJO:G>8L2`D\EY2T!Q"I0"+&%^&DDT^8QM)+(J/?Z79_TE>G
M45@_I+R;X.&4GBP#GZ96>HQH69J2J.7$\/O<GKD>L+S\G1"^2\#LW/5)4G!G
MA7HK9D'$>3$09^*3AY,Y.06]0W`@G>74=J2G&Q8_H,]1710)BM^9W]GLSO8Q
M!`U_[&RD:,N4H@V_+DF5[I\@3G%#Q>TJ*._=*9K=4H+)6UF!@'N:@`]!P._9
M38C^!4G!TSQ=`AVY<Y<Y>=ZZEG!>8-]`J3"94B0,QJ_H:?GKY-5+6`20[DJ?
M.#K";H`[8J2&W&H!^<6".;<:N&*HLD0"(4]7G#]&8+,"U20>T$U>G4%7#7IJ
M;'_&,J=7!_8D%"4XR7"1&JPQ3:0M^88IMI[S`96Y@*3KA_/Z!7-<^A9(.RYT
MTD..[\(@N;TSKN'">4*SA'LB+W.4`T0):$@=2=^*IF]%IL&N*LFV[P,SG.$U
MD"0!M,DB6(J30V3';C1_),K%S)L;N#(^BXAU$^ETC*_!S`6>]N;OQH</0$^Q
M`U<GNRS\K\IM(4ARU+Q,`$`[8BH,B@ZD^F?%6ORBI=^;>;:[*%KHRC;EZJ-7
M^4VDZA<2XQUWZR9+W-KSH51U3+&R6",'`"SA&Q&+8X\4)_8#^<<MC[%ECN(U
M@*B^8WX]WMGH@>:PD#`"0&Z86,!96:'">XU[G"M.,LF&>_B3X;C1C*2?\-/>
M!UZRR**<7`,3D4ZXP#-6<0,&:,@AK+$$I#)D/2[13VB38;4$J@X<>9(A[L#A
M#&:.+C>`I==-'W;LQ\CDF%D@GP$)ZCUF\[0)&K*P8.W4:2^/F]C)W`V!*0G7
M/;R<XTPSED9AE9+&Y;?(#@FM7*:H'$:@0>`GQ89`G:1M-62.]Q,)Z=X-D@A0
M'SQP-')N`+=@'B1POY(9R(^(Z$=Q;/*;]%Y<CT>49-Q(*7I&NJ5@4@@IEQTP
M&%AJX(?KANI3<]L-^3TCE;)GF=9PJAIWN4O[W)I*SH);H;T"$F#?B1O=\>/C
M(A^/PO7S:U$LGU:1B^1#*,K=0[`(`@[:#?!)!Z\,;AI=OW0OY0U'[BX9%G_$
ML^$*.:2V<.MTN?1`,R(#NO16/_`$`>$W0:V=Q>*=4@L"7B:.F:ZI!)9>>O.H
MHD/?U49A_92W[49K77-XN1+T,,#_0<L#[4Z0"3>=S'*_W9PAW>1N:1))5KT,
M@QFHEB)C1L97(]M+"2]]%ZS^/L2=?*'K@J_&-R#-<*T5/I!?)#)6<F2X5BV=
MG<9?Q(]BS?0/[5][`SR7,RN"\#J-ORL>M"^/P,2^):$/W+=0\9B4G(`K]%;5
MZS;=Y-LESX+@F(4$`%R:`/NK(R!`?A4`37&M(?"O7/_*LQ\VZ#FE3GL3=:KG
M/9$Y!D!2.@.Q>`6:B(7W+IHYY`24AR1TKY*E,F\B?IO-X75`PSD63_?T]U!N
M9T5B/>_U34O)M2@1@:HW&P3(=6GDH,`>>$@C)Z>!%Z`JF0MR9(#EH,ZKC3F*
MX2<#G]VY2XXS97,D5+B0B$6F6^#[C+N0Z&&,KX)L"H`2".OKSY;'6G"G;@AO
M"$+2)0HN`SP/97V9UQ(Q]AV0PSRQ-'PQ#:Y0@!<D,[`LU(`7_!37D],J')I)
MM8!)_0Y*C,T\X[\`IR'@M"JC`MF:79W2.%HQ1^D#7,8EHRH6>,8'=0JI0"06
M"'YQG6=C!>#,W>C,E#<%;^^=N^`.)G$?;;H\J;=(`D_+1\D2`2.G/EK8F'MZ
M0XY?8C.,M[`VEAZ^)%AB%WV\T686(X2;%(J[LXG1KHU_BH!#>BHW;&:#W<IS
M4=$&X.'/?'Y1KY.10@GF\)Y+;+MDF@"(#%^&'F_F1[0+?#-8*;C1^"Y5Z=%2
MIX"'3/=Z",+O',A9$H:,"+3P9U2%,)D@XOY"=7G0DTGCXLO?N%</P'"\1YE/
M%DDG-G==$Q28/K:$-_YP%]Q"?CY!9W;QH.X0Q\BP7,QL)F:*\`0^EPP\E0]3
MN4`Y![#9`X\V+9(X05=Y^AYR::0F%X?`9U<D7<C5>-`TEJ_)3<3^G0`@[^[Q
M/'3RZI$YZ!<F2%'2WE?FNT`2?Z:A&QYHW1)+51($2M,YT?A`%B.-$<HE11OA
MN=55S>:(KYX&CM+XI3`S4J-#F!C+Y`:L5W3!,]2L,I]>(*SB+*.K-U)X1\O1
MU":2:M_IK!#Q5P;<@M/*M1*Z_B)#UV^`DMPXD[TUJ%FDNPAR_DR"\-.#C^FW
M!5N%`V$H`!!`:X%0?>GK(56"46GBLX<KA*B>`\.5BK$2*T)!47AC03U*!19R
M?PQ%W0?>/2H/,[Z^#/\J?O-!-W.<VUS<8.(#MTQ2I[JZJ6_"X7U]91D?X=%B
MJ(`B8<4WC=*JG=(W]8IO*HN,T2]KC]0TGO>G,CPLN1[W.BQNR,.6'0=/[2!_
MA00SXI*WD!2$*DH"HK?',Y;Z/.UI:)D3L9NU:Q`$M=<1"NE(,[-&8?TF[SA7
M4?D]1R6*#$15DWR7A(&#X^?"C$A^ALN$[E@CY"Y=^)A?QB69\WZRR%QBH0AT
MK+P'E$90B$1Z'"SXPGY)E,._<(-I2%R3HP16)-(7+G\"U3;NK/CXX?6G+ZFC
M``QQ=H]\*UV<.WB-%UCA`4(7K%R&VA<PEHAT6-\8_/02UB`87KCP?AN_@P.(
M,'Y$\.%AO+!>TL@]`^SX)#)>]#@@RI[@%H*!`8>:??L%)F-D[FSA'TZ-FK]C
MP,D/TO(&[O9G<,=A3?FZKX\12/67JUN4KFM*QGAQ\[+HXN:D@J^VNC]M14Z*
M3.622OS0_J_Y`G?N[1TWV5[\X)](@-\GF&'\+K5F*&WD1?H"?%2&Z`P9GA.L
M`M<EKST="#Y#4,S%F^?T9C5"P@4$-Q]3-KCNY.B`NIUA]R?3>/&HDMA<\0%+
M!<M3`LH$!6#M+QS2:+R'`PV,U[;_'9]&E2QCVTO*E*'S2QFV`1A[\7_E!$LP
M61T$B7[<B+O:%7VGYBWGQ`<_J(E[F:V?W@#I&"3L`7$(C=ZDFC&@`W2:X;^!
MLSAL;B=>C'CG3`;P)S]#"1?,R*YV\`&7G(@Q,!/2Y7/I@ZG%C`DVV,1#I&1*
M98@T&72C<MX&M(>\(<B+91.9N2DSN7CC1'E35-W.1*O9D;G_4I6S'9'JFT\[
MN[$]BF*(]Q35'@(X+[2-;X7U#"S@M;T(Y<N_$S?DRV!R$671)9&X=A[6U\T9
MK=6#BZ(P+U0>`DI*G@&N@3S"1QZ_P3^P'^CVP%^B*)BYI!>EZF1!Y],J1258
M"TUKNJY?0\G@><L*`63>,I#QL`[WLQ%92#L<6*XM*\8?<[$U7KX-J&4BCPMI
M2'F&Q];M^R#U*HI+DV5BKK=2\$)B,ICAXQ3-`-AR1E]@S\/[4:X+M^`#C\ZY
M>)+V?([1%>[$PVITC&1P)QSP`8SAI1>K2+=<D<<OH4GEBI?#??,2TGB(D40J
M)WF1_9%26^EZ<\XBKB9<I!7^HQ8X2GV+<@;4?*C@(=-2A#OC93Y;;MWIEAEB
MRLG2?4^/ER)$+I?DP@LG;R=W5R)_]',[$D6AP()R`+_@QTEZW#(),<::A4^*
M0(`1.`O=&]PB\X('OK.`A]8<-^*##8D6846N<\AX;YZ#B:-#K'LN5UW*^&J&
MIW9D!>Q^C5O.A-H`P_H3%$.Z93=(T/<7MI?CCE7O#6:B@R"&2Y#Q%?CCC%%#
MA51-*"%&A>?>),XMP\6DH.P87X$IX!Q/[!IBIM&3',ESYSZ5QZ,U$PLO?H3)
M>#=P\9BS<O]FL*7;(!1<`S_A2Z?%)-*;@\P<#M^W;\6F4X\0:2*+0-R@O!8A
M$BO4U'D1M<'T*P%56BW%?LPH-YC$1U9$EIV&W`_&#8*0<99BG33!O0[%GYVN
M<JD.W592QYGQP]Q%I_8,9++C\Y0%C!GZ`"F/^W$1C=8W\A/Z&"VS*+GY7^''
M\EQ@6$++=!=+"I?<//*((JA?W"9`DRK'=UX4U063[!2,ZY`1^'`78!97R%MF
MA+%PSJRZ4XM&$F@MDGD5G;U1EB*<LF'9CD.FM4F729657G:,?X!.=X\90X('
MIXHA&9`A4[I]%"PZ@H!#1;%>0L0V)VU)[&"!G4_(OL/U%BX8<#FGD-"KL_13
ME#3E]K#(TLRZ-LE4OE1/DT!%"3PH]R;+.0J0RH93\'V>ZF=GJ>7HR3&Y1T;8
MHP!R"#!A%4T._&^@M$8):/+D[^(A?+YZ=K@$%?EYAEWTM*%;`7,8JNG-,H+!
M?6)`<7!7'1PJKR(P*DLL2FLY4W.#FQ.J;HIT(!,2,0H?HG[!#:Q7QIVD'O$F
M`J%\>5O4P"@73V!7GH+`?ILEJG%V`L+JX9+-9QN5A-(.$DK<%"K<$"$DR(C&
MJT0(5Q;9(2AH%0J'L]A)D,5.T*6%GHH7/,4>/OOA+A+*5AG*/T8O\?8AUV"%
MG!C)A-/579\_NI`^`+Q@6>3BN97&*;GWDB#-5A6;(?E'(<=A?@ORZ(B58F)D
MZHZA]^!I4?D4<C-;@G_PZ]L(1:=A"&Y#Y!.K+.DAQ</.RS.U1"`0,GEA.TS)
M`ELA)DSP3+LCD"3*.6*EMT7]<,@1L&EM7*K:^B+S26W0H*XU(C<1/P=,M@(Y
MBZ>1(C_P'%&F@482K\T8=G^2Q*AFRY;5'V?.<JG5`*BI49A[CL.0%8*(EA58
M@^52YNMQFE(U0F`Z?/HDPJ?5XZ8<*3RY\G1Q4T/$3+FNN%?<U-PC<"HIXD2!
MTX[Q5XF[^R804:"R&UE$I+DF)`NX'7:&/[V2*H3#C2,9DO.$%2=K?7-V#$43
M7:J)G]E+%YLA_9]2A[1A20=9O2-J:2?Y:)BD;'%55]?&%T2!L*3<PQ>G-\)?
MSR`LJ^:G[1AK-7B<=0U!K,1?>3Y"/@;+A0>>Z$UJP?Q\DQ-1U2.O1KVHJ\C2
M:&/D]6!"_D3A2T,ZQXX=M2S%^2FBED9)Q%+87WM%+6L$*XW50*6HIJ@2K.3A
M1N,`H48)Q&JX\6RN66GN[@G"7ZDBJ<-?1PE_'<X8.T'@P)359R),4.:H7V_(
M;V)'.8=5!?]OYA_;TP=\'@2PZL#\H&+H\'Y,W\@M6.[/W`13L?BA:#F9QA^V
M$"K70KU"`:2\_?HV_QX:=X'MOQ"A5`>7TM@:6`7I<DHS#<YZ9(8-CFPPN;&3
M>2SS*4.Y\]G@L.+<E+H"40D4]CSB=U0D2:6!&Z'_9C&J&LNNC:H4VLP7&3?I
M-FJQQ)K3,G,&0(5U1<@J[5(F#`TFZQ>_L_2R9BH$`4*NO4CH"Z;4I06\N>V7
M;J9"G0CJ9`6,2Q6/(%#5/))NZ>^<)-"SI*K#L&)=M*ADD=>C9<$3);JBNNRY
M#.2\SP]N1=%&5BBA3*F_`@#\=>3$*@2Q,I+(J[Q2-^%E_5MI1:'C5%E1SJP"
MB`1#=DX)SI>BO@+\)`34ZGWB$@Y6+-XI2AK&>.<=\!A6_6ZE@>F5:W5D2:%$
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M)-^?2NI\-%S>HL[P;F^[J^K[!7M8S74JD`@Q4\08ESG(A-6+*+JN5=+O/JWB
M+3/LMP5=2^!8%^(5N43]-.1ZM%K5I@DD:Y2V0BJC8=^<3(>[T(G5[W;&XZD,
M.&%WI-0;FO@N]Q#"7KG#)96O'S^^,66.1-&?I;1:X7D7ZDN)-^+99>\"8"?'
M=V,TI9M(IR]G>-1Q4#9Y%!V+11=$Y(7<O-A^-3,Y0(Q?O-L%><SG^R@=P@4Y
M\^AN_KK^+J_1VUSL[J7Z4FK"G$4*XUP$<:@$%TQ5X[8=/"6N4I;)B+)<@O(L
MA4*HA`/%AQGETFBZYG@T-7O3,:J]*>?@Z1,#+E;R@5\\+>ETI4P>2F)@L"S:
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M54QZ0@3H\L\:(L0O3!',__;H0\P\Y!-W42*1&1ZYCFN3[Q^_E+7`W_A*[K.M
M]EH><5+#'FJHB5A6?K0$W>$;)AT.@L8+I,7O#PD42M81R=ATEU8P8!92($KR
MCU-D"3R6=C\$'+[CV/I(V"(@/DBL\AR@N>IC(5!?FMNWER"360L_Q45<\G65
MG@.B0*HY*ZV=A12^29O*4VNXS3C+5%?1/^<CNK&$]OH^G4*2=8"7Z8L`\3((
MN9,(E5[88W27^6AR/CZ"_TSNOII<D6.42GY'VD`+I`T(!CM,V:@UQ#6BA'86
MW]$NQ6^96!7=GTG6\C2B&S`$?5_(:76@#QJM^)S@1D;!;X_<_+/PH:VH/%_S
M_D(^<,#.]0H4-/XF<QYN(&VN*O&#R663I'PKSDN-+.V0EZ<(@#%3A0_:Y:=)
M0Y4>C=(-44^RU(WQAGP5!`%-RBG>]E7!GK>DB*VIC5:%<Y&^G/6!?225/87G
M*U^?>SBELL&S7AZ-G'J1ALN)TREKYX%:FQQ%/$'-D*+4*!+&\'K1E3)'H5_3
M[N]I#_`TY:?$.I%]5DUYZ,0;L.`D7'/^?->YQ+]_)P%(+:[#O/CQ,O6S*5ZQ
M-%-3H!BH*DH6I*UDE4.%`WZ),-$)E$/"!T82@Y%Y?X!])YFEK?-D)NE*9F)Q
MX`(ZO/A`23S[?GY$@J%.1UBBD.!IJAB'93]$=/)EYEA7`"5`WDK/-SGMNYWI
ML&-\R$O8&>8DQCRZ(@.WXKCDX12)7L"+[3E1@F";R;2E57IYT^HPSBY(V166
M!;_]+I)'[I9B'13!D2M.$@SN\"S;.DB<=>O4TF(3VI6&L[)98>-#L974P6S&
M1G%60J[]*%C&HVDC([+3F<WRPM08R[II;[N,R,Z8>(4QV4;E$=ER1^O&9"O^
ML$'6?>-0HVJ'YF1H;1@B6J479H.*T3Y=2I6YCJ00J#=(@EC,7_B4=0$7`SW[
M6^Z3'"::!03S,P^)MH=R?)"\<VLB&VL&4)N%Z:%49Q)'A;H7HL#\2-&5(:.#
MHZFT>[3F)&+\X&/Y`AX"^H\)LJO2C!.5!R*V.`\D3TA:IY//:E35"^)%XNH7
M8FRB*R<>=*_;'1D%N-+LMI6PH9=K-TGS?J6_)\[I11EWS(>TDO@N""F%>4ZY
MU,*&RPP?@H?61J03));9LP9F;S)4QNN,Y&?$[J1K;)6H;S'NPU8GWB`?GYCC
M[F0=I&*4L2.[BJ>Q?;98>L$CRUEK*=!G0(/\(GY*,P'%15S+-Z[46,FH"N-@
MZ27G9Y7/6<RW>G^;=0<GO5^T;A<B26T>+@;OK&VHOK*CJNR\`:SL4M1[RK4;
M6+&QCA]9Y_2U[<_WZI-N*7W2K2NK=]6WVM`G?>5>BABUR.;B,?^MG<:5::!"
M.DAG7T'GRXT+2G,*9+YO_J\%-8X[[H?`,;O6.FZ)$HF,%(H8I"D+U,B@,.G+
M&O?,WFBJ#,Y:>5OF.E-NO.[$=X09XC*WDOP$:4YAA738DD'QJ7A(JX[OBO7,
M0FU7O4"Y*<B"^/"9-?JC=(N5QC&%<EHRCQZTYEP2(\5-^?RZM=5O.S"J/RA:
M^FG^*1T6TJ))#F=`DI_"6]MW_\].\]51`7N-X0>L[-E"E=^X.R8*/->QY9AN
M7AV2#BV)1(H[5U_344^8FVI3Q8?QCD]],5$[[F"S][=@?3U@+=<L")=!F,&F
M)%H7OIQ/N?8=)3ITM1H%4-/N_PMV&MX^(OE^9\1!*?,!E*Q/H,L"PZ0"!*K*
ML_FH&IE&1E=/`4F\J9COMAZ2Q_0(KF\[8%"3<P^`XP`8;P#'H,+[KKT*@R'6
M7SF6Z\_J^I2/YGG"\QK)-C_D-/6=@F,6[!E>A".[+94DW*ON<M'`,3_=.O6.
M*FEG>7V2TL[:S[Q;(&CV;_FJA-5CRI/G;M\%T3JY\1WA5.8V)2#T:F:'-YB>
MAS-\2$3,$^:E]5-_L0B^Z,N9YU_QFA<&RU&2`J:6<HM.#G6:!5?+E,2S^_<`
M2@I6X[E`1$!@8$W2K%*X)H]ALE3OUU]O_[YRS;-)2%A@CP$ZFSOE,/?)%K,?
M'>8!<8JJ20Q$"8AD2ZKXS@V=*]Z[1@S:DR\.-V\<`S(NG*;+BY^S&VL:UV"#
M!S[\\`>[MQWX]Y^Q?<>O!V<L)AR8!T`Z`7`^Q[X+"-:_0,.#8XD#/W^H=)[9
M@"R.LRQ#/,\-^9TMO:VREB#QTQ(XW#T/C'##_]9&ANYCU=2<IZ/1(2H5DX+[
MN"+_D\.&?`Y0A&]P;!>8&R^%"T2A'#R^P#;RZ/I,WW7:F77GW8NUO5J&0K<B
MV1/K*B,UA$7ST+)RR2RV2B.9\V1.?Q8UZR2\?7N!HF:%ZG^WL8<&%Y]%_8!S
M0R]9W.#E+'N$N^ABO)CP9UYML++`+?SV+Y"H[)$_E1=^1L&75WHKR\;2<!M1
M=@&:R?AR\07_$`^\"3I\=66M=_]X8RK=.^BMP2TC#3SU')=#5":TRRIW*<J.
M"Z$\L=<J-3R=U,BEDJJ@YOZ8*XK``!'*!@Y/$@(J:*7\RU6+%7ED)*@F(Y&2
M+$P,6-LYBIK92_B"VEZL!X;,`N205#=O`=$X"5P,-LU&>XF("EEA(4LCDPH`
M9.UDM<"\ZKST06S&XGB8!_<7!M&Y:%:"G-Q>I()G+O)XOH[21"IWGH5AY'Y,
M<1SJA!0E"Z8,591A<WYK3%7=K-$@XBGSN59)@6UIYE4F=XM,*\=0!CWV,`5M
M)<E[)<<;#99[4(3RZ1\8[(AS1M*_/KQ3E3@"AF<1*J&-4@Z199O#A8Q%`@Q5
MC*M[4%I5N7$Z2YYK:=BAS0>=9E;*ILR4&^.@S@0YT9T=Y>U;2ITF5UNTRN;`
M9I[Q5)@.X(_G$1D]U5[^ESR@-)'B'1T0%4M0>I2HT\@F5O/:-#X@.(M43<O&
MP^;0I_2_&%="8,=XS\.$9EIU0WG/_3*'T[JE^OV*Q'*#:9,;R@HH@L\!V?XZ
MBE;!+NTU;'J[NVG5B[3B$)_=,2?QX!F)1(E#0B&P\CU'B2I7?0?^<SQ.M+=F
M"/9E^"B;*U._8='$QK.CB%J`2'U09`#SJ%68JR26GHM"N7.>+/#J@J7!G$RY
M%(V=L1..@4G;$:P<O?REW:=6$[LQL9@9&&5+O)K^[:_/NL_H]P@U'O&[6`Z+
MEUEX14>[C&!1^=,K4#2<^.X72D(6[<(Y6%9*HNF*H7P=F-DQ-G&1.[T)XCA8
M9$_CG:)O./(;`L8K_B2\?2?Z7SF7V&G+FG"@<.[^K\]ZQ4.7R[_V;.`:F!I&
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M>D_`N;.=*?8ZPZ7R,3[$"V<K!QFH^K,15DFPG(8&:6G#"9(;CQW/AU`3E'HW
M8M0W>]:^O%*0Q\FYI2:-)DECW#='W5'K2:.$8?Y,X;;<1_L$"BL#FP,Q#_E9
MQ`1;$240SCJ95N\R'1]HVJ$\,KNCNGJ0#A&T&:-]P.B@E1@]E65?=0L?`Y!6
MF)]&_<O4*@@9-A`MQBJ>[J$I]'R<3%/+M"9U]0?M##PZGD#/ZPU;A*=66L"U
MW8*[ZR_:!W10']!TN#\^6F#K:JIHE"J&;?<7GTJ/.I@SL#D&J=T^#;I]IF-S
M,*AK2FB'X!.@C/'('(S;[RHN890-^P./5CA07NI05I6RTJNE>FG,^JH:G%?B
MXSA-X9/[AN\Y:4G-UA/SVNA6+1.W%Z4NEF3KKV;C@S:R47NK"MXARBDN2WL_
M*CH.4#S1/JWYV$&0]Z[/)QG<!H&CXQ]->\LG9G<R/?Y>=?SC<!4OYJ#73HR>
MRFZONH6_@I"W;@^#VU#VE]/N\^JD-S"MVJ$W'>4X`9IZDQ:AZ02*R:Z[^6(_
M8`-3,()M3[.'^CFGO7&+$NTUFM:AJ=^_//:P56O8-\S9*F/OJ0>Q)H.V![$T
M51R?*BPP=O>-YYQ)<+..-E0IJMGKU8QJ[GG..E[59`+[P.R/=2134T9)U8MI
M]?=U5#_E2&89\WW(=,WV=[YK;@--Q&@W!UK7!VA)!7\+1W)O8[?CZ(\@?LLB
M.`ILC'D=_8,YV,_Q@Q_%84)S'[ZF$R`^S=_+N1"?63@/P@5.)+OVG>SC(*(6
MDA\#WOWO4-'?MI!$!M`A";8-0>]<9'M#!%P!2_<7U&N6K)E&FD?KVO3=-->F
M[PN#K^$,Q;_;KM^NI.H=[)>JGEH9K;]X6GHJ:Q[USOR!,T-^A\_O(N,=CB-+
MH<FET;3JO!J^3)L/M[)U_[BD40&9,M6J,SODUC.E$0]`&>HF-<,VG\3V1K(-
MWC:=C'9Z!)Q1_MEV!^8K8W_E6O@IA-+?[U9.(GJ#PTD=/MC.CT-[UDSKE@R4
MPZ<S;0%@6.,L(AJN2?EX2*?.N1W%#JZ]+`>Z,GC'\/)E8%6'JS<>UX2L<AU4
M[3,Z%#5K&CHL#0U&^W:V/"H-E8B>4_7%:;\_^)+AU+[!5BG$3V7-H_HY_O1#
MZ1W\&$11RWHN-.S1T.[!"UY3NP>U>U"[!R_5.Z7=@]H]6)67'<<]:+7%.6B=
MUC5HM<0Q>.1CJ'/93N//V0C2SLZ<%X-QW7K12DWB=CB?EYIBSH)BK-Z^31(/
M3S$E`J4E*:/GXF$[16;HOJ=6EE-ZPMS0]0FK;]E-K"QY\=FDNG/1^9D?Q^I<
MA%^X"8V?M678`M3DNABIF$FA.B_;L;VMC?[+]5EX^V@$W%'DWQH>.B'!A)J%
M#`S*FF>L6^-L+78:F_6[V^IN1VU&::]K#OKMG/'=$%<Z6+NCK\QW@]!(_(C-
M$F`XAA_$E:.%AZ;',VJ7T36[73WHM?5X$BL.V[3%$R@NN^X&C&9F+.U',LSB
MP`B9A^8S?!3&CYH8ZS:0'FJ.H9%T2=K$9\^&OW]Z`),F$ML9C%"_$N.D-/75
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MG1+U%)66&2_#J1Z4T<!0`;=D*VXU!;^ZT:6+W[0-<X8VS`>0%&56C`J3K,=Z
M\:_``_._73[]DYHX917W^2EF@TZ_^G:%)62\N+4]+_"CNB=]5C;1WFOO91Q-
MQ^:XV\[*K&,92(V2+IA,QHNX!LT>FDK.)S5AV*+TD;9K<P<=#K;9AUWLK/#>
M=L-_V5["7C^^MCWLTO#UCK'X[W`)EW")3NK[OF3UCU[\P/"&X>->:5>RIM2C
M3W"37=_VC`]1E#!5&3+>VC&K>7%+0#^%XVC+">Z=&W0HP)I%[;L?+)RY$3-(
M]3T,I"T^1`W:Z4@/["@[=CVW<AWCY1R@!NUT9/?%C;ZK(BR%Z7W(F/'!CW/R
M[4LC\NW,#EJ#=CKR_,;"12EYOG@,:[M"SO]0-6BG(\7?[?`[`[,HE=&9UN]&
MLR#QZV9_GO_!GMH%?E3\*Q"G,A+,?8/L_?.SMDJ\.FWJ/GAH"C\?5V#[MW@Q
M&]&X.I^-:%R=ST8TKLYG(QI7Y[.1B\35#HII0\D;_<$^V0.?9G&`'8M[76O'
M).N+[K`ZWN=LNYW:_;A;D(UR'OC<=^V]$#L>=D8_G=^>-68K7-E13V.VI;O<
M"[/#SJX"3B.VU8@=3#I=?64O2&T:]%N)S88T_%K)K+7.+9T^4F/(2%LMKKIT
MMX?`GPS:8T6>!W).T$YZW!G7Y?$:34='4[<ST&AJ/YH&G=I5R!I+)RBFZ$SU
M96H_FB;M+GHY9B_.6@?WS\1[-&J,+&PKR1U156W34(WS0,X)5-519Z+9=NO1
MM(NC5Z/I!*KJ>-]QZ1I+A]>!QIVAODRM1U/?[`];9/@UI*P>SJ&J-=3Z_I^Z
MOGO-!HZOH?:U8^$,T-3M6-J9VGXT69V>UE!;CR6MH9X%FB;#NHVLVJ^?'L69
M^I4MXS3XK_75RB)VV*)!6N>!G!/HJX..I7EWZ]'4[?0UFMJ/IGZG]I19C:43
M1)6UOJHT%6B\%\*>:&P*(LL<7:#&JZ?XGHQOM'^+%[,1C:OSV8C&U?EL1./J
M?#:B<74L95>=PW,T/UJ#L(S,P?1I)LI>"F%J)J)QI7%U1AO1N#J?C6A<G<]&
M-*[.9R,7B:L2Y773:".AJWYA#I]ET]8Q1]Z)AVNV&[ITS&>"/UQ'1C`W9,<'
M@K!OF=3YX1<"/TDW4G$^:#OVER>7ZJ#KP4]K#U</?FH18'KPDP;M(DA/#W[2
MH)V`[/3@)PU:B\E3#W[2H+6$%/7@I]."=NK!3SCE*85)3WLZ!(X/3=;:2ZIQ
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MQK[>,1;_'93YI>O??@/X7WO![/MO__D?B)R_K7SOH\LK"EP6_<[L*`F9\\G_
MPF9)&,+W7]N1&_WI!S<1"^_Q;#_XRR2&/P?^#+YEQV[@IVL8\"D>V!<V__79
M^S!8X.2"JZX%_XL#_O/TJM]]]MO6739XM.="`F<$9_M*\QM*Q9H,*P?UQ&4S
MTXX-ANS64)-!/H5PHE5<LUZ$9P>Q<[D1Q3I;^,L.0QN>8**K0-12?:F]NNT+
MJ_+LG7TWM[Z8M"$RVW5LT=YU8=<.RJ,%\^/(B`-C#JJ'<8^Z!S#]T(COF+$$
M:18X-0_Z%'6)FUW&)\A&J0-0O:DB=>=^EJ#CK)EO747@=SN<W4DMX-P'=AV?
MTUKF9'`L5MO.>@#-<Y\ZSWUAF;U)W5ABHWSWX$I(8^SVGXG/C'Y7<]O=<A.&
MX_;L[8B\MB+0-"?^TWS.T`>FB:NNZFCV)RW*R6P)Y\H&NFK"VEE'O,3A:EI'
MU#IB]3LPK3WL\](,\W7[HI!F;?]]QI9K*I.-@-$L?:E!W>,Y^6N"4J]N8(<A
M0Z4(.3;%%R/1#41X&XS4%J/!7V=WS$D\]FG^QO9FB4=/?YK_D2Q8:,=!>.T[
M;YD?+%P??_O@O[-#']:,/K/PZYT=LF^XH(X#KX/SVQV*5,\+'E#K0W"(.B(X
MJ`4@B0'WB]R98?N.X;@>?.`83)PPBF`CPC,V7K@^".4@B>`Y@)#]F`'K4O[N
MV+']\I=VG\391YJK*F>\]=_!Q<!I&B!:V:$?KMWA'Z[/C-_A\[O(>.<[S$G!
M:5QDM[+'X9.CJMX1B.IC$$6TL.R=FHJX-A_1Q:.%E(C(4'2,-A_-Q:,#U+HK
M0HEZ4XSKQ0X]AEO':AM*%1L54XMJ*D)_L-CPD!G9<1RZ-Z3SQ8'Q&;2:.:B"
M[^([VP^\FH?]%'+)IONDDKVP^N9P6#>SH8'-UNT4?U:8W'?MO5!ZSAO7Z#WW
MC3<D@&IE@`I)LY?K_R.+HE^,SR&;LS!DN`SZ;1SWWG68[U3-$]4>_Z-DA4P'
MT_T1<CS9U1)=_`0DL!6*X["^UA[&T]WY4R"#$QAC!.BVB2;TB>N#8(.'KB:=
M+H6#Y.G@,[!-^K1Z\#!R9RE(JMN>3+K4)5_BC-<9'F>^Q8O9B,;5^6SD(G%U
M"MNI/&=*S1!(!<6X,RX1%/S3.N&&3$[<VZY'`<TXP,CO(O"YW74'@HN%^QI=
M.N^DP;R3%];`''8;204ZG>%U]A1Q+)CJ)>"-S%YWW^*XP^<D/1$2:173Z':L
M$R>KU:K?.==N*9Y.#-K%^#]"<+IMB4%UVT:T+EJMJ>I(*0\??-#(62XUR-"Y
M06W`C,X-:A4ZTMR@_%VYC.2@3>RVP<0?ES,;G?ISQ$2"H6GU]`"IEN[RDE-$
M-'HO&KT'5.IUHL]:C\VE)OK4'>NB$WU:X49](AD>F@PT&30O\@B(DB2>YE-V
MI.&E$W0N*I%`X^I<MW@Q&[E(7)W"M*D5D!9.>YU8TZR[[9`Q\H%IC0=-(*0%
MZM[9$T8K\VMZEMGK[]OC2I/(!?*.;J>V![\5O:#:Y`^\=IQ?C*_D!`R6V.5)
MNP#;Y`(4$`U;[P/0Q'%\XIC6[7WZ=(FBM3O7_L%V^@??B@*^S$.80J,]A1?C
MT="X.M<M7LQ&+A)7!S1ZCERQQUV*NF:O(DQM<@]HUV*+"*.MKL5^;U\C2I/(
M!?*.<W4MGFL)7ZZ8[Z`MX+-&^LTVN2^VT/_@WX,6$H2/[UW?C6"EOP>!$^5:
MX5]'G^98E'9E]:[ZUC,C\5W^AS^_OGUF.&SF+FPO^O795?_9;]-!;]KM=C/H
MR]^_.Q2R"?]&*";=R5Y0_!6$WS_XG\-@QJ+=SV+0FPS*H<B]?W<H*IW%P!KM
M!<47^^%W.X8+!V_<^2BL?G\-$.KK=X:ATD%8O7&_/@R?XCL6ID]^399+SV5[
M'$2W0!/E[]\=BFKW8S#9`8CT`:P%VOD`1E;?*D<#O+;NDMU*2P+>1XTM68W6
M!OWQ&H(O6?)WYKC)XAL+%W\$\1[$-002S_.]PIMW6+C2=H>]T61<9^&/@7^+
M?WS+;G8GI>E@T,]O5WUMW26KX=6:=J?#RFM^O0O"&/_X.@A#FJ*R.W*OQKBN
MLG#)RW=<O]+6KX9PW89U(5!/YX_`QZ$_<`UV1WE_-%F/\FR!W<&HQ%$F@^G$
M.B@8E5`"9S'MU@!CR=P?OWRU/1:]"18+ET;H?6$+VT5]\7?XYR)9\()8_O>8
M.>_='\SY'+HS]@:`#.U9O`>7F/(S:P:,HVWJ?T1EZ^_4HF'S%L?=L]SA7RQ^
MZX+1Y'DLC/X>PINK;';8.P0^5^:'74=1LN`Y'^]^L'#F1HR^N8&)_,]?=AC:
M?AQ]@.\RY],L#F`W>+O+]O69E^JKV_OPQ_MGOW4[@V')/+-U\!QP`V_9C.#&
M!^KLP.H<?0,I236#`:O7C@WLBH'.9'#J#5A\!S@;&O]:"_J3DT]O#^`'_5-#
MSX%/V_O4/_YIXSM8LAGPWW\%Z$;RW!ALWSB_%3'XT%(&'];GJI\!+I`")1=Z
M--FVI3((C[VWC=>]W9LKF5C9".+&PU'W'':W$^HZX_&XW9O;QL77[ZSM1+F-
MQ:_?67\K>VP#06YF_^MW-[`.M;LO;O3]?<C8!VRPQ*+XN#*@`P]O05P9@,?=
MV(X"H-N=;%$Z#KVU0['_;G>T114__<YV8_W=[F`+[S_ESG;E^VW'V,Y<O]NU
M6HRNO5A^M]O?PO-WW9J4%>@;;(K3__9Y^-]PSWIOJXDI7/HXH):P@=\^#Q!6
M:W1D8'?AQG2NOX];!^F:8^W_;K4)UG)^B8!.?[>Z+0*TG`'^]MG"$VT1G.LY
MVF^?^_]='T[R%I<]_+L=?F>Q?4.J[%LWFJ''^)BNB<%X()S9E<$[YJ9V5$F'
MO>[I=G4H;13S%]J\J]TTT2'Z^]JXJ9V=#\/QL)T[VE7][+9W2WNIGL/)SKN2
M`@">9W&4?AT?\X(H"3?%N38'&'N#?`[-VA7V`J5:[-HZ!BB2\:>/?_"721Q]
M9/?,$WSD?S"&&CB`AS1R6B56>YRCW`1_KR;\/R+W%]_U?GT6APE[9OQ\,,#Z
M;0"L/E;IWIX>K:71T!;"61IX.SZ5'71]*1&:91^$P./POTT;."G_V`382?F'
M!.QLT5J-?YP>SF/PCPI45G5]U[]G4?S+6Q:Z]W;LWK,_`M3D;(\G8NVDDG6?
M_3:U)CR3>LO[]P!CJSK617%B=7MUX"#-]@_V\)G](_"<6?!IB;4SKG_[T?6Q
ML"9D<'=VUU.MZ7B2I<)M6V=OH"IIK/T)Y0O7!2K-)&WD8+J#?B^?H+K'DM4R
MM,?6<%)Y24I._VP_8HG4%^;9,7,^VV'LLN@-3YV]]IT&TI:+J=OUEFT>Z$HG
MV2S0:2M_:N)%W&T3"\0*/Q9=Y[]5Q=!1`"Y9<D>HI&+7+JCR9_6Z/E3Y%/9#
M'=<Q`'LK!T,(^GRS[X7M6_E2AS4+[`''FCNX3J`3$\?T?KAE:=W%EEJ6__G7
MAW>O;<_V9^SK'6-QE:.?6E+$KUUQ)Y`D3>P`TKC?&]8!Z8T=W<$#^*]W_TY`
M+_``!1$LW/11]3*@UJZY.V1[G%BOJQ8B5(.-:@`E)R>MM?D3L_K]D:(HE2ZY
M&U![');%=93J0'T.`]"@XD<X4SS/)=8['."L!I/^5(%KS:J[0K;/@0V'PUZ_
M'F1TJH<CJQ6JVD!.!Z.CT;1?"8IO00SVR:'.8M3O6<IIY!>K"<<^IS'NC[JC
M2G"(R_;1Y0$&4!F:/Q:`14%.Z8J[P;3'$?6[HC*_(DQ$4@<])4O4MJY;;A=P
M]F(TQ6N]`1PBL(.>SG0\&`P*%+T_0/LH1J/!N'C5RP'*%?I?SV:@6SK*DSN9
MN-M<7SNM5:G\=M0MF*9;EVH$MFHUN<-)?S_8RM6UZ_B-'8:/KG^[S>S:4KH\
M+;A2*RW7&(S5RJM1=IP.QFI^ILEH;)T02*L2D*`734X')$!8`=O6>#@8[@_D
M7]1IESG7]RRT;]D?"?+/3W/1()=7V'U*XBBV?>Q_53&[0@%]39'>=-3K*CG_
M-<$XP"[RF605=]&S^KU)>W=1)*,UN^CWIVJ][>EWT55VL<KZUE5M]_MJ-=IA
M=K'R/3YI[KBWHAR(QG>PXXT`&[>=.ZA\&\;]UN!@MYO0'5K;[W.U'13;XM%#
MV#M/=%"O3?D;"K>ONAU+*9W?LG0#D&ZF\(T=%GJG@[-$.5@/9_>H![J97#<`
M.NJ,1SL#^@>+>2/GCT$47<L>SM\"RN[PORH-G'?DUF5]G2S0OO)!VII@'&`7
M6^EYM<MAH=]:V_9011&>=*<MV\/6:[#BDK"Z!65^STUD$;5<%+`1TI\.\N>]
M9JT]0*I-Q]/!Z*@@52'+WFA=++0IF&J366\R&.\"4XX8&V*?_>&POY[B:T-0
MFV2&5J][L/4KX*+?W<1Z:Z]?G^7T)],-\FNUOZ?\"RZ(Z9*NGX",%EE1@1]=
MQW'HWB0QYU/HJ,.<RL#SX*EW\'C\V`SEP(/38BO4_6$[UGYKT^G5=%KH'WF^
MVZU`EE?C[G1\MMNM?0NO!H-NL>=V\]O]'`9S-VZ.>8.)7*A,R%:HMW;]ZS`8
M3X8'6+H2KKJ]?B-+UR:3T70P.=C2__.%Q;;K,T>:7=6RBXKBHT$\[`31BD!M
M\HCRMTSVD:@"UNH-;_*@]H!KA=&NAXOSI&_V#ZQ,]R/VFOEL[E8MM:P;`:VQ
M6@7V<;#5=HKNUEBM`I.HMMHF6?*:S8.0I5"QZ-V/.+2#T'%].WS\$+-%5$YB
MAQ(D!P3YQ*?3@*A[*H>SDS"^W,/90:L<CL>]4YT.I6[\'1A;:'N"S37"+0;3
MO!PM66='4&I?S7'W.*!4L>,'UH%`J4]V-*2E'BR2B)HDE&E_TBT0?VZ1'6"H
M32$6AJ,/"D05'^1@8A69Y+Y`U+==)MVBB"^%H=!&P\%Y9)@3'7WR@5W16%$P
M>+%LX=IW9/>.1NBE/U1*$NI"T#CXM4EM-%7SN%L&?Z4RO^&T1?#79WN6)3/O
M]MI!RC5EH6G3/O?>H&?E>5+)4CM"4YMJ>]/^44"IXHJ?%I2EYF#9@9CZXU%M
M)'UEI)$)40NT=>TL<&1?'%)U=Z/"==`M#%2JM'9S$.\@BL>#7HM`KB*XAX/>
M^*0@UR9<JS<=CAH`^>\AT#=W1365J#$I<#UEB9JKUZ>]7K<_/,CB55`R[1=,
MIMT7W\$8L*RJ:[\)HOC3G(:+?@V\W9+*5K2B?G\RR(N8PC([0%%?-QN,^\/A
M0:&H4AD`-Z`P`&Y_*&I31+\WM>IAA*9C?6'WS$]8<:[DSG1A3;N]`J/*+[,#
M%/7I8CCM%X;0-0U%!8Q,X;G)I&$H=J"+2;_0[V0+%/`15CD`,\'T%>?UXY\1
M<S[XJ:)T/0,!0_5"#8D0:]!;R96H"$&SL-=W(H])*K<.]"H2I#\M]E(Y$>CU
MA5]_-.U9#<$.:G_([`C,1O[O#_[UC%J)RG89J%JM5,HU0OG#P73%C;P#+(?;
M4>W[T)\6TK[:O:,JM-;K%UHWM6U+.QC!TJ5UZ"VMMJUHQJ-HK88UMZ[<%+3U
M941_,"I.^CX5N%6H8S3LG>YT:Q/S8+R2S]8`L)]#MK1=YZU(VQ7&--P"I8-&
M(Z1L#5:"*;O`<K@=[4#N6YE+FW94Y49,^RNQ\%;MJ+X$&%K;.%(S._K@@Y$1
M!V%3&A-<EVT:D[+DWO#5)_YA;^M]/AR`59Q65F_;[6P2OOJ4.1Z,&L6P5&2^
ML!ES[U&7:<;/,:BJN6<+-P5L?:H$\WJ;2#\6N)54[NYHFU`_'+@[Q90F*UGF
MM>&]]KS@`3OMO`_"CX'M`ZO]B-_%@!1Z:V;!/76N_#1_;3L8XUS'4<<UO2]Y
M_VE],`ZS$4O92,5\OG9N9`=_6#LW4I_M6)-SV$DECF1-6KF3'9C59-#P3O[T
M@<=Y[O\QY^^VZ^/W/OE9Z_.J=P)S[1T6N;<^]G!>-[T@_1P#&^3&KE8D,,[S
MYRT@-[##DLMRT!U:A:#+L7=8R8PZ-H@[W([N8"]*(>,(\WBQ2U2#:2'C0I%B
MR3H[@E(_YB['"AP:EBH5U[V#P5*_^GLP+DD5W@S+]2((8_?_*$/\T_R]ZP,C
M=OU;O/P1->3@0\V:T2L&A4AYU<6;!+HVM0V**L3)@:Z2DSNT3@YT_0RC;K<9
MJ*5Y_OA7Z,;L;?#@-T*^O7&Q6J>XS&Z`U&>`PZ)Q>@A`*KF^#P+'#O4PTZ+/
M:QLD>=KZX,>V?XNYNPUZUJ>]@H]S\YK[0UB;D*;%<SLNA-6ZK`PF1P6Q-O%-
M*0]N9PC7Y`VDW*[A7)=^OS==Z4M2$8!F0:_/]L;=::6<BR.#7BG?=U0@DE.!
M7C^\:0T+;8=W!_VS_<BK)>9K&A.!5.<?,&SX?;".5CO`<:"M5+@$VXK``0\S
MQARJ^R2-?V76S,ZQKGZO>'!E:^T,4`,<X)``5>']TT)J3K/PU%>AQ\/>2M>.
M>@#AO&STQGT*T??S:8ZMIAMJ[=3K3J<K+3RV+-P,J`U?LUT7KM2V:[3O$:WA
MSQ]H)N0ALF=[EK72W+`B!,W"OD.`8#!<:2[9`M"K52464Q%.!?LN`<M!KY(6
M6@%V*8F_!=<SN`\ADX.7/GLV35],IR\UP\2*Q%Y]_68AKR\]B[3>#LBK>#;[
MHW:<>?WB^$)!S.Z`ET]_^,Q"-W"*T?YFE.9QP<U4!X*FH:]-[)-NH>:W/=!7
MTN.JS"<Y#O`[5`86.S;O`CX?SXS#=5'K8<[[(/R<A+,[>.33O-__]."S,+IS
ME[+;1/3!_Y<=NIC8DC:@:*XK*5GO60N`)N`ZRD8;4'S)=N6@O4U"$,4<;]0!
M@2R*9N*+Q0JQ;:LV`F8#QR-Q\-EVG:9J&,?#-2U5Q"([P+`#`UWQ[C<+0Z5<
MT=&HF->V+Q#U_;OC<;$=<248*$SUQEZZ,0_?-Y1^W"W'2G&U?:#:XU:(R:>J
M(RSUCXGZG8:[2NZXX@ZQ$J4%S.;U&@6M6I!D>"38=F])7P.V*BP]E94BO^%-
MX$?P,M'KKF$:.PQ`M4FP-^P7J[EW!NB86ZM2(]X?G\G6ZOMDIU)U;'YK62LJ
MBBUBZF16'?D[J-,)W+5/_A>&0S5=&A`/[PWEKSA:)/I&?<9AEZ^]&O&6W_Y?
M+WZU-*+XT6._/IO#EWXQK.XR-KZY"Q89?[`'XTNPL'V3?V`:7V&/\U?&P@YO
M7?\7H_O*P&6N0`K=PJ_82,N=/S[[?V_C5_AF?*'Z\JL(A-4OQF09\T?LQ?+5
M_V.-NO3PS_B$_.;/2_KI_['ZXA][PED5I&]WS)@'F,N*0^^H>;L1)0MX#SP6
M&7/`%,%S3U,A%QPWY`LP;AX-C]TSS[!C6'X94[JET>^:!AZX\<+UC?@N2"(;
M6.7+7UJSXYI(X$<R8YZWM!V<1_;K,^!W^'NTM&?R=['<31`"T5_-X$#M902+
MRI]>&0^N$]_AEKH_O3(4L'"/S[)E<<50OHXZL\UL3Y+;31#'P2)[&B\5?<-I
M8._B)?GWYM[U0!/;$`S/>66(X[CB0,%&Y!J'``/.$8[;__59[]D&D-2K.6.H
M.KXR!$HDE*\]&[@%P&I$@><Z52'^B(2>`F75/+V2HQ(TH,)_N-/32"Q!8D\C
M\?R1V-=(/$<DTG#[MJ..?@QKB68X'SB/VS!(?`>U@"#\Q0AO;U[T^A-3_/]E
MF?C>A@10S0.N2_\"2CL@P'-])O[FPN^H+%U9KI^1D<?FJ$"Y?M4#X:IXB9I6
MBI1#7Q"5]'`K![^1ZH(AGO]15SSH%B]F(QI7Y[,1C:OSV<A%XJHAZ?W7G1NS
M32);V/6#R4^E.ERS0CJM>B5_%Y:]1B^LES4/74#<*P?XX#B7CI"?MBF3>06T
M#GD\WPVD:4V0:MV1H378_:#6$]8Q^</E$\Z^L!V4@@1PPWT.3A.2)B1-2&=$
M2%J4M4,/K./%*>YF==.]SG!%-9QT1LNXJ!MV.\/JVB'WJDF8N$.G)J)*`3WX
M/2JE5%K:<(+DQF/'NS\U03GPO=E$-\?DLYHL#D@6.XMC31V:.C1U/&GJ.`>1
M4J*!_4Q9-;F/=DC]6=6S>#+051PL*55+_"JW6CE%Z'_2_ZQNJIFLI8.!CNY`
MA.N#/_,2ASF&ZQL!KR/@G=P-F_<0H>PLJIPA<P!;ZX':ZV&=KA'=,7BD<ZC-
MIRE;_+^=WA"=HCEE>-H,BS@)O)=P2CKK3:=IZ*RW"T2BSGJ[`"3JK+>S1.*E
M9KUM\H6N.^`C9+0I-24ZK>T24CHTKLYUBQ>S$8VK\]G(1>)J!_&\;SA3S7#;
M=6=_V6%H^[7#D6E\_YBA_!.$ZD^:RG&ZK`V-58W5IX/5D3F8#C5"-4(/C]"&
MM(2MR>_GD?!^BM3`UB66'BP;L#=M)#!P\KP$316MR#'6Q*&)0Q/'$R:.]LN3
MAK2K\TLI5R(J>Z)()P$VF`2X_XW1N:$72!8Z<UA31[/."TT83X(PQI-1ZPFC
M1`=K)JF\=C_)PR>+-Y<:;LBT<`+']0U;]$SV,LVN%9GA35!*>SJJ1EE+U<H=
M5=^RF6BH:E%#54LW5-6IY<V!<>I<2)U:?G%(U*GE%X!$G5I^EDB\U-1RW5"U
M_2F)3R#K4N/J7+=X,1O1N#J?C5PDKAJ2WKJA:M,X?Z)=Z'J#,^I"]U0)1_?!
MU(2D"4D34GL(28NR=NB!YY?]=JT;JNYP?PZ:^%;[WN@,EB=`%CKQ35.'I@Y-
M'9<J4DHTL"??4/6`.7+M;I\ZV.WRZYPMG62@<[:>/!)USM8%(%'G;)TE$G7.
M5NMRMG3+T`M+6M"X.M<M7LQ&-*[.9R,7B:N&1'BMQ*U]^X3ND81US"#U.76K
MTTTE-58U5L\#JY8Y[=7UKVF$:H2>AX%_DJSNGNX:VJ8N;\-N=W]\M"#XKJFB
M%8FTFC@T<6CB>,+$T7YYTI"BM=4-TXYD:=TJM)7I;?M?$YWU>(%DH7-B-74T
MZ[S0A/$$"*-G#LZ`,$H4KR>?+GTPT#%PAW#))&HC3:!N28O1P^V\M[KSMK97
MY?_M](;H9LW9`=-FN.-9PONWGY/HZM:VE[^\M]WP7]B?]9JR_:]]1[%G?N<M
M6YU/_A>&50'`S>"!/P(_E+^^MB,W^H8LYAO`^MH+9M]_^\__0%[X-[G"-3:(
M19R_#\*WP(?C>>)=SV9@Z<41O):Y]SSE'H"$5WQA\U^?74>?YM@(]LKJ7?6M
M9T;BN_P/?WY]^\QPV,Q=V%Z$F?B_]0;=;C?;3K7%F@.Q=]6=7O6[&T&<-@#A
MZR1R?19%U[-_)V[D8FI@]#D,X!T+^P\6PTT,%NQC$$4Y(-^'P8(#:<'_XJ`B
MP%>]?F\RR4%=>?U&`;<4P*TJ@%M]RSH8W/)[[^S0!]*//K/PZYT=,KP#LYW.
M_3-]/U)W\>&/][`/8`#6QDULA.40>]F*B@U[Z?:;V\MG^Y$Z2'\+Z`WPE'@A
M0][U`;.6601XO9[/@8F!R-G_1ESUG_V&5-7-459]0`ZSE0IWY$?D_N*[WJ_/
M8A#1SXR?BX"\!1ET;\?N/?O@1_`,0?5WVT6N']SZ(%H`&GY5FF`OO6XO=Y(U
MEF\8\KK\I=\?'!QR9$:K7P=>5?'H_P?$L\,BT/I0W_J=.JO_3QHF?A/P*''Z
M>11_FG^U/93U^,GF6]`;CZOM?^TF#G,,)7@\Y#$,1MV&C^&::\^*ZO6&%V%R
M=4M69.ZH(PT+K*O::LW!6(DI3*T]8%PR]\<O\/';%.,93CZA3<:UV]V53'[O
M*R[3`%15CFQH[025/.&OS'>#\(^@*%<VG\LV6;+EK3L*6^6MQ04_@LC\-'\#
M5HH;O[=G2"R/7]@";A^:)T$8TG2*-S96[XHTF7*8_N>_X$WA[>,V#@`G/^@5
MX*L'Q.&V\!F,Z_C3`^QC*R.#;?S_V7O6WL:-)+\?</^!F)L`/H#VBI2H1S8;
MP+&=W=E+QH-YW.(^TF3+ZAV*K?!A6_GU5]5-4I1$R7R*I-6#(+8ELKNZWEU=
M735I?!6@\#S80Y)KV^:NGNDDP^3URPJN21L;NO[JJH[!M26]J+T]FR3>&&=!
M<-QPC_:9."ALGTQOAR@E_:*1L1'GO//6!FQ15R@R@>6!!2LH=@Q`&S3+[I>`
M6=\_^#Y&D0IC\\#F0YOH^G@6J\@C,VZ!=O="/(OZQ(YS]/]%@\5GXJ^(%6R]
M>^_>F/X"O`8_?H7'0VH#7S=T;:!%X%>%:D]3;U9_&V(L!_9=E-D"%#'0BN^7
MDXEK6Y>QH]T+0Y)S+3RP5=-2,KR"L9%C%8=AV%L$6&\ZIQ;0]E/H60O03TA5
M&J`_F>CAW^'_RW!YO<2(D?@^V%G/CE&X"Q:FRYP\RG.D&<-MTE2`:4NF_ADZ
MZ_OYG"!B\FK^)#;YP5V%@<^O@@_S..C#X32EGM)3%X5I<FJ8OI!5P$<[&;+`
M8DXW@.W-7PJZ^M!6!+IDDM\WK<9027YSV8-//!Y8%?-'*G0=RZ(?[S/6_/W&
M<7ZI:?IF5;7!W1HVAK!3Z"PV]HXZ7AT8'1K7XD$WT-B?MPX[DCF^D"!PHG9V
M36-HN*V5FUM)ZS@;I7`VKBAC^M0X%[35IW!G.YO"TR'MDT=`J<,^C7M+M_2)
MVL2U,18NHACVOT,_R"MOKT<9+F>C[9.Y_//7"WFAK5<$^;@FR+?.P*Z?3.KP
MLUR6VDXLF&/#WON6.N&NHUD:]1KL=;=WZ84!:60EA4DQTB:C>M?Q+UX.AMC7
M3\0S'\G'4+@[?#-T#U(6F*X=294%!"Y-E@-;L]E83Q_7E8.FN34=)]"A;;0V
MU*=UK8G[*#?,Y7GL0-HOJ.=X@)H_2)^(@.(C@YV0ZX,D>A@9B4;AW]6V,.X6
M)(Y3-:#J,F'^`<6_[TIN!YHK;!%FNE:+R3H*>FOXJ6S1QZ-9/7Y09_%3S;G6
MIB/];>.GFB-M&)/3HV<394(W!L]KX3T"@]5Z6E5PE@/.S6NS_,;<QZ_$6]Z2
MA^"FPE$N$F.R$SO-&+OD](,\TP^GVF#:$`"Y7$<#`#7R`L#-8A0E2)TDET9^
M8FD.#%QBWER+3C1X??/&5C<^3!"!ZWLK8*`/D!MRY8/HXY.`=4LL#@T^D"]H
M6#N^8BM<"5^CX4F@*HHN8]HTMC0!&$:]\=M\(2^C(5E+H-*+0S5-1Z,;)&$2
MZ,X+V':<_!7(TD?B-UBR/("=D/-M]URL2(;,<**EF.CP!!7@R'4F9QBC01$X
M8BL29P2`[/"?L#E*DFBR4N/KB8/LID(6A:*)510/1^VF199=A4WHCW?@@F%^
M7A(MB8[L-_OR;-9`+AWF2`@8C<83?308__27?+.E8;ME%L_M^[I>Y4Z$_?G+
MI2;F2K^]2[<X6?#>_0![^".QPD%JBEP.&SRC[40+,R?+@LC'IP`;[MT+^L4A
M]1?X[/T<7:UZH-,U8[8'W-%Y=P']3)CW:+KT3[['^`!:LQ[$[1V%9TRTG\WZ
M$#`OX\%;ZEO`68^HC!R3+G.(86&`-6TVVO'-R\*SI:3CK)Y[-Q5@PI$_F=3&
M?1\7G-<U29[=Q6"2<BCS3?QJ5GW]$F6,=\+O1Z;,T-!1<!CGOX/'@_7O)%@P
MNVXX9_IT5RN_/G.!.PH?":8=F?XB^B9'O#8/=F>:-CF.W2,@U`U^">:8C6:C
M^N#WF$6(S2F&Z>F_FP'&==<\6.$XQ.)QE?MYW;RC37=SQDM`LA=L@87>4OR:
MV#C,+=G<#(67:\+_8#3=ELY7IMU-2L3'/RQ7)B;5_6*ZW[UP%5CKNQ=:D\73
MAH/4ON;HA,>X84<EU@+;T-B[Y'1XQGT[O(H8_7Z>3@"M1RN`%Z/O6./LZ0YI
M`.$\X.8*[U[BA8^:K($^&\PRY3UCQF,$32^(G]K61E9#FPP/4C5SVF.T32?T
M'@*Q.'UWU<VQ&:M"5T9F=:,X?'%NM&."KSW?W9*OOS)A@[^M6)*P"^H@3F9*
MWLBQ2<OE'491_+J@RN#E%:B'-4_7!ZN`PZP00^AK.@P/"I(KXGE7]//6;?KD
MCOPJR%^K(`9+@>V<0F*8>$T"BA9!87->I&#.\%XV;B\O>-D"%OKPAO_?&<U1
MCMWX+P5CZ19UZ99TNRWK"I<@2'6L>[=5+Z1,@[J#I>=.4I3FQ+,F[97&NYT!
M8P`>1/4_7HLFJO_'9WZM`5->F..([P;VH:;F!=]ESYZY^ML[\?/=421VK@53
M8>9KH_]7^X!D=``[,8NB6N\?1TIZ'J%G[@*+1>C9O3JD_W7'_QW3-)'MG.1O
M"Q#=1,3@'WHF*_2:-OY)07Y,ZN>?KBE!PRT(M-U>`,7*^(VGZF`XKLB>'<;J
MFZ??6-7U60?I5Y-*>3Y4VC@GI+^!SLB)G:8XJFE.K5"J$7:Z)5FG;\B21&C9
M`<@)*X^L;<R[JCR1!;6<R/C/0\^E0>@1R4W9,X[4F39MG9O.G@CCH=$Z$9HV
MP+7L3?".1>"%_$P,JZ"N//;H$;]J?X#3!,]>VT>V#D`%QW*H#O6RBN2L0IIG
MP`NZ.C3*ZK.W$\'HFQGKK'G4)E-U:NBM&\BS)X.A3J9E0P>=D]QF_91KRPJ7
M(3^]5FRR\H@E;FI)V]2R;;K09JI>VMNNA2Z5FXA*)JC*!&-UJ@V[R0/-.R:'
M%C!LP=D^Q9R9C*1?Z9OV-4V%[%^?N4HHWYBI8VU2,Q=+)N@7$XRGZFQ2]3RN
M68)D:+1Z>B=MI81M(Q'+\M#YNHY5U-R&IC*LMVEW$B$B+ROB^D15*.\:A)EV
MU';`\9PG)^&J\FSZRGM-4R?Z2!T,!CPZ_GZJ&L,Q_W/./)ZLMR:FYRO$Q=Y#
M<>J3,M14!9-,^$N8G:`JGJB.2I^(L[[B4-R[),[X^P3SSJFE1.4Q%9ZXZ',0
M!&!F<&3P*^4KMC8R/6^-2WG"&@:^&)KZ\9K62H"M0F&L]_I,G8E%<3CXPH8Z
M_BT6>FRNG87PF6_8<F6ZHI0O=7'N@&U\>((K](EB\MMV_/W0"3C.W6U//T6:
MN%^3^?CHD4<<!);S7E<UP]@00U,-T.C5B9'-P%LYRKG32??OV`2F^XB)ZN*V
M86T9J&T(TF8Q@G&2DO&-Y*_V0*WU/OVU,QEKS<V:D9Z6%Q55<M*^^60>.DWL
MF#I#LW:R#+5!MS*;8SAE4NFYD;N1G-->9;6?GC/;8$']W<'9J_#7;W2>-\OF
M$`>=/?Z;FUUBO'Z.3YWQ2#*T1P;L7/<+8]\E#:3RZ1?&I?+I/1EZH'QJ=I+;
MWTQU!I#VKPI>_!^&B',G%'1GYR9)>@CFOWLL?SJS)&CW"7J]9*!C_RR4_B7I
MVGVZ\N+JDJ#=(NC)-S'M(ZXS@+0ODE+5ODVZ-J9JN[O-*DW?C\R]C.0`EIN1
MI'#:6P<IYCF5:FYJ'HDCB2.)(XFC<\)1^Z<%?<9>_W!4PHMIYEKL_U"7>(]K
M)?!,F[CFLNT*'OTF:Z>NKA:]0%'A'OIX(HN;M(/[:`&&)IE?,K_$O<2]5#QG
M0H!N,']-CNRK52)*;XQDC.X-"MGIJ[)(2DA*2$I(2DA*=`)CDA)=P9BD1!>B
MO?%@\1WP:>Z2\3>A#],13_&P"1BV0%S05=$ZKQTN_U]UILD/53(J*M_V?,.8
M/=U,LRJM'$;J9%3UBO8;QFU/J'@Q5/7*-^T++[EH"4))O0-J5#6&4I-V8":I
M2=_"3-4TJ:Y.AE7+(4I-VA+UL&#;J(,R6-,6J=EJT[L%]XHFS=0"1%\J:!V;
MM5+;QHK<VR$T-#[K6RXN/1UTO7NGY(33<,*%8;3*"K+0?-L<H+?+`%(7=(83
MI%60G!!9!:U=5I!6H6T.F'1>%]2TZRW7A"3"+'5A#QO\J%P.KG2#NGE7]Q7K
MPBLTJ>V=5&IW2='F[^?2&^,P#5HYW^X8*MK1-/UO33)5=:UJHWG)`KUF@8NA
M.AG774:\`#VJNCJ2]!7.U$9&W?V`I?3WB@6D`3A[%KC0U6GE,UEI`/I(>D,=
M3NL^$I-]Z5*KZ%RS*7B$QK^$^$M4PX&#]W7K2#I,5L'?4.)+FP!!N@6;1RQD
M45LQ-T?:HB$<[R'WGE\UY"W3J*OH@\$8-OO*RO0"[-U%`U\QK3]"ZE-,'\:/
M(H!$P[KT1#8)B+>$;VTE6,#(V/=KKP*%LH#135?!P,2<NC0@BD/GA#=B@Q<\
M,F<>417/Q#]P'%=Y(-@WS!17_8BM*L_4<>!3P#.V&.-PF*X;FHZSYFW?*,!#
M/>S&MMV,SJ8H)$&$$04_VCRJ,/<`Q+DZR4501-WW>L!HO1:*.*^=P_=Y+[<]
MW)&'E)!D2H:5F2:?%A*>W2;:#)83#F1[8%?0C-1?<&$,>3<PP?W8)8^X$8=%
M_.:3`W!)[FJ8NZ),(`Y>G`V4H7H+,-@!U3N-VVL>Y2G\B#T#7R'U.5`44VJ`
MFU!C(X8^W2G_8(YM,15SI*R%X!?1=!/?!F1])[R_)FHHP*;Y2+C.,Q\]PG_S
M0:D&B]VFHZKRP;6V=2CP,0?A."\_LRU>IOY>+%DR<:VP;A5MY?2)FJ8"LAEO
MN6H+"N_%]#<]8&?IKK;&9/1J&]4-@DKV4^T0`OM$;)1'42V!V)?F$_%`G#ED
MH9MX21M97)`,HH-$ZE<S055)G=JI@])G);YI2C:56"Z%10>-#"HZ?@#IDT$J
M>,D$G1[1TB-+$_QF>'/.0B^22W,.!B&KO;$G&$,VW>U.T]W<A_+U$J!8'BYO
MB9(L`/_=H>H_1HSXP;9!3ZQ3&BALTWD`]L+QK,I)SK44$RV66E&X!'SHYC[H
M[T]ZQ3&QC&1]7.U*,&C=W/&Z[8GU*A<_JMXZT7/?]B@:'HTGV$5KL5P?O:9;
M+?G7>7H&K,1TPX)D.1VG-<W!Y0]7)V69ZFVR4&YL2!9ZPRQ4_XVN@684I$<'
M'*ZBOGI;`%2Y=C^H.[6DXQY>9H9F_*%#YK!1F57C,YXV6Y'9]_)&VV3U_I^@
M:^ID6G>B^`E/T'_Z2^A?/IKFZL</26#HFL>%;JEO.<P//?(5</.+PZSO/__G
M?^!B?HI?^4R8]VBZ4>CI&VS@O9N%N0)NTK3[^;<OOYCN=R]<!=;ZAMDD8T#8
M=[J(^<]D_K=WOWILB4&ERP'^%S#^NZ9?#K5W/R/0'3O$^;M)122<N<IFH<K=
M"Q4;VR.GY_?B)/AN/A<!;.76#(C*/XN/02QB^GC.S?!DAG_SR3$!PGM^3H,'
M.O#96B%+XCW"<W/`G?*00"&.!Z_A.0R3ATZP/;A'ENR)GZ)'<4(\8Q'!0#97
MWFL30QU,!DFLWJ'F`W5H0(GX7I^-U%%TI,\GQB,@H"0W&'RP.75-UZ*@JQ`.
M/X`/^2&0&H&#T47J`G0N"91'0"0>CF_`5P@@48"BS=31@$\EH\@-,_2V-',H
M;Y@?^*]Q\P<@I(7GD$!R(@Z!D+%^C7E`N89O0Y<3_0OH&-OT;%_YA<&/:)31
M^*]^]E.@-_"\4(2VIX:N)LBC^R#[&_B0T9Z(&R+JHH@X9S[`%9Y=(,OY@K>9
MS[_"WU<>>Z(^#L1/I<17(M7$XFDBBDT]D%AGG3KUX@`EB_:V`.*CXCFJ%UI!
MZ.'2HB#[0^A3E_B^L@2JX<@>63$/1<<G*].#@?DDN^-1D",>L,<Q-F(EU-!<
M82OB"4Q<*;=BOOAH[4!:R4#=URW)H3+@8PXPPGA`Q#DA`F.,)\ZDP8)O+<XH
M"$:"HEBQ@`K+P`P*]TC5C.$QT=X8I\J69M=T?7`MMB1?S9=>6R4\"N**.\D.
MBG7U6EF28,%L/(@+(TMB"@D3*4Q\_4I@OA!@%HY0<8XN7E,5F\R)Y^&+YDML
M'':-@>D1SBV/+DH5AX$?Y\(;%KQ*HU?B(]YY"$)`Q-?`H^2/D(#&@&>"P*,/
MH3AC`3A!Y&%N\=T#"9X)$0R?6)4-ZX-@>MXZ2M\*4Z(`%L07"0D'0!?I8%1`
M^P#&%F4FYYJ78)Q#?`ZE^!%$R[2"Z"T473\Y(+<B`3!7*Y`(E`3S)3J%X^B/
M)%F<L<$?(KD"".!C\MD25(+IK;?P@=.G1WX0%(#-"OP->`:8`X?8D0/`<T$B
M5>0X[)EK:)H2<1@!7@SA4X1C%YDHI5E\$+H.ZBZPT<@PS,,4N^^HL7@Z'6;`
MH=+D((BU1._%>76Q'I8FO79M$+EX0A:I@QRSXYH1$'5^]S)6`$`.D$L7TW`X
M:^`?^+43VOBZ@]K=0U8,@$/X\"@'T\$/R&^<^I@\9"L/Z[23*302T)S``,)=
M3;Y*67VP,9<PLJGX"V1M-(_;(L(=S!4PT&6P\%CXN`!Q"X0HI@0FE3_$')LG
M@&9G-%VA<Q&DURUD"G%EHQ>ZC2X55_S`4TZY<`G;C/H"4&43<"QL;M6%'*.8
M@[."T#OFLY^<P0M)8%MPHEY!!>F'#SZUJ>G!BGH@#[L\EF@2EVW\IST+DR_%
M59'IK<WD;G%]#Y83[%CBVD>.Z"%;^PTSIVTA+#ZWMV'`P!9EJ0^4B,B>*B39
MTVZ^\@5G(,TC@Y<6L9TMHK+EQZ*!,9%]T'KY,J^DS;R2LRAMDB1"C-MJH[Z=
M&7.WIRJ;B*DWVZG^-"=(3:Z@JX"42MNIE5OYU93><:2DYQ%ZRK(W.TD]D_Q9
M/5\21PE=GX+\]X:K#FM:M?+[QM7@AXIL*8M&2_*=IEIT`5U!MK;)O/P5;H#B
M7=8#<<F<YDV4;8H9FF:R"HQU5;9T1<TZX/Q0/VH/]<T[`'DE&$,=S%6&4UV$
MT?E?`5,^WO\F@ND8F)<L=$AZU:D^D1+<$OKC$_P.M.#NB$&^69CN(S^4RS@V
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M"_I,J?MB&:;]M`':%$\T-D?/@^/]QE$)%J^<$II1VB7OBCYBEI>XXP)>.=XS
M%]DB<^8]XZWX8@JVPWF')8OY54LW'`[4\;2JK>PP4M\X^;312)WF+Q9W0OK5
MI&5RGY45UBLWYHIB7]6-1I'Y9X=GG*H%REKVW+QWE@@352M=/JMSDEW@N*BP
M;/.4ELL'7A5*)K:\/N-(*]O1KF^HZBP)ANIH-&Z=")VWVK?$HT\F/_*E+M:*
M$O?@L:?.9<`N16\=R6,'XR^M<]B9D^#M)9(W:<=OF,L!P;,AE\4G;[#M]TPW
MJK4G>:S+/';FE!BIAOYF'/;FC#I/6<6*>UY(MH[B)5\="/OH<B_>MB\U;-^7
MZH$%_Y6^)/62)2L=D&9#[KZER]2)2R85SNGDO9/:`*AR(#0NJTO.*O'E##A!
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M8_H^G5-1"'BK[J]BRFRG'C"2I$17*-$9DYPD+VXJ?L<-:94+*X2OW"`ZENU)
M'+VH4_@6[MY)`KP->6XVQR)#UHFO7#@,!@R(M]ST,Y#QL5H`Z-IN4L9()0]T
M*T):KO=6XT258;$S"(M)TI\MZ3.TEVRA51[6:V7%/%ZG%L%A<]XEZH8M5Z:[
MCM8Q&O_55]SC)?%]Y9DZ#FP_%3]\^#=OHL5$`RX?QN9-JG!@?MAE/L/O9@`N
MZQ)VJOAQZ!-\`D<E/@<$W-R0^[L/:\7D]70!'AB0,@]'QI>PAY5B@;DRJ:NP
M9Y=X_H*N%(LWB8<9+1CA2OG@*M?PFJ-@?Q8UO3J%O,!Z*#;WLG&.I+E\,A:'
MA(-*71I0WC/+!$P\"]!%<@)S#Z$L;C`&\.(":9"%11(U]!(-PY2#!."PO$H$
M#NPS"QU[AQ0P*("P`1OH90*$*R#1"UW"RIRU\GXX&8#4C]7!8*#`..G^2!Q]
M5]UGYSZ)WFU((M)$Q$WSE0J<YL.H=`[>&`P326G$($#+?`()/$X]HGCD$3YS
MB,\E\7E!>/6[-*<A!(_$):+9W#P,0H^+*^^1)C:=5\KU'/::,)@=6E%'O3R`
MS)F8*F)QV"A;BS1TZAX@"]-6Y@2LF^F\/CPVU=OFX\E,'0\,P<:N#7P]'JNS
MT10_4/DGO&G?JR/'&G%W])$ZFTS2H\_4X6@6C9XA-OPQ[$.D`NK\E>@>ZZRE
M--4*Z]>8&079CG%,)!1`JR<3+$KH<UN"'1X!%A=?`BL`!-.%:MXOTI*P]&N&
MDL.2`4&*338X3OC%9@",RX*X>Z/R'KRQB=#+0GH\XG"((U.8BOSZ""&SA+%Z
MIL%B4[H684%6=)E[B1(0!LQ;`ZS"'I`7XEG4%R:7+%<.6Q,DU))#F5CP!P8+
MX!S-4(?X"NP((U42(Q.@)BXOE[UR3%?8-Y\#R4%(`(T]!H]8#!3=G^)PRL<Z
M^@OFP*C^!J\*^2-$6PIH%9K+=..6EDD'3@YCA'I<T4,8<"R"T@'[CX^BO6=Q
ME\P(E4*)Q?TZ;6)YQ/3C`-O*7*,"E*):*ZS@DZ$8^7XL(6F#E%$2B7=S!;(X
M]$^D!IK&)?/0G?F.&IDSP_^W]ZV];2/)HM\O</X#$60`!Z`U>LN:S"S@.,FN
M]\[$.7%FYYY/!Q35LKFA22T?=OSO;SVZR>9#$B51KYB#/0>.)+*KZUW5U55(
M:.`$;XKLZ9!KXSIB"@[@##PO_&0J,%'J>/AJ\NGH4WP12VGN9?2;,F"(;?$7
M$P64F")(C\5Z5>,!$(._$R&&*$YXCQ[DG85MY#.;94\S68/U3NQ&9'34UI7]
M+P.*]C<7--'<B.?2*94&73Y7:M2-:1Q(6TY`L(B@$*?RH:N41;-Q^5WH&5#K
M[);QA^59=R27-'3607EF>;4!"[$+[PK$(WP(-CX_PC97$V=B)(&>+#Q3O@DU
M9A<5#BGP,$)'YLZA$;C`NM]XCTXH.0_A:J2ZYD@RD0`V-8D4W%O((<++B('4
MWFG<\YIKBU/'2I:9+@Q'%OA5)@U;9D9:$IPE;*`LF^0LI6<X=H/O5(A9(G8M
MXZ-T!)Z%!>R-\C?-`$I0Y(#58U"T?<&4XLK$]$C,E.D31%.GVS-[PX[F@+;-
MX5#ZGQD'D[3((J+XI3M"1<+.!4W$ECA)Y7J!_)-;L<I1/Q/?P9T)`3;E69>%
MPP7_Q8$EPQ114W#=;!R1#>"Q4_"&W+%46RG<(MN!ZE$#L!-U+^V&BNXU=<^^
M`"]8IN85:0`2QT,<V'X<<.XB]3L:M5*O6M%<901(2;^9HS7ZM6@.6(:`(71Y
MBKV,DYDOETAC5)1CG(%NH22!`4;2QIY2`<J%G?NAPSYF9'T3Y(E:,CD%_U.E
M%VQ*20J!Z3#?`A"JCO,.#K$%?8@/@-VV7!H#3Z)'ILHG^)*EZ5MK`2I:QI_Z
M_K+10$!C+"C994NI+L42RIID;P^H941/P@47_@$H<G]B/'U"W/TUE_D`%:5E
M[31.E:3YTW.0B+<1IVEDCN3?X,.%4\=F:P&Z6(5BG.C0OV9=C:K105]1U@1&
MR;L2_RL0H/J]Q+/B?X8<H15?.A%@5U!PE(T=O7VP_NVKZ+9_\9;>,@.KZMTE
M(6'F'>!#8SD#*WWECK)=!92",@85ZR%6K'CJ1%K<2:Z^3>X@A[6"(L%,+@W#
M?91R-']E]8['QA=K\C`=@("GXN*,8,S-_?:J_8K^+<]@Z-]K[T<-Z6RW?TJ/
M>9>?%T?^?-F)L'SCH*TFD$[1KA.5?F&2`H.(;09^_U/CJ35/U'8/W%>0@?]!
MEJ[G<'X%LC>'LY8"S]J77!<W&U8M;+Z'CU*'[@MGW7;[0FG<`2B<I</NZ\#>
MRB*WS?=R!4^!%^8YUC[1-]HK^G;*?%>XAC6MVNOP!-&W0^Z[GEKW>\7<?N5V
MIXSW24P"*_RV5[E=W/KDR!GM)A!W:SLF#:?Q;OYR0LHE[Q5_.1VW'NLUI4F;
MP_H/_PD/"$QY:FA;6$532/J4IA`A:+4#,<6X%G.0&./*-"0%L/A:/G;`U^6B
M4#YTE6<B,N`F$')!-RZ2.BWYMZB4$2<3K2@*G$G,81J$L#8`*C,U'.%B@,I1
MKA;^6U/$&.6H)YP>T$)=>!9AM.+HW@_HF`3@!5&\NP?(]$=E*DF!((HH@5]0
M;$V@+$KU_/IS')[?6=;\EVO*2D`H\Q[$$382!^(K4/F=Z]O?_O9?_P?%[U?U
MV\^!S#'3>/3D9YB71<[X(F:_O?H8^`^8QCIOX_\BG_[N=,][G5=_.S@3YA,T
MF#D9FJ->W[SH#2@HQ"H=RE:']T!%KD=AHF`R#KDD]IPPQ*3?7&&#3[E-F;1^
ML)XQRZR]"I^2S\C$#V?B]4,-1?GGQ45CQCLZK8?OWU/6W`?R&I<$8N$TI9A/
MI64I8X*,ED+'*=#L5GZ\E,IA886?..J/&/_`)61MY*612)5!8D5;B)/-T(.Z
MT?J:.Q31V+-C#B_Z9F\TT+B7ES(NC:OX(79Y\/D74'KB@12//B`Y`40J2!3M
MLS0%F+PI#W"2%7QC<K[/\SUA^'%$1_BDUY8=^+6,VR*T9;#0J0[J5IN!YL2[
MKVUV@>"`AGOP93$*GU.3(EU/WLL$Y;0RZ4</ZY]SRGBKY'D8X]DFJ[)%S"?K
M8P/+^P:>@(>'-J!C7><_L3.UD@SZU'G$!+G2V7S,*<NM%O(+0<%DIL$#LFYJ
M!218'^)%3N3RZ<Q_8@L8-7"?#3N5/P5.4I)$9T[P*G0>X$_;"N_I(WG,RZ?J
M`M[EXCL'/^%I%'SKQ0^*Z^=Q8-_CR<\\<&RJC6*.5M\O@IJ/E>_3[97_6)-"
MWN:]]:CD$&O"^3Y"*$NK7=@NGN8^6J[R69YT,<W((Q[6"0L,9P+O(EC9=]1<
M*AO8"S@R>`9<1,[4<6.F>.(N@8&\DJX;GJ3+\Q')6-JIL#P>))0O>A'BB;>@
M#KQ7<(+EAGZN<!OVBO7I&MZ2ZAZJ<"?.)!UD1,#2H<6'0%HA.$.JBMZH;@[8
MRP/&P!(9?%0>]4CN7DE9"3)\WP6^`EK@H3KX%?)D$\ON8F]N.5.-:QEDYHE%
M+T1:1K1_>EAQ=2Q%7,?!*A8]?L5U2DI6D_>*C$RR;F64:JI'#?]1GMSE6&V5
M'4X5!)]2^EOI,6/NQB$QECJ39]M=RKE+%1SP?F:KB5I'GXF5.LEJ*KKW$,@)
M*E1#W9;H)/`S0'%D0E"4:5B/)!S/0`-4#N@EL=)413W+4&C-'>QOS3CT`U7I
M@W\9#R*X@Q";2O3PRJL\+V4$BN]\*0;+BOS@SO*2(L2`JW]UE<.<`>`QHDBM
MR#JB]$<FX)=N(6B4'PZ-[L^]GU:2Z]$';67-9D[P8'&!$ZJ(F?7H$W9\KHD@
MN)Z<D$Q-*&U)&&-I4`I&HQ_V%ZV\JS5:&5RTS=&X78Q6"LO(P&+<Q;L?79+M
MCMD?#,QQM\^<4C7:R%?5%6*/PMJKXPY9?+:[V".?:VA8OG:3N(S)*;P(ZXXO
MC$6QQ0(@2(G7%UH8^;!BU&JWM<A".0=K6.4"S&_!-'#:-W=]L>0VZ>\BPOMH
MEW>!X$)S$!`[<";2-E--DLG*/]WD@_5,U[3(@YYK=^H4VDW=`\7J&?P-VL_5
M8D^%QVE$HV?K=/IC2>Y*1!3"K(6K+G6V&(8-':Y%L=GKSK@U:%<G*B="-G"W
M2K"2<[7D':+5GI9BSJ7>%MZE6N%Q&9JWM="URJ`WXVD1&-M[6\86GI8NI@N9
M:J6W991X6FCU\KX6[BZMI(Y`K:@4,I79:L1L94P_2*\#%`JUM^J$9^*1AI.5
MJW38`YHZ\/EL!L$3,ZSWID+PM`-BM$IWK[J%EO@[K=2#.7Z3E7II63M[(N"7
M!*%+&7C-=%.[U>^MFV\J9Q]F8WUEY%@C6]E;)0]UG9H?<^'/6)(X<\*J3QX8
MD8`DUQH2L2+O,%37*4,!3\@[5JD:!!P#9L@Y2'^@7%F'/83D]H7V$X+ES&=7
M(3Q/?5_2C.?:#5,K=,(W9(8MZ2"0KJ+;&%$6>_PU?$AE]F(V`PSJJ;5RTZAE
M'ZGV%Q-K.\BJ&4LS:GJ6HCRK5F3;?%;M*QW"Y:%U0IDI8X\C`3[/=4K/@O*+
M)-?@G<@*J;K%$*Z=IM.S?D5I.7[-<VIQ27FJ;H&)C_P[OGM+UAAOY&(A.1K+
MI!!_7:^1;ZP9+#.A$@(T_G199O*\Z"VZT6T9'\HR_,5=R/@FU"#EB`&"`MHB
M<G22)@-G)J*+J`00?CU%>"5,.@"YW;:,3WZ$&$ER!GP\CN5<\"\SCZC5*FDV
MXPMM$#B)`"]KI#8!0IV(\PUZU$/TD*D(LB'RG$(BFK43UA+XGDL%!=2XXI%O
M].>8`OQ1O)ZA50^L#F\:4:W[%CQ6DYGY5)!!!6HJ8Y2/<24;_/Z,+"]O`_W^
M^Y5^ZJY_IYVTITT;DN`\:=]`=2A%0+Y#'!F&P$Q/EO,H[PE)/RJ]?H/'9=2E
MADW?>YFD(I;,W&=;9E3@^P?0#@1"FAJQGGG+:P?BE'`1,7ER:)R*KT0L^G$D
M,PN8I'D":8B$EP1H\FIP!M,RKBB@L1&-'2>4OX@[A^[TJY.&+\R&B5QH6>6R
M\"9-+X/8`74]8<O\@;1Q(40"2&YD\<4IY85B:A%0@0:E$A0KR4X5!)>]N^4/
M)9X>>[YH$M)^)EE3M=3/,A7O.@&%]2[>L,8[=VCVL81W;F+C,\T/[[1_2B,?
M923X[9QBUD.&?/T#8X7+VRAV7Q*GR>8`2;A0!2UD%J<J.Y#B@0U]P;@MQDI^
M"\;6X+-"1SL\%0^(=*I&+12OPOMYBYAJ\B1E)N+><O/V.`N80CV6)&`H1A>7
MI>$'-E&?$Q#DDQ>/S0L>/0(9*MU(W3B2:("R*!R`RCA#A7'J;2KYI/H,&6>V
M[[I)-X;$JJ0&2@DS@G^;1H^IJ<IF@J@E`<2:`2?XO@DQ9Z)D6"1I`U20%,Y(
M@:I*LDYI!J\<%"['!:9"[&HO47R&N+8>+9;"AQ`O2A.EOL3PFDZ_3W*#&H4_
M3=>0(IJLHZQ09B>I:=5^>6D383KC7H^%]H&:362SQ/E\/];02";45PA58OJC
M'SP8M^<=F8JE&[/88J'D$2/]>>^M$C_@PR1;7Y)IH*2?/P$3H/I),&G2ICND
M:+#TKV1)?46.LR&VQ'S-U`JH5#F3(4FZ0I:\2&D/Y7%KJI/%)$'X4J63]?'S
MN$[1ES+ZW+F[>\8[$MHUZ)(EY'5H-B&\J'QS9L6G>Q^8TA"N]/\G0C4(HRB\
M7!J4^0"-SX&`3J)\1$%N3<&2$1,7DCTE,AK.\7(&BA+R/TJ9[8>1S%"G[S.Y
M\@+;#H`_1S\7+"G(":ZXD[?0;3\&+\Q->C-(/*BJ:7I(M3=`WOIN"]CBZRYW
M_IM3I\)TU4K&EM&IA6(2&>@'PP^L]`:]U':4@.>$R=P*2$0G?I3M0Z*<QH1S
M$C\\C?BP-96\M^![S-&-4[G;2OZDHTSNI%Q/A6&[';,[U'I)XMQM;OZHMPPI
M:_VSO/<C%7)7K<1??F(&0([,7H>`7'U[8\&-C/S%C?1NQ\T,01%>2-S_A:W]
M%0HV%4*\PPSD9QE6;7G!(T/L#>A*WA@:/:FMTDZ$MK8%;DOX"_B]$'_WI0]T
M,T]"B\^NQ6?T](.A_,%U\B[\?DW9W&ACIR1<Q8@-<:NEO!B_A+LJ!4`%RAA,
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M)6_?I9]HB8O8<[`HA/^!&72!S>A2=U')M!:/6TD//';KZ)MS/IJS9&/V=72%
M*J5=H2^,;70%N#6=OMF]&"S2%B?`82<M#6EA%*NJ<)4$@/:^C.^PH:RNN>1'
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M["\YGDA8XJU&!'"^Z(M!2^[P;=JR\-''4R3LQZJ.+P?#UNBGMX2ZP`F_`3:$
M2%LJJBJ,;FO0_JFP%24J6^R#ZQFUO?0&Z^_%4/NHN`T]SE%KL:DH>SE3>RXP
MRT`/J72CK)1SO"D@(VBF$-0+ZVW\`"]S1*9&C;H2DFY95/2@*I$I,D5M4I87
M2#Q5=C5FR:@;G%FSR"]>=M&`5TL:@/NAT+I1I.T2C3,J*?/C$%X<)IY_3M&_
M^?%:`!Q/5T6>H+6LJ<YA1CCN>57;1TIXO[WJ]!.\KQ[B2$L_"?3>$9/N=)L.
MCMR]4<'UH=CPN^)6UAGY6+*%0W55W)`1=[N#8P4D8=?AH;@5S<;I<61#SR7T
M7-R^[6CIV6B8G7-DMS)')L#4ZXFMV>P7?C+!/S[%E)7%'4Z2O2[PRPSYW]$`
M+\N-%%Q\+WCU7DY!9'\@AJ]9!?]%[Y$I8X3L$IL)W@GC@XJ',),B3D]+_T`D
M;W1<H^,:AC\8SQ14I*8F3U0,/NB97P5=JNCW(`O'ZX_+?%:__U-5&&^RK5?2
MN:O^C#*0:XJL2JA57G]CY;#_E3H_9?F7#J&KKKYU\/\C8[;R2J\/0;K!J'71
M;:AW!"LU$GCPE1H)W,YZ;SBH88$KK#YVQ0S\L3%^1$AV:/KP+\;YN+JW<LV-
MDFMPT7?.M95]\$,!L`6O=]OC+3G]19P_ULP)ZZJU'3)`>WM=UW#`CZ$+5,EA
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MS!OD.JHJO],JKOZ"=_XS9<C^C+`S2?"TP$JIWQ_-5A8753<W#)H;!LLXYZ2O
MU.3-;</F#9NO?Y'&.%'N_R(>+"<9R*B#=X*;N8+O`LN.8MFR6@'X.W:`.GL.
MPC>-A#<2OJ&$GZA,'/ZJ7",+APDXI5?V0\2;/Q"5&XWWPVN\XTZT[$P8<BC:
MU3K[$.8&1PV.&APU.&IP=&C#)9](KNZF%UXW,KF;WEV^6+3P5K?\>H-S[+R]
MI3]>%VZVOT%^!``<O`I>P=*K`,Q![P@?$]5>.`"]'6B7<6O0<,BQ`+"IV=D%
M8]1PN?R'H4MC<0YP\?B8B/?"`=B%?CE%/MD@6JFSB\^NS$C=I!V,6J/!^>"B
MM9N^YX<Y,-CYJ@<W$,W%W.-@A"-:=:MK^8-10_3]K'H$"O_H[UT?$[$;5=\P
M0B/U!SH8;VX=;@ZK-N.T>.<P6C;]$(>".UX4.%[HV/K@UD&;1M;RZ%;3R,QL
M/7Z$G!+Q\"?9<<9?LK.T>;HQ@KYBIG=F5#$-8+4A^+4<3YM\C01-AF-K$XGS
M$[VSD^`+H\(),!H7/H\#G-I-T^L++['N`B$>X)&P95P:(0WTI&&ML8>S?N%W
MQ4>0RW#JJA-F+L*67W\]?NK^@)=>3]<VO\`:P5PA*?YWLI?<FHDY35'L2B;Y
M`8MB_XX&/0/:>RLZU<U\M)RL.OH7>IW[$NJ3/':0YGO4K3S[X$_E7Q7=_^JE
M)_F3G/V=K.UMI:VF6O2W/4?YD3%[Y`-)AJUA[PBI5Y-.6=AVNR*D:XT2V15'
M[9I3-V>>B\&&K'-JJ-J1"&^,^8O6QCKWZ&1TB=VO".N_R,2?!HOL7TK/.OT=
MB^F;TT#]WJ2STV^--SUF.CKQW.WDBBO+LX7;3.NJ!X`M',&SPQZ,5E4AAV&`
M'2F8ND\\^X/6L'](*IZ2T[`D,U"Y+O#%^1+]X::W,4X-5<?F4XQ;PTUOV!V=
M\#91^2XYI;NQ#3@U5!V;C&YQ"_;H9+2)RG?+*V?=P8Y#Q"8JST7E[=;@AQ'/
M)BI_&5'Y04=H'W=07C?]CVA0W+@U.O:K:;MW,Q;M9(VY+V4Q?G':R)9<?EIC
M@8YS/E1_M.TA=#,@ZJ0'1/5;W;JOXS7SH8ZX')S*Z,\G5BCK$VW_82Z\T,*[
M&X;XCG\+(Q"NA=H[\I/"?:K;]WSO//F`J^5EJ3]^*R^`P-.V?^?!JGBS`_X'
M2XCB7*FFCKZIHS]('?TZ(WPVKS;]'V$%H?'!FX(4)!Z0`@D<H!_/RVPX;).>
MW9MSV#H>]$N^4KM_LC0AI'K9^G7C']1%P369JJDOSB5=S4&WMCYMQX?3'YYZ
M%^--:P=WB=.:-,>VY]"?M#AD745QVKG28\R5CS8^W7E1?L@+X(3!Z-@Y8?>N
M3T58O_J1Y7(.A;,Q1EDF9DN.;O*BFQ?SF-W11<W,W*3&3XP%^J.Z(^PF-W[$
M*=[+*)NJ4^>4IA'="R,BC9W1TK8?1GJR/&DJ8SU9P31$/]>^IQ9'GA\9$R$\
M/3G^9(7&ZZ[9@054IR-<QPI#WW8LU4#@2783.+?DJ-`Y;-N?&C[\4RZ`3Q7A
MLJ(H<"8Q)Z(!N.C>#T411#]VIP!:'K!>:]`WGC&)N:C;TJ\_Q^'YG67-?WGO
MA+;KAW$@;F97&AQ?&#-7`$U(G3/>H:'[;#U30YZO0*AW+MB_O_W7_T%!^G4N
MG.^_?+;`!ENN["3TT?$L#Y#A7GM7]]8\$D&G<Q-\$7YP9P&LM$KR'MBVA]3_
M(F:_O?H8^`](N_,V_B_RZ>].][S7>?6W@S/:K>/9`LDFCV`\<KR(BV9JQ_`X
M?$"8PGY%D=9>"9YVXZDPL!-2Y&#[)/@V@)]8'OT.VR)%QLV3)P*`?B)<_\D`
M[$L^\:;H69"_,7$\R67+EM5?9\S\@#YD+@P5+%/NBR1"6F'%=J9Q@(W!^#4(
MCOU,0/!Z3F!(6D,0;7QT7/AMV,+^4F$9^.5+W(.TL,#-`S&'S4]-A-!R72`C
MO!I_+EN*`8I\+R%&:#W`@U;(S9\DQM8B#X%:&=`2'!,<)3@REN"'Z*L?K\6>
M%4\ARN9]_\@G;4?14^3SY=7UQ^LK`NK#UW]<?KKYW?C'S>_OKS_]W;BZ:1F_
M_WYE7'YZ;]S^^>[V^OWUY9?K#[>TH4FRM9/8Y]7-I_<?/MU^>$]@7=W\\>[Z
MTP?8UM?+KQ_^^/#IZZUQ\]&X^?SAR^77ZYM/)[G%?UI>;`6LD>2M)#2?_XP]
M873'VC6EZOLZA</@704).PL^FOEFA:3SQ;!RLO>3@&\MMSEGV3)3?S$V1[UM
M*ZB..%6_ZYD4&!R@8W/GHS<)CE93^UX+`-L405^8G:T[2YU((G?;DZB_!WX8
M&A#\5M6C)V=FY;LVOTEQ8?;;FQ895UQC\7V)$]&"M^`*PL.F<2<@`H0($9-!
MUO3!\9PP"BQL>*R.!)KSSD/KQXYYT3WH]:#348^_HW:<!?Z#X<]%8'&#^$91
MEBO*3MOL]C:MV7DIFO*&4IU2%YJ&)Z)&'QY8'YYUS.Z@[FM$-=V7/"8].!$S
M/\"#%OWT@LYJ^/[$'0Y*(&4YL;QO03R/[&?@=*<JA[]`C=DQ^[MNA7E(C5D1
MQ"\E'-7PS`*>Z9N=C975L;#,;IL0_'U+/=18VMW-4!M#,%UW6=*1QAZ[O:&.
M^6^^FK@E5S<%5ELTANF9H]H;+IQ^B55S!KW]&?35Y>T_C(^_W_QUDEM\H6?0
M&=1L,FWHAK-,WIUQR5/<'!&65+PT!]6G=5"]D:%N3JIW86U_C*-J5\Q`LXR3
MIL\.5MC!)^?C?!_H=4N(I_@`E_;1/$K;]VS'%0D\7L+.^+T5WAMQR-63?J*[
MK*/174<;QI^VAMS)231&[;[7Y`ZKK7BV72Q=<9432!Z^%W/04@ZG#NG8^<&'
MU64NT9_A=&;+NW,FU6O%7APS#<SV$?1^/C)%-(4`X9%+%QPOC(*8K&+#0HL/
MT=H[[I)[`MKH,J=\IF(F@B"]/`'>47.\L63%(Q@,=R1JZ.H>K!;/:]<\ZS`4
M\K35=:R)XS9>]LORLFO04+8-+XRHS:$``X>IX(9]RFT:^$6#'<^M.?K2CVOO
M$?P>/W`:]WG1BEUSW-]Q('9*&N8SWEAUIDG!+S=7I;HWME\-'RW(<.Y:V9R.
M]Y-8J;GU3`<_%-G;=A"+:5-)7BL`6Z3DA^9%[X54DF^O%O$@R%Z5,']1+'U$
M@S/.@)4/6YAT^*([`FJ34^MKZLER7*?61VODFYBTQ-J#W'#O_<@WY@$JQNB9
M3+[X3^S,,?%Z&NRTMYED9[V-NS0?O3Y:UYXZ#W,PH)AM;>I]C\L_/.N8O?:1
MC@??O?*K90,%K]%)C&WC-1X!?P\/.\3@A+W&C\F)6.,U-EYC[7KJ<^#;0DSE
M]6U0`H'_1)WF``81&.^O/Z=GLHW^/(S^')B=VN?W'6G^:+=7WA(O`8*G1P?;
M64Z>M9*#QE-H./T8%/L:W#P5=B"L$&NOF+,Q&T!_8$K@T7*;8JQEV0&SVS_U
M8JQ=3RI?P%,X\G<B[AS/0\WISV2GX!>E.(\QE[`-2_\X&G313M:X-+J4\P4>
MU=?$\\W-XFW#O4%GTW!O/S0IX??T<O&O/V_;$%\UUE=]^G]W@%FG3O2<-NQ?
MVCR_JS7/A[_'Y[WV/IKG[[\A^?&U0(>?..J/&/](:)=R2IR`[^@\#RN_%^$<
MC#]UCW?5@R!!X;>0QU5@43Z-A,AUGN=7](=O#?`>X2%C9MFR2-;,C""8"-<1
MCP([Y(/6L^,@P#,F!`TUXRR.8NQ'_V@Y+E\[M@`>;KGOQX&-;PO@<2^&-W#+
M0VJNGVT49VJ%3^*[PTE;^3PJV61GIIQ"@)D(!,$!75P"_Y/CNCCIPIJ"TK8B
MPL"#P/MX5!(,QL69$QQ/?O"-*LTEU*SL^6^JG8$WQ]3)"0`(9"-_-1C!`ZH3
M%-&3<`'-#T#=^[`%/"*,3SZL.C`RE)I$+>-Z9AKW_A-@),B@.:5'J*%06Q36
M)"LTPQ$/CU;PG$PW<)\)G2D^F$08X/Y;V!*_\+@SDQB./>Q.%>+(!-L)[/@A
MC$#3(*9M>-8TPMB^QPD#ED&:&O`?`F<[,S#)\%KG`2-G@@K?.HL#>NE4(#0^
M$Y1@@>=L/X`U@AC@9HG)\=:#]:QV:5CR9!,VGH;CR6P$8#VVM#QSH01K,^!`
M)!7>Q;2<,.%$DQ$S`W*)*0Y)L&D."B`@"AR;60*<BJ?H'BCC4,:+N(1*QI_Q
M=31P)9*%55.@7"@`Y_(L#7^;,O+J"2K+-'->B]]HJOXJF4T!_[CTII^1@EY$
M_[R9)<;B-IDWT6C^+?7P.QP-HCA91W>I2E9/I1*?O/$:&T,X#T9")".E4O8-
MZ5L+T,ZL!\=]_F450J1?3#[6JZR[D7!EJI-0E"S;9F%"04MFB528A8+BH"8B
M>:#NRD:QT"066""8HH8A6)Z<Z)X^BSU2\W.0<%#';F(?4*'!]V(>);-FC#\]
M`HKPQ@K8D4A-07-0K3VDMQOQ.;Z.9B<5$Q_A%P1%IWW^W_2K+S'X8(G_!A^W
M.ZCQOHB[V&5J)U_>GO^_%GP1QFZ4A4%-R`GO2;7P!"C"H`/JA'8Q!>5)MAC>
M':2O8#L*2A3L%8Y@4L-OU)M74T&N26.=+,(7///OV*,]&X3L2J-M"!)EV6@:
M%$8XVDA[0\W((K11GY(B!VCI`&`"G&'U\;S;YG$V3H@FB0;QQ#SE)\,&`)V-
M:5>$0YW@,AO)Z3B5!@ZIX4<TW(?&^N`HK*D([<"9\$O)-'>0&\C0E;^3P$C?
M"X:;&=&?.YZ\L`;2!QO$KTV:-F1I#0'.B/CLQ\!//61,-.AHFRG-G/[VC<XH
M'B`[#-&Z:\QA.4&Z135&*%C"AZD<JIE-+>,2(,R8<7Q&2KZB`\MT%%A>:+',
M$`CIZ\`5?``,2<&T=9.TVO+5;<WRUO+/4-S,/@#.'TA)-+9N#5L'N%.6+L%@
MF9DSSDEN62Z3JYO59F<QQZ".1K^JBAE@`5AJ"J3W&&K22,Z^]4T8(N$%\MS"
M,'Z82TN`_J0UFX$JDL(T]P,:E??`<@";DA<P5*"C72*DUTT3AC3(T:5=X.KE
M%P\Q8X0K(7X4RA9:U3*0%'F28(IJ_M2]$6V&&#](*)4.\ZTF]AI.TK`&D0/:
M.HCX'BXH!FQ'+]^7D7(%Q;^N/P!CDF9ZM-Q8X8`2=Q@%LC5`$)^L`/0)CEZS
M<%X9N@&DLS#Q$X'=2W2/F<"&B'ODP&]!A:,BBM:PP#1<']N]P)-3I@%YZ$Y`
M:#4)3.D;*#A"OKLNKQVK5BW6=Y%280[[\#`I8_AQ1-\#4!SS<N1G?2<$`6C"
MD\$J$H@O#:HIBY)SRX*6TD%Q`4(!+X!E(*3`HH^8(VK2^!0J,S3,%1A%:<'@
MU`'&#CC$3J5"7W6A8*Q6XEDEFU?!7X3MPNN(V5C2&BV\AA;.HV]A`NC<*&*:
MI`4"<'+>=&J#Y%J:2_!@305'M:2+\4\DA)%['Z@-\HZRGTI_`-T]0[#^!!G2
M.AV=X8"4-ZGVDJR?L0[9F8CK!,^%79<PH+RI&WX-8*/@6E`;>75)*OW^4FD!
M"`G>2UVD?O49?='G(^+=M3E)[83HE6Z:Y/TRHX?5WHWDD3*SK\>,B-?48PRT
MEP?D&:`CASJ84G*"[0.U[Y=VC[7W<F.0R?(8(;8R-`1./?5=9-@["[G)0P,V
M8TLE33+/P>76V/BLLM;\AK_>_QV?GH)5D&-(B??\0"I"ST$O?2:$]B[\,HU+
MT6L!W2L-)_>H<#$`@J];IS0`^91@U1-^;._0[D-H#Q1;Y570IQ/+97O/?M]\
M#AH2&8&4(@:DJ%"(DIPO-1PPB2)4XUV3C^=8*!>R4$$T.\$9QW*BK(&QKO3K
M'._1=VPAPV/IGUH1Z+RYS*Q$$%Z%6G`.^`#E&:#,2'!(=0);@?2$G#6V9C@'
MUDI_0&!X,<7FZ+=9S[GLZKT5LLJ//8AT$7+$#!9&8Y8XW18H<E#6Z*'!EH#U
MQ232T.JP*Q-@+D#E!R1"&1&>`<Y/2#&@\1XB1`]]H6BAAK#O@3%0/^`0A)"]
MXE5$]/&KV%,PR]0L[(\@H#TJMU7(##'H'I+=3!8&<R3V/7NVL"_UC/0+9>H`
M^,.B!'KJG.&(7R<3[204\Y@."_P[B7<9^R#9E;+RQ)T?.7RIL<`(2/%<B%``
MH;@:`:)>`>PE.!N>9N:%*9U(7!0S<Y[F(U/,DR:]*8*:RP'>IIZ=U_QG]#PG
M:1BQR(`?D2XY);UW,TNGT:M0N"!24A1-9-O`_TY^.1BJU]V!.>BWDW'SK[L]
M<]09\+\C@!54$6?UVB;[?_BK0J[/5*.S(:QRG_DHA?B*,G16J)D_62W\?T$$
M@[N,$.0/V<AR8\!(!W<R$[A"`^"@^M=CM1V"XW6WS_\F-W*S'67]C$3/H;.2
MJ$+\%`);AZ.[UXS$)`1]W;E@K":G@K@[/@J4&=0%H)5`4\4!KLV_S?O.@`4`
M^S;R[6^WH*-%>!-'>#(X93<G]84OPYL9`G\.+G"O\PH([_`7_-@KK$A$3RK\
M[=7UIX^O_G8Q'/8ZPV$_W<:RI;8%JUT5K$YWW+GH]/<$EHH65H/5[X\Z[8OQ
MJ":XKM&7F>Z:@+S*%L#42;:M@:F56!6AN8PAM`@H7[0-K7IM^=\2B-*EMH2J
M,M'V"E5EZM4&U6<KN`DH(SW]%X:[GT5`3U>CY)^W[S\O@+#=:K<[I=`M6K(F
M*(N4/48HBY3>*92?`YDLIJ>XDH-B!_X",\#T_!)0__>6/(EWV5?]0>Y!=ALZ
M_.>]5W_K]H>#<897JX*S?!OK6"\)_>4*Z!<18!'H*XW:!A!+,3LAB-?CD`40
MC[O#<;][.$2?#-CM.L#N]`>#<;=_.+B/@J]7^E$[!;;<O5H/SGTHBSK@W)N*
MJ!^I1P[L_M1!_=`>FE]KBEPZ!6=\^6+;@U8]YMP[:-4CT$.!MAWS=887_=YH
ML#^H:U'Q>X>Z%H7?&5RT1^,]<D@MFG_O4-=C`@X+]3'P];Z2(=56K0_6;5(B
M^X9UF\3(9K!B577XF5L0?^&:<+K/*,(K6;(CIE?R9E)51LBG0$:#K*5;8\V:
MP2WEA3RX1P%I*2?L$+$K7%<`AO75VHJ*<F"]_C`#Z#)7M:H3O1$DX.K7!TEG
M&TC&W5%=@"3$T7*C%:&XZ';:M5-F?3#H<*AVNFR`CN&PUUT)!]WZ?B\R%=8W
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M?,?J_-@)[_F&7"W.7:<ST%AIY:([`7%=S=0[.,#;>"F`\>$&&ZAD%:GB>W>"
MVNOW*WG,&C!Y\-\[V%K9FX:Y<X1%AFSMP`M^,QQD@%RVY+;@K9]SZ5[T1X<$
M;[/4RUZA+M/#FR6,MF&%9=&#KM:OTN8&M]C%A9LZU,'*O>%%-9>X&DR'V."Z
MJOWD][N%90!RMZL'ZG5MGW7U7NA=;E2&O8M<]?)VD*Y#]D_BB;ZI1UX'\%]E
M^B5+[Q+>=<6O>OYD/^!O(4V#0<YBU;D;9L5:J;$@-!IV*[%4#J"LUYL^\A>W
MW/GP702V$];$]N#0:O';DM5JAFI=YNX>!,@M6!@0.]@`9BVBR/]PU[%O9]#M
MEL<VY9"LHSPN[?]`4.0L;!ZT?J0P[G2JJPA]^1V#O0W/#/O#ZDI\GWO:X@P5
MQ."BNF%=N:E[WYV"!_$!?A8]8SW+(?OAEK8!D!]BRV%\8=OQCK")0<V0?Y1=
M+:M>E#<-&UP_B`E5'SE#TM404L>D'>:XOP?=IL>+^MU!U^RT.T;(VI`:U*&F
M`^B`]-S^QS,LZJKM8H\.]4;LZ^*$N589G5'7[`['U!F@_(W<-(;&26GM.5K8
M<C;?%X`6W\&6!]SO80%\V*#@=7=H@I#!<]PL!/:^^Z8=/QCW;]Z5ZY^Q^VS<
M8'<^U;]^17?_&\^@9WJ*-?3V/M3E'!M0M,UQNX>43[ILO>Z8G=Z(F`'^18TY
MGC!NDKUGD%.IUX;MAQ$U#0K\^.Y>]IN=QQ/7L>%!AI/?P"V#])ZVV'OI[BX0
M=[*C9?>"0%C,@&;*MCB[.@[L>YQ:57@N;1ZO,2_V;?)2$9T'V&`)=]IN#7O8
MZ9(?EFU%#>SK0ZT:L>4R=S/6FU%F`.CTBX"S=%0$8+`$`)KV26WW6-&=J<8H
MHQPWR(\OWKXQ<9Z3?:^`966169>;=X;QY-_4P-37V@D?2)I_--G%KC"*662[
M+U+NLIUAAG0%8A@IC7G:JYB>6X\BL.Y$2F8:0W$^=5QN5Y=2$.<TZ&+.O<AH
M@`.#,A7B`4!1_<LD9&&:Q$%6E0SJ^D\"S8_%<,/_>=@H".2;F@<I"Y-C+^IV
MG5HF5CU62#UOXS"4K<<F`MYN%F&=ZLVBLC*4Z0>;L:]Z\VPYKB3/\R!-J=VC
MA53_L0))9$\A>J>8%MZD6O4,SE$U$%B=BW.2T'0)I"H*=UL3;FKXTV[U-8'G
MGDA!A2X^1\+:IR2"5]G^Y)+BZ?R5B%ORX>Q:V14M*YDTVC,(N9V=S<W6\%>O
M>V;O@E5^MH=QI,D]\F&^ZS,*4-*_4GMA(+`I(2D#:M>,SPH*/1INV)$SE>@G
M`BZQHXE#92SRJ#3%-ESA5[7'G:Q?-6Z/JWI5,LXAS\K8W*L:H;^^S*U?Z->D
MC_(P@P6/+_%KQHO]&MB84)Z5YM.DN"UQ;$@K$RP%N3:6R73QI8L%NV,.!Q<K
M!)LI4R[<^1=N)=CEHJ,U"'QK5)6CVN0YEUZIDB:I-;]2EL`[Q@[*GP/G$620
MR/?9M6QNHIZ&:UD\EZB9I/-@IZ<Z#Y9IF9'9&_:S2F;8[RHELRQ2HU:SZGOX
M[<@<=@<;:8J\TNF;X\'0[`X6ODF3>-P9@?.7DJZ<P//,F+]TM\IY``?6X4:5
M4O,DW:FQW7[D<B=6E?B0\IM]D;Z!>`[_E"T95V]ET=@U?8<XE<(MT'"X6%UV
MI*>8ZMH\EA3HADJ/&Y_QZ9+(C]_JA`M"O!*LRCDO."GU/AD"G:1XLNDM&GP>
M+FNX?D0]4$^I7ZLBBRX..6(O)"H90&:]$,(SE'7@QXGL34SA7^@\."Z$*SQ?
M@D8FXCA$GF)$'[*&X9;0*HLBV9X4!<I8/)<-JQ-^*)4NFJ!HN:'/8Q1E(!7Z
MW$*;&UXK,5O&W%(:>!QC,IA)5P`3@=,(V8/2/N9VUU$2QC'G7WM)<&D6H"[!
M->Z`8=A+?&ZLBLU91U6.SY?LKI'=G<MN,ETHZ8.-A`4^IA$:V3P_R:\V@G(J
M<!(-,_"2\X)4))4X-G3=`UVQ;WDZI0^KBS"WES39OW,>T>.7`TYD.LI.2I),
MU>5?`"%QD,"=H(I<"I%H=NAL!G$%#=AYDM/Y/#%S;"<9:N4_X6PV(#IUAT<_
MI34>_[3$.?&UKG#E_,1NP03];NQ+GRJ1?#I-F\*1U?FJFSM[IK`STDZLSI#%
M>7HL^#@VCFJ[HRE/V5V,<1<F?3"/Y+0%5)&>'0CTT\BJ^!YI?8E>D!(>^8="
M,.R<XQ@#;3@QC[2!A5!;RIVHH[7CY[Y3DI3K+.\E26\<;RN'"-O:A*_4IIE:
M3E<>]&C>BI:71JN8>O2<^]"/AW`V@_R%.H*QLB;PGB8Z"IX03VQILX+61SY*
M^RQ?A,.*TH-37%1_8YDO#?[QO3-QHD1*$A6/$[4$S5JDI#5.D$RF=>A3$VD"
MB$LZQ,)Y%]Y=,B0N\%T3@@ORR`EH'A`!"*/`YYFG<6%"`B5EEH<AHQ(F0&?I
M'G+O_:(;QY];!N:I(O0MP&<3^SDG>E'"DQ]14RVQ-><<@S%7^86%>:UB,HOH
MK$?S5I+/>DZ&$Y`_F4PU.'2B^D5Q1#&C]$7<X5"I=++;%]1BH7&I9+)R=NF:
M[N=Z(C?C-[3<A#V6I(`*6L(L*'Y2<CR""!DKT"!GW1NFFD1FAA-UE3A&Q)7@
M"(G\&[19MAY-9#9NSSOI-FYST1*`_.&[U*)8K`A6"=\"HI*D9[HRQ99(&^P=
MD2%]=)4G2E-)E7)E2O>N3(>5>_+E@;4,"?V2!&$C@;7">IN$_`3/78#3Z.2(
MY/RQ=3H)%7CVFQ!SR46E7'N63`=-QEGS=">\NL0E`E:TX&%FZ4<(%(EAD%_C
M4+RA/[),FXH1E:E!0&D]LUN.:SE>[,<AEZK)V;+>^3P0^&;4[H#&;V1QN%R$
M#(H1.6ID**<W*2RP`M?A"6)GSIMT1BU/U>%\9*EP8[2`8_7T;Q?(AXY<"KD>
M4;MP$<'S,DRGX_9P&A^K.W9I<&R[T>GW-<]'N\9R"60_XYPH(@.<,?"I]+>$
M;Y($J5J#C;2TV+9LJ"9/[?31\LEF`'0%Q9G]YJSSQD37,PV\WB"MSAP=J:BM
M":,95&I),IY(!YYK!:Q*-!I+4=CHE-V.(H3',3N4Q3[):IHTPF-<BNTIP%%D
MUUUY\,AHR#!_1ZR/)Z]<D>+,EM"7<_P87*OD5!)6R]@Y"?_G3CJQ>RJL*8[A
M"ODT0,WVD[4T2^T]ATP*XB#OU*3".Q$V1F0I/))1Z1?3!(3$)U':>.I,*;/`
M?BLE$!+/%L,CWW;H!>QW>,]%&'+X3U7$\HT=/_N=DJ@4'6#M(A^!B*?&B6.T
MSM'JC1WYZ#AQ^4;;U,>7(YFO)7-2&\ODC+2T5$W_.;XKFR>4A9BBVIGEM.S0
M4G_YDL/+S!FL.KOIFN-^Q^R,+C8ZO,QB:22/+GU@>P<K\TK.,`>M\2!?V::?
M2.(0OB5'DN5;)>S!4SPC/2+TL3>?!L?9)\`(4IH3GHDLFKXNLZ9)E@>K4,(D
M=]-><0Y:4N*OG8$:?ZH3L5*T>F'\\*#T9@)%,7(O<^B9XY9@O+AW1#$8]=AF
M;PF+#362Y(Z4,]RZ^EA9GH<=JG#X16D_Q9HG>Q;<WO@LN'W`L^!%:U<Y"Y[%
M`!GX!O:]B*J<`S_=DUW8ZVGPHOVM1@`144?J5-CH?JEB.-#.EJNRDCB\.M)"
ME35VET_K-WIEUZ<T/-N>:$+404)IIR[D)FM<[OJ45M8X/#W95/F"S&1S/950
M?G!C$1S)R8UA93FQ<&I#EMV)XHC5P%K`E?H,";-SN1[]KI"+HX@Z8$<Q_X*&
M2W=N_9IJBA^5KD=;31%P08)Q)H.8M'(!5=($K^7!HL`U3GB/UY98+PA7'JSD
M,S9O%L=?#$;=-1HY/VQ1?8:IW$AERS&6G#Y27;"LG."TM[EF)4<C/2^DPF*)
MK=ZPPJ)=J+!H'TN%!88",K$/;C"\=2K/(FP_F/LR.<BU2X5:C-+2K$5U&.T*
M=1BH!`+_D=+X3(]TK6+YN_9&&2I1G)`B!C<'))^[`G1PR_@+(XB(XQ3<=>:7
M&@9!$SP@8!(/17Q:QD+OC@(+B@`R?`/0V2)CT^'#0"19KW2#.BXS>R1@T!.P
MTF29+(WW.+DC@Q96GN]<"_R`6QO>"C3+%$M0)!5[*9<"G96*+Z"VT7IU:STN
M`V3KY*`*2>)Y.A73F03UCSQ;`.'$?M\A";_JB9&J`^!-#OXY_8&GERE:\JJ/
MQ1P/0J728SY*^`>8#"32BE3X_;K3;UWTM<0;LF&W3:]!D<$J1;JV#"#WVI0F
M!"U,IQS:3Z39U;-V?P"H%O@2C(TD1O]#6"&UN#&XQTTF>X=GB.G6*`W"U>JP
MAH.1O.^B'5`+R]/.BKEBW!B:!::.!ON4X<%W)$`;BP$&1IB4L"9]AFX%ECV]
M[LH.)8A76$,1+K,_5("4QDH)S#0+I!PG3)%-Z"_00RKH6*E046?%;IK=%ZCV
M36,21^@=$0C2IE@>?U7ZFC,MNQ2ESMZ;1JO4JU4\XZ.8!+$E)2G;.6<IH5,K
M`-\Y02'9"6&'ZJD#-%S>1LC(M!#BVJF=M!$Z?HJ<$O<4SR8ON6!3]>5A==_I
MD(+*.B55SRF_YJS:5."I%94(D7-)1U3%^C"M0D_CRJG#KAG&:0]"1"J&E@J2
M:U;D:#[;DOX=,Y24!:VFGNL]:24ZT+/OS8(-UHM&'_!GA?+22"M*;65V2YH8
M2Y'0`^/G(PX]P/]#QPMD@2UCRT"\!VASW.?<_5@%@%;ZJC4)(1C`>@>`5'R4
MJP?]",QY^0-TP-DW^P.ZT<^=/#KFJ,M=DE12D2^T<VNNY#BOUS&SS&`:>K\/
M_9P4O&PPQ7=T:!%%@0/6@U/DJM,*W9\/[P$+PE.-`^B\3]%,R[AF7-@5=KQ%
M0-P*08?>1J>7;*GD01U#&.)P]`G$"-'4829D`B&)F4U)+#FTE$<)4U5JQZ>6
MQ#2L_;BS0?DY"CP>YZ]VZ,"F19Y(`LF[,\>S/)LZO5S*BR;H618K61,VREP,
MQOY8LJN"^(YS90B`18SC9<+RJ9A$V:O40#75R(&GE>$ACRJ#2=I9^<#R'"4V
MRGS'RIQF$F1.7J]E#4AU]0T.QA\6!)W`=NV+TM*1:E?I>V-S,.QLU%FL/VZU
MM>Y#ZAB?*KDH!@:)N&@QI,_KP2DKJ[.P#GMFYV*\L")Z.S!/@(].B.=UFB=%
M*1OQ9_?"'(QZFQ!]U"ZO%<H0OM<0?L?*[B^M3>`MUBI!1+2.CSKS7==_HE"?
MCB*HW@G'O(>)TX(9PT<RNVNY2<99>?D).CE^',+/PC>_G`#*CXD]RE9DNMG"
M=>=8$./=_?:J_8K^'<XM6_V;7OC;*YO2ZZ\4D!/TCH)S&U-(\Q!VK?YZ"R[U
M-+K'#;1_6K=/40)9H-8A]\FV7+4OB'XB_R']-388HB>FZ@D="PST6T/N[YR?
M!GA:`TTNMJ!C-%5_I@"4+I:ECD1F?0#D4`'$`!("U7IY@BF@..E-H!GD?6X#
MX"<25]3OE,X+C)_Q4V[B?LHX8_DZC_QYH0V=XBSY$P4W_&H5HJON(*U]0R#1
M8A:0>\JXW24__B6[LV0P=BD[M>B@J>]R!8=+T/IS%*REJ8`?8&-W@1][4]26
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MVA=[_3<D.*BN/1(*'-X!WDUZ)ZF1WCCT.-F`[V@R/&==L]\;;4R`S3'PYN41
MO<GL-#1O,CN'CR'R.^UJ-0[U9'G2[?<Z9@(7C8C8B!;=FDN0UI`!6MJ8^O'$
M%0>V=XM!64LDAF9OO`T=#J<(3YX-MM&&BR'8P`AN=F9?\UE^PUVGP%UKZ9:+
M5J]B3=1!B)\WN#]356_Z4:&\6"L:K@.2DZNZWFR0Z:\_?Y\$KO,+_G_XY_\'
M4$L#!!0````(`&R)2$*8B"5%#1(``/':```5`!P`<&5I>"TR,#$R,#DS,%]C
M86PN>&UL550)``,+>!51"W@5475X"P`!!"4.```$.0$``.U=6W?;N!%^[SG]
M#ZSW]#1]D"W)3C;Q)NVA)2I15Q95279V^[(')B&+#44Z(.E+?WT'I$13)'&A
M+)%PNWF($QF`OIEO,#,`AN#'OS^N7.T>D\#QO4]'G>/VD88]R[<=[_;3T=6L
MI<]ZP^&1%H3(LY'K>_C3D><?_?UO?_R#!G\^_JG5T@8.=NUSK>];K:&W\'_2
MQFB%S[7/V,,$A3[Y2;M&;D0_\0>.BXG6\U=W+@XQ_"+YXG/M]/CL1FNU)(:]
MQI[MDZOI,!UV&89WYR<G#P\/QYY_CQY\\BTXMGRYX69^1"R<CG6'+!PN?PLZ
M?^[VN^W.*?PX/7Y<@`Q]%,+OZ6<G[>Y)^_V\VSEO=\[?=B2_)T1A%*3?TWY\
MWV[WV_`GZ?[1=;QOY_2O&Q1@#4CQ@O/'P/ETE)'NX?38)[<GW7:[<_++Y6AF
M+?$*M1R/DF/AHTTO.DI9O\Z'#Q].XM]NFA9:/MX0=_,=IR<;..G(\%N'TSZ#
M)'#.@QC>R+=0&-N6\&LT9@OZO]:F68M^U.IT6Z>=X\?`/MHH/]8@\5T\Q0N-
M_@0;2;_5`I,++(?@(.:;VL?JA#8Z`:*B%?9"W;,-+W3")\H:6<6@09!XU"7!
MBT]'=]AYA"_O=-L?3MOTJW^0Z1L^W<&<"1QJ\D?:R0O1]GPO\%W'!F.T+Y!+
MM3U;8AP&(JC"CC7AG"`""EOBT+&0NS/HTE$.)P&=O)@2'9@+\XYZ-2"XDLKY
M(]2#O(>"Y<#U'W8&7AB@'MRST+>^+7W7AF!A?(]@FNTJ`'ND_4IBDEOD.?^)
M20;?<($"![Y]`BT!AY1GD1]AO\BO$7'0C8N'7HCAUV'BUD1H^;WVBW#HW8,*
M?.)@H1V7--TOECXFSCVP<2_&4M)TWUAN0C&(YS;[_?:OB!#DB<-0OMV^/<AJ
MY83Q9(=)`UX@A#06TED)6Y'HNE^L`^20.!F\Q"B(2.*B1"BYG?:+ST#$`Q4$
M$TQF2PBW(FBL]OM%-<4N=>H0_\.G.5A2@"RI6"SJMU^4L^@FP-\C(,>@'D@$
MCM%\OY@FQ(>\(WRBN2J$OCMJ.GUL`9".Z;E"%R_9?=^^'M83MPY$%CT((.VK
M@%>BZWZQZI;E1['7&/C$6&%"O0<>$']U@;QO)+H+K:<*^'<<;M_ZAW_B.7K$
MU53/Z[5OJ\8+3`A-\R"UJV3/@HY[]@CT6UJ0QF&;[GY@<$#4_U0`+#_"GC4,
MRZ[0?/`@98:H:,/WQ@!N'`_;`\>#-9F#W.<DNPH%+QZY[JQ]`HL*F62B^DAU
M9/%S^I$0NTS?@V7T<A"9'0Z6W<OA8G;8?Z8O"RC?LK9\6PZ@]``UY-YRB"6Z
M'C8/EX/)[U6WW^SC$#EN,*:+/SH]7NX_62/6X4?7W[V;(\UUKA&OM/:KC7*P
M6""I9G:/@T4#263L'H=&)DVU1-?]QRYI]16:'@Q+!86Q^QQF1ZTJ0E&_VC(`
M29KE1Z@;N;3*=QBJAGQ&4O\R?>M#VWT)W&[]>#LOP=NI)V.4-`1!MUHP2D\Y
MV?[U[#Y715]U')X4%G*MR(V3XA'\?ZL'?@RQ9V-[,PX58D\E$?`Q':O=;G>T
MEK;ID?TG\FPMZ:YM]3\X?'&I0XJ]"X#3'2;X=\\<S\S1L*_/C;YVH8_T<<_0
M9E\,8S[;U)EL@+N^M076I84N/MFF?HTUKF99H.`F+FF)@M8M0G<GU"1.L!L&
MFT]B(VFU.^O*EA_6'_^6[&#W(D(RIP,NNL%N_+6_40/+M3EI#BVM$J!A$'[0
MDX)[Y,:!,>R!53_!G(V](4,*R;YYZ3)&I!-+\XF-R:>C3KN]^1I$K"WC*988
MK5N<!-$J,=26`U:QZ;\@_HJIZ[5>_<IB9`F![S_2'K!SNPP!>:,$KH\>@BFV
M,&"'E>`8AP+KXW:1HZO;&%TR`BO'TF;=^P18&:QL-Y%CX;0Q%LH$4D[K9KC$
M)$7*T'N^D9SFSQK3?+E0:NI>)A:6-93CX&VS')2W4I@',0$-^\CM(@#P+,:C
MY4:TNOVS[]L/CNLR?:=,UX83D1(FMCVJO/@J6]G8]RS9"9]MVW#>(6"'*Z!R
M='#G.VNJ-Y*7EV9XK\*Q;FJLXL*(;*$5.\7C=U$B\2[C0T92.7H:R6(%TUE9
M`QLYZ,9QG=#!@@RJK*$"*]()>J*K,[FU:+YQP\Z)K?NRI6BYI,H9%,`E$;:E
M[8K3OF%?)4T/7U[E&.H[]XZ-/5MN[C!;-^QVY=@1R*H<-R/?NYUCLJ*'R@)_
M7-:RX6T%.4XX,JK'Q[-$XKBH4D`I5?SK\5%9&Q&N]5B-U8D?HFGP"E9[<3*;
M$4EN!<[HH$[L8.;M7%'59*>8BDANDW#[J1-3V&LL"<'W2%GQ])Y^\MNZS$H<
M,LH:-KP9+=`R6S3E9@+[@>X<"V4-&]WIR3Y]Q#L1+VW9<.;!>8S>%R!7U(YH
M!9_O"<DH-FLXZY!C@B6=<C3HMNU0B9$[08X]]'KHS@D1ZXB&V;KAA$..%(&L
MRG$SI;5I'K8WE7<0AJ-5%->Q]?'"L1Q6UB'3L>&T0XXQ>0TH1UY1P*&W/@B<
M^"16<Q@2YR8*Z;[)W*<9E>^%H$"`<KMY$$0ZMNXVN')1[24ZRAJ.Z-H9A0SE
MTO%\$HN>B#/T_N$[7G@-N75$F#FNL)=R87)?U$KJ2SF>,\F][MG2:;2XFSJ;
M8ERY&#ME^SA[K&.+25JV/5L^5RT?3_):&<'_&ZOV+K\C+BW]/I4O_=;>;(WU
MUYIKV`5WQZ42G?$DFLWAQZ4Q!FG,@69.C*D^'T*#!LO:/Q,_"";$7S!3QZT6
M3:9/R,7!%-]C+\+L6HQ"JX9]88E^MUQ#N5#*A:J>'X3F@M:K!3-P9,RE>:Y5
MP\Y:H'R&4"7*;S6\UYPX'!H+Z*T^(Y"*M;M<UK+I`DDV^BP;962I-@UF.`[)
MR:W*+B0`NKUR/"<(DT?%C$=Z)1!KXTJV<],5DW)T55.%>G/J63IZGU?RO'`$
M`CT']PN\\`G.7*1E/()PH'['0^1I"`H,*BW1#_J-#<_Q&K2Y=0;%L=&#GSJE
M3Q/K]K^C('GDW/1`YGL,R3QD\/1\&29$_IK-G#E4'Z9AQU`SQ[NJ6;F@D5[A
MPHT.A58-;Z#7S#9#2>K%C?CX>QWU^(R6MFQXD[UN/\U6EGK,?D:.1S5C>O0Q
MO+7'82V*R]LV7%-0,[M<A2GGABG:@,+%`!C$!N$B)UA2T.8B>REW"=6"?G*T
MO_L?HEU*D<J90+*ZY"R?LPT:SJB+6+?#Y>$I5XV]5)9U)+F`N,+>MF2V;CB+
MEN&5*:-Z07.*_<P]D;%9,4L02EHVG.3RR>#(IAX1U/'ZI`1RWPFL)2*WV%ST
M7.2LZ+F5N&)R]^$:SG#YE+Y42^KQ/L:A<%<XUZ;AR%:*./=@:IY"-6,1+_[R
MCG2W7\U3>9M09NB&HYR0XWTJ4/%)J=\CQTVDR!2!KNL!Z+7*ELRTE1E%I8DM
M+W76+,KM1K79__R,XU9Y-2N4LEJK-$=WHTN@",'$;+Y6A?]BO;2HXZU\44=/
MGWW1!B/S:Y-%'?3F-)`&XBBEQ[YXN@JP/?324Q/="H$X3O9798#?U_.RLZTB
M)Z\L)=)7M)8M2:G-1?[:(P9!HD[-N\@7D":GD?_[`\N#K>Y?QMX>SQ\;SD:W
M[7#]5B?OEI8_T64N7?K&]YU(S5%>]X:7_ON<K6(M*>>`X\,VNDZB-]Z*3R;S
M+1L^NWH9>1S9E>,)DFZ"40#^(_DY](IWW[+W!B2Z-GP<]3(FJVCG%5!;\OIC
M(:=;?>3(_/&UD,E\';32+,+R]@XY]`G#>)&[]C`0%<37L.XZF!SO[U\+[U4T
M^`H,(D:]OM*G(OUE7>7(_O!:R&9KYQ50F[O]CU8V%RX[J1R>^8-);TV\$OZK
MJ%!!BUC?P?Z5@,;Z_H/'9+O84)))17>9V*(KQY+NNOX#?<YPX).1C^@;*D?4
M^)*Z)$@5?5BF@YCFX@+9=*7.7-WN,)`DRZIN2^VL.N6LH.AZGE^FF`0>J6*'
MZL-(6H"B6UN[JNWP6Y6;(K3"1AN]G^6K$RYY!VVRG27)4W2?JIJ*E)NRKZQ.
MJ:/HAM<!"IF:+\^NI?J^H^C&U^_5])6JZ3N*;GF]XNIX]!3;W-S7K>^10XO'
M11.1WT622$7WL&34H1R'VV5UR64SESA<^K:83,F^DJRJNUDEKR#EZ&7(GD!_
M06%/Z0`JN2+FNVID'1-G`#4+@SB<<KV44%/JU2<49+B(`L?#-(2"`,^WNNF+
M!62Q*&1:]RX#J5EAM"O[TII[558`2DKJ,]>_8=T_5&T(-:N37LX\4UL*<DY\
M"V,[CL7T*JQ+%$;T)D?ZWF;?=7'R1G9:.R?,1'<92<UZ)5D+V%UWRN4U5`U]
MA^+$-I6GCZVT2MOQ60<PPEYJEC1)\BNIDWU.:L:F[%J.X>H.62$]%?"^D>@N
MM)Z,1^;CMX(^:I8H23(CI0_UG"U#Z+32<=?%0^D`B@2581!$]*C+)-1%F@ON
MQ;HR'=5<+'`X9(4,OF:4BQ!9Z'%Y"6>/D=%6S4Q_!^H*\JO'UCH[-1>,)\0@
M24D^P/2J8,Z9WDXCJ9G9RS*]N^[4BSE9L\T=5TI,WD(/-1/V':8P0Q?*3>0I
MODO-<>R'>%/2Q2"/W5S-5%R2.9$6%)QWSTX$S&L3Z^-G6<2.MMA#S72]ND-E
MZ4)!`C/.(FM^57(?1C\UGRC8P8ER]:*T*YWB^(U%$T3")PZ9_"YJ/B&P@TME
M:4.]61GOJGHV_4'72_>P<J)ESI@X]/QPNZB.LVDE/T3#R\U=Y"W9*:ER5JOB
M2U\.I`;>=M,+U'"P=<V!U,#S&(J_ZR9[?PCG74#I12+OY"\2F<W-WL]?S%'?
MF,[^HAG_O!K.?ZWAG3=FIIX0N*8WOX!LL-X,`/'VQG,JU8\@"2T[=/T@(AC^
MTSG6S.EG?3S\5_Q^&TT?T[?YS(:Q8).I,0,AX]_4(-`U(@[-U=,+IK>OCDJ%
M>)\7HGNL7>O3H7XQ,K3A>&X`[+D&P.OAH>PYR13KASS6TV.`>`W@S.G0F-4`
M[[E>O`BOT\[#.SO6P(R'U\#Y=4WP,EE$BJN3Q_66XKJ8UP"H<$E$"JJ;!_7N
M&-S"Y25,F]@%Q)/GJSZ=ZN`8:GGIU6KE),>%\4DBO9CM%H-_+F/Z-`_^QP3\
M<)[X,8H=?-Q\./YLC'OUF&9Z;\<EQ"%`M7WRF4(_RT-_?ZP-].$4)OWHRM`N
M#7UV-4W<<0V@-Z\SA6`Z6R*"BWC?YO%^.-8,?3H&U<ZTB3'59E_TJ5$#U&RV
M/@>C#E!RTER$_*X0%]K'VM08Q=%NHD_GOVIS,.N9WDO>@G9X[+/H)L#?([`(
MXSY;$I5"+H8RB&6SJXL9!&`P!<V@3K8&H)LJKFP!%Z16L"SIF)Y;#%^=0OB"
MD#"9TE?,@9;I-*09Q(2:L_8&!M+H2)H/0]7Q(KW\U4=<20K![8P&M[D^_CRD
MH5B?S>*W`=8NQ/JA5IBE`Y\8*TRH5\1T'^+Y`)@G6+<0%L%9ZKV>>17[1VU@
M3C7P-U/J*0UM,#4O(6<:_SR]FLQ[OS9"6GIU.%>L0E1]3_F"*&!H<_T7HPFJ
MML]+N.@+X?<#G3?&P)A.XY2<1N#Z!8AQMR#YQA"!5_2JA'AXKB2%6!R[+BI`
M"W)O@P;BRXD!WC9.R1L@A1:DF@\>+(\@J[#I]0]4N!OZ-N_U$A"YSPLJKJR%
MX-V!5&XR@A1),[^.8<5$LXX^")N(?3$<PS\&P[$.28@^RJZTZM>#>(4U@>5E
M:;[5+20!TBLM[<UFU#ID+%]TS>E')5(5\@3.TDM[DXQ2CP=,UV`LZ(5\87LE
M5B?:S)*,A;:0)&POS.I%>Q.R8!8R@/4ZK4Y\G&40`_9I67SG+H;JE*=T5<22
MI"RD,]9&=<J07R2QX)?%].)2J4[D8I_?QR%RW&!,]PGH'"Y*58SO\KY_/;J6
M#M]<$%A#*<I7B.G<*+`>IG$Y.(05@K6,0/52E(EP3%X*T3D?XFJD(A/CF'@+
M(3D?Y!K%R[$7871NQ$1HH&;JFAVI:U5RBI"MW;-"=,Y#K5>MFPUA,?!",.9M
M$#<D#2=;8MG.62%*B].E&HU*+!&'LLK;X@W15IH4,@FKL&->*U4\*;I%,0IA
M64(,K=.T()VB((7`+"-(MXE$G6E2A5C-R-1KM"8&=LYL+\1MOA#U3G'6:8U8
MK$)LYY_>L.5;EVG0OVY0@.&3_P)02P,$%`````@`;(E(0@Q=VAC?&@``UY8!
M`!4`'`!P96EX+3(P,3(P.3,P7V1E9BYX;6Q55`D``PMX%5$+>!51=7@+``$$
M)0X```0Y`0``[5U;<]LXLGX_5?L?>+QUZLP^V)9LY^+LY&S1$I5HQY:TDISL
MG!<73<(6*Q3A`2G;FE^_`'6C1#0(2A0!.IJ'26*CP:_[PZ6!!AJ__N-U[!O/
MB(0>#CX?U4]J1P8*'.QZP>/GH]O!L3EHM-M'1AC9@6O[.$"?CP)\](__^\M_
M&?2_7__[^-AH><AW/QE-[!RW@P?\=Z-CC]$GXPL*$+$C3/YN?+/]"?L);GD^
M(D8#CY]\%"'ZB]F'/QGG)Q?WQO&Q1+7?4.!B<MMO+ZL=1='3I]/3EY>7DP`_
MVR^8_`A/'"Q7W0!/B(.6=3W9#HI&=V']?\Z:9[7Z.?WC_.3U@>K0M"/Z>_:S
MT]K9:>WC\*S^J5;_]*XN^9W(CB;A\CNUUX^U6K-&_YN)_^I[P8]/['_W=H@,
M2DH0?GH-O<]'">U>SD\P>3P]J]7JI_^^N1XX(S2VC[V`D>.@HX44JX4G5[^\
MO#R-?[LHFBKY>D_\Q3?.3Q=PEC73W[K14B!9^-WI[)?)HIZ@Z@3HT/L4QII<
M8\>.XF:8B<@`2[!_'2^*';,?'=?/CL_K)Z^A>[3@*38VP3[JHP>#_4F;T_*K
M#FV=H>,1%,9-@S6E\2DK=$HYG8Q1$)F!:P61%TT9P60<@Z:*Q+6."'KX?/2$
MO%?Z\?I9[?*\QC[]5QG9:/I$NU?HL=YQ9)SNB+:!@Q#[GDO;K7ME^\S:@Q%"
M49@%-5.P))P]FU"#C5#D.;:_-6AN+?O3@/5SQ(@.NP_=)S8`4H)SF5Q<0SG(
M&W8X:OGX96O@J0K*P3V(L/-CA'V7SBO6'Q/:S;95`*ZI6$VZY-$.O#]CDNG8
M<&6''OUZCY:D.*1&%OD:BD7^S2:>?>^C=A`A^NMH-JQEH15+%8NP'3Q3$V#B
MH<QVS"E:+)8F(MXS9>,Y&PNG:-%8[J-L$*LRQ7[]NTV('61/0YOEBAY!QF,O
MBCL[[31T%(BHQTL]7XFV(B%:+-:6[9'8;[Q!=C@ALR$J"Z50J%A\EDT":H*P
MA\A@1*?;+&A0^6)1]9'/!G4Z_T?3(6U)H>U(S<59<L6B'$SN0_3'A))CL1$H
M"QQ0O%A,/8*IWQ%-F:]*I[XGUG2:R*%`ZMW`SQSB)<6+'NOI>N+1HS.+&8;4
M[<N!5T*T6*RFX^!)/&JT,+'&B+#1`[4('E_9P0\R>8J<:0[\6U97M/WI7]'0
M?D7Y3"^2*KI5HP=$"'/SJ&N7JSUG"!8\(K"O'%,W#KELHP31`8B-/SD`R]=0
ML(7ILBOJO@349::SHDN_&P.X]P+DMKR`KLD\VU\YV7DHV+GFLKWV'EU4R#@3
M^6LJPXL?LA]E8I>1W9M'+P<1%-B;=R^'"Q0HWM.7!;19LC1_6PZ@=`4E^-YR
MB"5$]^N'R\$42Y4];C919'M^V&&+/]8]=A\_H1K+&$?GW]YN(-T0+A&OM/7S
MU;*WN4#2S+#$WF8#262PQ+Z125,M(5K\W"5MOE31O6')83!89C\[:GD19LF5
MY@%(TBQ?0]G(I4V^154E^#.2]I>1+0_MV2YPS\K'6]\%;[T<CU&R(62(E8)1
MNLO)RI>S^YP7?=YZ1%K8Q%DHPBN<!`*<KU@<\V`'*][%^$:T"N),[M&QZ]$&
M&\;AQOF'DI9:UN(%T2DM>CHO<\JM8/^XEQ\[=O'8]G*"3DN7@#C^TO$8C>\1
MR0EW773_6&W?SX<P%M@_K@!'9EYH"YE2VR1ZL"=^M'6C7(BO8Z8_]@*/#1_7
M])]KN-%KA`(7N0ODK,*"3D31'[.Z:K5:W3@V%A+)O]J!:\S$C37Y?:///NBT
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M#%[!0EE(>T)""D`#8S%FB(:S6E5YN*MSH!=%Q6+^WVE$VXZK6"^(KG.U=`T0
MV_LUUP/Z-W.OF#^8P1)W/&5V(W#=3>>1(^@;6!XU2(_:46T&^RHW/5R)NW>:
MTP.CANAYIY:>V>FHQH2P`_7F?1@1VXD`8KAE[RX54"+GH,%X(3(43SQV.&(;
MR/0/=L;NV?;C+>6H81,R]8+'>!\1FHMD9)5PE<D"WD8+/5VX^:F]L(\<1-%3
MS[2#HKGJ4*<2B&C/5R9XT,532M,B9CRE:`%:DD6TIR$%%O0%E)J]&XT066(%
M#+]>2'O3<^!"QK]0;_PUS40$K!6L!@EIR*#+I8_')>-I:6]^><N_5VKYQ1V&
M^.!Q\B(#/`V(1+3G)1,\1-,'74:JC`4)IZ3VI$"8(2X^*O:4UJ_1T)9CO3K^
MA*62^(*Q^^+Y/NA!98LJ82N#`;R%"A!YE[ITI`X.'-E9?U56<WI@S*)0C!Z$
M9--0'>.+3:[#_I;0S=+<T#(V5KN<OO;L>\^GQD*2&XFP@.9<9``'^5&[[E[L
MTO3L*=NBD=N/6B^LA!<Y:W.VHSC806K4KLHI8C)!;EI3F!U^^<H0)(`/<J1V
MP=[TGCT7!:Y<_P%*5X,?$7B0';6+^FL</`X1&;.;&6)F."6KP0H$'&1$[?I=
M>C"KZBB6=_A2NX1/MI[,92"_<$5H@;&#U.BP0$_-B9*+=8%<-0B34P,,(6Z[
MED_?QV`_N9M?G$L``:R?+E@-<P.X0?NJ7;C'C2-WIZAZ;]BB&VBS]L^>Y:M!
MA'0'4;NJE\A8MWE&"):H!C-9"H!,J5WD)_2DL--)2.5WRX3BU>`PES8@H6IW
M!')3J"]ITAQ@:6U`TE1'_Y,G<T5G*3DE%9URS4D,!!QD1.U&`1O.<9!)QV:Q
M:G#!10T2H7:+P'3=V'2VW[,]MQTT["<OLJ'`/E"Z&K2(P(/LJ-TEZ+.L``%R
M%SD/Z(IY,I[$&02:U+R.!\TZV8+5X$Q2#X@^U?>3P*3SF4Y"->@!<(-TJ-U7
MN/$"3.)+[;/L9NW@GYA:Z1OU7"<$7#IE2%6#*!DE0-;4;C.D=6T'\X-8/4QB
M&T<1\>XG$0M;#3';/*'+0VI*"N5QH;!TQ]NF\FJT@0)U!9N*VGV1K,7-EJOL
M:M`KI05(7&*;Y-?3#06OZ3]5I>[@/_>SS.-Q+I_'P_AEK:Z_'?)Z'/)ZI(?(
M0UZ/0UX/+?))'/)ZZ,'#(:_'(:_'(:_''O-ZO-><'A@U1,][M?1T<(06IS@3
MZ499F(ZI[3UXR!6?SLM1`QU&M$T"DEL-B%"UH^%Z^Z,:=$FLOQL'%S8?71,&
MM"!AG5G,HX&>7N"Z!C'<T)Q$(TR\/U<K92%QFT+5(8R/'/03M2.J'8:37"3-
M!*I&4!(UZ'9H1TYW$L4OV7O!8PZ&$E)5HRD%'>)*[;&G=>C7WA\3MK7''C^+
M?\'>,Y0_A0&+5X>]+!T@&M4>=DH<9,CI=DA(ZDR>-'QP":`+;Y+>AD"B(CSE
M\S.T.?TDX60`I2O%BXQ[H?8@5`IRMF\A$JD4.])>1>(TE.HHX>IUV.Y#]PD1
M>_U1[V6$\$(4(1P,Z1\W5F<X,+HMH]NS^N:P30N4^U9!4A66_[+EXQ>.)N_D
M-6F8@Z]&Z[K[7:$F</A]I=)[>94&PV[CMZ_=ZZ;5'_RO8?WKMCW\_1#"/81P
M4YNV;R&$.^LO[+%O',177B3"N'P9[4.Y(E5UV\C;P"J,)`)E509UA:;&F=`U
MC>WN3(K^$=Z=B-,YT)LCA,B-PBEPL<6=`]P`6@'6<VA+K`F$-*3*[:'W%$@"
M'RY(@>*$=?P+*D(^A#)WO*%9&VZRH8,SCEJ>-B^E"`GB%U9R*$6:&0%F<")1
M?>:!=U9=2(Q(Y.Y"9WHRD8-!(<7GABIPD^.#MKMV!2H(CJMJFT?V5OC:9K+&
M5&W"!$?-8O,8-9&SW(RC)N@^M`AM`7T[>(1V>@02&MLW"S4X_A5K[L8ZB`YZ
MZ5E?:0=U,.@\0P(:&SL#-&1K#=)TS#I@<T+8$(F(AV<1W+AW7MDA<ME<2Q?J
M:\\;\Z:57!5I3.66RD`4JPUR`\K,QMXB.!;55#V2,[6!6-XV5`X/FL_4@XG'
MDO4MDB%.K-;A$51&6F-Z\F@`4;)MI'PW2F8M:#=B9G54GYZ$'A!):C.'B(;Z
MI(ZSOT?LH9,!<FA)03J_G>K4F//=]1(%&?5K!+/&6W`KD*RT>LT@CV*:;BR+
M&CCUY^/?;-/IE[+58Y6#'R1/@_PG4+/<DKT-X>K1QU,`Y*_@798$I'E>9>L5
M$<<+95C8E*B&Z;FH07L7O,V2W$W;!"+T2;,%=;:^''B0!'WW7TSGCXD7>FOG
M-7-,.DEQG?G+HP+(XK9;+!)=J1VPUQ*L5Y9(F:(9Q<<V)7H25TYG(J2P@PRH
MO2D@G/[BM/';3/RQH,Z4R8$'.5-[DV#UDM+Z!3[!MI9(1&.>,F&##*G='.D1
M_.!%USB$QKM5`8VMOP$2#.HF%%!Q::-+'NW`^S/>:#8#]\H.O3#>6PNI@FO;
M\JM[`1^,8Z/IA>Q@]H0@^H_ZB='M?S$[[?^/+V@89H>E=QNTXZL!O;XUL#K#
M^#?[O^_PS28>B[`O(NI6$''O-GS<U.'LQ/AF]MOFU;5EM#M#BZ(>&A0WN\BP
M=]3MX)F:&Y/$OLX*ZN4FU/,3BO`;Q=;MMZT2[I`TZ?C^3-O",P==O;:)[N+$
M:%K]]C=*^+=RT-U':5CU35CO&*RKX?[QS)<#'%.=;6)Z?V(TNC<WM,?$]V?B
M?O/=[/?-SK"4JT&9[Y2LL)]O8O\PP]X>SNX`,>B-+NTNG2]6IU%*LVS9'HD=
M]AMD,U!K+O(*^<4F\H\G1LML]VEWO[ZUC!O+'-SV9S>9]H]Y<69O\X+V"NZ[
M3;B7)X9E]CO4L`.C9_6-P5>S;^T?:2(ESW1(&W1H._P[?/7WJ>F@=F+TK>OX
MFEC/[`]_-X:T20_,1DFW]P:3^Q#],6%'\Y\3Q_=7B-,3&)W!!K=7`^M?M[0=
M&!8;7/>/D[H(3XB:E_8^=F3LB37@)G*H6U3O!GYZTJJG)BTZ$_3Z[&(DM3'K
M@>SB78\U9>,76I'!:C(PK>IO94QAD1T\LEWWV8/-0D524]H%F]*&9N=+F\V_
MYF`0IX0M6X?Y,\6T@[8PL<:(L.$0M:CW=V4'/\CD*7*F(KW.4I,A'27-1J-[
M&P^,1JO;-^A(TV=#I&6T^MT;ZB9U?NO?]H:-WU501O^*AO8K$K)UEII+/S*V
MZ.AO&4/SWY8"HM97-$+PJ4GWDO49JV7U^_$M5C;OEHX_AGV<.NDA5"0U`\>#
M%L-_3'UMBTV_-SV+#K.Q"UX^)3YU>KHO`2(L&D?7G3/=[ME)]987V-2OL/W5
M#62AJJDINTZ]M]XU=8N,[O>.U1\P5Z-)=9UI?=7NT+^TVAV3>A[F=?)J<NEF
MR%Y/];#O<7VLL]34+[VN,GY9U%J"BOPE5GR7E*-4RCL0++2,7V:UE#+V+5=<
M$/*4E["^[BH1;&(!!H%-N0;KR[!2P=Y'$,K4O#]?E94(3[#J`5"?\V9UX=JG
M1'6XBR!($=Y$#BR%2E1A<TT$H>?-Y.F548G`L\?Z)KNJY8<=MB7`NF]:J?2L
M+C_FSVLWEM4K&_SG2-+JI69RX>@_KT;EXP]\_:XSTHAD2JD,4CDCY$Y\U'W@
MHER,>U"D2E9:CRPDDO2MA;/RV:<:N4H@5:ZFB^3*SOS&R,Q"@A0FVU6E*+-)
M3B[QKFJ";4+]@PH)Q,"@G?G4@G05"O*F[,37YML+.6VE79:5D@G7-B>+BD:Q
MGPPNP!&A;VTK^0"7\`H]MZR*I"Q;=3$LH8B>HR]?O4TC-*C3/J7+'G/,MIQG
M>^9T$9%X)ZZ#HHS7R_?P)26I+[;PVO:E.M2D"N['+)$DVWZ@?[#0S[/MLW4[
M;>C0Z`R5UXBOPHR/9?4NNO\#9,5GVN9/D<S4@(GBEGWC),$Z@^Y2L03Q`JDP
M14#I-TZ22&O0>]E#/Y+J0#]5SY'K,@5?VQCBR/:SN%@O],:YX"@+<;'M[0W(
M&9@-G0FT`D>`5_:-,P/K#!%4\,6,:TP5"-S!")-HB,@X>>1P\[5J3M$W3@^H
M,L1.P3DKXD%4JO-P2KYQ;B"-(6H*SET1CZE2U'!*OG%J((TA:A2_[B`,_`D"
MG*E#+3(1P%)#FHFC(&`<,W6*9?,LR#)T6>9A$!!NZNC*YFD0#2*M*SW:`>TH
MD_CDPA?:/]F=F=3>3RHSGIRPRHMF(HA7TZ_(?:0C2'S,FIVK'GE/5]/9B<S5
M!2,\&W"NIKS*^E[X0Q2Z+1.`'M'??$UJ/6=AV615(XX,J2*(%XM%U,2%%=";
MT;@VC:A;$&.%F1V18V[,D'Y2&$$4BR@($4O9G<L3K+-VH=^"B=(VM%LDF3H_
MNA&GL7/C5.,SV-D//J1+JXCR2O6>S<<?^-"+#AL4P\Q\EFBBT'L,9H<^X5D0
M*OPSSG]BP^E/LW`PA8LKF/$R+"WD1/-YKB!:M)W?=J=.YUFMPZZ$S?`B-^OA
MC\V2*F:SS/Z!,R'#5*AU[8&!73"9"25^QAE-PH3%1=/WRKIP$,V043#!R1@^
MFR?-I[K"J=)VTBN23IVGOP8.H^[#P/:1^#FR5#D54Y]<I\$9J,'0?$WM.!A'
M1!,QE`Z.FLO)VPSG$T=B4C&CY1W+#HIFIT3$QW*+_(22(.CV^^B%JPXU(UTV
MW3@&ZB,'/P;>GRRAY:PO4<VVB=%P*U+2(/9%JVP$!K:$GKOGMP%!ML_P+C3H
M!IPL:AN-(4/JK3(OH[;$5I&*0Q'I6+S@)$1FB@85AQ_882WP&`&<KJ',XPY+
M@+!M+U(I&C:1)HVJ,F$PE#HTE2`X75!IHN,Y'.%5\8U">IP)D,UIS%.P*C'Z
M^V@U``LC\^F"BNYI\\V-Q5CUG.O7D7;L<5;P%2JN)$(.6AGD(JVA=ALH!5&B
M[;;);K25>F'Y-SKJDL>I<-=CK8R:T'5&`\<"L$6/2M`=MU5^/:$Q4^7VT(J+
MM2@?,6C6@NW*EI:T9G=QKIDN<%#8LZ=L8DKFP`7,+2M^]U[;3/6Y5-!S/X;I
MUWUH$.1Z=/GIL!/UTSYB]J&+TRM,"'ZA?VG83_1W()7Y*M&8T"T4T3-FQ5.D
M'3@$V2$R73<VM.TO-8+\WKS55(S:3%4@<B_4;IXL$N5GK^Y3>0M%B?/5[*,(
MTDI"VRL7J82&V7DE-;BW<=C#..QA9+M5<31PU2FNI@T*[A&3:?>!*2#8I9"2
MU'7;(H?:NNUC#!P4V,3#MT'XA!SOP4.N<-4L**]@)R./X;&4$IKN;11&D[:[
M&T536>I^AQ6-[`#[PB7Z6AD5^QW9K1X+T):TX?$=1=0YBCS?1R3\0B@ZH5&A
MXDJV/W(96(B\K&V0C4X79AQQ@8K?76B[=!)"+GI;0\[*RT7Y#?W_>#*>I1.8
M_3YBSV:\(K='/&=YHT;29\I?;W5XVU(WB4%+Q1HX>]DH6!;G?I/M$`T_K"0/
M*\G#2K(J2Y3#2K(2-!U6DH>5I,XKR1YUND9VB.27-P*).UZOU<-3SD*M9^QV
MX#T&<6JU($HKD.'M0R/5#E5JS._.:FFZ".*^809&S7*\YWR(EQU6.;JM<HHA
M9_FBJM3!7["TKHN?#/5T6_#$[Z,_(,+V<`:(/'L.'8>[#QPM0I83)^3_2NA\
M%_L)!<NJ+$KQOG35=/55L3:C[1I/4;LJ=2FX."G5#L,)<KM.A*DG28O5Q!$Q
ML92*Y>)>>C;.I7)9T<LU)$WDQ`#82^0Y.$N+*5F=E,L:H#0XC.^)N/H,S3\G
M_I05DF*-*Z,DM%869;#&$%\7>^+K;`N^N#)*3O^6Q1>L,<37^[T.C`/T%"UZ
MNQQGH-S=QS?,FUAKB+N/:I=%RWT=DZ(?/\6)N*B=;E`TPB[V\>.TA0GO\82,
MW=F=Z[VK?]!VDZ\@Y?3<Z^4I9[TBXG@AB@]MY&!\34X-H\5RE=$(./KJN1O"
M!_^$G`BYWS!+R!=?2**=(1?;O`I^"MIAQ4&?6#O^63;%%D'+UV-RLL\3_PFX
MA]4&=QZT8W[1?MG+8%OT=R;V$S"=5A=</Q7KCO/`W-CD!XIF^DQ9J(U%$G-P
MQY7_"4@4Z`VQ6?!+DO/E0D(/\6HJ4?"-\0,I""YS]0V!GZ5CX*E'U21BX$9=
M911\J6""D;FN;C?H(V=""+N=;H=>>!O@^Y`NIF?/S3U-(I:A(&"7G>VYS85Q
M]/U\2I-I-=41.)K1`AT<D#5%14'\`NO7(_Z_S\8&30*%$%.1PP<+M:^FR[]^
M]1"AN$?3:_2,?-%9!$EA-4<3BF>4UURD[*;MLCXY1:7U$$:D<]:AXIA"/HYX
M[.:QCW;'$DIG6=^#!>6T!)W3UB\QQQ-C&"M]+HS2""14G#?8KD_RJ.3KH_E(
MO;O[T[!]9S)[0Z6/?9\NQEYL`AV[WOMW[RY5MJ&RG,F]6D_SN%"BGW[WHE%*
MSW!=T7#=+`O+3>.Z<LQ..W_KYVB9A5NLZ/$S:Y,S4X'YMM%T$6PKNDEEU']H
M1M)6TCSVE;.K`#UE@*)HYJQF+J<+_^"A+6YOMI*V^]DQKN[#`V*`@/:1+/*F
M&4TI"G'PH>#T!(LS61E$I,J]:3;XVD*4?-0W^%)/!U_>;Q-\.=,B^++#KJ9T
MU*68;^@PAQ_"+3EWRHIL7H<XRR'.<HBS'.(LASC+(<YRB+,<XBPZC]0)T.+K
MG0())7EJ]\);4B&0./V8$U\_$T@HN>"Y%^;V>G_SD/ADSUYOWIPI:G?**Y;_
MXI`S10.GN6)M1E^7^R?(F<(RWV'7BZ;+/.#"^1TJ_B83;@B5!0G:.M-&,9U_
M'A2621+P]A,Y2"1N.'^O22A\!V<G1R*`73]Q=_9.\?TG;;?.UTT$M3?5+X`N
MM5JJO`K29;0C.>'JMA`N@7@[_?7<BA%KL!7M:NC>@@II(L4$JITM9JT[?]?-
ME'N[O592==`_T)/OO#RKX3>?[65($Y.E^*E>RR8LM7C80V0PL@D"DW-_V#P;
M<WEB6&:_T^Y\&1@]JV\,OII]*Y&7>^\/\P+0!<\J?<RG0ZG/#"??8X^7&K2I
ML9/6V5I=;FI5KYT8?>O:'%I-HV?VA[\;P[[9&9B-8;O;$;RB/&]_['_W=HCH
M3_X#4$L#!!0````(`&R)2$)C=_JI2$P``*40!``5`!P`<&5I>"TR,#$R,#DS
M,%]L86(N>&UL550)``,+>!51"W@5475X"P`!!"4.```$.0$``-U];7/C1I+F
M]XNX_U#GW8NQ-Z3N5K?M&7MF;H.2*)L[:E$GJ=N[Y]AP0$11PAH".``H->?7
M7V45``*H5Y`@*K47<3MM,3/Q5-536>^9?_G7+T\Q>:99'J7)7[\Z>?/N*T*3
M11I&R<-?O_IT>SRY/9O-OB)Y$21A$*<)_>M72?K5O_Z?__D_"/M_?_E?Q\?D
M(J)Q^",Y3Q?'LV29_IE<!4_T1_(336@6%&GV9_(YB-?PE_0BBFE&SM*G54P+
MRGX0'_Z1?'CS[3TY/G8P^YDF89I]NIG59A^+8O7CV[<O+R]ODO0Y>$FSW_,W
MB]3-W&VZSA:TMK4*%K1X_"T_^=_OS]^_._G`_N?#FR]+5H;SH&"_P]_>OGO_
M]MV?[MZ?_/CNY,?O3AR_4P3%.J^_\^[+G]Z].W_'_I]0_TL<);__"/_G/L@I
M88V2Y#]^R:._?M4HW<N'-VGV\/;]NW<G;__]X^7MXI$^!<=1`HVSH%]56F!%
MI7?RPP\_O.6_5J*2Y)?[+*Z^\>%M!:>VS'Z-#/(-)'GT8\[A7::+H.#<LGZ&
M:"7@OXXKL6/XT_')^^,/)V^^Y.%75>7S&LS2F-[0)>'%_+'8K!A?\PCH]E7Y
MM\>,+M5@XBQ["_IO$_K`&CN$#_T`'SKY'C[T3^6?+X-[&G]%0)*Q4%NN'UJV
M2J6W8X.]IEF4AM-D-]1=;4_P6=_)BCT*T-0?O0AW:1'$.X%O:HX.^XKN5N-;
MO?%KF@TF=+>:;FBV8<?PQTOVKQ9P^J5@HQ`-*^A@R^#@^*>XWRUMU];31<MN
M#,XRS90UPDTN@_R>VUWGQP]!L&+V3]Z_I7&15W\YAK\<OSLIO>,_E7_^[2*(
M,C[VS)+5NL@OZ3.-3S[2IWM:?XZ7]:]?.6F\[98$="=959P@6UCJI)1XNTC9
M@+$JCF-1^T)]F:5/CD#*ZDN=Q'^+[^MOB!IG,#2%:8EE-.?SA%X-WBR1>]V6
M&)]BI@-S,)H<?[K]ZO]P$7)"?A52__F7MUN["%AUNJG_^7/$IGW9XG'#(4^^
M1+FM$BS*7KCF5"`E[8R:^!CH`K=+1M`0,UERNB&-_ZHM$,'77\$($J[^$F19
MD!1&G]>1&9-Y2GA-@K4$T/!(A:I+EU(FQ^:\HH2M5J(@GK%U2[9^HDEA\E8Z
MZ5'=DQERRQ^I1=$0QXQ/\CB5--F*H_(NJA']?>_YU7LL\ZOW_>97[Y%Y)3M&
M]?SJ/387I2C'A]ZL^H"%51_ZL>K#*V#5!P=6?1B,52L:?>%<>??#AW><*?"7
MW\[2IZ<TC(K-69H46;`H<B5'++)CL,,)+O#"*.B=$2[HNERHQ4DMC\S;W-(L
MHOGDFIFD64;#VR)=_&[T-D:-,;V-`_2FMS&(>^>6.\8NPPP:2`A6!`6%J=M9
M'.3Y?,D!&N;<!OE1R66#W:*63A@/L2P()5JIY%%-O@7Q3WL[+HW&^([+"%UV
M7$IQ//RR8E0[+J4&#H)=I4E(\^@A@=,"([&4DF,2R@"U222%&!H"Z;%UB<,D
MR7DMROZ91<]!$3W3QC8!MEG6SS1\B)*'"G:4)H814"<\)J/,@)ND4DNBX941
M7I=:I3!I2*,:\Z35A]$M::7'))(%<I-)&E$T5#+CTR_]%DB7?EO/N76<-U%N
MFIR;5<;DE0OX)KE,\F@8Y@"R2S/E\$=`"9GGR@NVB@ABJMZF,LB-ZZTT,-M^
MJB.$AC\Z9+)OR@N2+LE#FH8YR=,X1.::9LDB?:+U(K2Z4&CP3$:-,2GD`+U)
M)H,X&EK9,78))C1(K4(JG8&<DF9/?%H\!DD:ZS?".P*C[7XK@=5;WJU?O;>Z
M%E*WD5LR!VI1[LM@*A45P*/3S1ECU$.:;>;+&:.6PB&XJXW6^CT*47/"00<'
M4]R!2CM`9LW#NHI?:'$>Y444QS3+?\J"*-%[#;WL:!2RP:UYHQ/$018+.ND2
MD4;\4)PH[RS-\GQ-P_FB2-FWF-@[`S5L*N,QQ`W\EBAF>21\<0*IO7L6<342
M):14A;<\[PY],M\&?4X7_&M,3GWWVE''$Y'T\#5,DA4P4DF+TH%+E2Z0:;C+
MV1HR?9Y-3X,87EC=/E*JWO`S"8Y&&R/0FBM**1P$,4'KLD(IBV/I_#G(HN`^
MIK.DH*Q^BFE21`6<M&WX46ZTC,1*;+[DOVP,:^K=3(VYV-ZGL,U5^"YVO+-V
M`/`2KTM3I+)%*F-PZ;]MCLR7XM?-86?J?XL2FCUL])ZO(S":QU,"JSU=ZU?O
M7-%"ZC*@E,'AR\[I?>%T45\E..YIA`YH^PRB*^6=%U9H\GG#?3'\?7Q-U[]F
MGR[F+XR1ALNM"J'17(`68.T&)`GO36Z$U6UN+D>$X(&72R=B9OYOZW@#0O:U
MDD9A](62$;BT2E)*XR"%"T3M^NB$""T":K`T&NY=A84X[_L21Z,P.G&,P"7B
M**5Q$<<$44N<]]Z(([Y[RYJJV@MP((]!R=,6C:$`FCT:A08N(ME@:LE44JG6
M')9/P\QJ>UQ9]G]7V?62,NK;R3VN)=>BA,OB8$Q]CC[]^YK?/WM:I0E<<W5Y
M1Z'6\?*6P@1?^9Y"I8"&52XHI3-S+DJVLLAN:3T]I8G=+2GD1K]3JH(IW29-
M,'HC'3+E#=($DQ^:A&$$6W]!?!U$X2PY"U91$:COVSCJC,D;)_A-#AD5T/#)
M!6676UL=`DK'LX24:CB8=D.+($IH.`VR)$H>S)=&=<)C<LL,N$DJM20:-AGA
M=6E4"9-*FKPED\5B_;2.R\<YRV@1%3@X=<5:$:[BIS$S_5"=<-A>=AE41G[B
M907?>>NEE4?#-0>0BM=?#97ZG.I`.P7GZ4)LB">A..J"\*[9D[C^>I_S9QVJ
M=:R;WFC[!7V*46\9N"AY9U)?I-)Q1JE*F&YUFMG0'M)QY73QYB%]?AO22/@L
M]H^NJV)_^DV@N*$/$2!/"H@EW"FU7FP,2ME``H-T,MX)8P$FK=<$);:R/+2S
M/UJ<47A+%L^2D'[Y&]UH"R?)C4L,#<PV,SI"B*BA1J;A1BE,N#1AXC[84?FQ
M.V964:SVSV-Q006JHD#S-Q0MKP"D'2Q`QF<KUS&Z(4"]H2P=N;';70FS2X"6
M$"HFJ)!I*2&$V10BY%D#?+!CPH"$`.8B#AX4Y>K\/A8;E+`J%K1^1-'Z*D32
M[DDE0T#(1UN?K;,,,$;Y(HC_@P:9WAGH1<=B@`UL10:='`I>6,!)F[="G`AY
M`@I>G8.8K/Q"X_AO2?J2W-(@3Q,:\O/2[NZ'@_RXTTD+[/:T4B.,@D0N"*6W
MM'FU,`T(:![_#JJDTA5'WMF_^B/5YS1>)T60;7BFG^YYI$%N7!)I8+;)TQ%"
M1!HU,A-9:@W"53PRI'2&-W259D64/(C$2/KEET9\Y#6L$71G*:N41<0>(T`M
MB?Z0DUJCS&9%2DL>V<397+T5UI:X(S4N=Y00VY1IB2!BB@J79N>CS.Q6ROHC
MQ/7Z/HX6%W$:=#?C-3+CDD$!KTV%A@`B(LBH-#00@H1+>AQCMK<J;A\#5AWS
M=<$S&#+?I7>+1J61QQN'`G1&'8,&(B(YP-1MK39NP!P1H4P:VC[WX,3"3FS[
M7+"_J:8S!MFQ]^*T<+O[<9(@"B;9T&GWY<KU=[D]QU7\LP9V`]PXTY#TPQ@)
MJIHOM1A"MG2QV;C"]VH&9\H`MW_OX&FNYBI%5\C+_=X60.6%7B[AG2-&6-I0
MZ.17+H;DKNXV'%N44(B79+T(WA#TP@X)J)(AM10^EG2A&9@"HH3+&NDR1K7O
ME\#@_:C-\$RS^[1.RVIN#2U4:2L>!"'<);XD!I,\IT5>;JEH+I199$>]0&V"
MV[HXK1)$TZ%-Z'3G.$+G1QRT.0ORQTD2PO_`@Y+G(*;P[*0X"[)LP]9%/&&5
MIO".NJ.^Y^A3G-8;#Q=%-+3K@U:B(5,B;-%+%O`/NE7'0<C)8I&N&9H;NJ`,
M&9LE7=&B[#JZ3FA4&=6K.8!O.3>#/!JR.8"4;C64*B2K=8Y(0I'<WI\ESPQZ
MFFU8.31E;HN,&_19!M>.\KS]'0U%%*#D.,Y")*)(',V\>*19#5Q3L*[0F$Q0
M`VQRH2V!A@U*6(K7T:L@@BB(I1PB5K1F=:9"=@1'9X<2J,20EA0NEJB@=9G"
M!<FBG#T'7`,'65QXXI$B5G;X(T:1%D%L6IN[$.,.C*`DQG66KFA6;'C,*WA+
MQ&;9*]AIT,\XS"KCQNFP@V_'Z]#+H_$V#B#E$4JH\,42K>01S6,;'M2RX:.4
M]#1:F39[%&)H&*3'IAZP4&WSS)*"(8S8.DS`8JR??EG$:SCZ_BE-PY<HUL_M
M753'72*Y%Z:]=++KH:%;#[#R4JM2+0=%G#X+WE^[3K&;LI[\E@Q7X[FV@FC(
M9$*G]EZ89E,-]/;R>>.'A16XIM<R,/7D.D5'!B,/?%!`W_H8&]ZAS87(O_P+
MCO:^C(+[*.:!X]T.-TT*8_+"#KS)%;TTFD'$"E%WX-E01#(=KLXGKH,-G$VX
M'2]UA7T<+*D!JXZ4VI)H2&2$ISU&6@EI<DP8W\)!7SWN1:)L34.Y6^B+KI,?
MF4IFV!TVJ84Q$<J(4,$ID"?Q5@$'G<ZCYRBD2>CFE+32H^:J,$-N):Q0BZ*A
MD1F?CD2K.L1O6.GC(--EFCS<T>P)<FR8B:24''6>I(?:FB#)8FC(H\>FFQ+Q
MEY!IP@:TF.D>%TR9A)`/Y>LH*3=YR#__\;MWI$A)1D4$Q%60%9MOD/#+==#S
M/=JY#7.>QS?KJLUY=&L?B:$;XYH=Q;K]IQ/VY9S,&X!J290NRKH%>-GR27SW
M&"X]+]K."P>EQ$Z6-`ETW%PVZHV_D>A0#'E[T:"$[<:]*^`1YUOFQ"X-D)TB
M::7&3MVB@-C-U=(0\>Z0S+@TV5CPC62<R;W]#19'T\_#^'<MUK.M/LY$''"A
M8Y3>U2@E/$VB+;-GM--FXWRY(8?EV`/B%43%$W_6D81G:0*!<VBRT+/#J#%V
M3A4+]&YV%8TX&A]CQZC*N%)J\/MC+1WR]55:L/_Y]HA\QW_]([YE/2LG?^3X
MF,8AS7*1;<C]Z,VB[LE[.15*X]J,NFB8VA.P_.YXJ_`'(E20G-GU9B,6_O5C
MW"O@6&]670<+R/5.IL5CD*3Q$9DEBS<$,=?:6?Y,;V"5DOZR*FK?MRK$T/!)
MCTV?4C$7@9S^^=V;=^].8&N</(/>G\G)NZ-W[_C_)[F(\A2LB\<TB_Y!PS^3
M6PH/T,CD1W)R]/V?OCWZ\,?O5&*U;B22@,(8G6Z#19%`!`&H4X-^>'<DTH."
MX#E=E'\]X7\]J3]["I_][D_OCO[X@Q+=#^^_/_KAV_<#?SR.6-<*>1*2<@.%
MS4(HV/CG]]\>??_=#UJ+.#IC(^B7\36Z).8ID:#^C7E'!DT'U`#39!'4=KT/
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ML^W.=;KDEZ[)]M)U]Y(U#AZWM\59H><9CU@;\CVZ:YKQ+`9.>^IZ97]'%;8"
MZ4\O=)IH.-L+KN6,8[O!"F\#R#F;,`193E8T$[NF2&X.M(LL\FM,ZLU?IWJ2
ME?R14U<`/2F[&DC)J(%I(Z&TG8^7=3R)81_&50J^V=8&;F.:D$;-LA9$1X:)
M(R"\[-*G@G+6\LTS33(H1Q74C+.G@^K2KCR93P^3"6HH[EUNC_"OZQ-\]VLI
M)G5_;+072D]+O2Y2?EH!.Q+U5'>=HS$Y1#(E;-PJZ+EX<=+T=+NCS[+%00T-
M7=VQFJ^%U,L5="1T7)08-3R1SF4Y8A#'2#+'A4B;7-C6'U)YC(L/K;175NF7
M'1I1O&PR+CC:3,*TSNB1;]9-Q2N?+,L+U)EF>X`TTPO=>F*6+-(G6F<\LSR=
MT$J/&^;7"+D=V5<IBH9/9GQR_%Z0)HT<@)4"DEQSMT%,\QOZ3),UU4>TEZ1&
MO;V@AMBZAM`604,6-2[IH@TM2`Z2."AQEN;%?`F!J?/;--;/@#I2XXY42HCM
MP:DE@H82:ESR$)3S."T/($=R)HB#&S]E:9Y?9^E2>S6Y)3$F)Q30FGQH_(SK
M*H<,K$L&+D%67(1\';/_0+(M=$OYE:>?:$*S()XDX21\BI((!CAXLC']LJ))
MKLU-[:@\ZE#3JT"M$<A)$XT7Z@57>EDLE(_(@U#GEXB"E@%"A04D0]I\10$7
MW,Z#^=@EZT*:BE%*CAK410^U%<U%%L/EUO0`-7-DX=@(U`9)A7*:'"HFU$40
M97Q#=!+^USH7P1WFR5F:/-.L@'0;$%R-=8LR:)$R8E1_&Z/%D]JU>'6TJ;X&
MO#NV?5!W"0EFRGLZP=8021.RV)H2U\W`\[V4UG"XNI^"*('.-D\@;6.)73?U
M4,N..FLSP6W-WU2"WFGG@DX.R9AS,D6U)#RIN,A2]H\;)HCDN`6*E`-6RDHU
M_0*N?!WECX!WOH2.9*@*B][8!',J1I=L1B54Q'-!JB,A;:G`DA/\&@X&5D\I
MS.L(26KD_&4JB)U494V1<9CS@V!.0A_@Z-<T3U/#4^0A*]]Y"3%L:<C*A8R9
M*4K)T0,VJJ%*D1K;8MA8HX>H#M$8E7/\DC[?(.+/=GW"AN`G$=QMS7SBO%Z#
MG-)EFE$A=Q=\H3GSLUF09F&4!-EF5M"GO-<3PH-^<?QCG8-6G7PT=)#/X5H[
M'[Z@RNG`/3<*&XW/40YWTMA_5CVW@(_@Z+`WE*D%2?0/7A6\K)IZ5$J.&Q=#
M"[4="$,2P^;P]1"[5&I+LB5SCF5I#-/A-%.4Y#S*%X]!]D#GR[,XB)[@3:4]
MAN_NYD9-[+-GH5N9?W:TA6:UM&<!I(,9MO@2&Y;W0?)[MEX5BPV;(6,)\5(/
M#^4,[93-U_0'=UKI\6<46LCR;$`21<,U,SY%AGK4@ZXXH#0<G#0%QGV(T`76
M?FI0_8IKAB?ADB\`)'D:P^,`&O*D+5'SE`0')^S35%.@C"F/&+/S#-C%-*ZU
MD'ME]%OTV.UBFTP.6";572KH(B0H+;#N4Z0D>:VQC%AYK&?6'9E1HUBHX+7B
M5#0%</E@%305G5J>M\,K99PV',S9IL%LO5[3S8QUTGZ2D"HAJY.0MD2Q>3HS
M3-M#06292%L=9O(<1+%PSXTK]F44H=,@CQ8NW<[%BC=_YEY$K<>SFT#L$YW!
MFV_T!)49<)B+QMN*TA(.<E>17:L7DKQ\DR0\CV)P]IKZLFJ-25['(C3):E%!
MLYAVPVD?O>M8.T?D'DSP"SRA,(*#A[_0Z.&1H9D\L[GP`[U:0T3T^5)ZNV1R
ML3UMC,G1G8K79&PO`VCXNPMJ*8%B:>,X$$:J."N-!VHEJU$SN>RRKL\C>UM!
MP&9;$1WXK#.!G=$6W#MQ&I5_KI_RS9=G0?YX$:<ON35[E4EEW$#`=O#M\+YZ
M>31,=``IYT:KWF.F2P)*A&NA>YW))C"`CA\.A#0\W7S*:3A+ZKOU$TB-(J+`
MFBFXBZ&1UUT[%K2S].II!0V)=X8NW;>J-,A6Q9B*#</9S'LT[:``93V:@:7%
M@=ZI-!XRW*4W%.H\BFD3`2,.H&5+=$:?ON[A0-\8[9W+H:JG?@<S]`>\\_R0
MI9+3+VT?S_"XS.6'X!F-W(/X[A`,Q6OV.3B826M/%KAYLA&3@#U!`&IQ?V2^
MG"5LJOH`CX(F>4ZUKVUL2J.F!',J0"LSF%'#.Z][P>P2]9RN&#DC<6&-/V9M
M6($I8E3;,3KZ0[FY\9_SC30@VP]2]H/_W^IE'[PL2YCMS2]95-#S]"71'J_+
M@N->A=`!;5]LZ$JA<2)::/)!1RG(2<7=!0ZN?$HR&L0076_[,O&<9M$S?YVO
M&Z&L6F.RR+$(34I95-#PRPVG\K8I<U5A+<G&)38!6W,GAH-W[>'W(DH"-N-+
M'B"<3<Z/:_)%NM8_2'97]S=9LA=*/VW2ZZ+A9D_`TIR_,W,*JQL-R\H265(L
MEUKYVS2X7,:6'0Y/![N2HS\=5$.5G@ZVQ=`P2X]-E7D05H*+]`G$$(VKLV3!
M7'?.)ISB?V<-ORV6&$Y/1_J;&?DJZTZ%[%Q;[64##4MW!"XO*1$/TG&<OC!G
M3"_2[#(-$B@0%%6$$8#]H&<>H7Z^/`U"6%IIA^L=#(TZ<.]<T-80WML*&C+O
M#+U+9_:S6!9G0F?OV]&:_>[JF:JTNH=T[[]$Q:/J#FLOS='VIOL5I=ZJ<5/S
MSK#^6+4A)52[+RMF@+PP"^*FH*?S*Q1O)]%LQ0U6$MW"ML<CR@,V^IX1J=`U
MEQEF[^!41^21QB%_I0@QBSTVT@&B.J%L/#?(KS'`TW6P*0\A)XN_KR,(:&$+
M66=6&?7AJ0/XUG4'@[SWX;P'2'EJR,8!YB-6#,<CFUL"Q:[H"[F>DI_3.%RD
M.+C6?G,HDEQ_I,5C&MI)YZCK[[FII3CZ]Z0:131\[(.V2TPA36CY=`"<X8!!
M%C4+F+-',)XWKTLH-@U,UW'Z6AAM0;-;T>J%33]U[PS<';-T7TP8Z5QIX7;X
M*7.\M83D>HN\!S99B%W_&[J@T3,\YG+>/E.I^MW-U!?&O(,IZWEGZ0Y@I1.;
M4A"V=DI)K"RLCMO[;*RW=/SR3@'?3+B&PJA,>Z;9?9I3T\+$!:SNMD2$Y?Q/
M+L1U1F'KZ;P\M2R/J9B[YX=7QNM]NQKSR\D^!3:3U<428G_9`[[BV3[?KZQR
M7O!1/>5Q3\4PCY7MO&AG:U;>I.C);96J7R;K"V/FK:R'W]=J,>NH&547U;!2
ML9J%7`<;F(%`1IK%(EO3G0[3W8SAF(2Z%-AM6FJRA-CQ]H"OG;JNA*ZXNRVT
MD64@<G_?I:FX/@9POMQ3L=E=&UV<E'ZX5:$IK*]=4%-7;,`-\`C5:`@!E1T*
MZD!I@Q4TSGEGZ*J57M[G$:K',Z?3=1XE%$[8V-!374I@P])RR0:?H-`ZY%T,
M>3V?<BZH\=3*:@7;$>K.)9#FTHT#KO0EH5G^&*U:H23%L=?/9TB9SOHU&V2*
MS34K%CR7@@.2%8BXUIS!@%=F6PMF9+16&SV3;<CE![EAQ,.KPEO;5:G,)\VT
MTD1*W6V?96.4B/-1_J*+S-;/!!+'K"V<HTN6]-%,+78`K9Y4B!>;M;,M[QCP
M?$+@F/F<.B@-(2%SEBXH#?D)-B2$_Q@4ZRPJ-JS#GJ5Q3!>\2\)C9>OEEUTL
MC1R,?=>B=B*#]#6#A^@[8U>D!."61(8)N&PGGJ*CSAH)_?@<'C&RL0RJX)QN
M@SVP@FLJS:HU)HD=B]`DK$4%#3G=<&KW*J*G%5OSB3N$+47XT^'OUI3+TQE'
M`4\6JNO"TR]25A,7A=%NSC@!KR_*&*6]4\D9H@.+4&;-<=\$V7L7!>OVUG[;
M6J]BIU:/V[I3&]6;6Z]DI[9^Q+WO3JW1$`(J.Q34@=(&*]Z][][0I8@X];-\
M?#NUC9GT+,_7\(YQGL&<>KX4=WL=IN`Z15^K(G-!=(L@M18:-CI#5?G6E;3,
MR?E"OI$H`&$PIF:1^6V,YJ,C0_4T9'U14(*K8UTMB))H771V;MVG69:^P%L`
M)!PJ]\0@:K8R3<PD"<4?*&M@4_:>G2SYV//<H:BJK<\>9K!NXO<O@G.V(/YZ
M&@G%&QVV\T;<H8M+&KY<I@:ZSG%VQ%&Z3S5&\QYD\YE^DA;E35=<`_,-7=4]
M[`HPEO?*-%6B%Q\W3[@9=#M9N%H6#<LL`&6*16P!L@IB4JEU(T)PJN%@5\-[
MLTY3S75Y<#2[OY<U/`W!.NB:H;8KCH9I=HP2V2J*0?P"'FDD*K4P):IO^NEF
M;^JST-#H^1I!C<70C:-*)3SL<T1J'E.WBQ*R3D*:D?/9-:EW97#PL5FZ&QK#
M%/<ZR(J-@8IF%5]CJPZ\;GSMRJ/AG@-(AW&6/PUA@VTF++#_AOM`V);)[GN=
M>V^68MW%WF_W^E4<R.AQ:P]DOBY/9+Z!?1YNC-QO&H%FL1W/\#M.20C_`[NB
MST$,O?":9A&$LVB_BS$<X+N;&/O61-_"=:]0N.KC(O0.R#6)2KD('#&*6VQL
M;<W_0;=6/87;4A=QPCIREFU85^/)&=Q;M:,X<OJG%6^9VX(-=OV;50=="OJA
M:T$2%.2>/D0)!*6!@PX!Y[]GPW[PT+#3Q+C_V@]XKV:E\.S;I4%'S%:Y7JUB
MGNDPB*ODB+.$+7Z?^+TM6^)*5^U1<UCV*U(KG:6;*II9?C^\4I++AC9IJ"$Y
MWJ]>WD"L6#;^::I`DAKWU;828OLY=DL$#774N+0Q>/&<&%4\+W,`;.]I):%B
MB0`A9^,T7V?4XLKV-SOV9'J(2NB.V/O81$/M@0JB2SK16#\FH?*R'Q('RL^&
M8=.;AN?KC$$42PX^@>%[D+I1Q:XW;DYJQV*T$U-;E-"PU15IO]-]ODALW)`Z
MU(U[.'D3X"_2K'H`.U]^^#"O'L!60T@^2SX'600'?=6?IDDA7](;T.YX]_<'
MK(;M-?\!C'IG^=`ED9TRW#*(N&U^9K=Z98^PJU+R0\FS8!45(O&;9=HFB_N8
M]^I`JR;`75GOU'0$J(@IQ,,'U90*0MA8+E+"_ON)Q&FP=RHJC;-M7P.K;X>5
M@%0=SZ8QFH-T@UZ[/K.X=^:X8W0?M,NH5#B<DFE.4OOQ<CX,6<%9&3*^=:`[
M8=O'():YIEO!72>A9FO>*3Y8$>2\9_=%(^<$+;/XU+=L.C?[#^1*;^@B#O)\
MOBPS0M>AY#9WJ7B0\&F5)K"0C&D.`0BF7VBVB&#2TLVAW?0)@Y@=S2D/6`FU
MYQ[`IG?N#UR0;@\H+0/3RYNQVPCO&YA'4)&78+U*Q4$??("'KZ#E)QJJO@[\
MN%]X3&/6W7-1';-D$:]#\!"0X#5-)D611??K`J;R=RFXB#0IF'EF[*&:<FF=
MYMZ6<1X9#EPV.=-*##X4R6V&V\<@JY9]NOIHB8PZT"O`M5C8^!TEDV1\.C:0
MK]FB5\A_<Z#AM!,F8K[DL1YXJ`>5;S6*CS;\.8"NAS6#+([AR@Y0GHAYB-!Q
MU@9Y15^NIR)`DZI0)NGQLMI8(6\SV&A%<9#$BD^ZS=!E",*\7:85"O=ZIT%.
MP[-&IO`=ECHZ0UC6IN:"NJY)U5:\<W=OZ-+%!S!T?`_2K13R54AP<DQ@GI5%
MBZ+:J4'-=3&X#T%VLR4$;'<IJ@/=36:P\]T!^P"$'V'6*%Z8YGPL:N^FWJ5G
M?`](F\S;677,:4*?PC3G#"YZWDFY`UC%;*+4YK<@.UOA13K&QI]C"03Q]ZB"
MR@`V_K4+UI>%0OM5<;$%>2]&#ND1#S_U;59/XRG_+5U`M%']6Z@];2*8(O0K
MONO<V&K0>Z\8LA32!(+3OKIGP7I$0YE<X7E^;YPR#=PEG(TBZ!,]*\!Y!OWJ
M>T6_8O3O%J]KT+BB+_R770:'ABX"PJN+X^KL:T7L]%6B-;.4\7&51<]!0<DJ
M#A843U('8Q?=D9J2,@)N:@KD['1?#3O5</O3<X2]B$8)RN/[ZCQ?N0HTBH^V
MYG,`7:_P#++>:>0(L$N<4JR^%K'W'%3'C<99:Q>:?J/`16L\IC@784L8JPH2
MWKCBM-+G=<W5>#*</-KUUF5;'<&HJ"V4ZZ2MJ>N=FCL"-J64JRZ<R\F-1O![
MLP0N;D[K>YNJ+$2N2EZ\GK$`2J>GU/!.K%XPK5.ML'T;]\D60L2[ZQ,EV.'U
M8DL1@;M3%,1Y`?`J'C#*4'=B([Y!61.6V11^VZPR)AM=P#=Y:))'PT`'D,X/
M<3S=I[[.TF547*:Y+M]=^>O($7.>:7:?YM1T$U6!31.]*GVBY.N8"1H[\J%=
M,>9+ZPC#(0U<LEVNK!^2$7VN@?MX4F!K'14^CQ?!Y]E#D$3_$-&'DO`TR*.<
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ML9;$,8>J`&VV0?1LLR6SRKA!C.S@VX&,]/+>74L/D%U6?7C#/,IGYDOF-[/I
M[<%>"/-+'9!:WN1-E&(CO@C6@FR\!)9DO#>^!9C\\K>6Q.%&MH!F"4.^YAO_
M;(K^,PT?-+$Z;6YF/Y.C[L@/4/C6COT>]KPS><!"=%G_[1MR/KV9?68+M,\'
M='/WA=F_-7\?T;')L!H>;?NC=P+H$*G"2&%Q7O=%'[^DD1[7Y1@AM[V)4M0[
M3]SPJ:*%DN_`$9S>'>R!8?WTC/FK*A24R2?8-$9\0N@"O?%FT"3NG2'N&.57
M@?S1']?BN]B_.,3:&OEF3.M$#FCM[H)ZZ(]^3Z9/L<SGKQIE[[3<%7&7I-^_
M(6?SCQ_G5^3V;G[V-[X7_<ODYF9R=7>HR0WTBZBHIF)G:0(7=6BRL.P0.:F-
MZN0<"]'R=!8=[[SJ"53E\TI-[O):NCC\GJ%P[LZOKY%1DWKL5,!6"H]>%KQS
M=B_870;_43C$V=W'*7.!W!^>S:_N9E<_3:_.#K>Q=1%$&;_-_9$&`%.4PN`.
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M+3FUHN.]Q#6#W;Z_5<MYYXH#.#F[<B5-N#@.U]4I@W4]:9`?-Z>W!78[B[=&
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MW_^2WD`W%_A];-L=F([0J'<4E`!;%Q-:$F@8HH0EW6T1^<^Q^9M.DBGK+J)&
M>MP-0R/D]MZ@4A0-<\SXNA3Z`7;\IA?3FYOI>?E`XNMSNB"L:4](FL0;-+%$
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M@0HF)\Z`(3]M#_G'/'!S]'209=HP'?!3SD:F:5Y$3PR7;@K0%1J3_&J`3>JV
M)=`03PFK2YM/(E]C+8:#%#=T$0=Y'BVCA7%JJ)`;]XZ1!F;[SE!'"`U!=,CD
M&V\=.30DH=$SA*?/[[(@I,R?\@Q^D\4B73/_MOU]$L?I"Z05NDBS\W1]7RS7
M<27%%T4;?0T-^(F1J3EXY718/9A]3!UBZ$)U^U(E1+:V^$JK-DB6:48JDZ02
M'S?C!J^!_IE:NGJ^<V\HBV%+P-%2\L[,ODA=,[@0H8W#D=\N'FFXCMEL15G2
MR!Y)JI>%4=\"]R]:ZW6PN[IWJNZ.628MQ#@#K]B>=\!$-1"OB8K'H"`02&B1
MQG!"FK&5#3C.]#Z.'LJ+^4QZC,SCC40G=L=I$/:1A\;B(K62WLGF!,^0D@:I
M_ZLSHIRMLXS]BZ-T=WXV=3^>SZU0:K=GUL62&FE'W`=,F63/;&/W509A'UEN
M++Y**XG#5]G@&?+>(/55?&74@'F5%N<TCQX2N+`TR<OL)XV4*-N=Q\96YS7-
MV+C]!"L?MMK:_CG-(QC%+U,Q]/=TA%ZQ^?&R")I#[<(]`O/>]3'6ALG3)&E!
MPAH.FVR31P&(1%M$!TQ'Y#(HR5*CIB:R#D-=$>\D-.-2)2M".N(`M$;/<!\.
M](I^?+6M(&I'JM/R3K#>4*4[`2GS,'<T>R)#I,KJGQ'$[G9Z*&/(#F)Q4LZ:
MWJFU$]Q>^4(&\G6ZP)<!L]WXOO%&LD%XO."7-L#;\)<Z21RDL<&30F""/%EL
M%<;,P6%W0$YJ?O-Q6)R.@PX.YK@#=<S0@6HZ59?N=',:Q+""N'VDM/@I2]<K
MYA2=<W98U;VD[W`LE#*3AT77.SEW!"PY.K:ZXT<J$!\SS]=/*W%<LH;GDU%"
MV`*5/#/SF*YZU$6^C(+[*.:G2&4/"^?)#5VLLXP5G=^!^Y2D]SG-GL7)TVI=
ML)\9@YB6\4W083_EI3,<H+*4'6?`[^#K9,,73IJ>/K+_8G./LN\M81!YYH-(
MNN1_*=\[_2$GE_29E?L#$V5?P=8W13@^-L$V5QD3N$J3K%6#3MN[A_B0EWXY
M>$4I>^5@7\'7)X<NFAP._^DIR#;0_QJ]\:DYI;O?D!@ZXX%6"5(F'.L"P:8Q
MVMK`#7J]+#"+>^>>.T:'K%>8U@';S;JS(%ZLX_(-PM7Z"1Z)I1GK/.<T29^B
M!/YKEBCKP'T+=IB/^-FN';*"U%N[0WS!>U<Y:+$TO6O;N;R]P#ZG11#%^17D
M78=3M/U>8NNM(7J1;2MRCY?9.E/>V3P,_AU?:I=626T6QYBQUU,V2R"P@6R_
MFF>1IK!@@QCVWH,.41KKB_5[U3/(`XT-EU$"@QQ;=$3%67T/^5-.0Y4O,4F/
MYMOMD&O?K1?USBPW?/++\X1OJ2RX2O/F.&Q]XO"PIG=%VQ=#FH[FJCRFC^Q7
MH*83=-/TSL6=X$JOPEJOO\+J]5?@\/IKI+:[3`/PUY<TR.EEFN<4"I4^4[BL
M/%^>!B'<W%"^?^UOY;?WX[3J#Z)5$_H`M]U,%[OW*(/\3C\D(=RQRH06DC@8
M#J]V#)['61O9VRN=[W%41>-\^N&5MCM+;1@<-0\&X:+,K]P&DG"JZC>1,,3/
MV,Q1%R_`JC4F/QV+T.2E104-']UP.C]6_95/W;BJD7YC-Q;K%:>;L]8;Q?E2
M8)Y\B=Q;T&)GK/'0_:'37J5P;';N<D`1M<?IEO<LR+(-G#T]P<Q-=5!U16VY
M9@_R)?^>;9"JLGO#O3Z#W(,.43;E:^M\M^?6<#O!PY/KLR!_A)O`['\@_\9S
M$,-6T>?95'E[6"\\WE5M&^#MU6R=))8AP`FE=,6%"0J&P3_H5N50IS;PRJI\
M>BMZA88<&L'QSEI,0+?'*"HI5(0P(93V;$&6+(1PZ6$.%3*\S,?<3,6L88)6
M=+Q0WV:PVS#>:CGO0Y<#.%V^=NX;:"5_2*=@]P;>W("E_R/N^&X]_J`]_2XM
M@MC8N%V)T1I7#:UNW/;/.'JQ$E.W5;G085NU'%$:\UG=)$\M.-X$SP1T.[E3
M2>%H<1,T:397#MWQ5OA0)ZPIO\5Y^YAF!;P/A:UUY5F@4FZ\4U4#S.UYJD((
M1]L;D*E>ZAX7\%(7SC".2)0LXG4(%[&J^=R*&3G<D3L?2>SN0"DV[FAN<04*
M&7SCNI,W$(/[X7T!'V[L3:\4&W>LMS2]0@:'']`#4P_]AV]S]2Y8GQN7?2UX
MCEGJ?+.RGSH.?NV$V?F0".F=R2J%RF3!EK<B/$_.EKT7$+[GBA8B#37<(]!L
M!/?0'W.+OW>QFAOWSLK>>;LK8L5&!P_81!):P*0)4M9_'3/Y;TCPS&C+&5VD
M//Y`FI`<\@8_IG%(,R3/11054)6_>W\?KC0OW.O18L8SJ9T*:>&VT09FBKL`
MUS*]S?(5FR/F!WRGT8B=60X$CF%X)6D?<7@UD%6!>#NBWNGCAL\4BK?4P.'G
MZL"M]F-ZM>B8_LH$MNF35'+>B>,`3L>:#;D7@2^PD>8B2J+\D88_I6FHF]#I
MA+T01PE829V6)#[RJ.!)X7E*&?(`0LBH\TN:_3Z#$9>QVDJ=CK`7ZB@!*ZG3
MDL1''16\+G5`!@)TK++T(4.3$+,NPDWP\A&NY41!;.5.6]8+=51PE<QI"N(C
MC@*=E#HK>"%/E0P.TO#]VKH,M^O5*HZTB?=TPJ,^LS0";KV;5$JB(8X1GG);
MW=-EY^:4S#:?Q'<Y68E.N8.-HT-N`W`W0N;^%$0)[">=;LJ0X#=4!%+('Z/5
MZ49L.-7/9*N`WZ<;E;&;*/_=]'IG3`!C.H[Q*[;92<;[.AH'-WJ1];'L20/!
M$0$,Y.M+OA-UOR$E$-)$<@0_"##;'+FD@L-_55HG@`G7VRAC,UQ:GDBY*J/I
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MQV/TPPG@-B#XD&3.Z>+-0_K\-DJ8/RT$E<6_NR06?VV4FBUO>!\3,0`ZE625
M'H.<CI"!B!91[Z1SP]<E6"6$[-K*9+'(UK09+:)ZP<T#YY<O>C3=SE5YU&"#
MO0K4"E+GI(EM^M\+M30Z"^417G%<09CD:M-CVW4:3X=5TPT7K=&F<>Y%J*=S
M=A7OWJP?3O7#K\DAW__"2T2'Z[Q*L5&S`MLN\"ID<+2^'I@R,3"JN[KP&+5Z
MKWJZ@1W7-.'[N7%!L\2TS;"3A3%'LAV*UAS.>JA[I^'NF/6/D^_3+$M?>/85
MB%J5\WP^?((?Y&290C17+!QN1+'654Q+9%06*L"U:-;X'0^/9%!=HOR-B60/
M&P+!9P)(!<PF0<W8X#BH<4N3*,W8VD%[.Z\E,6IH71E:*WSN]F<TM)`Q26%P
MN019)SED#&.^(@%A'%S@N*^##=PRX;=6:'@=9#V7;'V-C,FHW0K8)%T_"VAX
MN1-LQ08#)2MA!+:K,F&(_2DKD`08_\@<Z_H)!GB31Y.DQN2@!F*39!T1-"Q2
MXY+>9L:0]'?^PD:_/^2D#N-RJ&4_?;FF(@[HO!IH#=,=1YWQEOR.\+<+?HN"
M=[+T06FF#NZ)4W,EX;#8\+>RLRW=O#/&`$J_^#KGD:'J^)X)3*22X_*_<3"D
M#G5U6B\4==-&E>2H4VT]U-:46Q9#PQX]-HE$-,])#N*"2@[!Q$;JJN:YIUH2
MWWTA"TYSM+<#31/@]#4+X9!6Q//13(@WJL',77>T:4/?XM33!U=%[]UZ%[2J
M(W=0)U$5Q8DOMJLUS!'&%4QSEG01+.#,;'-#GX((8J/4KNTL6+'?)+KN:L37
M=I][`74;@G8+WIF\%VSY3B6D$:S".7$;9)V$5&1)R.AS&C_S0)DB_>"R_`Y>
M;L\2!C7(Z?8:EW6VU-^,;WZ[%-+&<),-U!QW`"Z'8!$J8?.,1=!\V*6@9K8P
M_4*S1<2^_PO<-4V*_)>H>+RA^8HN"E8\'C[M%J*GS1-(.A&S"66EPE,MJ\:R
M_6V.-KL8JOCUK&-?@][Y/60II"3SE5GR4MHE+\PP<^;<,B=[(V`?@:=`/,4)
M?(#04KO,27PLXI\=[)(-+7ALMKQ5WEF>K]7IB,WR(^ZRV6$W=MCTPCB(Z(!0
MVKNG1<D,B4\1U^O0:E@V#;2?LBWE^3IC8\(US:(T%%4A.MZ*/[2N>Y1NJV`'
M0Z/NQNQ<T-9F36\KWMF]-W0IHI+PJ*2,<EI[RX:OA0QC/&'4JR`[?S\Z`-=-
M=A!0W5Y,!Z;KC6`GNA7Y?CP7KX@/-$6X#=@``L-25(AWSX8KE7K9T:8&-KCU
MM$`GZ)U++NBD6R@@3AKRXY"AWN[XR/[OT_I)O&<0OQ<TO(B^T/`ZBQ;T+$TX
M?.5*:@"CONBU>P7H>-C?(DK"[EP,-;,76V:7WNZ(+,$&68$1]GMIY5`I`5D]
M/08Y=?2#1O'Q4@/:06_3`^IE<?#+#M#PD'0QG&,<:#88/20\$DA2R`6S]!W=
MU&,ODZ/.$0<H?&NZN(<][^0>L!!RY&+F((^%@UR5-K>>$F[\57\](K1X#)(4
M26S#.K#.A,VDG\2,>9*$'QG(-$SC]&%SD6:JO-66AQL#V!VSGPQ6#<W.LK=1
M;+<3ABJ0-/'8=DA(5UF9)OR\+DKX^1R\Z!:Q`/%VG&JIR6=;/>JPH^>;^,IB
MV(C=4D+CZEV1Z@X6Q)P7,^/@G(.&GU,(E,F/Q8.B'_74!OQST%0P.QE5VLA9
M:8`LY5BKA?!2$\*N7F2T3B;7DYAJ==^T-!7*1DJ5+FI*&@!+U\4@QNZ2R6[O
MBV5,&B\[J^X&ERUWZ*5"S3<;585P=8V@@YI]"J!2C'BX^?KUA@:9.8CA'KM1
M*F0?@^QW6I17R,ZC?*&(Z]-7>;2=JMX%JO>MG#6]TVHGN%URM61)6`J/?-.=
MEZ0\H6JLIZ2VD47PW&VW`93V4@X2P&N8X4-:V7ZD00YOD><0S6R=P3FD>`^:
M5?_)[R^9LCL,:-_7@#1(M>A&KKV,>_=%ARJ1LM?P#Y#26AE=OK;(7WHU;>)*
MBE!7D+E>>$5\2M+[G&;/(EGU:EW`<X4$[LSR+:)+2PJ%PWS*2^<[0&4I^^&`
MW\'7)8<OG+YW'I'&UZJNRJ\0;CLJ_^(1:7Z3\(^2]E>=LT6,P<333?W/GR.:
M,1./FTOZS#[\)3)SRZB)9QZS(VX3%6HU\BOH_/?SQ&=!O%B+'#XW:1Q?I-E+
MD.F.54?X[BOUT>9J/)##5G\4;6\\<(&E#",\X'!>'4]MHP[+"4:X3R`?F"C[
M)+;CJ\9D$=YD2%64M^LH;]=H5>D;;LO61,-^RTM?/D1U*?OOD!\:M<^NQ'WS
M(L@*IWY[@()V^^HI?8B21,RL>'SG0V\66LM4;H=LJG-&<T<:VOCXFXU#58B\
M&;FO92SCV4%*I;OK7MUQ?^6#D<85W-*BB,7VQ\#.Q^6#KV%8<J^X(<8F^]?P
M;0D<JHCRS=G_6N?E;>LB;4XCX=$)S"/%>.I[=?\ZYSWC[AV(EIHFX?CS'MUF
M`P-S^&G/OZWCS7RYI`!.-:JU?Q]M\J&"5<\?FC]Z]SXZ1-W6!!%2R1SJV1&K
M4OIT3S-3BRJ$QGL6I`.X?>;3E<#1P#I8<ICC4FZPIL9S#NI\,C/,-U[;>:C;
M6<P0'_#>)0Y9*M.6N_@,/PNU'\1()Z;\<PB3=`]1BSU>=.S_B=?6,UW?>>QK
M'\MVQ`'+)HUW//G'!O;-&\N?I\8E!G*_(3%LHN/H;(T:J*L'+I/%*2"V9;1Q
M5!XW[EJ?`K6CK;EHHAEL>L&5@JUNE7]\#43<J0XP$:\_X5X)T>P$P\$OX?/[
M^S@'O5&S3KH6HY5PTJ:$AFNN2*6M1ZZ'Q)5I"]&WT$BHU8M2^*EDI-"A(HD&
M&9S9YM<TX]'+'/),6E7&BP/J!GX;YM,L[YTA/4!*>]"E%F%JA.OARE+9+16L
M619L'7,>Q>N"AI:QSEE[3+?4LTA-)^6HZIV0N^&5;H:`--_F"84\H15;5XRM
M/*JAIZ.W*UK,DD7Z1"_37+D?V!(8^:C+U")J7*JHJFQLR=\*61RNX)K9HEE&
M0QY`\#QZCD*:A+#K(;(M;P]K-67O8V!,A]"_8$VFN6NC(6%OR*I,-S^2VDP9
M\#>L#.'@J\7Y\:)N)W&V'=Z=K2$:VFQ%[C'4Z4RAX?A^^.U#(;CG[3"(9*'8
M&ETF(I='3._21C3O,I)K60TNHY2;G5'3K>Y:3.T,P<4(&FKOBEQ.D%7/,*K$
M+R(!:S.,>VD)![]_H='#(TQ<GVD6/-"KM;@QP#OX?%WD1<"O]'3ZNJ8:=S4V
M)M/W*W"3[KM90L/YO>!;O?F10XAV?\/V#L,SOH>!KH`=VLII\3G\WMH=_5*L
M@YWVV&15WWMMNL+8]MRZ>MX=Q`Y@W??@R!6\"2BB9R1+<-Y9&)I;N$+@$FG4
MI##F.&8'WG1N>FGO='.&V"59I4#R6N-`[NLL39@_+B(VF=NBJ_'R<>XJ+9A4
MSE;K&23!+'TP_TW5O?:U.)JS&Z;HM0_<SYQWK@Y7!BF?>EK0I(B".-Z(81F(
M_5).T8X#,4>K\D)!^T"XYPI&HP=`WE3XJ?PVO!=>;-\9PZ6G:KE]T.QCS92O
M=UF0Y*P;PZN"'@-_;Q,CIO3=J7"-S+Z]]'&P?C?0<IY?D<:7FR%-.\-/$#34
MW"8/:!1)/^X[ZHQ&/E?X-=ML"CCHY8C2D`FBF2':,A4XY$::.N\U`W0FDJN+
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ML*>T+03\4$7,UAJ,57INE12RAC5`E-I+R)*X%*9X7?54)/GZR!]RRR</S5]Q
MM8<*FG2:(&2\$+].YUO&,LHA>,8-S2%90"NG^SPY*S.R5RK\,:+<%GL:1-9\
MPY1&EP\I))5=`H9):9DM_(BP3;AQ,D](99[4N93X![R09ON*=7OOCU7`UOV?
MTWM8!E>%DTC2UP`N4NR(WA!BO!FV"-JZ,9""+3Z;JJQY;O'#I;E`VL9NL$V-
MVTC!U\Z"4=GPVZ2(@PGBI,1`Q7)+.2`&!CEV>5XYA$T](N3UBFLC['CAU67*
MPQ;</J99`1F%P(%)%%$)X6IM`T+Y5F3R<%Q`\J00G'64+.(UCQ-6[@&3%;/!
M/N.C-:YH(99=K=G*C+FD]BTQJS"NUG%`JGHA4ZY`N],KH>>EM["5U345ZZIZ
M#^4R2B@K%UL<1W+/L2E@:R<GM');-=:;C<TE4(4S?J'LI;W2Y)SFT4,"F__G
M-(N>^5FN>`7#M[[D%K.J(&LS5[SRD59"MIIDJ^JCH1IP55LY[9]Q-8`26[>R
MN1"D=Z:(=]@YR.I8U-P672F$3:*!J&Z9:NQ_#2UDV?94R"!L':<M3]$VKV##
M4_?@<K'(5#,WLSBNUG+"*MT?K%^.BBE;K49*/2^SM^LL97.38L,6"G!&NH)R
MJWJ01@Y;NYA`R@TBI/F1+ZWD]^Y/>UQ\NV8U\ACD%*;V$=],^Q@ET=/ZZ7,:
MLY+?`,A,>MO53W6T:W`]"[-EFIL>,N;U`BTQL=0F6W52ZA-A@%06_#@)J73Z
M.P4&6>Q-9KLMH&@F/WO9$`@^"^%,6Z16UUSHVTB-XZJ(JZ5ZHI9O-`MU4ND3
M;H"4%EKWX#9>VO,VB&F^)=7IYHP!>DBSS7P),86[^1)==7"UHCM@*1XL:#9]
MX^F&5,JP$P;J&-KMACX%$;RJ*WWWY`F.1L3OC&`7T1=&U"Q:,)>3<#]C;=7^
M%E&W^<[%L3*BMER/F\(VJ8T3;IUP\Z2VCX$V^K%4)XBZD6VC:+?M<+0!W+P]
M97/UWZV-4$OB;H4N3)S-<)<60:S?5VO_C*O"E=BZM<R%L.^@<9"6'32%#,+F
M<-I!$VWR"G;0/@=9)([DQ;QUFA11L=%[*HL\KO9R`]MMNTIK.Y<7>EZ<%Z-8
MF4?K]I'20G.U4RF%K"T,$%U;H$HI1K@)(FSX:)7JEIDX$C^G"X[D_;N3$TT#
MV11PM94C6DVBS[R\*4`J10*:7GI/NR#S19&*<KQS:B9)'G,KZ<#:&JG4@S9Z
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MVK5'.<GA3@JT?+;2>U$*P.+00DIIG*UC@OHJ6N:D5\LHI7&VC`GJ:VB9QA:X
MKCD:(BC;0,:GJ?AZ$W_\:&+BA57C'<A9?7CP*5?<:M.+XFH"*TXY1Z5XT++@
M*LTS%#A6\=$JYQ2B:Z9Q%/)2SI<7&9MXW$"D%ZE9#+*XVL4.5`J^V]:`-N(Z
MA"MYBF;3+`&\K)J*TS7%3%@GBJM9K#@5$6;:;>+]E%$\U<\Y_O;%]E9V#543
MN>BA:Z\>H-7A@?*RY5:=5%"=)"*(VU(\(MVU187VJVS7%G1]ZSK8\+)MLWTA
M7$Z`ZG?S\@:.7A97R]F!ZB9_M)+STA:<!6K<FNYE5T'6,JYXI5TWJZ+O%ILE
M$`QA^@6>9*^C_%%*=.BF@;>]3'#5S56M8:-$Q("@;5T?+5:=S$F1B:Z#*(2@
M(NJ)B9L:KK;KA;G;@/5-G+0=>(FWXXH9("\0@<7;K.2*%A#[:_:T"B#FV&F0
M_)ZM5\5B,_VB#`]AD,;5:BY054$\>'S9B&O!1/*^UF.]SD]0B!NZB(,\GR^[
M6S";NQ2>4A:;3ZNT#A#'RE`Y]%I#=I\#V,35W,,52/%$"2P#&5XZ6UL;6%=0
M;IVLF7E.'AY&+Z';.5!#TXNKYC'$@YA-DU=!LKF(DB!9L/^>)6>/P8IYIY.3
M>79#F=D@B?[!*UA_C74/6[CXLG]!I*-Y81'6F6"2+"N;.8S;I5ER<D+2C&PM
M1P6C3<%,D_MX_"&@RCH@KLJ?Z=,JM`00I2]7XY*BN'.I(U+*>:ID310?Q<^(
M*EB%2AWVH@S-_>LY70;KN""78.@_O1):SV1$-6RI7%35VCC],3@+60I1=1O`
MR<<GM2@.WR%BD31@F7/A6)40-8L[5HWW$:JDU69;;?_]Q=)1$#6%"I6A:R!Q
M3<TTXV+"KZIQ60I1Q1O`2?M"#=$_$"%,)D611??KHDKZQ&:D_J@O%V9612Z]
M%@%+FW#O4NBK<`<MC9FQAVK;Q*T-=['\V[>(VWVO`KEPY8C4GR#E-R3ZM#]3
MORGS[THA<*Y3;[?I(.K[SE!-GAB"90EQ3XWT4Y;F^766+B-ESVW\C*CJ5:BZ
MM<QEB!#R-06LXM2RGIL^T4L&2#GID\40U;4)G32QJP/S"F'R-8A_XZGZZZ=(
M7U8TR:FJZCLBB*I=ATQ[6E$*^ESM_$03N*IFJ&^%&*(Z-Z%3KV%*8<^5O^V9
M%^SO\(X@2M:L%Y;=,4WR4[I,,RKD[H(O-)]^*;(@S=AL(L@V$/$I=Y_-'?!S
MB,@P1BGESMSPFB+K^?;#9/ME<L\_77E9_O$CTOH\#^-5+JCQ3`G;^_,<HHIA
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MK+"I,=@YJL\WN"E<SAOF!OG.SENAC:AY=P#=TWG7IO`X[_E2LY1C=!9_H!"3
M4[=2W<$,HA;?![VV9Z=+,J_V$_7+7M[)M[9]KX55Q"]O"^_8UQ7:B%I^!]`]
M^WIMRG]?!Y2,R?`_,*P\!S$0]9IF41IVUR"J%NZCCZB-=X(MO<B%%H:^RO_1
ML,-Z-+=$%`LQ7W>1&J_OE#>*&K__]@%-.REAJ5\('I5A:?T\!:RW1;39,A0R
M"#J$%9J\MR#)^J+TXI&&ZYC.EQ6F3;FW<<>W+%4O>/KJ(FBAG2%+W:0T`+.0
MVD1]JYO\RLT0L$.XH;&OL8I("4K'K$KYH)5$X+X<`:H&%*7&:TLMC*0%S."4
M-U"ZTO@S:V.J:\=*]E^[.R1DQE3/&FC*RF[+^GJ,)CUKJ3I:$II?\+AI(AJG
M>P*6'KO)KW@\M=E%$&6?@WA-67==/ZW$58TD_$B+QS1,X_1A<Y&679G]N7E[
M6S$%'LPHHI8>KBQ=$H!EPDV3AFV^UFQ8YY'^R\>1\%/K15+U#5^/D>K*::#Z
MR%;`ZXR&\^2&0C^(D@<X\L\_)>E]3K-GD>]@M2X@)VJRX(<8$80LB!?KF/_S
M)HUC5JDO0:9<Q1[\HQC9=_"RZMEYU.)<]74(]%)_GU_J8(OS)@3",9`V"+82
MV<(@OP(04B+QSN&R9+")"]%NI.K,VT7)V[5?U=&&VS+R=L@/(9BQC%,^$S\;
M'Q1AAF0>YATB,K)*[*V_+.SZF+>ZUV$9S6531S73$W!8RP@8=Z`"68/\(7D"
MW)R22-,.Q>@@YJ19JY>Y3M_VM8]Q+!VR6":WI)FUJ4=0D&I^3C@E?U,\$3VH
MS#"U3=%;IK;^G,;K)WI#^04&.=*XHQX"<NP$5]XN#YF/"(]7/+'W-L5(D6YS
M=+$9?9"D\1%Y".*8C3^*YFS^Z9+]B_VY^A/[/_?,"OO+_P=02P,$%`````@`
M;(E(0F35!2"Q+P``Y]T"`!4`'`!P96EX+3(P,3(P.3,P7W!R92YX;6Q55`D`
M`PMX%5$+>!51=7@+``$$)0X```0Y`0``[7U==]LXD^;]GK/_@9LY>_:="SNV
MD_Y(S]L[1Y;E1-.VI)'D9'IO^M`D9'-"DVJ0LJW^]0N0HLPO``6*%$IN]T4G
ML0&PJIXJH%`H%/[Y[\\/OO5(:.2%P:_O3H]/WEDD<$+7"^Y^?7<S.^K-^L/A
M.RN*[<"U_3`@O[X+PG?__G__Y_^PV'___%]'1]:E1WSW%^LB=(Z&P2+\-VMD
M/Y!?K,\D(-2.0_IOUE?;7_&?A)>>3ZC5#Q^6/HD)^T7ZX5^L#\<?;ZVC(\"P
M7TG@AO1F.MP.>Q_'RU_>OW]Z>CH.PD?[*:3?HV,GA`TW"U?4(=NQEK9#XOL_
MHM/_?79Q=G+Z@?WQX?AYP7BXL&/V>_ZS]R=G[T]^GI^=_G)R^LL/I\#OQ':\
MBK;?.7G^^>3DXH3]EW;_I^\%WW_A_[NU(V(Q4(+HE^?(^_5=CKNG#\<AO7M_
M=G)R^OZ_KJ]FSCUYL(^\@(/CD'=9+SY*7;_33Y\^O4]^FS6MM'R^I7[VC0_O
M,W*V([/?>I+V.4HB[Y<H(>\J=.PXT2WE9RQA"_ZOHZS9$?_1T>G9T8?3X^?(
M?9<)/Y$@#7TR)0N+_\ET9/M5AZE<Y'B41`G>7#\>WO-&[QE0JP<2Q+W`'02Q
M%Z\Y:O0A(9HQDHQZ3\GBUW=+XCVSCY^>G7SZ<,(__2^0OO%ZR6PF\KC*O[/>
M[TAM/PRBT/=<IHSNN>US:<_N"8DC%:G*CGNB<V)3)K![$GN.[3<FNG:4[CC@
MQDLXT-%X,5[R68T!K"5R^0C[H;QO1_>7?OC4F/#*`/NA>Q:'SO?[T'?98C'X
M<\7,K"D#XI':Y61,[^S`^RL!F<T-YW;DL:]/6$M&!VAF@8_0+N5?;>K9MSX9
M!C%AOX[3:4U%K;Q7NQ0.@T<F@I!Z1*G'-4W;I>6"4.^1H?&HIJ6F:=NTW,9J
M(E[:M/OU;S:E=J!>ALKMVIY!'AZ\.#%V9C1L%HB9&\O<68"N`+JV2^NE[='$
M&;PF=K2BZ12EHE+:J5WZ!C8-F`BB":&S>[;<JD@3M6^7JBGQ^:3.UO]X/6>:
M%-D.:"U6]6N7RMGJ-B)_KA@X`SX#J8@3-&^7I@D-F=\1K[FORI:^)5>="^(P
M0D['@:^<XH'=VY[KV7[BSF,K2R^*F-NG02^@:[NT]APG7"6SQF5(!P^$\MF#
M7-+PX=P.OM/5,G;6&O0W'*YM^;._DKG]3/1$+^O5ME:3!:&4NWG,M=/29T7'
MEF<$_I4CYL81ET<_")N`^/RC03!\A)8ES+9=\?@I8"XS6Q5=]MV$@%LO(.ZE
M%[`]F6?[+TZV#@0[C[QOKWW"-A409T)_I'UX\7/^(R7MD+Z=>?0P$H4=.O/N
M870).[3OZ4,)*K?<F[\-(Q`\P!Y\;QC%@*[=^N$P,N6]]CUO7I#8]OQHQ#=_
MW#QVGS]%(^YC'MU\N]E$6NJ\1WK!TM<;I;.U`"AF<8_.5@,@9>(>75,&AAK0
MM?VU"RR^2M/.:-$0F+A/-Q$U70I5_?;F`0!AAH^P;\K!(F\PU![\&:#\(7WW
M1^W9+N2>[9_>TUWH/=V/QPA4!$6WO=`(-CEH__U$GW6IUQU'QL4RYQ5?L1\4
MNI#GF`0N<;.!.!<MY42P'_.Q3DY.3JTC*^N1_ZL=N%;:W<KWWU"?T>^'3H%D
MGR>,A%0E0OZ3/V1T]FZCF#*Y9@/Y]BWQD^'_X'UA7=\W(78CWB2%)2+.\5WX
M^-XEWGM./_]+PLC1R>DF@>5?V(_^2&F8DCN/?SJ(>=*0@/+ZIF5*\VK1HXX5
M4I=0!E<VJ$V=@C)4DVXV+=XODUR+(^?>\[=ZM*#A@ZXL-W(+59SDY<MHV#L(
M?<8)M?TALYOGW\A:BD*E+1"&4X0X"/@V`43&R)P-J[#?M`E0[&>HQ%['I4EI
ML[74"QD++D]U5(B]U!8H_P\HY5_+MPD@>HP:EU-TZ=MW`@!*;8""_XA*\+5\
MFA!X?T4YCY=>Y-C^[\2F<N47-P?"\`,J&%3<FUN"OQ'?_RT(GX(9VS2%`7&'
M4;0B5+H4"_L`L?D1%38@.9@#Z&OHKY@(Z3I)Z(^DP%3:`@'Y"2$@`KX-.JNI
M#4_),J0\ZI1>,Y#[K((N0%A^1@B+7`KFT$FTI,^FU+N0RC<2I99`+#XAQ**6
M9W,03%:WON=<^J$MB@34M`/OXA#*OX9A@]-3^/`0!DGJ4A*FB\:K.+E*QHQ4
M/DE).T+Q0;G-!HC$Y"XP=0?3/=$E^YEH,9&TA\*#<SLN%(!Y5+B3#L<DUQJ*
M",X-NH#Y&CS^^;["WA7[0><!<_7MNFVT_,PZLK9)C>SO_?%H-KX:7O3F@POK
MO'?5&_4'UNS+8#"?-0J5Y[5L84>W"6"KZ.C.MI>IJA$_CK*?E'5N\^,_MA2.
M%]M4S$D8>8#(.JSKSA;4`F])4I2*BTTCE0555+)],]+!)&]&95;RW@L&&)@1
MDB'[JVA6JVN("8Z"&M4*/D?X-A*-1/A]WXZRFY&]9T^)0;7]84%1I3]W)&,0
MD#Q=%^&#[04").H:8H)`I%"%R&,-#R\'E";-@O`\PE[Q<L@U>;@5!A^E/1#@
M(M:K@GG(N,@.;PQ;2$KCN38V@AX'AHV`B^Q@P3`VZ1V[31A.X1\*VII,8!"[
M(H5C*QF3;6X.=UA%[.B>IR"R/_@MS4?;)SPI,>[;E*Z]X"[)1!,M++"^1C,<
MY!"$VLQ@PFYSXS.:$H<P@IDC,R+QAE61*4F[&$V*`",%81L'0-E-@S4C4`!(
ML8G1K`@P`'5LX1#X.+XG=$N>0.3E1D8S(L!"KV<-D=@+G,A$7VIH-!-"3_RU
M+.*``"+]9H+O)LT!/MLK9+[,O-RKE%DA;0EA<1C;?M+2*%I9;8SD0GN^0(9X
MH9!W,9HA`<82PC8.<\J9NV)S4MO2:&9$DSD-Y^:D7)*%J<G@V?%7_.3S<QBZ
M3Y[O"V"!=36:-2$3?ZC+"2;8<HR-PL"!>@3YMF;S*8#(2/E$!X4:`--I$OIB
M?RW^@!0A77"ZV9X#P7E=N%QY]JWG>[%'@*%*60>S*15`_-0<XYC8LB#0Q%[S
M"!`LZE5N#$6DFZT_0-0U4:]ZAM&`0E?,PBN,B7$1M8="TTU80!L:.=LXT+GP
M'CV7!"[,9H2MH<AT$S?00T;!,@Y<KL+@;D[H`Z\4(L>DMB44CV[V_GIX2%A%
M@@5TZMIESNIFVZ^)!&2R.DR?+:=CRNVGJ#$4RFXB`\V-"O<^M+).`L,#TG[@
M0TL$4('%T-@('PF]#2.RBQD*2F=LRD3ER!9@5M<0"E(W@04]D,2,(K(E;2/:
MT7JZ"2HTL!ZHV>!P(M3>`QR";N("C=V&U^(O`-YQ*.<]R7I`T<004P`_88'(
MHABAU4=YX%$Y17<H>AC"#KI"P0&E-GAMP-5Y+`(&0`CC"A-<Q21B639H;4LH
M0-T$)_0@D;"*`XO<16!I6FZE&12%;@(3>BB(F,0!0<]UD]MSMC^Q/7<8].VE
M%]NB)`1A:R@@W807]`!1L(P#ERFO@QD0-ZORR?;8JX=54C/S@BP\QQ.M+I".
MX*Q<!&C!!8$#./$#BTHW``Y,-U&%71?\U[*!NO:"D"9W]-/J_\/@/T(OB+\R
M\:VH<!.E[`4%MYO(A!ZX0!%@-;EAL,DGF_!J2$R\<4R]VU7,C\SF(0^SL*TA
M$QPCY2YC$6RFS0:'HM]-4&17T]Y%H(<^':AV10WWZ'"5Z":RHJ<24"&T"C:Z
M6B;UCVYO"YM\@!<VL?Y1&.M?WPJ=O!4Z>2MT\E;HI$OAOQ4Z>2MT\E;HY*W0
MR5NA$]S8R`N=_&@8FU$8DRS]-/>*#S_BXSQZ"X^X\E1#K1'P%T5I(!`<<9.B
MFC&:QS3AV$W.*;)WI4"G8^+.1HNEP`#4DP-&[-(RNKU5?!]2[Z^7_:X4LVHG
MH^52FF`EXALO1LGS!3KX9!V,5E)ICDV17[RXJ*MR*WL9+;O2'*&.BV^W!=.5
M]^>*1^28,--?D,`A\/0-67>C!5N:`*>6!0X$<ZD/FMX%J*?1>B\PW#0D@`XR
MH%,A[6&TC(LV1+C=B0JA4E]"V-IH*9>&D&#T(AH\[-'*DQY=I5`U`@;F/&`X
MQ]LR&(T7XR6AR8=J'B?X*#O#F\W9']>#T7QFC2^M\60P[<V'K('!T[MAP-@E
M6XH5!W;"UB:#?;9/HBEY),&*B,N%55J9#`PIA%X(Z=5SAV4.B^+Q@A==BF:A
M+UY*2JV,QG0T9"]@#X?L/],PBB8T7`A3.0LMC,9F-&1>P]:A)P#-2)+7])D$
M;-GP>X';<Q^\('FQFS]1/WA>DB`2)A<`.QN-[^C,9UK"P&%JF_6>IZ9Q/J^8
MA@K0JFUI-+"C`8V$37,F*+A\?6E[--D&]]S_7D7IE;UQP!RV1T)C7AN07_YG
MVK6YNRS"2W\8H\$>#3";"@B'Q7VVO8#KWSC@%9XWY(N6N?JV1J,[.@N>C%4\
M:$2<1K9A"P;/?(I8>=%]FE_&]4B"C**?T0"/)DH@$>!`+,NAEOL6E59&8SL:
M:`C8TU^E/J6K5$#N^![?O*N85'38^$9R[&I;&@T!Z7@:8C8/'\,7[^F2R2<M
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ME]DZV!JP`_G'X45_(][=/:.J]\A\B#LR6O$;:^-%)4=,9L&:8YBMDJT!9"/9
MH(9UHX+0K$?M4<S6UMX=6I5\#B!#DK\:?NF'3S4)DC_`$R3[O=D7Z_)J_,UD
M@F2NE,:6*WA9DYHN9GTE3A#;WG.GT#U?WT3$'0;;Q(^>$S-W,2G2(^>PR4`H
M;N)*0"PY30T%A6/F[20LU0DR.T@:&K!J,^\HETTS#Z?$"0/'\TE^&F0,<3J8
M@\W8:FI?[7_&:/YG.R!W)7L<)MM[X*7QTL.)\:+\R*U(3Q2=C&:%=H97"!=`
MIY,!]B3$;LX1]@%K"]F+!QK.XDF``1M[_8UZ,;D(GT3%G>H:&DU.W8=>B*6#
M8Q*_"2BQ?7[W\R6M\X)0[S%);A=-`,I>1G-9]X$K4&XX0"ZN.9OZBL$=ORT4
M)1&V*'V9%K1FR[H;38[=_^JMEB0._)/L17ZLR=@&)&F66QI-LMT'JA+YX`!P
M&#ALNHF8$Y'^.<S--9L7P2&94_K#&,W/W<_ZW$RR./2BY_OA$Z_6?!G2J]`.
M.*V<BS3OGXOL,2FP-UZ<VR[W0(53?(.!S.;9[F6V;RS>CO9O67IO96?!'W;Y
MYL7WLM0`:&>S2;/[,7H=,>(P];<DVKVI1XO9MP>ZI]_?;<:.LG;WH2;0>Y`'
MK`-F[U!VE%:\+]W0O7UYH'HRL=<;6?:</U<>OZZDFC+D7<PF%N]#.R`BP^%U
M%'.GTY=OKDE\'[IJE(%]S687[VF/"1=B1SN'_KT=W)$H3WO-[E9QR*L[B-F<
MXWU`VTRL:&R[%/KH.6GTD@F+>(^2!X1@7<UF'#>$1AH;$@L(*Z39^9-.4+#0
MQVS^<!<@UHBD<>[X(Z&W843,>V%5-B>4+&V/OQF;L+.):S/!)=%N:9)&T\',
MIBAWH2LZ0L0Z!22D;M[CT(2]KJO99.4N0!8+Z#7."]D:MGG`A1>T<QRZ(HW.
MCV"#056FFY!AEXX`1(@XY@5X1J,`?)T!H(!W$_S;'7!]81WZ[3,!Q^D&M85$
M>^E`4'7I)A[8F;H`A(=C;JC$H\Y7D1<0'KUD0GAY$KVW6#!IL)TS.+`'&`@*
M?C?AOAV@DP7TP`)\A?%?)DMF2/%ZXML!3WGE`:\E;P)5&LD`4&7I)EC8D;(H
M!?8*E>3%0)A0TSM.F]\(WPK3&@*J*-V$'CN?581"0[*@T-`AQ$WBW?P]@&L[
M7E$O7C/E[H>^3YRD[`J__J`\*FHR$A3\;@*/+8'?7(0X=(#+X(+G0K,)B#-Q
MP2/PF]`[(UUTQ*#J!<6VFWAD.]@"1=/14="&A^'#DI''4]>"[W2UC)WUX%E8
MG$W1!WQK"S$H(+'@,"TXPSMOTN#8[O6V;3-L-03V2O?SVQL+N^[GI0-!56:O
M=W?;41F``'',$7G_@;\FQ].8QY1[$N-%FH(`\+A$':$`=Q/?VP$:@8,E%Q`^
M0),3"TD.GJ`M%+9NXFSMPU81`Q*D-OLV7ABGMI8=\^%?GK&5I>PW&@F*\EX#
M:KHH-Q?A*PB6Y%2\=$$!8.^5'E!]V&O,;`>K%X@$A^U/R7*KNJ,P)MD)H0`X
M<7,H:GL-8&FBIA(&#LAR<PU3I\P52*[TJJ?E:@\H<'L-/C6??D4B08)=;E[(
M:YN.@R3H!\5QKX&F':9-J7APH)DG<4I\OAI/;!JO)4#*NX#+SB#&$"(4'/#!
M^=TYU@"'=J]A*4UH]05VZ&&IY,@J</D??(_]R';;/(N*4(]?ABAF64E.".!#
M0-5DKZ$H335I(K37J2@])DY*UTQR2:TM+0VI](6J!N8@EI:8&NO$,E&U6<R6
MG;^!9OQQ!M<-S)$R,+.M:,<@0!`YF:V62S\IFVO[6=G<8;`(Z4.*G*(*,K0W
M5#LP1]@T187#P\PRZ7B=#B8&`8Z55E"\NHF`Z4JZIE!)B5\<8&2\;`IGO9RO
M!6Z-+O+:&7X8K2A173+=>5@HW-V$SG:`NRV)XM"/)"K/8T?$O5A11GKJL2;+
M3A*`$$W#ZGY0A#NZ6=H63*$6T^U@*TH*XN'9]/N7(9VLJ'//=A/CQ8</XZ>`
MT.C>6V:3430,OMK4XX'<[;/6LN?FVAD:"GE']U`[@+Q-D>.P^(RV)%#<MY=>
MG)9(5:S3U>;@LL`'`[9*-!V9=?'0='N6NKFL)@R.RSM!T>GH!F@'Z,#$A,/(
M9"O%=C;9"(<7NV"L;)ZY;+#>J@:$JD)'-SOWO!##Q-N1*4^)X]M1-%YL2LAO
M[Z:MYV&:KW2S#`,N$I]$_(+`X)E0Q^,KBJ*<?RLC0S6AHRN?'6A"BP(_@`>P
M\N\JEM+?MB]A_0A_"6LV'_=_^S*^NAA,9__'&OSGS7#^.XXWL:J,PA_'DO4U
MNB1L*)Q+4DW*C50&6]'<#K;*.J@4)^DB+_E2PQAP8,9*DHJA*BQR#3'A4="C
M6L'G",]7=<$@_%1]^FP&#(,DXOWL*7&H[W-8D-3SD'L+S>3CMD7:+L('VQ-=
M`1.TQ02&3,4*;]K6LY+?(!E-GLKO>JX)?\P3M"7,FAXB)/6<X+"2W`O74C1J
MVATB%#5LY&O+FWQ7P74]+CG;YR<OPV`3L)&"HNASB``I6,I7^C*:-1BS696X
MV0/B4I1$C0\1'A$O^1N9)M,!V5X\#&+&/1OZ+@N`2M&1=SE$C.0<Y9,438<4
M"YNO8>#X*_Z$]X2_=\7$&\?4NUW%W`F=A_5,R<*++0QN]#U8\<ZN$CML38ZO
M(UTK?10^C9R*-*30Q.@+L$"<:W@RC98@:EPJ+3%>7%*F<5->\4R`AK2'T7=<
M8>``..ZJQGKQNR/R-!E\8;.!$PK]>'$'HR^CPB2MYA?_B5EBRN=V1%R^EI,@
MDA6G:3*0T9=0-9:M1O)!C6\Z2[<!L'PDHX^>[H0P1$+=S96/S$M*)HYB2&8>
MYN("XHD3UMOHTZ7@651'$F;Q2#5F-U2R,8R^+=HJ-D6IH)X4DTD]SU;N-OV,
M.+S$G/A^WHYCFGTP=/>U$"PVU!J0*FO+*@`>U.SCHBVLEJ]#"1)]9@Y[\ILF
MYI[K:_9!T-W-NB(&U,BE6M@0NDIGLZ]TMF".K8,G\(]R1&R2N[)L+P`$U1YF
M7\#4EKN(Y:Z$G8NOE3\M]4`A'<T^+ZD?8)0+`/5<E4RO287JR&N:@5SL;O:Q
MR-W7FCIA[,&(A@&O%E)\AQ9B0X)^9M]UU#<A*?NH+2CEHL%MN4)'LP\QMK#*
MMWH#KAW`!'4)95$K>1>S#RT"SU8`3..`9T+#A9>\[BH`(]_`[+N%,-%7&3K\
MQ^D.(.]`HQA(1R\>[C/UX)55`]%+/="!VF@LHT1S1X"9NJ`TIG=VX/V5BCQP
MS^W(BY+H^_9+6Y:W%Y-^LHZLETM=[!^GQ]9X^KDW&OZ_WGPX'EF]T85UWIL-
MD[M)D^E@-AC-D]\TNI,D\+C5E"MN&ND,8-"NLF>(+DCD4&\IIG;.5.#<%SM$
M308"6F@G]JD/<-YNFXL-T?5!11F"K47^7+;(LV/K:V\Z[)U?#:SA:#Y@-CBW
MF!4VO1<HL,%Z^A1VI^K4YK:\_ELJ2U'V,FD6,)GG30$H!$1Z7_=H_%;9/Y65
M_<,QT_&O3+O'T^%@UJ9^Y^A0*'5M2Z/%05)ZUB^24FF]O(M)E9?`4*SZH>89
MD9)?,%?PD8WX6*/DIR=E)?]X;%T,IL.OS(_ZVJZ2Y^A0*'EM2Y-1H2T]PX"1
MLTHBC6R5_T+<.T$)`I41[#:D22.1P%A,V-U=9JB,*%>7>VL]IV7K^8%;S_F\
M7;.YC97VDF]BU%!N8QT;$+0VJ]Y5<1?U6LHB(I6ME"O9JNU966U_/+;ZX^MK
MMJ5.*GPD&^MOO>FT-YJWN@3DLNO85)`1J"H=J>B$*M3)R[_!+4"COTF;@,$F
M#UPJ!(/(;CBW7IRM5_TPX`>,)'#J-@FG'\JF]%-J2L-Y6C2'6U)_S#;$H\^#
M4;_E;8.$4H!-*7L:OC,OH`]N7;J#F#8Q()3ER_;Z<D)D;)>V1Y,<BFMB<UJ+
MA_A;,_M8-K.?CZW+WG!J?>U=W0RLZT%O=C--ZU2U:6"UU"E,2]''H%%M*7N1
M9*2R(44?DR8#`B=O+"#^$=E&5@%@0FAR.E0UBQ_*9O'IV!KTIB.VVLRLR6!J
MS;[TI@.#%=K*+"AL1]S<9)6C$E$JDY&T-VDN*B@*%8Y4+".RDOSK67/FF$:,
MIT(BWM9:?JR<)YX<6]/!55+H<-*;SG^WYFS+,^OU^1EBLX6DK>(G]3PIS$?=
MS6A!EWKBX/Z<U@@F30T*7['LB[9X$!GA;'4;D3]7;-@!CXU7;:]ZEG]Z;,UN
MSF>#_[QA7ILUX.<J;;IN)8J4C\0(6AM]]J9`D])5D[0W:0P*((JOUR@X1J3Q
M$QHN";-5MNWB`8XE]SXOB,.P/!T'?O7L_+1R=O[AV)I,Q\Q+8^L.#Q/P<KH3
MOH6Q_L$&LOA(5LB&^E>#"U'&Y<2W&70Y5A7V!.AG-HVTGCKX6J0WA$G[`T-8
MRDO5EA`BXQRR\8([?H.S%T4DCJ2&63GG_\C/^>>]T><A3VOIS6:#^0R137X.
M0_?)\WT&2X5/Z'-,FF.8?7U$0)XZSP#0TZ1E-@*R]/P(5#:(C+/G..$J"51>
MAG3P0"@/6!+^F/6Y'7RGJV7LK&4&>U;)6?CIV.KU^^.;),QN78ZGUN!Z,.4!
M]X%U.1U?6^>]T6_3F\F\_SLB.YZ2,)=YJ-[;"5H;W=+E:;IAND#[]_8R)I1!
MM[B9O>#9#UV-8[$6QC6[_9,"6]SUM21!1/8]#-A?R=Q^)M)U]ZR2//$S7W?[
MX^N!->_]UP#3DKME";S`2GL874XK=*G745D7L_EZ2EB*RZ6:=T1V5'J^2F9*
ME82.3WQO.;@<3*?)&RX\IP./-8'>9T'T$$NI1I1R9RAH;33XKWQ\1<$D(KM(
M"#RJE+:3&D@E32,)/W*[.#KOS08\1^-Z,AC-TGM%>$SEA69>E^B%V4VT.'EW
M,#FAN>7BF-AKR`GUKH,:O9\-)/T\3[HR$7'748TF++:B(L7[X*T(&=&4D82Q
MTO=7^R'K'Z1SQRVOL[]Y2<[V7]Y-DTXEE524TQ_88GO5&\VM\;?18#KC^5X7
M;"Y)9Y7SX8C]Y7(XZHWZP]Y5_D&U-J89P>E'\@KM/*SA33$W0#JV^I2I36/V
M&:YF=K#>?G88O&R#:'&3I%Q_=QG1I"'#,2NLV[L+$)&AJN]B3D+?JTW%/*LD
MPX"O"UO_R$9MU0CAS.Q\@[@ZD,DG0NPX63O&2\4;M74-<=\$%@%6>!Q$R#Z.
M(BI7'ML,N&P[``\!R+N`*\#BQ0PB$QSHY?DME.IGS.>Y'B_J'!LPXNU_QNA+
M+^UH25>RQZ%9-_R-XT$4>P^,9-&476YD]%V7=E"MYQL')IO7JKV%YTA7TIIV
M1A]U:0<9(?=HP"'>(Z]X$,VI[1+&:%+2;G/`&;W\ON?[X9/-3SE#>A&N;N/%
MRL]:)8)8BW%M\1-&7Y]I325:ESFB_8^@A$;";W7'4TEHEI1CL?Z1CM+J#D=&
M;J/J+.6N)M,OG7OBKGRV-M22ZJGOSFB-@*_42SV,A7Q-?1$ALK5<M0^1@56R
MEHLE8#JQJ0I9\(HP**UG6RVEOZ)<$1,BX::CZHZD7HR.L<`DTG(A4`359T16
M5LF,+M:@Z<3**F3!2]*@M++$"<H1.0KC"Q)Y=P$_L>E%FZHKN5(L+QO3W&YU
M0N@BI`_<:V*.U<N/P[2X^568^N&:)FR4-B2E<G3F!P18(EJF><$5T<Q12=W>
MU-_I:,K("`&4XT$Y27#"<FH#MV!Q1].E>G3L2L4^(J67U'40V,*'NJQH:262
M3HQ$27CSPB2MF)3HMJ#M\T?`MM]6FH:X/=(J(@!#4<D`D7W4UGX0649=HK&@
M>$@G-B$AMDDM$41+RY:^\_6Y[7-78W9/2/R9AJLETSQP<1%E=W1U1M3FI"L;
M'#'M+=57GGWK^4D09\.W.PZF_#U$_HQ+$KV]"<+;B-#'-/"S7,53_DB[PWJ!
M$G6Z^9318\9=5:4#H2-3J_2B&EN<Y*RR!J,PH`7.0;O.+CYD]"1M5Y5J7>"(
MO(!*F1J!`U!W/:):)JF3M;^>1,TR2(A6_)?=5-_VG96_R7<8L2T5Y=]D>G1!
M@O#!"_B_AD$M*_"-9SL?P51V26?#VJ:($9FM^B3X@L2VYT<C7FF4A\"J)EV]
MT`%/]MR,;FV'WW/69YF[G;,_Q0,>:J*:ADAV&!MWKJE*35K+3*L,O*/+*#`,
M-GWP.8WY'5[<#WU^EX3:_DTD?,9+U@%-SNGNT@YA'&-RYV6Y-2\9.`)8H9W1
M)(RV"K&>Z/#!?17:7`97;`M!^+N5A%,=/A)^"#Y>G-LNC[*+TA2;#(0FC[$S
M-=`3J7Y>P*?4[0K('3]`1)(74)]SM%GSJOY>Y=:=--5M,\P><MTV7VJ4[%;I
MBV)?)TSEDDSIX-XJ8ZZH>/LFK86C9K9;RN36]S@Q"FD]HU?E1TA!JIKKA0!"
M3655OU&78R__*C0V\!ACY^M^(25^O$@YZ#U[6H@JAWJ%,"MYSFT:3+Y]4:)0
M,&&%#[87""#7&P(!U+NH>^$]#"W&7_;WK;X%.ASD#_RNR<,MH2+;K&^+`)$F
M6EBPP'K.<)A8/3-EEOLVI6M^-O+`=V=U!RDCHBJ$V\F7\-T5J'@5ZC6W%6EW
M%*KJV]$]3Z!A?_#*28^VS_=S3*5%\ZVXO=%`59>2#T'L-]VS2G/96PG3\R3;
M30)^RK(87D%;HP&J/4$K%1-"6.O*LHN!%;8V>JUY3]`J1-71U)K>UH08G+ZE
M=1,#W*>E'8*)S</8]E4(EAL9O7J\)P3K!=.5BY+.R3GJ).Y)?5L@)C\>,B92
M,75UT!DF^52S^Y#&<T(?\F]'EX\X:YL"@?GID(&1":G+I0=D,+4M@:C\?,BH
M2$2$=24"`5K;$@CHIT,&5"(B1!EATC,92198I>0?Y%2PH[PO&`^['!3BRN\Z
M7T5>0**HY[#-0WJG-&);BDM^YY0I95ILG1]G"UC5Z(\PAJ*3G*4M*1Q9'S5D
M9U274TYY]IH#QUDQ#,*XRHYP@^2&:#[.%;809F14B@^5:Z-TD811)0Q>'053
MNL6V!(CZ!*&^*9*R)X"T"1FK.":Z+8677N!%]\3E#W.)EBU18Z-KE%3&=5C4
M<HH,C6\A_3[D4R>;FI1HE!H;74*TT:CE%!D:4_OIFJ<C>[:O!*/8UF@L71N+
M.CYQ0)'LS;=TSE;+I>\)Z[2*&AN-I$/!D'.*`XT\+X"5VW`$7-L,<ER]OD)D
M0I^V4N^O7(FL"Y^V2AB\%ADFG_:%K%R1G<^V%_"M[?EZ4[8J>42&[X#OO>7Y
M.MW[;E/FKS9%J<[7=8--O>B[+`MYGP0@R-!2ZTWA49\]"@=)`K24Y2M%'C2T
M,RI%V)?A@17K"EUBM8@_20*UO,N;`DC%@R/A\X5&7A2+SY%S]DEI#K6\"U+4
MRYI<CU,=0SOF0K>4^AX^/(3\&9:,0FGRM+`U*G#$"E?(4Q#QDHM4&`1F,X5D
M94BY',7SI:@Q*EA,S)0BP6#%6#H_BILCP%FNKW),2C.BX95KQ-^KS(K_2J?#
MVI8HL1!/@[4\;`.$AJ$03`22F5#:`P$T9J=#J71R46%\D$LG1D4?!+`#%!F`
M4VF>-+QZ\5>)QXNDAJW"::RTPXN(S%^LL+%-US5L,]KEZWOQMEKAB,1I%K6B
M_E.KG\#Q1``D1E4Y)&E9S#B.5J0RX:51[@+O+^(.@]1JQ`<P308R6UBJ"TRA
ML3JI9'%HQDU`B>US$C.BQT%.7`(U4/8R6VFJ8\R!,GNUIWR2]&'EPT/=9@Q+
M:-4^`6PK-UA`:L]UDT1&V^>%15>V\HQ2U@''>JN4>:%<EY)_'!.D<(*O3NZZ
M:V;="$872P`FD*5/+)DV(8V(<WP7/K[W`J9Y<0IH^O<RE.E/<TBR!2'A,KT#
MHH2MW-SHXM84HWJ><=A8SW'HBN3OX&3WXY,:ZD[Z#]&\".QL-$]+#S4]>2"\
M1C;BM78SC^M%!W,7LL415V5'HVE?>D#"Y8#HJ@*_-RK,YQ*_#]=-(M>6%,`+
M<9A2M_AEW.P2[OFZSX0=!LE6PX\)#2`>J=8(IA^-`Z1+-9`(CM7I*E="6H15
MH8E1'ZZ)F`7ULG'!,".!%U+FQ@BC$H461IVT'4&H814'!@E)$WO-SY^2,RSB
M3FRJZ;#I#F+TML..2#83&`ZPK]D<L'K@S,N,KM+*J)^](UP"ECNJGC$B3Q/R
M)?1=)QPO^4LT7G`'6&S4W8QZR+M:#%`H.&PDSRS`CS-<(6A7WZ"&61PP;&O>
MG(>4AD_\0KC(1ZAK:;0ZT*Z^@IAU'-CD^5/Z!J+&1BL%M6@VG4=O$`0-Q,=#
M'RLO:I>C!YV="U6I@P<4<%6)V::T2)^/*#5"D)`#P:`PL9580'(%ZB6C2''=
MJ:XA`ACJU:=6\%<(KQK=QB^'3=(+1M6&!R'\.L)QI$T7*1O9#ZK+/J+F"'`0
MZY$8BSP+W3QS\!NS-WJWEB9;EMJ@DV55+_(2+5&_JV(+Y#CQ[2`>/[%/R1-7
M:]H=F#QK.,ADVK90^:$^&]K-JG@)(EMK@:SAW4T>98@7][S4=46!9!^6"Z)<
MVOQY^W@])5RS^.ODV>:Q;R_9[X0PZ@YB-'8+0[.97/!B.@P<RM\]?#FI5@9%
M](<Q&N1MCBM$-HA.XK_Q?5(0J_,N/YZ6-]8_'EO]\?7U>&3-YN/^;\GCW=]Z
MTVEO-.\\"S.9#^>A_B/4D(YMKFF#9T(=+R)N)NAO7GP_)=&2.#%3'7Z!.)C%
MH?-]'/"76'P215F7Y'5I`1N[#VMR#82CE[>VMD39V5%+G)0'C0JT#*-H)7PK
M6][%Z!E_,X@@,L"QK.4(NUA1-CE/"/5"-Z4^U:)E<GURJW7"&(S^0$9=EF;(
M-I<7:KR3"QDMP"T;QZ@CTRK::FDA\FSX!.3%*:N!RRMT,#X($X*XE-S'L[*/
M\U/JXPSGUP/NU7`7IS\>S8>CSX-1O[."R6K2%5Z.S@`8`MT'=LZ@C\_;J4/G
MH!@Z=1"8<'+)^T5/SM=]]NV[D*['"_YER;D"J.=AR!O""8Z3AYE#`ILM<3<!
MWTYX"X\M?+*C!TE[#-#`E:^`EYBI;DXC!O&]'82^-()>:H-!NBI=*6Q:B^1W
M=!SQC<3,;8D]WR<T^DP9+5*9BIL?FGC%G'1U2%&R+94G)FZ._Q!"Q6I'@932
M9[>!\FOV_X?50WJ[,/U]3-Q+[YFX$^HYVYI]P(6UR;A&0S*-0&LNO8/:RDGB
MUA\:[^DZBEVKN0%>UV\R$(8-QJO;[4'N:;[M^MYV?6^[OK==W]NN[VW7UY(@
M)\Q-NK<C`M^-2'O@WY``&$9RVN3=!<F#P$%<I5GADHOFGIV&/(2-2PLR0[1G
MV99[NR8VWW@DVBH\>/I8WJ3\?&Q=]H93ZVOOZF9@70]ZLYOI(-VP='+D)"-7
M,:G`NF+P<0]LXZ&#R=M6`X/KB_=:RS8!`'2W1=CZ(&`04H]CUS&G=A`M".71
MA!FACY[#UK7QHH;JB#\_$M7_2KI1:?<3"$!7J&\>_79Y[V8+E&4PIBDV8R<.
MV3Z!-3N1']NH>B$`J@OE+ASXJ&30U0E;X;L7Q$D^Q]J=:D!6U^UOAUF=$+)%
MLBO43M-/_\?*7_-&(,@$??Y&>`DDD.4K=@7660.P!'W^1F`)))`5>^EV/IR1
M99P9-0PP2;^_$6@2*63E1@P[J]L]:(^1^I!F_3*A7)/X/G1#/[Q;7X:;.J/L
MQ[ERLM"@0?-Q\<<K6Q.>R?J[W>E1ECV>Y!]HZ$FIG]'89GL0*_2F5E@XHMWU
MY/)K6<3]&O)GR)(+K\QBM$"N'\!HT<T]HBT3'U[8^=-QEY20[-ZZ)NCUW8U>
ME]H;Y#+1X04\4U1>?:R!=:?=C-Z0VKM-YT7540IEW>>O;?J=Q"GU:W[6)'F8
M0J._T4*@>\-.*KR.0-QL$G)4R_=4A89&BX!V`HM8'*^DOJ'LN.^L>F3\0X,C
M8^OTE5=A:'^AJ^CH!AUWS!\A6E%^.S:ML$VS?R;5!F1GS2V.CR!8TNR*<8LR
M0'*^O>5(SDA"^4T0WD:$/G(&AL%R%?."3P&O()--*=(3\FX^A4"76K>\6I5K
M56I8#O@SYL[7V[]^\0AELK]?7Y%'XLO.^X&=_S8:HI`#CD2"6H>A2K<T4T!S
M#$P*`%+T6G1AO.YX]-\RQLDD%"7\?9">L$A[8,)/1VMK8:QC$)EE[K[2]&W?
M6?G)7Z>A[[.-TY--14G">_BNR5.7+CVLCAP%.7ROZ%PG9\V\+EM%+%%1+E%1
MBIF@U\E8&FM5"]_"<7ZT+Y7N`J?&:KQ,BXC%-HT[>"(4SO,FMK3.#MG:UD?E
M^#A.M=#H(!"/O^_T*;#*&8EC/_6H6IY#(1_$<12`1HF;(H;LL.]0%_8_SK"<
M@B#52*7T6EG<!X';P=+.TQS'"T8,HUZ@5,4F1M]?VY<FU$FEJR(]6<ZB`H6:
M=D8?6ML7%$+Y',@5U=/J@>./30X<S]X.'-\.'-\.'-%J3642ZT!SKOZ&1XSM
MB.OM;/$5JL;;V>+;V>+;V>+;V6*+J,DO(4M[O%;4RG>+FQ<"[@XV^55):8_7
M"EM[MXS?ZJ;LT[E1E%PY>RNY\E9R1:_D2MLWUI,'R5PO7F\K74MG7W%S!-AT
M?3]=S'QVUZYYJ8YV+'IS0@RI-?`WPJW$<0;6CX:GWS:6'HUZ`KM_`D626YM1
MO;9C5*^O0$%.!EL!O9QV*+0/VAE'JEF;N(?Z0L"4Y2"GN1':AI.Y-%$`XX<+
MMU2%]0T5T`]-M8$N;!0L-^0PZ\)KN,8`7.P0K!"F$@QLRJMS1Q-"DR>!A86N
M?RHG$7PZM@:]Z6@X^CRS)H.I-?O2FPZZJ7$M(%(Q92A[&;2/,FW<_ATV)UQX
M_BHFKB9GPMXFW6$@:(77%_2D@F.J&Y%X&#![(E=A)`HOEMH8]28;X%++(@[I
M3[)-2_*Z]87WZ+EL&N3K[SB^)[3G_O<JBF5YU3H#&/4/&^"F+QP<H"KF@83X
ME[5(=QT`CV;4H6Q_^E2)#0?VA;FF]\AXYD<7\S");`:)(M^'/A-\M&$+,N7"
MQC'J:>X*GFBZUA$A#@WX1KR[>[[</Q)JWY'1*LW&3:0R7L51;`?N9LN4$Y`H
ME-QP,*-78EK4A=V$B4,A%.)H-NT;OF/2(L1`\;R28EN"=5'RCNS/>CO7CAZ/
M%=`-?#$6W-N@F2;ZQL0VXT$M2"EI60>$.U?(8[%J&71TK:<?!LQ.8X\M]"_?
MWE+#N8A&8<Q:16P/P"Q_&&RFA^1WPJ/TW0;%N,^%H-B.,!%%^:;$MQEY$YO&
MZ^0HFS'.+Q*J)\]/Y<GS].38F@ZN>O/!A37I3>>_6_-I;S3K]>?#\:CS)[@5
MC`!G4^U1VK34GNMZ_&NVGR-#/5FJNYF<,AOB4HB:`^6"PR=-KC)-[#7?617I
M[:\HEU9ZP..D_Q#M434',;I!;0'B9D+;F^.Z^0W_WZT=$?:3_P]02P,$%```
M``@`;(E(0AYI?MH,$```]:4``!$`'`!P96EX+3(P,3(P.3,P+GAS9%54"0`#
M"W@540MX%5%U>`L``00E#@``!#D!``#M75MWVD@2?MX]9_^#EG/V;/:!J^-,
M[(EGC@PB88,1$=B>R<L<(370&]%-6I(-^^NW6C=T:R$<9ZPLY"&&[JI657U]
MJ>IN%>]^W:PLZ0$Q&U-R56LW6C4)$8.:F"RN:K>3NCSI#@8UZ==?_O97"?Z]
M^WN]+O4QLLQ+J4>-^H#,Z<_22%^A2^D](HCI#F4_2W>ZY?(2VL<68E*7KM86
M<A!4^$^ZE,X:KV=2O5ZBV3M$3,INM4'4[-)QUI?-YN/C8X/0!_V1LB]VPZ#E
MFIM0EQDH:FNM&\A9_F&W_]'I=5KM,_ASUMC,08>>[D`]+VNV.LW6VVFG?=EJ
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MH82XJWSKF`YK.MLU:@)1':@0PT;$MY\IR0`R\.)\Z;R:'.G6"&\B!@.&MVU@
MAFQO;/&QN/)X6A=G?#ZQT`H1IT_9JH?FNFL!A%]=W<)SC,R:Y.AL@1S>ZVT^
M&$NV&@XAG1`*(PWFE*"$EZW7&(82%/SE'>]SE]S&4]!$XA]@)BE^!B=JPGAT
MN=0R,17B8&?+!R=;>4^J2=B\JA52\&>#)-[3333'!'LBPO"'Z4,*6>,?=6)*
M?CM2K*%WS703L89=&YDJ^<7[O`8=H!F/:0@%`6-`(F`R=,MPK<-X=J+DL@0%
MH<6_"8,N)3:UL`D3L7FM6WPJF"P1<FP?`'&UV/H=,#F?F5%@_JXZFJC#04^>
M*CWI6A[*HZXB33XHRG1R,GV>;<<Z`UV7R,&@P1X<DK1B4,[*@R*]2C3ZKQ-(
M@>$C^]GJ7%US/PPDR!DH`CHQ.*^+P)E,X<^-,@)@U+ZDCA5-G@Z`X`1+CKF[
MNKWL6_1Q#RH[,C$HY^5!Z<J3#U)_J-Z?0,FS]L2AQI<EM4P(3)2O+BR_Q>CD
MT(MA>E,>ILE4[7[\H`Y[BC;YIZ1\NAU,?S]JP%2VT`G^KR<?N%C7NHW!_..8
MICY0)>C$`/W$/3"(M"QJNPS!EW9#4K7W\FCPV9O()'G$5Z#)P,-HK"D3P,NK
M.6IL[G2&]9F%!L1!4.WX?JN/AZ!.C,';-`:=AG0G:P/Y>JA(@]%4`:M/);#[
ML8^(`7D`E2C#*%A!X@5B^UZD[7O6`+/>@4%5;:`<]ZK0@T#X`:1["$T:+Q":
MM-U*F_1U0X*)>W`'4\/=T9MTYH2VA$]B([;31CSG1KR>'K7U[G7&=!)&N-$W
ML14[:2N^:8";<7,#:Y?G4G@KV+VL:?+HZ$/:U0H[GAL'?@+X=PXF"T2,:#HM
M(A`#<)8&X"<?@,'4]^VX_<'OFPY&[Y51]]@GW+Z.F;>I?8-T;B_/VK[Y\ZO$
MAG^=-OS;AM27!QHX#\-;1;I1Y,FMYCO81VUR16<$.K(]1FRRU!GRK9TI%1OZ
M/&WHBX:DR-H(>O1$@I!?FGR0->6H;:PABP>*8YTYVRE,V;9NQ/9?A+5BF[_)
M!":MAJ0I0R]R',O:]'=I"E/Z1.Z>]ELF[LQ&7UU02^'^L&_S=*'8U-D8$(+`
MR>WU!()PF#PDA;O*1VW@,:-K!'V7GW1\=?&:S\P]9'3`AU.)%<1]^XC$`&0"
M0`A0QAK?3(1>SI=/OALRYA.Y]`I:Y$>R;8E"F\>]^PL!MDX6&$)MV;:18V<0
M*2(0HY$)%U_S<'$JC]X/>$`N3R;>-OP)B`@(V3"HZSF+?<J4%6+<:41]1E?7
M.OG"W+5C;#/@',HD!*R3"4;!`96[7?76\SFEOJI)X`5IW/M4I+ZFWDC7\NBC
M=CN>=G\_X9@84/`13?4-RAM+N75B5#+1[5L^C"`P4*2I_)MR&D')!0;-$6-\
MIYT:7W*6%E&UV/Z9N/B"+RI*7]$T;^^=A\8G"&).%#=M_5J'QOEM+01.*G]N
M!HL2=&)0,K&RYVIQ+.K7\D3A@?+-6`&OUMM[/\$3&R&63ASUD2!F=RDQP>R>
M_6>8(+./B4X,K%N[<ZKL$'HZOQC.3`3>/H=!-I3!45/O1XHVX1L?/<#31_9Z
M,((/_<%('G4'\C!^`':"^I"#KS&U\&[;Z@!Z,929&+_T09CT*FS^N&'+/_>:
M\B*[Z&0LH!!#D]D**#@?DU[YS1TW%+%SL;C]L\5BHV<V!9*'9B<[IT[/XG;.
M%HOMG(G]DR=I)SN'1VI)`T??Q9;-Q/'!\=K)I'L.@^*6WD\F!.`L+RXO/!@Z
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MDQH^AS"(X3KX@OAI5)79$DR,IT(*,30'7"$_C:&]4'3V8]$I`",3+)<`0VJ?
MX!#9NKT?CG8!')G(N0P<G>.&([TOGIBC1)5B"#(1M6#7_#0SB6V?6M+W4HG1
MR(38Q6B<%N_B5V/R\2E-+<8I$Z,7OSKS_PT8_X^G7-/07/)2M5WRC%Y7-1OS
MC'RUH&S)T/RJQG-ZU<,$6W^`:HW-R@I)>-,%J=H\J-/6"!X<-J$S(]-*)I4<
M-.*]1P(^=C,4/FS`P0YGCQ]I2?PY,,$VGT-E2Y\=JC*P(.L[ZCKD[3^KDM#[
M#E4RU6&_DZK=W5.>56$8.H<JG!QMWTG?7O20N+I!"KOF+H==\#V=Y^X=*$Z9
M(Y%,XKRB1(I^"L@A-;RF"ECXMWK(5^=%]7:G?M9N;&QS)^DA0NS,<)@0(=\3
MA,C/$%GR\2$#?^[Y04\4)9`4/#B7AW^H[YC+/K\P&V71\W,9F\AR[+#D&Z7)
M9I)\NCA>6T^0IT02S3*=(\XY\AEY)[G@G;/]YAN%>9H@3Y8BT?DP>4"V<W"?
MC;$%G\78!,E`/6>/S]-_\$TV:F)GR_?7&+A[]@U:S1"K><+ZFW"">FQ9_'C^
MJN8PE\^N/)WL)<RZF)I3;W$P73^_74WR%PL_I^JE25<Z)@,'K3@9Z.C.;)B4
M74[ZGE%W?57SV\)`4B2[XBQU0JVDP.G"%Y?R'CG@#SL@!V+V>P:-)@4NJ']Y
MV8,3C(%MN^#L&@X%P:!SM5(J["6KF"8]9'B2\7=>BE3)I7MQ7>X&2CS19U(!
M4>6+2_T1$\06VZ2TZ<(7ES+VIE92TKR*%Y<V[*UMO[O^V[6V?.K/[](BHLIH
MT2FCA8BH,EKX\DW0V@FG#H$F180OKDU1>FT9VN2N0*A0.5H]^!3J=+B./@6T
M@LGB^0`;8GV&+>QX;_0E$$K6[!77#]><L&KFS\)7-8,A<*"22JPH08[.ML^@
M1G3"()O_<6W_O%0EX*X]\``8).:7/P":76XS7\DG\!V`V)]K@Y@*4ZHA@Q(#
M6RB>1':$G"&UH9;G][VUD3D@0?YELI`-!S]X,*=[]O.W6[E1$-ZNS4`_UK%Y
MCYVE]\IY:)#2U)7M*ET(#Q;(CL/DI6>!GAX;[^F.<"A7Y6"&?LI[Z&`%X:>C
MSG=93I0-CK3<1U194$?40<%ZVJ=L[#)CJ=M(G9^=^1[;$J_#G@L8BO+G!D9X
MGK8J:ZM4.@^8H4Q$3%LV#!#4C-S=?51/U\]$L^^H'LS2EF[;ZCR]B&^GU,\8
M?KNFA'=S"]DV]'AE@YB!.<+I%?)YFJIL1^CQ]2Q8R(!7G?<9)8[&)[K(LRLD
MJ:QFW:30(_0X5CY0RS3H;ENK@*+*>@6_%>:]618;H.!_\(TZDEBLRY/_Z!I[
MEPGL`_6.F)ZZ-GO\SZ"D)XV_X@3S1CB11"H5DU06/M_$^7(G,2M%^>)`Q80<
M$.[V*AON"[K87@:I=+/:B`@K"]K^-UG3WO$A')7SC/,]N+2*^ZA^$+6F:.-<
M6[$U8C_94[>BG+"-9PE2HY<.T\#D5E4.C=AK99G=L[RJ"BHP<[*2Q\LJ)W)L
MJ8]M8V4B^SU4E51+\%I$GFY[22NG8.Z5Z;1J>X@JIU0J(79:'6%UY13QMD>F
M-"=K85JG,I254X]??059>7)-G6PCV0>DN]37L$2VVRK3$(TY/)DE]=N:J,)R
M6SZGX>&>8):S<GV@*%-@.;\P35LY%3/)^`K<JLHKD\EX5^!B_0#*A-GE\MRM
MRHN_-V7;`3Y*Y96=Z"!?3(',4E!$4(6)OB"96RF'J_((Y:=*2^NVCZIR:AV>
M;.SPA5K<0N7,,<0$J?.NMRW6I19_AXGI%C^-#]4MI*CJS8["!%CE')$,<>6P
MX\=G?.*'/_Q,[0%F3)A8[@9*M$`4$#P9N>][!JDZ2\2Z+N,_E>[?$XCI(ZJL
MJ"YY/RP4TT9<75%]///G@_(#H#&ECFYEI,^45E3ZH-?';LS$Q[F@LJJS\Y"2
M!?3ZR9(R9XK8RO_EU6"YR:^KJBI>[\]');^JJHIX`R%?D?RJJBI2+O?E03[`
MC^#(99-+%NQ+5-^WR283+-B9^!'5$?;$4J254U`V3>^-8-WB@;JK9_$JHJB<
M.B,>Q-EX0?A%Y1TB,5]GMU5?@K*B3D4LMV'>CEGUAQ6_?(;\RV?1[>)XO+J[
MG;N7KJK+65[^R0*P?H2Y@K\-P$Q^O<=?:[W3KK&^Y4+%TZC$+I.6I:_LS:#P
M1E9T3,YO_&O(7B-^73QVDJY&MV)#%F^#*=IO^_9V7OHJV`@Y_B6OA+S^C:_8
M=?HBFI=687]^Q0/VZJL_S:;VXJ^W71AS"\JVZIRW+F]V_;,4Z9^LH.E<FABD
MX==:!P>>2V1N&PCKJXZ:AOC[C=#T#?R_<E?RBO^,KU_O\-]2W,`TRK"!HG0%
M`IV?U%!%/:#]PU+DSCZ%LW)=)'Q%IZ##%Y)43J&BG)&ECN6J/QGO7CZ%U7"U
MYOSVC<Z^@.#>!LV6IY#C(S*C9PF&PT]6W16O-T#$[P0?=W!N"9W9B#WX.S1K
M%]P>W_W91C?=P_VIK<=?A/%3&ZRL;\E?Z%?G<\0[6*AXJJRRLD?O\*<5R*NH
MK!:"Y)S[#LNK/]D()!8MBJ7)*Z=H[)WL"3)<YFUT][#E\EC:#T4@[.3OOF$3
M@E#^:@JO1*97EWQ]ZAM:>>G`9D\64Q'N![-5#O_=[F1,E]RT!OOH*J=:UH,+
M'/<[:KDKI*&O+F:QUY=+DY?WZ7>^PH/7R$%:O6OZJ=S@X_\`4$L!`AX#%```
M``@`;(E(0HZQN::,5`$`WS<1`!$`&````````0```*2!`````'!E:7@M,C`Q
M,C`Y,S`N>&UL550%``,+>!51=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`
M;(E(0IB()44-$@``\=H``!4`&````````0```*2!UU0!`'!E:7@M,C`Q,C`Y
M,S!?8V%L+GAM;%54!0`#"W@5475X"P`!!"4.```$.0$``%!+`0(>`Q0````(
M`&R)2$(,7=H8WQH``->6`0`5`!@```````$```"D@3-G`0!P96EX+3(P,3(P
M.3,P7V1E9BYX;6Q55`4``PMX%5%U>`L``00E#@``!#D!``!02P$"'@,4````
M"`!LB4A"8W?ZJ4A,``"E$`0`%0`8```````!````I(%A@@$`<&5I>"TR,#$R
M,#DS,%]L86(N>&UL550%``,+>!51=7@+``$$)0X```0Y`0``4$L!`AX#%```
M``@`;(E(0F35!2"Q+P``Y]T"`!4`&````````0```*2!^,X!`'!E:7@M,C`Q
M,C`Y,S!?<')E+GAM;%54!0`#"W@5475X"P`!!"4.```$.0$``%!+`0(>`Q0`
M```(`&R)2$(>:7[:#!```/6E```1`!@```````$```"D@?C^`0!P96EX+3(P
M,3(P.3,P+GAS9%54!0`#"W@5475X"P`!!"4.```$.0$``%!+!08`````!@`&
+`!H"``!/#P(`````
`
end

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>9. PREFERRED STOCK (Dec 2011 only)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockTextBlock', window );">9. PREFERRED STOCK (Dec 2011 only)</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
has 6,734,835 undesignated shares of authorized and unissued preferred stock, which may be designated and issued in the future
on the authority of the Company&#146;s Board of Directors. As of December 31, 2011, the Company had the following designated
preferred stock:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Series
A Preferred Stock</u></i> &#150; The Company has authorized 1,684,375 shares of Series A Cumulative Redeemable Convertible Preferred
Stock (&#147;Series A Preferred Stock&#148;), with none outstanding at December 31, 2011 and 2010. Shares of Series A Preferred
Stock that are converted into shares of the Company&#146;s common stock revert to undesignated shares of authorized and unissued
preferred stock.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Upon any
issuance, the Series A Preferred Stock would rank senior in liquidation and dividend preferences to the Company&#146;s common
stock. Holders of Series A Preferred Stock would be entitled to quarterly cumulative dividends payable in arrears in cash in an
amount equal to 5% per annum of the purchase price per share of the Series A Preferred Stock. The holders of the Series A Preferred
Stock would have conversion rights initially equivalent to two shares of common stock for each share of Series A Preferred Stock,
subject to customary antidilution adjustments. Certain specified issuances will not result in antidilution adjustments. The shares
of Series A Preferred Stock would also be subject to forced conversion upon the occurrence of a transaction that would result
in an internal rate of return to the holders of the Series A Preferred Stock of 25% or more. Accrued but unpaid dividends on the
Series A Preferred Stock are to be paid in cash upon any conversion of the Series A Preferred Stock.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The holders
of Series A Preferred Stock would have a liquidation preference over the holders of the Company&#146;s common stock equivalent
to the purchase price per share of the Series A Preferred Stock plus any accrued and unpaid dividends on the Series A Preferred
Stock. A liquidation would be deemed to occur upon the happening of customary events, including transfer of all or substantially
all of the Company&#146;s capital stock or assets or a merger, consolidation, share exchange, reorganization or other transaction
or series of related transaction, unless holders of 66 2/3% of the Series A Preferred Stock vote affirmatively in favor of or
otherwise consent to such transaction.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Series
B Preferred Stock</u></i> &#150; The Company has authorized 1,580,790 shares of Series B Preferred Stock, with 926,942 and 1,455,924
outstanding at December 31, 2011 and 2010, respectively. Shares of Series B Preferred Stock that are converted into shares of
the Company&#146;s common stock revert to undesignated shares of authorized and unissued preferred stock.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Series
B Preferred Stock ranks senior in liquidation and dividend preferences to the Company&#146;s common stock. Holders of Series
B Preferred Stock are entitled to quarterly cumulative dividends payable in arrears in cash in an amount equal to 7.00% per annum
of the purchase price per share of the Series B Preferred Stock; however, subject to the provisions of the Letter Agreement described
below, such dividends may, at the option of the Company, be paid in additional shares of Series B Preferred Stock based initially
on the liquidation value of the Series B Preferred Stock. The holders of Series B Preferred Stock have a liquidation preference
over the holders of the Company&#146;s common stock initially equivalent to $19.50 per share of the Series B Preferred Stock
plus any accrued and unpaid dividends on the Series B Preferred Stock. A liquidation will be deemed to occur upon the happening
of customary events, including the transfer of all or substantially all of the capital stock or assets of the Company or a merger,
consolidation, share exchange, reorganization or other transaction or series of related transaction, unless holders of 66 2/3%
of the Series B Preferred Stock vote affirmatively in favor of or otherwise consent that such transaction shall not be treated
as a liquidation. The Company believes that such liquidation events are within its control and therefore has classified the Series
B Preferred Stock in stockholders&#146; equity<i>.</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i>&#160;</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The holders
of the Series B Preferred Stock have conversion rights initially equivalent to 0.43 shares of common stock for each share of Series
B Preferred Stock. The conversion ratio is subject to customary antidilution adjustments. In addition, antidilution adjustments
are to occur in the event that the Company issues equity securities, including derivative securities convertible into equity securities
(on an as-converted or as-exercised basis), at a price less than the conversion price then in effect. The shares of Series B Preferred
Stock are also subject to forced conversion upon the occurrence of a transaction that would result in an internal rate of return
to the holders of the Series B Preferred Stock of 25% or more. The forced conversion is to be based upon the conversion ratio
as last adjusted. Accrued but unpaid dividends on the Series B Preferred Stock are to be paid in cash upon any conversion of the
Series B Preferred Stock.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The holders
of Series B Preferred Stock vote together as a single class with the holders of the Company&#146;s common stock on all actions
to be taken by the Company&#146;s stockholders. Each share of Series B Preferred Stock entitles the holder to three votes on
all matters to be voted on by the stockholders of the Company. Notwithstanding the foregoing, the holders of Series B Preferred
Stock are afforded numerous customary protective provisions with respect to certain actions that may only be approved by holders
of a majority of the shares of Series B Preferred Stock.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In 2008,
the Company entered into Letter Agreements with Lyles United LLC (&#147;Lyles United&#148;) and other purchasers under which
the Company expressly waived its rights under the Certificate of Designations relating to the Series B Preferred Stock to make
dividend payments in additional shares of Series B Preferred Stock in lieu of cash dividend payments without the prior written
consent of Lyles United and the other purchasers.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Registration
Rights Agreement</u>&#160;</i>&#150; In connection with the sale of its Series B Preferred Stock, the Company entered into a
registration rights agreement with Lyles United. The registration rights agreement is to be effective until the holders of the
Series B Preferred Stock, and their affiliates, as a group, own less than 10% for each of the series issued, including common
stock into which such Series B Preferred Stock has been converted. The registration rights agreement provides that holders of
a majority of the Series B Preferred Stock, including common stock into which such Series B Preferred Stock has been converted,
may demand and cause the Company to register on their behalf the shares of common stock issued, issuable or that may be issuable
upon conversion of the Preferred Stock and as payment of dividends thereon, and upon exercise of the related warrants (collectively,
the &#147;Registrable Securities&#148;). The Company is required to keep such registration statement effective until such time
as all of the Registrable Securities are sold or until such holders may avail themselves of Rule 144 for sales of Registrable
Securities without registration under the Securities Act of 1933, as amended. The holders are entitled to two demand registrations
on Form S-1 and unlimited demand registrations on Form S-3; provided, however, that the Company is not obligated to effect more
than one demand registration on Form S-3 in any calendar year. In addition to the demand registration rights afforded the holders
under the registration rights agreement, the holders are entitled to unlimited &#147;piggyback&#148; registration rights. These
rights entitle the holders who so elect to be included in registration statements to be filed by the Company with respect to other
registrations of equity securities. The Company is responsible for all costs of registration, plus reasonable fees of one legal
counsel for the holders, which fees are not to exceed $25,000 per registration. The registration rights agreement includes customary
representations and warranties on the part of both the Company and the holders and other customary terms and conditions.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
recorded preferred stock dividends of $1,265,000 and $2,847,000 for the years ended December 31, 2011 and 2010, respectively.
As of December 31, 2011, the Company had accrued and unpaid dividends of $7,315,000.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EquityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELLAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>3. INVENTORIES (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNetAbstract', window );"><strong>Inventory balances</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryFinishedGoods', window );">Finished goods</a></td>
        <td class="nump">$ 8,089<span></span></td>
        <td class="nump">$ 9,429<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryWorkInProcess', window );">Work in progress</a></td>
        <td class="nump">4,164<span></span></td>
        <td class="nump">4,284<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterials', window );">Raw materials</a></td>
        <td class="nump">1,273<span></span></td>
        <td class="nump">1,334<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherInventorySupplies', window );">Other</a></td>
        <td class="nump">848<span></span></td>
        <td class="nump">1,084<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Total</a></td>
        <td class="nump">$ 14,374<span></span></td>
        <td class="nump">$ 16,131<span></span></td>
        <td class="nump">$ 17,306<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryFinishedGoods">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before last-in first-out (LIFO) and valuation reserves of merchandise or goods held by the entity that are readily available for sale.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryFinishedGoods</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNetAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryNetAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryRawMaterials">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross amount of unprocessed items to be consumed in the manufacturing or production process. Also includes purchased parts that will be used as components of a finished product.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a)(4))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryRawMaterials</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryWorkInProcess">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross amount of merchandise or goods which are partially completed, are generally comprised of raw materials, labor and factory overhead costs, and which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a)(3))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryWorkInProcess</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherInventorySupplies">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross amount of products used directly or indirectly in the manufacturing or production process, which may or may not become part of the final product. May also include items used in the storage, presentation or transportation of physical goods.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Paragraph 3<br><br> -Chapter 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a)(5))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Section A<br><br> -Paragraph 9<br><br> -Chapter 3<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Inventory<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516093<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherInventorySupplies</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R24.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_NotesToFinancialStatementsAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock', window );">15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only)</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Since the
consolidated financial statements of the Company include entities other than the Plant Owners, below are the condensed combined
financial statements of the Plant Owners for the periods included in these consolidated financial statements during the pendency
of their Chapter 11 Filings. These condensed combined financial statements have been prepared, in all material respects, on the
same basis as the consolidated financial statements of the Company. The condensed combined financial statements of the Plant Owners
during the pendency of their Chapter 11 Filings are as follows (unaudited, in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>PACIFIC
ETHANOL HOLDING CO. LLC AND SUBSIDIARIES</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>CONDENSED
COMBINED STATEMENTS OF OPERATIONS</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>January
1, 2010 to June 29, 2010</b></font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 86%"><font style="font-size: 8pt">Net sales</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">89,737</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Cost of goods sold</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">98,140</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Gross loss</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(8,403</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Selling, general and administrative expenses</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,829</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Loss from operations</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(10,232</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other expense, net</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,253</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Loss before reorganization costs and gain from bankruptcy exit</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(11,485</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Reorganization costs</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(4,153</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Gain from bankruptcy exit</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">119,408</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Net income</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">103,770</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>PACIFIC
ETHANOL HOLDING CO. LLC AND SUBSIDIARIES</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>CONDENSED
COMBINED STATEMENTS OF CASH FLOWS</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>January
1, 2010 to June 29, 2010</b></font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-weight: bold"><font style="font-size: 8pt">Operating Activities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 86%"><font style="font-size: 8pt">Net income</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">103,770</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-left: 9pt; text-indent: -9pt; text-align: justify"><font style="font-size: 8pt">Adjustments to reconcile
    net income to ash used in operating activities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Gain on bankruptcy exit</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(119,408</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Depreciation and amortization of intangibles</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">5,064</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Gain on derivative instruments</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(1,206</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Amortization of deferred financing costs</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">85</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Changes in operating assets and liabilities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Accounts receivable</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(5,059</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Inventories</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">2,948</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Prepaid expenses and other assets</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">159</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Accounts payable and accrued expenses</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">6,839</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Net cash used in operating activities</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(6,808</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="font-weight: bold"><font style="font-size: 8pt">Investing Activities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Additions to property and equipment</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(310</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Net cash impact of bankruptcy exit</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,301</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Net cash used in investing activities</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,611</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="font-weight: bold"><font style="font-size: 8pt">Financing Activities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Proceeds from borrowings under DIP financing</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">5,173</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Net cash provided by financing activities</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">5,173</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Net decrease in cash and cash equivalents</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(3,246</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Cash and cash equivalents at beginning of period</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">3,246</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Cash and cash equivalents at end of period</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_NotesToFinancialStatementsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_NotesToFinancialStatementsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Partial company financials in Chapter 11 or Reorganizaiton text block</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_PartialCompanyFinancialInChapter11OrReorganizationTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.1.0.1
 *
 */

var moreDialog = null;
var Show = {
    Default:'raw',

    more:function( obj ){
        var bClosed = false;
        if( moreDialog != null )
        {
			try
			{
				bClosed = moreDialog.closed;
			}
			catch(e)
			{
				//Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control
				// that somtimes causes it to throw when checking the closed property on a child window that has been
				//closed.  So if the exception occurs we assume the window is closed and move on from there.
				bClosed = true;
			}

			if( !bClosed ){
				moreDialog.close();
			}
        }

        obj = obj.parentNode.getElementsByTagName( 'pre' )[0];
		var hasHtmlTag = false;
		var objHtml = '';
		var raw = '';

		//Check for raw HTML
		var nodes = obj.getElementsByTagName( '*' );
		if( nodes.length ){
			objHtml = obj.innerHTML;
		}else{
			if( obj.innerText ){
				raw = obj.innerText;
			}else{
				raw = obj.textContent;
			}

			var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g );
			if( matches && matches.length ){
				objHtml = raw;

				//If there is an html node it will be 1st or 2nd,
				//   but we can check a little further.
				var n = Math.min( 5, matches.length );
				for( var i = 0; i < n; i++ ){
					var el = matches[ i ].toString().toLowerCase();
					if( el.indexOf( '<html' ) >= 0 ){
						hasHtmlTag = true;
						break;
					}
				}
			}
		}

        if( objHtml.length ){
			var html = '';

			if( hasHtmlTag ){
				html = objHtml;
			}else{
				html = '<html>'+
					"\n"+'<head>'+
					"\n"+'    <title>Report Preview Details</title>'+
					"\n"+'    <style type="text/css">'+
					"\n"+'    body {'+
					"\n"+'    }'+
					"\n"+'    table {'+
					"\n"+'    }'+
					"\n"+'    </style>'+
					"\n"+'</head>'+
					"\n"+'<body>'+
						objHtml +
					"\n"+'</body>'+
					"\n"+'</html>';
			}

			moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes");
			moreDialog.document.write( html );
			moreDialog.document.close();

			if( !hasHtmlTag ){
				moreDialog.document.body.style.margin = '0.5em';
			}
        }
        else
        {
			//default view logic
			var lines = raw.split( "\n" );
			var longest = 0;

			if( lines.length > 0 ){
				for( var p = 0; p < lines.length; p++ ){
					longest = Math.max( longest, lines[p].length );
				}
			}

			//Decide on the default view
			this.Default = longest < 120 ? 'raw' : 'formatted';

			//Build formatted view
			var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ;
			var formatted = '';

			if( text.length > 0 ){
				if( text.length == 1 ){
					text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ;
					formatted = "<p>"+ text.join( "<br /><br />\n" ) +"</p>";
				}else{
					for( var p = 0; p < text.length; p++ ){
						formatted += "<p>" + text[p] + "</p>\n";
					}
				}
			}else{
				formatted = '<p>' + raw + '</p>';
			}

			html = '<html>'+
				"\n"+'<head>'+
				"\n"+'    <title>Report Preview Details</title>'+
				"\n"+'    <style type="text/css">'+
				"\n"+'    body {'+
				"\n"+'       background-color: #f0f9ee;'+
				"\n"+'       font-family: Arial, san-serif; font-size: 0.8em;'+
				"\n"+'    }'+
				"\n"+'    table {'+
				"\n"+'       font-size: 1em;'+
				"\n"+'    }'+
				"\n"+'    </style>'+
				"\n"+'</head>'+
				"\n"+'<body>'+
				"\n"+'    <table border="0" width="100%">'+
				"\n"+'    <tr>'+
				"\n"+'        <td>'+
				"\n"+'            formatted: <a href="javascript:void(0);" onclick="opener.Show.toggle( window, this );">'+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +'</a>'+
				"\n"+'        </td>'+
				"\n"+'    </tr>'+
				"\n"+'    <tr>'+
				"\n"+'        <td>'+
				"\n"+'            <div id="formatted" style="display: none;">'+formatted+'</div>'+
				"\n"+'        </td>'+
				"\n"+'    </tr>'+
				"\n"+'    <tr>'+
				"\n"+'        <td>'+
				"\n"+'            <pre id="raw" style="display: none; font-size: 1.2em;">'+raw+'</pre>'+
				"\n"+'        </td>'+
				"\n"+'    </tr>'+
				"\n"+'    </table>'+
				"\n"+'</body>'+
				"\n"+'</html>';

			moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes");
			moreDialog.document.write(html);
			moreDialog.document.close();

			this.toggle( moreDialog );
        }

		moreDialog.document.title = 'Report Preview Details';
    },

    toggle:function( win, domLink ){
        var domId = this.Default;

        var doc = win.document;
        var domEl = doc.getElementById( domId );
        domEl.style.display = 'block';

        this.Default = domId == 'raw' ? 'formatted' : 'raw';

        if( domLink ){
            domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed';
        }

        var domElOpposite = doc.getElementById( this.Default );
        domElOpposite.style.display = 'none';
    },

	LastAR : null,
	showAR : function ( link, id, win ){
		if( Show.LastAR ){
			Show.hideAR();
		}

		var ref = link;
		do {
			ref = ref.nextSibling;
		} while (ref && ref.nodeName != 'TABLE');

		if (!ref || ref.nodeName != 'TABLE') {
			var tmp = win ?
				win.document.getElementById(id) :
				document.getElementById(id);

			if( tmp ){
				ref = tmp.cloneNode(true);
				ref.id = '';
				link.parentNode.appendChild(ref);
			}
		}

		if( ref ){
			ref.style.display = 'block';
			Show.LastAR = ref;
		}
	},

	toggleNext : function( link ){
		var ref = link;

		do{
			ref = ref.nextSibling;
		}while( ref.nodeName != 'DIV' );

		if( ref.style &&
			ref.style.display &&
			ref.style.display == 'none' ){
			ref.style.display = 'block';

			if( link.textContent ){
				link.textContent = link.textContent.replace( '+', '-' );
			}else{
				link.innerText = link.innerText.replace( '+', '-' );
			}
		}else{
			ref.style.display = 'none';

			if( link.textContent ){
				link.textContent = link.textContent.replace( '-', '+' );
			}else{
				link.innerText = link.innerText.replace( '-', '+' );
			}
		}
	},

	hideAR : function(){
		Show.LastAR.style.display = 'none';
	}
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>48
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>1. ORGANIZATION AND BASIS OF PRESENTATION<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_OrganizationAndBasisOfPresentationAbstract', window );"><strong>Organization And Basis Of Presentation</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock', window );">1. ORGANIZATION AND BASIS OF PRESENTATION.</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Organization
and Business</u></i> &#150; The consolidated financial statements include the accounts of Pacific Ethanol, Inc., a Delaware corporation
(&#147;Pacific Ethanol&#148;), and its wholly-owned subsidiaries, including Kinergy Marketing LLC, an Oregon limited liability
company (&#147;Kinergy&#148;) and its wholly-owned subsidiary Pacific Ag. Products, LLC, a California limited liability company
(&#147;PAP&#148;) for all periods presented, and for the periods specified below, the Plant Owners (as defined below) (collectively,
the &#147;Company&#148;).</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">The
Company is the leading marketer and producer of low-carbon renewable fuels in the Western United States. The Company also sells
ethanol co-products, including wet distillers grain and syrup (&#147;WDG&#148;), and provides transportation, storage and delivery
of ethanol through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah,
Oregon, Colorado, Idaho and Washington. The Company sells ethanol produced by the Pacific Ethanol Plants (as defined below) and
unrelated third parties to gasoline refining and distribution companies and sells its WDG to dairy operators and animal feed distributors.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
manages the production and operation of the four ethanol production facilities, namely, Pacific Ethanol Madera LLC, Pacific Ethanol
Columbia, LLC, Pacific Ethanol Stockton, LLC and Pacific Ethanol Magic Valley, LLC (collectively, the &#147;Pacific Ethanol Plants&#148;)
and their holding company, Pacific Ethanol Holding Co. LLC (&#147;PEHC,&#148; and together with the Pacific Ethanol Plants,
the &#147;Plant Owners&#148;). PEHC is a wholly-owned subsidiary of New PE Holdco LLC (&#147;New PE Holdco&#148;) which, in
turn, is a subsidiary of the Company. These four facilities have an aggregate annual production capacity of up to 200 million
gallons. As of September 30, 2012, three of the facilities were operating and one of the facilities was idled. When market conditions
permit, and with approval of New PE Holdco, the Company intends to resume operations at the Madera, California facility.</font></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On October
6, 2010, the Company purchased an initial 20% ownership interest in New PE Holdco, a variable interest entity (&#147;VIE&#148;),
from a number of New PE Holdco&#146;s owners. At that time, the Company determined it was the primary beneficiary of New PE Holdco,
and as such, has consolidated the results of New PE Holdco since then. See Note 2 &#150; Variable Interest Entity. On each of
November 29, 2011 and December 19, 2011, the Company purchased an additional 7% ownership interest in New PE Holdco. Further,
on July 13, 2012, the Company purchased an additional 33% ownership interest in New PE Holdco, bringing the Company&#146;s total
ownership interest in New PE Holdco to 67% as of September 30, 2012.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Liquidity
</u></i>&#150; Despite the liquidity risks relative to the Plant Owners&#146; credit facilities, the Company believes that current
and future available capital resources, revenues generated from operations, and other existing sources of liquidity, including
its credit facilities, will be adequate to meet its anticipated working capital and capital expenditure requirements for the next
twelve months. See Note 5 &#150; Debt. If, however, the Company&#146;s capital requirements or cash flow vary materially from
its current projections, or if other unforeseen circumstances occur, such as a lack of significant improvement or further deterioration
of corn crush margins, the Company may require additional financing during that period. The Company&#146;s failure to raise capital,
if needed, could restrict its growth, hinder its ability to compete and adversely impact its operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Basis
of Presentation</u></i><u>&#150;<i>Interim Financial Statements</i></u><font style="font-family: Times New Roman, Times, Serif; color: black">
</font>&#150; The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance
with accounting principles generally accepted in the United States for interim financial information and the instructions to Form
10-Q and Rule&#160;10-01 of Regulation&#160;S-X. Results for interim periods should not be considered indicative of results for
a full year. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements
for the years ended December 31, 2011 and 2010 and related notes beginning on page F-20 of this prospectus. The accounting policies
used in preparing these consolidated financial statements are the same as those described in Note 1 to such consolidated financial
statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for
a fair statement of the results for interim periods have been included. All significant intercompany accounts and transactions
have been eliminated in consolidation.</font></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Use
of Estimates</u></i> - The preparation of the consolidated financial statements in conformity with accounting principles generally
accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and 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 are required as part of determining the consolidation
of VIEs, fair value of convertible notes and warrants, allowance for doubtful accounts, estimated lives of property and equipment
and intangibles, long-lived asset impairments, valuation allowances on deferred income taxes and the potential outcome of future
tax consequences of events recognized in the Company&#146;s financial statements or tax returns. Actual results and outcomes
may materially differ from management&#146;s estimates and assumptions.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Reclassification
</u></i>- Reclassifications of prior year&#146;s data have been made to conform to 2012 classifications. Such classifications
had no effect on net income (loss) reported in the consolidated statements of operations.</font></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Accounts
Receivable and Allowance for Doubtful Accounts</u></i> &#150; Trade accounts receivable are presented at face value, net of the
allowance for doubtful accounts. The Company sells ethanol to gasoline refining and distribution companies and sells WDG to dairy
operators and animal feed distributors generally without requiring collateral.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process
is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified
number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance
in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has
been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and
the Company&#146;s success in contacting and negotiating with the customer. If the financial condition of the Company&#146;s
customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Of the total
accounts receivable balance, approximately $25,540,000 and $23,715,000 at September 30, 2012 and December 31, 2011, respectively,
were used as collateral under Kinergy&#146;s working capital line of credit. The allowance for doubtful accounts was $9,000 and
$24,000 as of September 30, 2012 and December 31, 2011, respectively. The Company recorded net bad debt recoveries of $15,000
and $185,000 for the nine months ended September 30, 2012 and 2011, respectively.</font></p><span></span></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Organization
and Business</u></i> &#150; The consolidated financial statements include the accounts of Pacific Ethanol, Inc., a Delaware corporation
(&#147;Pacific Ethanol&#148;), and its wholly-owned subsidiaries, including Pacific Ethanol California, Inc., a California corporation
(&#147;PEI California&#148;), Kinergy Marketing, LLC, an Oregon limited liability company (&#147;Kinergy&#148;) and Pacific
Ag. Products, LLC, a California limited liability company (&#147;PAP&#148;) for all periods presented, and for the periods specified
below, New PE Holdco, which owns the Plant Owners (each as defined below) (collectively, the &#147;Company&#148;).</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
is the leading marketer and producer of low carbon renewable fuels in the Western United States. The Company also sells ethanol
co-products, including wet distillers grain (&#147;WDG&#148;), and provides transportation, storage and delivery of ethanol
through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado,
Idaho and Washington. The Company sells ethanol produced by the Pacific Ethanol Plants (as defined below) and unrelated third
parties to gasoline refining and distribution companies and sells its WDG to dairy operators and animal feed distributors.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On May 17,
2009, five indirect wholly-owned subsidiaries of Pacific Ethanol, Inc., namely, Pacific Ethanol Madera LLC, Pacific Ethanol Columbia,
LLC, Pacific Ethanol Stockton, LLC and Pacific Ethanol Magic Valley, LLC (collectively, the &#147;Pacific Ethanol Plants&#148;)
and Pacific Ethanol Holding Co. LLC (together with the Pacific Ethanol Plants, the &#147;Plant Owners&#148;) each filed voluntary
petitions for relief under chapter 11 of Title 11 of the United States Code (the &#147;Bankruptcy Code&#148;) in the United
States Bankruptcy Court for the District of Delaware (the &#147;Bankruptcy Court&#148;) in an effort to restructure their indebtedness
(the &#147;Chapter 11 Filings&#148;). Pacific Ethanol, PEI California, Kinergy and PAP did not, at any time, file for protection
under the Bankruptcy Code.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On June 29,
2010 (the &#147;Effective Date&#148;), the Plant Owners declared effective their amended joint plan of reorganization (the &#147;Plan&#148;)
with the Bankruptcy Court, which was structured in cooperation with certain of the Plant Owners&#146; secured lenders. Under
the Plan, on the Effective Date, 100% of the ownership interests in the Plant Owners were transferred to a newly-formed limited
liability company, New PE Holdco, LLC (&#147;New PE Holdco&#148;) which became at that time wholly-owned by certain prepetition
lenders, resulting in each of the Plant Owners becoming wholly-owned subsidiaries of New PE Holdco.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
manages the production and operation of the Pacific Ethanol Plants. These four facilities have an aggregate annual production
capacity of up to 200 million gallons. As of December 31, 2011, three of the facilities were operating and one of the facilities
was idled. When market conditions permit, and with approval of New PE Holdco, the Company intends to resume operations at the
Madera, California facility.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On October
6, 2010, the Company purchased a 20% ownership interest in New PE Holdco, a variable interest entity (&#147;VIE&#148;), from
a number of New PE Holdco&#146;s owners. At that time, the Company determined it was the primary beneficiary of New PE Holdco,
and as such, has consolidated the results of New PE Holdco since then. See Note 2 &#150; Variable Interest Entities. On each
of November 29, 2011 and December 19, 2011, the Company purchased an additional 7% interest in New PE Holdco, bringing the Company&#146;s
total ownership interest in New PE Holdco to 34%. As of December 31, 2011, the Company held a 34% ownership interest in New PE
Holdco.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Basis
of Presentation</u></i> &#150; The consolidated financial statements and related notes have been prepared in accordance with
accounting principles generally accepted in United States (&#147;GAAP&#148;) and include the accounts of the Company. All significant
intercompany accounts and transactions have been eliminated in consolidation.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Consolidation
of Variable Interest Entities</u></i> &#150; Effective January 1, 2010, the Company adopted the amended guidance in the Financial
Standards Accounting Board&#146;s Accounting Standards Codification 810, <i>Consolidation</i>, surrounding a company&#146;s
analysis to determine whether any of its variable interests constitute controlling financial interests in a VIE. This analysis
identifies the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (i) the power to
direct the activities of a VIE that most significantly impact the entity&#146;s economic performance, and (ii) the obligation
to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity
that could potentially be significant to the VIE. Additionally, an enterprise is required to assess whether it has an implicit
financial responsibility to ensure that a VIE operates as designed when determining whether it has the power to direct the activities
of the VIE that most significantly impact the entity&#146;s economic performance. The amended guidance also requires ongoing
reassessments of whether an enterprise is the primary beneficiary of a VIE.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Since January
1, 2010, the Company identified Front Range Energy, LLC (&#147;Front Range&#148;), an entity in which the Company held a 42%
ownership interest, and New PE Holdco as VIEs.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Prior to
January 1, 2010, under the original guidance, the Company determined that it must consolidate Front Range, which owns an ethanol
plant located in Windsor, Colorado, with an annual production capacity of up to 50 million gallons. Under the amended guidance,
the Company determined effective January 1, 2010, that it was no longer the primary beneficiary of Front Range and, as a result,
no longer consolidated Front Range&#146;s results and instead recorded its investment in Front Range under the equity method
of accounting. On October 6, 2010, the Company sold its entire 42% ownership interest in Front Range.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On the Effective
Date, the Company determined that New PE Holdco was a VIE, however, the Company did not believe it was New PE Holdco&#146;s primary
beneficiary. On October 6, 2010, upon the Company&#146;s purchase of a 20% interest in New PE Holdco, the Company determined
that it was New PE Holdco&#146;s primary beneficiary and began consolidating the results of New PE Holdco. As long as the Company
is deemed New PE Holdco&#146;s primary beneficiary, the Company must treat New PE Holdco as a consolidated subsidiary for financial
reporting purposes.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Reverse
Stock Split</u></i> &#150; On June 8, 2011, the Company effected a one-for-seven reverse stock split. All share and per share
information has been restated to retroactively show the effect of this stock split.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Liquidity
</u></i>&#150; The Company believes that current and future available capital resources, revenues generated from operations,
and other existing sources of liquidity, including its credit facilities, will be adequate to meet its anticipated working capital
and capital expenditure requirements for at least the next twelve months. If, however, the Company&#146;s capital requirements
or cash flow vary materially from its current projections, if unforeseen circumstances occur, or if the Company requires a significant
amount of cash to fund future acquisitions, the Company may require additional financing. The Company&#146;s failure to raise
capital, if needed, could restrict its growth, or hinder its ability to compete.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Cash
and Cash Equivalents</u></i> &#150; The Company considers all highly-liquid investments with an original maturity of three months
or less to be cash equivalents.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Accounts
Receivable and Allowance for Doubtful Accounts</u></i> &#150; Trade accounts receivable are presented at face value, net of the
allowance for doubtful accounts. The Company sells ethanol to gasoline refining and distribution companies and sells WDG to dairy
operators and animal feed distributors generally without requiring collateral. Due to a limited number of ethanol customers, the
Company had significant concentrations of credit risk from sales of ethanol as of December 31, 2011 and 2010, as described below.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process
is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified
number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance
in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has
been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and
the Company&#146;s success in contacting and negotiating with the customer. If the financial condition of the Company&#146;s
customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Of the accounts
receivable balance, approximately $23,715,000 and $20,977,000 at December 31, 2011 and 2010, respectively, were used as collateral
under Kinergy&#146;s working capital line of credit. The allowance for doubtful accounts was $24,000 and $287,000 as of December
31, 2011 and 2010, respectively. The Company recorded a bad debt recovery of $218,000 and $184,000 for the years ended December
31, 2011 and 2010, respectively. The Company does not have any off-balance sheet credit exposure related to its customers.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Concentrations
of Credit Risk</u></i> &#150; Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties
failed completely to perform as contracted. Concentrations of credit risk, whether on- or off-balance sheet, that arise from financial
instruments exist for groups of customers or counterparties when they have similar economic characteristics that would cause their
ability to meet contractual obligations to be similarly affected by changes in economic or other conditions described below. Financial
instruments that subject the Company to credit risk consist of cash balances maintained in excess of federal depository insurance
limits and accounts receivable, which have no collateral or security. The Company has not experienced any losses in such accounts
and believes that it is not exposed to any significant risk of loss of cash.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
sells fuel-grade ethanol to gasoline refining and distribution companies. The Company had one customer representing 22% and 19%
of total net sales for the years ended December 31, 2011 and 2010, respectively. The Company did not have any other customers
with sales of 10% or more of total net sales.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
had accounts receivable due from this customer totaling $6,267,000 and $6,326,000, representing 22% and 24% of total accounts
receivable as of December 31, 2011 and 2010, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
purchases fuel-grade ethanol and corn, its largest cost component in producing ethanol, from its suppliers. The Company had purchases
from ethanol and corn suppliers representing 10% or more of total purchases by the Company in the purchase and production of ethanol
as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="8" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Years
    Ended December 31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 58%"><font style="font-size: 8pt">Supplier A</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 10%; text-align: right"><font style="font-size: 8pt">39</font></td>
    <td nowrap="nowrap" style="width: 8%"><font style="font-size: 8pt">%</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 10%; text-align: right"><font style="font-size: 8pt">31</font></td>
    <td nowrap="nowrap" style="width: 8%"><font style="font-size: 8pt">%</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Supplier B</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">13</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">16</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Supplier C</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">12</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">13</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Inventories</u>&#160;</i>&#150;
Inventories consisted primarily of bulk ethanol and unleaded fuel, and are valued at the lower-of-cost-or-market, with cost determined
on a first-in, first-out basis. Inventory balances consisted of the following (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December
    31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 58%"><font style="font-size: 8pt">Finished goods</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 18%; text-align: right"><font style="font-size: 8pt">9,429</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 18%; text-align: right"><font style="font-size: 8pt">11,105</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Work in progress</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4,284</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4,087</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Raw materials</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,334</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,308</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,084</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">806</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">16,131</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">17,306</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Property
and Equipment</u></i> &#150; Property and equipment are stated at cost. Depreciation is computed using the straight-line method
over the following estimated useful lives:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top; background-color: #EEEEEE">
    <td style="width: 63%"><font style="font-size: 8pt">Buildings</font></td>
    <td style="width: 37%; text-align: right"><font style="font-size: 8pt">&#160;40 years</font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td><font style="font-size: 8pt">Facilities and plant equipment</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;10 &#150; 25 years</font></td></tr>
<tr style="vertical-align: top; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Other equipment, vehicles and furniture</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;5 &#150; 10 years</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The cost
of normal maintenance and repairs is charged to operations as incurred. Significant capital expenditures that increase the life
of an asset are capitalized and depreciated over the estimated remaining useful life of the asset. The cost of fixed assets sold,
or otherwise disposed of, and the related accumulated depreciation or amortization are removed from the accounts, and any resulting
gains or losses are reflected in current operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Intangible
Assets</u></i> &#150; The Company amortizes intangible assets with definite lives using the straight-line method over their established
lives, generally 2-10 years. Additionally, the Company tests these assets with established lives for impairment if conditions
exist that indicate that carrying values may not be recoverable. Possible conditions leading to the unrecoverability of these
assets include changes in market conditions, changes in future economic conditions or changes in technological feasibility that
impact the Company&#146;s assessments of future operations. If the Company determines that an impairment charge is needed, the
charge will be recorded in selling, general and administrative expenses in the consolidated statements of operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Deferred
Financing Costs</u></i> &#150; Deferred financing costs, which are included in other assets, are costs incurred to obtain debt
financing, including all related fees, and are amortized as interest expense over the term of the related financing using the
straight-line method which approximates the interest rate method. Amortization of deferred financing costs was $651,000 and $1,001,000
for the years ended December 31, 2011 and 2010, respectively. Unamortized deferred financing costs were approximately $1,017,000
at December 31, 2011 and are recorded in other assets in the consolidated balance sheets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Derivative
Instruments and Hedging Activities</u></i> &#150; Derivative transactions, which can include forward contracts and futures positions
on the New York Mercantile Exchange and the Chicago Board of Trade and interest rate caps and swaps are recorded on the balance
sheet as assets and liabilities based on the derivative&#146;s fair value. Changes in the fair value of derivative contracts
are recognized currently in income unless specific hedge accounting criteria are met. If derivatives meet those criteria, effective
gains and losses are deferred in accumulated other comprehensive income (loss) and later recorded together with the hedged item
in consolidated income (loss). For derivatives designated as a cash flow hedge, the Company formally documents the hedge and assesses
the effectiveness with associated transactions. The Company has designated and documented contracts for the physical delivery
of commodity products to and from counterparties as normal purchases and normal sales.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Revenue
Recognition</u></i> &#150; The Company recognizes revenue when it is realized or realizable and earned. The Company considers
revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales
price is fixed or determinable, and collection is reasonably assured. The Company derives revenue primarily from sales of ethanol
and related co-products. The Company recognizes revenue when title transfers to its customers, which is generally upon the delivery
of these products to a customer&#146;s designated location. These deliveries are made in accordance with sales commitments and
related sales orders entered into with customers either verbally or in written form. The sales commitments and related sales orders
provide quantities, pricing and conditions of sales. In this regard, the Company engages in three basic types of revenue generating
transactions:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 60px"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 45px; font-family: Symbol"><font style="font-size: 8pt">&#183;</font></td>
    <td style="font-style: italic"><font style="font-size: 8pt">As a producer. Sales as a producer consist of sales of the Company&#146;s
    inventory produced at the Pacific Ethanol Plants.</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 60px"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 45px; font-family: Symbol"><font style="font-size: 8pt">&#183;</font></td>
    <td style="font-style: italic"><font style="font-size: 8pt">As a merchant. Sales as a merchant consist of sales to customers
    through purchases from third-party suppliers in which the Company may or may not obtain physical control of the ethanol or
    co-products, in which shipments are directed from the Company&#146;s suppliers to its terminals or direct to its customers
    but for which the Company accepts the risk of loss in the transactions.</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 60px"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 45px; font-family: Symbol"><font style="font-size: 8pt">&#183;</font></td>
    <td style="font-style: italic"><font style="font-size: 8pt">As an agent. Sales as an agent consist of sales to customers through
    purchases from third-party suppliers in which the risks and rewards of inventory ownership remain with third-party suppliers
    and the Company receives a predetermined service fee under these transactions.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Revenue from
sales of third-party ethanol and co-products is recorded net of costs when the Company is acting as an agent between a customer
and a supplier and gross when the Company is a principal to the transaction. The Company recorded $2,856,000 and $3,043,000 in
net sales when acting as an agent for the years ended December 31, 2011 and 2010, respectively. Several factors are considered
to determine whether the Company is acting as an agent or principal, most notably whether the Company is the primary obligor to
the customer and whether the Company has inventory risk and related risk of loss or whether the Company adds meaningful value
to the supplier&#146;s product or service. Consideration is also given to whether the Company has latitude in establishing the
sales price or has credit risk, or both. When the Company acts as an agent, it recognizes revenue on a net basis or recognizes
its predetermined fees and any associated freight, based upon the amount of net revenues retained in excess of amounts paid to
suppliers.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
records revenues based upon the gross amounts billed to its customers in transactions where the Company acts as a producer or
a merchant and obtains title to ethanol and its co-products and therefore owns the product and any related, unmitigated inventory
risk for the ethanol, regardless of whether the Company actually obtains physical control of the product.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Shipping
and Handling Costs</u></i> &#150; Shipping and handling costs are classified as a component of cost of goods sold in the accompanying
consolidated statements of operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>California
Ethanol Producer Incentive Program</u></i> &#150; The Company is eligible to participate in the California Ethanol Producer Incentive
Program (&#147;CEPIP&#148;) through the Pacific Ethanol Plants located in California. The CEPIP is a program that may provide
funds to an eligible California facility&#151;up to $0.25 per gallon of production&#151;when current production corn crush spreads,
measured as the difference between specified ethanol and corn index prices, drop below $0.55 per gallon. The program may provide
up to $3,000,000 per plant per year of operation through 2014. For any month in which a payment is made by the CEPIP, the Company
may be required to reimburse the funds within the subsequent five years from each payment date, if the corn crush spreads exceed
$1.00 per gallon. Since these funds are provided to subsidize current production costs and encourage eligible facilities to either
continue production or start up production in low margin environments, the Company records the proceeds, if any, as a credit to
cost of goods sold. The Company will assess the likelihood of reimbursement in future periods as corn crush spreads approach $1.00
per gallon. If it becomes likely that amounts may be reimbursable by the Company, the Company will accrue a liability for such
payment and recognize the costs as an increase in cost of goods sold. The Company recorded $1,481,000 and $519,000 as a reduction
to cost of goods sold for the years ended December 31, 2011 and 2010, respectively, in respect of CEPIP payments received. To
date, the Company has not been required to reimburse any amounts, and based on historical corn crush spreads, the Company does
not believe it will be required to make any reimbursements in the foreseeable future.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Stock-Based
Compensation</u></i> &#150; The Company accounts for the cost of employee services received in exchange for the award of equity
instruments based on the fair value of the award, determined on the date of grant. The expense is to be recognized over the period
during which an employee is required to provide services in exchange for the award. The Company estimates forfeitures at the time
of grant and makes revisions, if necessary, in the second quarter of each year if actual forfeitures differ from those estimates.
Based on historical experience, the Company estimated future unvested forfeitures at 5% for the years ended December 31, 2011
and 2010. The Company recognizes stock-based compensation expense as a component of selling, general and administrative expenses
in the consolidated statements of operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Impairment
of Long-Lived Assets</u></i> &#150; The Company assesses the impairment of long-lived assets, including property and equipment
and purchased intangibles subject to amortization, when events or changes in circumstances indicate that the fair value of assets
could be less than their net book value. In such event, the Company assesses long-lived assets for impairment by first determining
the forecasted, undiscounted cash flows the asset is expected to generate plus the net proceeds expected from the sale of the
asset. If this amount is less than the carrying value of the asset, the Company will then determine the fair value of the asset.
An impairment loss would be recognized when the fair value is less than the related asset&#146;s net book value, and an impairment
expense would be recorded in the amount of the difference. Forecasts of future cash flows are judgments based on the Company&#146;s
experience and knowledge of its operations and the industries in which it operates. These forecasts could be significantly affected
by future changes in market conditions, the economic environment, including inflation, and purchasing decisions of the Company&#146;s
customers.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Income
Taxes</u></i> &#150; Income taxes are accounted for under the asset and liability approach, where deferred tax assets and liabilities
are determined based on differences between financial reporting and tax basis of assets and liabilities, and are measured using
enacted tax rates and laws that are expected to be in effect when the differences reverse. Valuation allowances are established
when necessary to reduce deferred tax assets to the amounts expected to be realized.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first
step is to evaluate the tax position for recognition by determining whether it is more likely than not that the position will
be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure
the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. An uncertain tax
position is considered effectively settled on completion of an examination by a taxing authority if certain other conditions are
satisfied. Should the Company incur interest and penalties relating to tax uncertainties, such amounts would be classified as
a component of interest expense, net and other income (expense), net, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Income
Per Share</u></i> &#150; Basic income per share is computed on the basis of the weighted-average number of shares of common stock
outstanding during the period. Preferred dividends are deducted from net income attributed to Pacific Ethanol, Inc. and are considered
in the calculation of income available to common stockholders in computing basic income per share.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The following
tables compute basic and diluted earnings per share (in thousands, except per share data):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Year
    Ended December 31, 2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Income
        </b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Numerator</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Shares
        </b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Denominator</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Per-Share
        </b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Amount</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">Net income attributed to Pacific Ethanol, Inc.</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,074</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Preferred stock dividends</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,265</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="font-weight: bold"><font style="font-size: 8pt">Basic income per share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 58%; padding-bottom: 3pt"><font style="font-size: 8pt">Income available to common stockholders</font></td>
    <td style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; padding-bottom: 3pt; text-align: right"><font style="font-size: 8pt">1,809</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; padding-bottom: 3pt; text-align: right"><font style="font-size: 8pt">33,733</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">0.05</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Warrants</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">194</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Options</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">57</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="font-weight: bold"><font style="font-size: 8pt">Diluted income per share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Income available to common stockholders</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,809</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">33,984</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">0.05</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Year
    Ended December 31, 2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 3pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Income
        </b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Numerator</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 2.25pt double"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Shares
        </b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Denominator</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 2.25pt double"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Per-Share
        </b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Amount</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Net income attributed to Pacific Ethanol, Inc.</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">73,892</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Preferred stock dividends</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(2,847</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="font-weight: bold"><font style="font-size: 8pt">Basic income per share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 58%; padding-bottom: 3pt"><font style="font-size: 8pt">Income available to common stockholders</font></td>
    <td style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; padding-bottom: 3pt; text-align: right"><font style="font-size: 8pt">71,045</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; padding-bottom: 3pt; text-align: right"><font style="font-size: 8pt">10,514</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">6.76</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Convertible notes</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">657</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,524</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Preferred stock dividends</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">2,847</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,198</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Warrants</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">141</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="font-weight: bold"><font style="font-size: 8pt">Diluted income per share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Income available to common stockholders</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">74,549</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">13,377</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">5.57</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
has accrued and unpaid dividends of $7,315,000, or $0.08 per share of common stock outstanding as of December 31, 2011, in respect
of its Series B Cumulative Convertible Preferred Stock (&#147;Series B Preferred Stock&#148;).</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">There were
an aggregate of 815,000 and 1,666,000 potentially dilutive shares from convertible securities outstanding as of December 31, 2011
and 2010, respectively. These convertible securities were not considered in calculating diluted income per common share for the
years ended December 31, 2011 and 2010, as their effect would be anti-dilutive.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Financial
Instruments</u></i> &#150; The carrying values of cash and cash equivalents, accounts receivable, accounts payable and accrued
liabilities are reasonable estimates of their fair values because of the short maturity of these items. The Company recorded at
fair value its convertible notes and warrants. The Company believes the carrying values of its other notes payable and long-term
debt approximate fair value because the interest rates on these instruments are variable.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Estimates
and Assumptions</u></i> &#150; The preparation of the consolidated financial statements in conformity with GAAP requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 are required as part of determining the consolidation of VIEs, fair value of convertible notes and
warrants, allowance for doubtful accounts, estimated lives of property and equipment and intangibles, long-lived asset impairments,
valuation allowances on deferred income taxes and the potential outcome of future tax consequences of events recognized in the
Company&#146;s financial statements or tax returns. Actual results and outcomes may materially differ from management&#146;s
estimates and assumptions.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Subsequent
Events</u></i> &#150; Management evaluates, as of each reporting period, events or transactions that occur after the balance
sheet date through the date that the financial statements are issued for either disclosure or adjustment to the consolidated financial
results. The Company has evaluated subsequent events up through the date of the filing of this report with the Securities and
Exchange Commission.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Reclassifications
</u></i>&#150; Certain prior year amounts have been reclassified to conform to the current presentation. Such reclassification
had no effect on the consolidated net income (loss) reported in the consolidated statements of operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Recent
Accounting Pronouncements</u></i> &#150; On May 12, 2011, the Financial Accounting Standards Board issued Accounting Standards
Update (&#147;ASU&#148;) No. 2011-04, <i>Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement
and Disclosure Requirements in U.S. GAAP and IFRS</i>. ASU No. 2011-04 was issued concurrently with International Financial Reporting
Standards (&#147;IFRS&#148;) 13 <i>Fair Value Measurements</i>, to provide largely identical guidance about fair value measurement
and disclosure requirements. The new standards do not extend the use of fair value but, rather, provide guidance about how fair
value should be applied where it already is required or permitted under IFRS or U.S. GAAP. This standard is effective prospectively
for interim and annual periods beginning after December 15, 2011. The Company does not expect the adoption of this standard to
have a material effect on the Company&#146;s consolidated financial position, results of operations or cash flows.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_OrganizationAndBasisOfPresentationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_OrganizationAndBasisOfPresentationAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the business description and basis of presentation concepts.  Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity.  Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EUDAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent', window );">Current portion of long term debt to related party</a></td>
        <td class="nump">$ 750<span></span></td>
        <td class="nump">$ 750<span></span></td>
        <td class="nump">$ 0<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock par value (in Dollars per share)</a></td>
        <td class="nump">$ 0.001<span></span></td>
        <td class="nump">$ 0.001<span></span></td>
        <td class="nump">$ 0.001<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock shares authorized</a></td>
        <td class="nump">10,000,000<span></span></td>
        <td class="nump">10,000,000<span></span></td>
        <td class="nump">10,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
        <td class="nump">$ 0.001<span></span></td>
        <td class="nump">$ 0.001<span></span></td>
        <td class="nump">$ 0.001<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, authorized</a></td>
        <td class="nump">300,000,000<span></span></td>
        <td class="nump">300,000,000<span></span></td>
        <td class="nump">300,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, issued</a></td>
        <td class="nump">144,710,897<span></span></td>
        <td class="nump">86,631,664<span></span></td>
        <td class="nump">12,918,144<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, outstanding</a></td>
        <td class="nump">144,710,897<span></span></td>
        <td class="nump">86,631,664<span></span></td>
        <td class="nump">12,918,144<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">SeriesAPreferredStockMember</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock shares authorized</a></td>
        <td class="nump">1,684,375<span></span></td>
        <td class="nump">1,684,375<span></span></td>
        <td class="nump">1,684,375<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock shares issued</a></td>
        <td class="nump">0<span></span></td>
        <td class="nump">0<span></span></td>
        <td class="nump">0<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock Series outstanding</a></td>
        <td class="nump">0<span></span></td>
        <td class="nump">0<span></span></td>
        <td class="nump">0<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">SeriesBPreferredStockMember</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock shares authorized</a></td>
        <td class="nump">1,580,790<span></span></td>
        <td class="nump">1,580,790<span></span></td>
        <td class="nump">1,580,790<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock shares issued</a></td>
        <td class="nump">926,942<span></span></td>
        <td class="nump">926,942<span></span></td>
        <td class="nump">1,455,924<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock Series outstanding</a></td>
        <td class="nump">926,942<span></span></td>
        <td class="nump">926,942<span></span></td>
        <td class="nump">1,455,924<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockLiquidationPreferenceValue', window );">Preferred stock Series B liquidation preference (in Dollars)</a></td>
        <td class="nump">$ 24,659<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value of common stock per share; generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount for notes payable (written promise to pay), due to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a)(5))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 1<br><br> -Article 4<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 57<br><br> -Paragraph 2<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NotesPayableRelatedPartiesClassifiedCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockLiquidationPreferenceValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of the difference between preference in liquidation and the par or stated values of the preferred shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockLiquidationPreferenceValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
<FILENAME>R17.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>11. SUBSEQUENT EVENT<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_SubsequentEventAbstract', window );"><strong>Subsequent Event</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Note 11.SUBSEQUENT EVENT</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Repayment
of Senior Unsecured Notes</u></i> &#150; On October 1, 2012, the Company fully repaid in cash its $10,000,000 in senior unsecured
notes from proceeds of its public offering, which closed on September 26, 2012.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Second
Amended and Restated Credit Agreement</u></i> &#150; On October 29, 2012, the Plant Owners entered into a Second Amended and
Restated Credit Agreement (&#147;Restated Credit Agreement&#148;) with the lenders party to the agreement. The Restated Credit
Agreement provides for a revolving credit facility of up to $40,000,000, a term loan of $25,000,000 (&#147;Tranche A-1 Loan&#148;)
and a term loan of $26,300,000 (&#147;Tranche A-2 Loan&#148;). Under the terms of the Restated Credit Agreement, $39,500,000
of the combined revolving loans and term loans has a maturity date of June 25, 2013 and $51,800,000 of the combined revolving
loans and term loans has a maturity date of June 30, 2016.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Plant
Owners may elect to receive Eurodollar loans and/or base rate loans. The per annum interest rate on Eurodollar loans is equal
to (a) the rate obtained by dividing (i) the one-month LIBOR for the relevant interest period (but in no event less than 4%) by
(ii) a percentage equal to (1) 100% minus (2) the Eurodollar Reserve Percentage (as determined by the Board of Governors of the
Federal Reserve System) for the relevant period, plus (b) the applicable margin of 10%. The per annum interest rate on base rate
loans is equal to (A) the higher of (x) the Federal Funds Effective Rate (equal to the weighted average of the rates on overnight
federal funds transactions with members of the Federal Reserve System) plus 0.50%, (y) the rate of interest as publicly announced
by Wells Fargo Bank as its &#147;prime rate&#148; or (z) the one-month LIBOR plus 1.0%, plus the applicable margin of 10%.&#160;</font></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Interest
under the loans is payable monthly in cash, but as long as no default or event of default has occurred or is continuing, interest
payments due to certain lenders for any period prior to June 25, 2013, may, at the option of the Plant Owners, be deferred and
added to the principal balance of the Tranche A-1 Loan due June 30, 2016. The Plant Owners are also required to pay an unused
line fee of 2.0% per annum and other customary fees and expenses associated with the credit facility.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">The
Plant Owners&#146; obligations are secured by a security interest in their assets and equity interests in favor of the lenders.
The Restated Credit Agreement contains numerous customary representations, warranties, affirmative and negative covenants and
other customary terms and conditions, including events of default (including upon the occurrence of an event of default with respect
to any indebtedness owed by the Company) and remedies in favor of the lenders. The Restated Credit Agreement also contains restrictions
on the creation or incurrence of additional indebtedness (other than pursuant to the Credit Agreement described below) and on
distributions of funds from the Plant Owners to any affiliates of the Plant Owners, including the Company.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt; font-weight: normal">The
Restated Credit Agreement also contains financial covenants concerning certain of the Plant Owners&#146; budgeted expenses. Specifically,
the Plant Owners shall not permit amounts disbursed pursuant to the categories in the budget related to the asset management agreement
among the Plant Owners and the Company and operating disbursements to exceed their respective budgeted amounts by more than 10%.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt; font-weight: normal">The
Plant Owners have the right at any time, and from time to time, but subject to limitations imposed by an intercreditor agreement
(described below), to prepay in whole or in part the revolving loans and Tranche A-1 Loans (and the Tranche A-2 Loans following
the payment in full of the revolving loans and Tranche A-1 Loans). However, in the event of any prepayment of the Tranche A-1
Loans that have a maturity date of June 30, 2016, the Plant Owners must pay a premium equal to the present value of all interest
payments which would have accrued from the date of such payment through June 30, 2016, calculated using a discount rate, applied
quarterly, equal to the Treasury Rate as of such prepayment date plus 50 basis points. The Restated Credit Agreement also provides
for mandatory prepayments in connection with certain customary events, including any sale of material assets; however, certain
mandatory prepayments are not subject to the prepayment premium.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt"><i><u>Credit
Agreement</u></i> &#150; On October 29, 2012, the Plant Owners entered into a Credit Agreement (&#147;Credit Agreement&#148;)
with lenders party to the agreement. The Credit Agreement provides for a revolving credit facility of up to $10,000,000. The Plant
owners may request (with a maximum of 5 requests) increases in the amount of the facility in increments of not less than $1,000,000,
up to a maximum credit limit of $5,000,000. The lenders have no obligation to agree to such a request.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">Effective
as of January 11, 2013, the maturity date applicable to Loans made under the Credit Agreement was extended from June 25, 2013
to June 25, 2015. The maturity date applicable to the Loans made under the Credit Agreement may be extended to June 25, 2016 upon
approval of lenders holding in excess of 50% of the outstanding principal amount of the loans and the undisbursed amount of the
aggregate lending commitment.</font></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">The Plant
Owners may elect to receive Eurodollar loans and/or base rate loans. The per annum interest rate on Eurodollar loans is equal
to (a) the rate obtained by dividing (i) the one-month LIBOR for the relevant interest period (but in no event less than 4%) by
(ii) a percentage equal to (1) 100% minus (2) the Eurodollar Reserve Percentage (as determined by the Board of Governors of the
Federal Reserve System) for the relevant period, plus (b) the applicable margin. The per annum interest rate on base rate loans
is equal to (A) the higher of (x) the Federal Funds Effective Rate (equal to the weighted average of the rates on overnight federal
funds transactions with members of the Federal Reserve System), plus 0.50%, (y) the rate of interest as publicly announced by
Wells Fargo Bank as its &#147;prime rate&#148; or (z) the one-month LIBOR plus 1.0%, plus the applicable margin. With respect
to both the Eurodollar loans and base rate loans, the applicable margin is 5.5%; provided that for any loans for which interest
is paid as capitalized interest, the applicable margin is deemed to be 8.0% per annum for the period for which interest is so
paid.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">Interest
under the loans is payable monthly in cash, but as long as no default or event of default has occurred or is continuing, interest
payments due to the lenders may, at the option of the Plant Owners, be deferred and added as capitalized interest to the principal
balance of the loans.<b> </b>The Plant Owners are also required to pay an unused line fee of 2.0% per annum and other customary
fees and expenses associated with the credit facility.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">The Plant
Owners&#146; obligations are secured by a security interest in their assets and equity interests in favor of the lenders. The
Credit Agreement contains numerous customary representations, warranties, affirmative and negative covenants and other customary
terms and conditions, including events of default (including upon the occurrence of an event of default with respect to any indebtedness
owed by the Company) and remedies in favor of the lenders. The Credit Agreement also contains restrictions on the creation or
incurrence of additional indebtedness and on distributions of funds from the Plant Owners to any affiliates of the Plant Owners,
including the Company</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">The Credit
Agreement also contains financial covenants concerning certain of the Plant Owners&#146; budgeted expenses. Specifically, the
Plant Owners shall not permit amounts disbursed pursuant to the categories in the budget related to the asset management agreement
among the Plant Owners and the Company and operating disbursements to exceed their respective budgeted amounts by more than 10%.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">The Plant
Owners have the right at any time, and from time to time, but subject to limitations imposed by an intercreditor agreement, to
prepay the revolving loans under the Credit Agreement. The Credit Agreement also provides for mandatory prepayments in connection
with certain customary events, including any sale of material assets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt"><i><u>Intercreditor
Agreement</u></i> &#150; On October 29, 2012, the Plant Owners entered into an Intercreditor Agreement (&#147;Intercreditor
Agreement&#148;) with Wells Fargo Bank, National Association (&#147;Agent&#148;), as collateral agent. The Intercreditor Agreement
provides, among other things, that the amounts owed by the Plant Owners under the Credit Agreement shall be senior in right and
payment to the payment of amounts owed by the Plant Owners under the Restated Credit Agreement. In addition, pursuant to the terms
of the Intercreditor Agreement, the lenders under the Restated Credit Agreement have agreed to continue, and make certain additional
extensions of, credit to the Plant Owners pursuant to the terms of the Restated Credit Agreement, upon, among other terms and
conditions, the conditions that (i) obligations of Plant Owners under the Restated Credit Agreement shall be secured by a second
priority lien on, and security interests in, the collateral under the Restated Credit Agreement, and (ii) subject to the terms
and conditions contained in the Intercreditor Agreement, the payment of certain obligations under the Restated Credit Agreement
shall be subordinate and subject in right and time of payment to the prior discharge of amounts owed by the Plant Owners under
the Credit Agreement.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in; text-align: justify"><font style="font-size: 8pt"><i><u>Debt,
Warrant and PE Holdco Interest Acquisitions</u> &#150; </i>On December&#160;19, 2012, the Company entered into a Securities Purchase
Agreement (the &#147;Purchase Agreement&#148;) with 5 accredited investors (the &#147;Investors&#148;). Under the terms of
the Purchase Agreement, the Company agreed to sell $22,192,491 in aggregate principal amount of its senior unsecured notes (the
&#147;Notes&#148;) and 5-year warrants (the &#147;Warrants&#148;) to purchase an aggregate of 25,630,286 shares of the Company&#146;s
common stock at an exercise price of $0.52 per share, to the Investors in a private offering for aggregate gross proceeds of $22,192,491.
&#160; The sale of the Notes and the Warrants to the Investors closed on January 11, 2013 (the &#147;Closing&#148;).&#160;&#160;In
connection with the sale of the Notes and the Warrants, the Company entered into a registration rights agreement with the Investors
on January 11, 2013.</font></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">Of the
gross proceeds, $21,538,596 was used to purchase from certain of the Investors an aggregate principal amount of $21,538,596 of
Tranche A-2 Loans (the &#147;Acquired Plant Debt&#148;) issued under the Restated Credit Agreement. On January 11, 2013, the
maturity date applicable to the Acquired Plant Debt was extended from June 30, 2013 to June 30, 2016.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">Of the
remaining gross proceeds, $653,895 was used to purchase from certain of the Investors 130.779 membership interest units of New
PE Holdco LLC, increasing the Company&#146;s ownership interests in New PE Holdco to 80%.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0in; text-align: justify"><font style="font-size: 8pt">The
Notes were issued at the Closing and have an aggregate principal amount of $22,192,491. The Notes will mature on March 30, 2016
(the &#147;Maturity Date&#148;). The Notes bear interest at the rate of 5% per annum, subject to adjustment.&#160;&#160;If the
aggregate outstanding principal balance of the Notes is not less than $10,769,297 by January 15, 2014, the interest rate will
increase commencing on January 15, 2014 by 1% per annum on each calendar January 15, April 15, July 15 and October 15 until the
aggregate outstanding principal balance of the Notes is less than $10,769,297. The interest rate will also increase by an additional
2% per annum above the interest rate otherwise applicable upon the occurrence, and during the continuance, of an event of default
until such event of default has been cured. The Company is required to pay all outstanding principal and any accrued and unpaid
interest on the Notes on the Maturity Date. The Company may, at its option, prepay the Notes at any time without premium or penalty.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">If at
any time the Company receives net cash proceeds from an issuance of equity or equity linked securities of the Company, certain
sales of assets of the Company or any of its wholly or partially owned subsidiaries or as a result of the Company or any of its
wholly or partially owned subsidiaries incurring certain indebtedness, then the Company will be obligated to prepay the Notes
using 100% of all such net cash proceeds, provided that in connection with proceeds received in connection with an Equity Linked
Issuance (as defined in the Notes), the Company will be obligated to use all such net cash proceeds to either prepay the Notes
or purchase outstanding debt issued by its indirect partially owned subsidiaries under the Second Lien Credit Facility, in respective
proportions established by the terms of the Notes.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><font style="font-size: 8pt">Interest
on the Notes is payable in cash in arrears on the 15<sup>th</sup> calendar day of each month beginning on March 15, 2013 (each
an &#147;Interest Payment Date&#148;). Subject to the satisfaction of the Equity Conditions (as defined in the Notes), at the
option of the Company, the Company may elect to pay interest due and payable on any Interest Payment Date in shares of Common
Stock, provided that the interest rate applicable to any outstanding amounts that Company pays in Interest Shares shall increase
by 2% per annum from the then applicable interest rate for the period for which such interest is paid. The number of Interest
Shares to be issued, at the Company&#146;s election, on any particular Interest Payment Date shall equal to the quotient of (x)
the amount of interest payable (assuming payment in Interest Shares) on such Interest Payment Date divided by (y) the product
of (i) the weighted average price of the Common Stock for 30 trading days immediately preceding (but excluding) the Interest Payment
Date and (ii) 0.95. If the Company cannot make an interest payment in shares of Common Stock because one of the conditions described
above is not satisfied, the Company must make such payment in cash.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 11pt 0 0; text-align: justify"><font style="font-size: 8pt"><i><u>Preferred
Dividends</u> &#150;</i>On December 26, 2012, the Company entered into an agreement with the Series B Preferred Stock holders
under which the Company issued approximately 2,169,000 shares of its common stock in payment of $732,000 of the total $6,583,000
of accrued and unpaid dividends in respect of the Series B Preferred Stock. In addition, the holders of the Series B Preferred
Stock agreed to forebear from exercising any rights they may have with respect to accrued unpaid dividends until June 30, 2014.
The Company had accrued and unpaid dividends in respect of its Series B Preferred Stock of $5,851,000 as of December 31, 2012.</font></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><font style="font-size: 8pt"><i><u>Related Party Note &#150;
</u></i>On February 7, 2013, the Company entered into an amendment to the promissory note of $750,000, with the Company&#146;s
Chief Executive Officer, further extending its maturity date from March 31, 2013 to March 31, 2014.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><font style="font-size: 8pt"><i><u>Stock Incentive Plan
-</u></i> On December 13, 2012, upon approval by the Company&#146;s stockholders, the Company amended its 2006 Stock Incentive
Plan (the &#147;Plan&#148;) to increase the number of shares of common stock authorized for issuance under the 2006 Plan from
1,214,285 shares to 6,214,285. In January 2013, the Company granted an aggregate of 2,168,708 shares of common stock to its directors
and employees under the 2006 Plan.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><font style="font-size: 8pt"><i><u>Chief Operating Officer
</u></i>- On January 6, 2013, the Company entered into an executive employment agreement with Michael D. Kandris that appointed
Mr. Kandris as the Company&#146;s Chief Operating Officer.</font></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">&#160;</font></p><span></span></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Warrant
exercises</u></i> &#150; In February 2012, certain holders of the 2010 Warrants exercised their 2010 Warrants with respect to
252,101 shares of common stock on a cashless exercise basis, resulting in 172,269 net shares of common stock issued by the Company.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Note
payable extension</u></i> &#150; On March 7, 2012, the Company extended the maturity date of its outstanding note payable to
its Chief Executive Officer in the principal amount of $750,000 to March 31, 2013. No other terms were changed.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_SubsequentEventAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_SubsequentEventAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventsTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SubsequentEventsTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EOEAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Document and Entity Information<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1"></th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Nov. 13, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_DocumentAndEntityInformationAbstract', window );"><strong>Document And Entity Information</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
        <td class="text">Pacific Ethanol, Inc.<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
        <td class="text">0000778164<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
        <td class="text">S-1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
        <td class="text">Sep. 30,
         2012<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
        <td class="text">false<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
        <td class="text">--12-31<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Is Entity a Well-known Seasoned Issuer?</a></td>
        <td class="text">No<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Is Entity a Voluntary Filer?</a></td>
        <td class="text">No<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Is Entity's Reporting Status Current?</a></td>
        <td class="text">Yes<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
        <td class="text">Smaller Reporting Company<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">144,672,406<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
        <td class="text">2012<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_AmendmentFlag</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:booleanItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>End date of current fiscal year in the format --MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_CurrentFiscalYearEndDate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gMonthDayItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentFiscalYearFocus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gYearItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentPeriodEndDate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:dateItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentType</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:submissionTypeItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCentralIndexKey</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:centralIndexKeyItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCurrentReportingStatus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityFilerCategory</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:filerCategoryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityRegistrantName</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:normalizedStringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityVoluntaryFilers</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityWellKnownSeasonedIssuer</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_DocumentAndEntityInformationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_DocumentAndEntityInformationAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>3. PROPERTY AND EQUIPMENT (Dec 2011 only)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Property, Plant and Equipment [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">3. PROPERTY AND EQUIPMENT</a></td>
        <td class="text"><p style="margin: 0pt 0"><font style="font-size: 8pt">Property and equipment consisted of the following (in thousands):</font></p>

<p style="margin: 0pt 0"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December&#160;31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 72%"><font style="font-size: 8pt">Facilities and plant equipment</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">168,036</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">166,229</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Land</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">2,570</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">2,570</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Other equipment, vehicles and furniture</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4,918</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4,635</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Construction in progress</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">3,328</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">2,355</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">178,852</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">175,789</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Accumulated depreciation</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(19,235</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(6,813</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">159,617</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">168,976</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Depreciation
expense, including idled facilities, was $11,724,000 and $8,536,000 for the years ended December 31, 2011 and 2010, respectively.
One of the Pacific Ethanol Plants was idled at December 31, 2011 and 2010. The carrying values of this facility totaled $29,924,000
and $32,000,000 at December 31, 2011 and 2010, respectively. The Company continues to depreciate these assets, resulting in depreciation
expense in the aggregate of $2,155,000 and $1,559,000 for the years ended December 31, 2011 and 2010, respectively.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13-14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2921-110230<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EQXAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">9 Months Ended</th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementAbstract', window );"><strong>Income Statement [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Net sales</a></td>
        <td class="nump">$ 619,026<span></span></td>
        <td class="nump">$ 659,390<span></span></td>
        <td class="nump">$ 901,188<span></span></td>
        <td class="nump">$ 328,332<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfGoodsSold', window );">Cost of goods sold</a></td>
        <td class="nump">633,843<span></span></td>
        <td class="nump">647,355<span></span></td>
        <td class="nump">881,789<span></span></td>
        <td class="nump">329,143<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
        <td class="num">(14,817)<span></span></td>
        <td class="nump">12,035<span></span></td>
        <td class="nump">19,399<span></span></td>
        <td class="num">(811)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
        <td class="nump">9,400<span></span></td>
        <td class="nump">11,742<span></span></td>
        <td class="nump">15,427<span></span></td>
        <td class="nump">12,956<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income (loss) from operations</a></td>
        <td class="num">(24,217)<span></span></td>
        <td class="nump">293<span></span></td>
        <td class="nump">3,972<span></span></td>
        <td class="num">(13,767)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants', window );">Fair value adjustments on convertible debt and warrants</a></td>
        <td class="nump">352<span></span></td>
        <td class="nump">6,968<span></span></td>
        <td class="nump">7,559<span></span></td>
        <td class="num">(11,736)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInvestments', window );">Loss on investment in Front Range</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(12,146)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on extinguishment of debt</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,159)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense, net</a></td>
        <td class="num">(9,380)<span></span></td>
        <td class="num">(11,337)<span></span></td>
        <td class="num">(14,813)<span></span></td>
        <td class="num">(6,804)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherGeneralExpense', window );">Other income (expense), net</a></td>
        <td class="num">(499)<span></span></td>
        <td class="num">(709)<span></span></td>
        <td class="num">(741)<span></span></td>
        <td class="nump">840<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Loss before provision for income taxes</a></td>
        <td class="num">(33,744)<span></span></td>
        <td class="num">(4,785)<span></span></td>
        <td class="num">(4,023)<span></span></td>
        <td class="num">(45,772)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReorganizationItems', window );">Reorganization costs</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(4,153)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities', window );">Gain from bankruptcy exit</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">119,408<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Provision for income taxes</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Consolidated net income (loss)</a></td>
        <td class="num">(33,744)<span></span></td>
        <td class="num">(4,785)<span></span></td>
        <td class="num">(4,023)<span></span></td>
        <td class="nump">69,483<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity', window );">Net loss attributed to noncontrolling interest in variable interest entity</a></td>
        <td class="nump">20,191<span></span></td>
        <td class="nump">9,905<span></span></td>
        <td class="nump">7,097<span></span></td>
        <td class="nump">4,409<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss) attributed to Pacific Ethanol, Inc.</a></td>
        <td class="num">(13,553)<span></span></td>
        <td class="nump">5,120<span></span></td>
        <td class="nump">3,074<span></span></td>
        <td class="nump">73,892<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPreferredStock', window );">Preferred stock dividends</a></td>
        <td class="num">(949)<span></span></td>
        <td class="num">(946)<span></span></td>
        <td class="num">(1,265)<span></span></td>
        <td class="num">(2,847)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Income (loss) available to common stockholders</a></td>
        <td class="num">$ (14,502)<span></span></td>
        <td class="nump">$ 4,174<span></span></td>
        <td class="nump">$ 1,809<span></span></td>
        <td class="nump">$ 71,045<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Net income (loss) per share, basic and diluted</a></td>
        <td class="num">$ (0.15)<span></span></td>
        <td class="nump">$ 0.2<span></span></td>
        <td class="nump">$ 0.05<span></span></td>
        <td class="nump">$ 6.76<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted-average shares outstanding, basic</a></td>
        <td class="nump">96,203<span></span></td>
        <td class="nump">21,230<span></span></td>
        <td class="nump">33,733<span></span></td>
        <td class="nump">10,514<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted-average shares outstanding, diluted</a></td>
        <td class="nump">96,203<span></span></td>
        <td class="nump">21,328<span></span></td>
        <td class="nump">33,984<span></span></td>
        <td class="nump">13,377<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair Value Adjustments On Convertible Debt And Warrants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfGoodsSold">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total costs related to goods produced and sold during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 2<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostOfGoodsSold</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of reorganization items related to discharge of claims and liabilities upon emergence from bankruptcy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6585303&amp;loc=d3e56145-112766<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6916575&amp;loc=d3e55730-112764<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 90-7<br><br> -Paragraph 27<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPreferredStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for preferred shareholders during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 01-6<br><br> -Paragraph 14<br><br> -Subparagraph l<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 405<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DividendsPreferredStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7(c),9(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (c)-(e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6872113&amp;loc=d3e27357-111563<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6872113&amp;loc=d3e27405-111563<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 5<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 115<br><br> -Paragraph 13, 22<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainLossOnInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 26<br><br> -Paragraph 20, 21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 50<br><br> -Section 40<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12317-112629<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 50<br><br> -Section 40<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12355-112629<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainsLossesOnExtinguishmentOfDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1,2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GrossProfit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of income (loss) from continuing operations attributable to the noncontrolling interest. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 25<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 10<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeStatementAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 45<br><br> -Subparagraph a, b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Income Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxExpenseBenefit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cost of borrowed funds accounted for as interest that was charged against earnings during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 9<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher OTS<br><br> -Name Federal Regulation (FR)<br><br> -Number Title 12<br><br> -Section 563c.102<br><br> -Paragraph 9<br><br> -Chapter V<br><br> -Subsection II<br><br> -LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy.  It will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 34<br><br> -Paragraph 21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20435746&amp;loc=d3e565-108580<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 9<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherGeneralExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of general expenses not normally included in Other Operating Costs and Expenses.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.6)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 6<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherGeneralExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591552-111686<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReorganizationItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total amount of reorganization items.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6585303&amp;loc=d3e56145-112766<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6916575&amp;loc=d3e55730-112764<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 90-7<br><br> -Paragraph 27<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ReorganizationItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SalesRevenueNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Paragraph 5A<br><br> -Chapter 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 30<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386349&amp;loc=d3e3636-108311<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SellingGeneralAndAdministrativeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 171<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>54
<FILENAME>R12.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>6. COMMON STOCK AND WARRANTS<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_CommonStockAndWarrantsAbstract', window );"><strong>Common Stock And Warrants</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">6. COMMON STOCK AND WARRANTS</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">For
the nine months ended September 30, 2012, certain warrant holders exercised warrants in respect of 252,101 shares of common stock
on a cashless exercise basis, resulting in 172,269 net shares of common stock issued by the Company. For the nine months
ended September 30, 2012, certain warrant holders exercised warrants in respect of 50,000 shares of common stock for $26,500 in
cash.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><i><u>July Offering
</u></i>&#150; On July 3, 2012, the Company raised $10,903,000, net of $1,137,000 of underwriting and issuance costs, through
a public offering of units consisting of an aggregate of 28,000,000 shares of common stock, warrants to purchase 28,000,000 shares
of common stock at an exercise price of $0.63 per share with a term of five years and warrants to purchase 14,000,000 shares of
common stock at an exercise price of $0.53 per share with a term of eighteen months (&#147;July Offering&#148;), which warrant
exercise prices are subject to adjustment.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The warrants
issued in the July Offering are subject to a &#147;weighted-average&#148; anti-dilution adjustment if the Company issues or is
deemed to have issued securities at a price lower than the then applicable warrant exercise prices. In September 2012, as discussed
below, the Company issued additional common stock and warrants, resulting in adjustments to the exercise prices of warrants issued
in the July Offering. The adjusted exercise prices for the 5-year and 18-month warrants are $0.50 per share and $0.43 per share,
respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company accounted
for the net proceeds of the July Offering by first allocating the $3,380,000 fair value of the warrants to liabilities and then
allocating the remaining amount to equity.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><i><u>September
Offering</u> </i>&#150; On September 26, 2012, the Company raised $10,091,000, net of $909,000 of underwriting and issuance costs,
through a public offering of units consisting of an aggregate of 27,500,000 shares of common stock and warrants to purchase 27,500,000
shares of common stock at an exercise price of $0.59 per share with a term of three years (&#147;September Offering&#148;). The
Company accounted for the net proceeds of the September Offering by first allocating the $1,658,000 fair value of the warrants
to liabilities and then allocating the remaining amount to equity.</font></p>



<p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></p><span></span></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Private
Placement</u>&#160;</i>&#150; On December 13, 2011, the Company raised $7,364,000, net of $642,000 of issuance costs, through
the issuance of 7,625,000 shares of common stock and warrants to purchase an aggregate of 4,956,250 shares of common stock (&#147;2011
Warrants&#148;). The 2011 Warrants are immediately exercisable and entitle the holders of the 2011 Warrants to purchase up to
an aggregate of 4,956,250 shares of the Company&#146;s common stock until December 13, 2016 at an exercise price of $1.50 per
share (&#147;2011 Warrant Exercise Price&#148;), which price is subject to adjustment. The 2011 Warrants include both cash and
cashless exercise provisions.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The 2011
Warrant Exercise Price is subject to adjustment for stock splits, combinations or similar events, and, in such event, the number
of shares issuable upon the exercise of the 2011 Warrants will also be adjusted so that the aggregate 2011 Warrant Exercise Price
shall be the same immediately before and immediately after the adjustment. In addition, the 2011 Warrant Exercise Price is also
subject to a &#147;weighted-average&#148; anti-dilution adjustment if the Company issues or is deemed to have issued securities
at a price lower than the then applicable 2011 Warrant Exercise Price.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The 2011
Warrants require payments to be made by the Company for failure to deliver the shares of common stock issuable upon exercise.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The 2011
Warrants may not be converted if, after giving effect to the conversion, the investor together with its affiliates would beneficially
own in excess of 4.99% of the Company&#146;s outstanding shares of common stock. The blocker applicable to the exercise of the
2011 Warrants may be raised or lowered to any other percentage not in excess of 9.99%, except that any increase will only be effective
upon 61-days&#146; prior notice to the Company.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">If the Company
issues options, convertible securities, warrants, stock, or similar securities to holders of its common stock, each holder of
a 2011 Warrant has the right to acquire the same as if the holder had exercised its 2011 Warrant. The 2011 Warrants prohibit the
Company from entering into specified transactions involving a change of control, unless the successor entity assumes all of the
Company&#146;s obligations under the 2011 Warrants under a written agreement.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
accounted for the net proceeds of the private placement by first allocating the fair value of the 2011 warrants to a liability
and then recorded the remaining amount to equity.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Registration
Rights Agreement</u>&#160;</i>&#150; In connection with the sale of the shares of common stock and the 2011 Warrants, the Company
entered into a registration rights agreement with all of the investors to file a registration statement on Form S-1 with the Securities
and Exchange Commission by December 23, 2011 for the resale by the purchasers of the 7,625,000 shares of common stock and the
4,956,250 shares of common stock issuable upon exercise of the 2011 Warrants issued on December 13, 2011.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Subject to
grace periods, the Company is required to keep the registration statement (and the prospectus contained in that registration statement
available for use) for resale by the investors on a delayed or continuous basis at then-prevailing market prices at all times
until the earlier of (i) the date as of which all of the investors may sell all of the shares of common stock required to be covered
by the registration statement without restriction under Rule 144 under the Securities Act (including volume restrictions) and
without the need for current public information required by Rule 144(c)(1), if applicable) or (ii) the date on which the investors
shall have sold all of the shares of common stock covered by the registration statement.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
must pay registration delay payments of 2% of each investor&#146;s initial investment per month if the registration statement
ceases to be effective prior to the expiration of deadlines provided for in the registration rights agreement. The initial registration
statement became effective by the stated deadline and the Company did not record any liability associated with any registration
delay payments under the registration rights agreement.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Convertible
Note Warrants</u>&#160;</i>&#150; On October 6, 2010, as part of the Initial Notes issuance, the Company issued the Initial 2010
Warrants which were immediately exercisable and entitled the holders of the Initial 2010 Warrants to purchase up to an aggregate
of 2,941,178 shares of the Company&#146;s common stock until October 6, 2017 at an original exercise price of $5.95 per share,
which price was subject to adjustment. The Initial 2010 Warrants were subsequently exchanged for the 2010 Warrants having substantially
the same terms. The 2010 Warrants include both cash and cashless exercise provisions. Upon the Company&#146;s consummation of
the private placement on December 13, 2011, the original exercise price of the 2010 Warrants was reduced to $0.45 per share (&#147;2010
Warrant Exercise Price&#148;), which is also subject to adjustment.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The 2010
Warrant Exercise Price is subject to adjustment for stock splits, combinations or similar events, and, in such event, the number
of shares issuable upon the exercise of the 2010 Warrants will also be adjusted so that the aggregate 2010 Warrant Exercise Price
shall be the same immediately before and immediately after the adjustment. In addition, the 2010 Warrant Exercise Price is also
subject to a &#147;full ratchet&#148; anti-dilution adjustment where if the Company issues or is deemed to have issued securities
at a price lower than the then applicable 2010 Warrant Exercise Price, the 2010 Warrant Exercise Price will immediately decline
to equal the price at which the Company issues or is deemed to have issued its common stock.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">If the Company
sells or issues any securities with &#147;floating&#148; conversion prices based on the market price of its common stock, a
holder of a 2010 Warrant has the right to substitute the &#147;floating&#148; conversion price for the 2010 Warrant Exercise
Price upon exercise of all or part the 2010 Warrant.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The 2010
Warrants require payments to be made by the Company for failure to deliver the shares of common stock issuable upon exercise.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The 2010
Warrants may not be converted if, after giving effect to the conversion, the investor together with its affiliates would beneficially
own in excess of 4.99% or 9.99% (which percentage has been established at the election of each investor) of the Company&#146;s
outstanding shares of common stock. The blocker applicable to the exercise of the 2010 Warrants may be raised or lowered, subject
to an advance notice period, to any other percentage not in excess of 9.99%.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">If the Company
issues options, convertible securities, warrants, stock, or similar securities to holders of its common stock, each holder of
a 2010 Warrant has the right to acquire the same as if the holder had exercised its 2010 Warrant. The 2010 Warrants prohibit the
Company from entering into specified transactions involving a change of control, unless the successor entity is a publicly traded
corporation that assumes all of the Company&#146;s obligations under the 2010 Warrants under a written agreement approved by
all of the holders of the 2010 Warrants before the transaction is completed. When there is a transaction involving a permitted
change of control, a holder of a 2010 Warrant will have the right to force the Company to repurchase the holder&#146;s 2010 Warrants
for a purchase price in cash equal to the Black Scholes value of the then unexercised portion of the 2010 Warrants.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">If at any
time after the date the Company has initially satisfied certain specified conditions, and (i)&#160;its common stock trades at
a price equal to or greater than $14.84 per share for 20 trading days in any 30 consecutive trading day period (&#147;Mandatory
Exercise Measuring Period&#148;), (ii)&#160;the average daily dollar trading volume of the Company&#146;s common stock for each
trading day during the Mandatory Exercise Measuring Period<b>&#160;</b>exceeds $250,000 per day, and (iii)&#160;all such conditions
are then satisfied, the Company will have the right to require the holders of the 2010 Warrants to fully exercise all, but not
less than all, of the 2010 Warrants (subject to the blocker).</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In February
2012, certain holders of the 2010 Warrants exercised their 2010 Warrants with respect to 252,101 shares of common stock on a cashless
exercise basis, resulting in 172,269 net shares of common stock issued by the Company.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Accounting
for 2011 and 2010 Warrants</u>&#160;</i>&#150; The Company has determined that both the 2011 Warrants and the 2010 Warrants did
not meet the conditions for classification in stockholders&#146; equity and as such, the Company has recorded them as a liability
at fair value. The Company will revalue them at each reporting period. Accordingly, the Company recorded fair value adjustments
quarterly, with total fair value adjustments of $4,451,000 and $1,727,000 for the years ended December 31, 2011 and 2010, respectively,
which is largely attributed to warrant term shortening and reduction in the market value of the Company&#146;s common stock.
See Note 13 for the Company&#146;s fair value assumptions. As noted above, the exercise price of the 2010 Warrants declined to
$0.45 as a result of anti-dilution adjustments due to the Company&#146;s December 2011 equity financing. At that time, the Company
recorded an aggregate $1,100,000 expense to fair value adjustments on convertible debt and warrants in its consolidated statements
of operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Other
Warrant Issuances</u>&#160;</i>&#150; In March 2008, the Company issued warrants to purchase an aggregate of 439,561 shares of
common stock at an exercise price of $49.00 per share, which expire in 2018. In May 2008, the Company issued warrants to purchase
an aggregate of 63,189 shares of common stock at an exercise price of $49.00 per share, which expire in 2018.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In May 2008,
the Company issued warrants to purchase an aggregate of 428,573 shares of common stock at an exercise price of $49.70 per share,
which expire in 2013.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Warrant
Summary</u>&#160;</i>&#150; The following table summarizes warrant activity for the years ended December 31, 2011 and 2010 (number
of shares in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="text-align: center; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: Black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Number of <br />Shares</font></td><td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="margin-top: 0; text-align: center; margin-bottom: 0; border-bottom: Black 1.5pt solid"><font style="font-size: 8pt">Price
    per <br />Share</font></td><td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: Black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Weighted <br />Average
    <br />Exercise Price</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 49%; text-align: left; text-indent: 0pt"><font style="font-size: 8pt">Balance at December 31, 2009</font></td><td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="width: 13%; text-align: right"><font style="font-size: 8pt">931</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td><td style="width: 13%; text-align: center"><font style="font-size: 8pt">49.00
                                                  &#8211; 49.70</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td><td style="width: 13%; text-align: right"><font style="font-size: 8pt">49.32</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt"><font style="font-size: 8pt">Warrants issued</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">2,941</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">0.45</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">0.45</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; text-indent: 0pt"><font style="font-size: 8pt">Balance at December 31, 2010</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">3,872</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">$</font></td><td style="text-align: center"><font style="font-size: 8pt">0.45 &#8211; 49.70</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">$</font></td><td style="text-align: right"><font style="font-size: 8pt">12.20</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: 0pt"><font style="font-size: 8pt">Warrants issued</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">4,956</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">$</font></td><td style="text-align: center"><font style="font-size: 8pt">1.50</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">$</font></td><td style="text-align: right"><font style="font-size: 8pt">1.50</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt"><font style="font-size: 8pt">Warrants exercised</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(2,437</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">0.45</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">0.45</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 0pt"><font style="font-size: 8pt">Balance at December&#160;31,
    2011</font></td><td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">6,391</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: center"><font style="font-size: 8pt">0.45
                                                                          &#8211; 49.70</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">8.39</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>

<p style="margin: 0pt"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_CommonStockAndWarrantsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_CommonStockAndWarrantsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable).  Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Preferred Stock<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 4<br><br> -Subparagraph (SAB TOPIC 4.C)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187143-122770<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21484-112644<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Section B<br><br> -Paragraph 7, 11A<br><br> -Chapter 1<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section C<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph d<br><br> -Article 4<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 17: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br>Reference 18: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 19: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 20: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 21: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 22: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(d),(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 23: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityNoteDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>55
<FILENAME>R11.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>5. DEBT<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_DebtAbstract', window );"><strong>Debt</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">Note 5. DEBT</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Long-term
borrowings are summarized as follows (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</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">
    <td><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">September 30, <br />2012</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">December 31, <br />
    2011</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 46%; text-align: left"><font style="font-size: 8pt">Kinergy operating line of credit</font></td><td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td><td style="width: 13%; text-align: right"><font style="font-size: 8pt">17,158</font></td><td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="width: 2%; color: black"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; color: black; text-align: left"><font style="font-size: 8pt">$</font></td><td style="width: 13%; color: black; text-align: right"><font style="font-size: 8pt">20,432</font></td><td style="width: 1%; color: black; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Senior unsecured notes</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">10,000</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">&#150;</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left"><font style="font-size: 8pt">Note payable to related party</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">750</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">750</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Plant Owners&#146; term debt</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">52,687</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">51,279</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Plant Owners&#146; operating line of credit</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">38,500</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">21,978</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">119,095</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="text-align: right"><font style="font-size: 8pt">94,439</font></td><td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Less short-term portion</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(50,105</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td><td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(750</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">Long-term debt</font></td><td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">68,990</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td><td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">93,689</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i>&#160;</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Kinergy
Operating Line of Credit</u></i> &#150; In May 2012, the Company extended Kinergy&#146;s operating line of credit. The renewal
of Kinergy&#146;s credit facility is for an aggregate amount of up to $40,000,000, including an optional accordion feature for
up to an additional $10,000,000. The prior credit facility included an accordion feature of $5,000,000. The credit facility expires
on December 31, 2015. Interest accrues under the credit facility at a rate equal to (i)&#160;the three-month London Interbank
Offered Rate (&#147;LIBOR&#148;), plus (ii) a specified applicable margin ranging between 2.50% and 3.50%. The credit facility&#146;s
monthly unused line fee is 0.50% of the amount by which the maximum credit under the facility exceeds the average daily principal
balance. Kinergy is also required to pay customary fees and expenses associated with the credit facility and issuances of letters
of credit. In addition, Kinergy is responsible for a $3,000 monthly servicing fee. Payments that may be made by Kinergy to Pacific
Ethanol as reimbursement for management and other services provided by Pacific Ethanol to Kinergy are limited to $800,000 per
fiscal quarter in 2012, $900,000 per fiscal quarter in 2013, $1,000,000 per fiscal quarter in 2014 and $1,100,000 per fiscal quarter
in 2015. As of September 30, 2012, Kinergy had unused availability under the revolving credit facility of $4,200,000.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In addition,
the amended facility includes the accounts receivable of PAP as additional collateral. Payments that may be made by PAP to Pacific
Ethanol as reimbursement for management and other services provided by Pacific Ethanol to PAP are limited to the extent that quarterly
payments would result in PAP recording less than $100,000 of net income in the quarter.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">For the fiscal
quarter ending June 30, 2012 and each fiscal quarter thereafter, Kinergy and PAP are collectively required to generate aggregate
earnings before interest, taxes, depreciation and amortization, or EBITDA, of $450,000 for the quarter and aggregate EBITDA of
$1,100,000 for each two consecutive quarters. These amounts are required through December 31, 2013. In 2014, the required EBITDA
amounts increase to $500,000 per quarter and $1,300,000 for each two consecutive quarters. Further, for all monthly periods, Kinergy
and PAP must collectively maintain a fixed charge coverage ratio (calculated as a twelve-month rolling EBITDA divided by the sum
of interest expense, capital expenditures, principal payments of indebtedness, indebtedness from capital leases and taxes paid
during such twelve-month rolling period) of at least 2.0 and are prohibited from incurring any additional indebtedness (other
than specific intercompany indebtedness) or making any capital expenditures in excess of $100,000 absent the lender&#146;s prior
consent. Kinergy and PAP&#146;s obligations under the credit facility are secured by a first-priority security interest in all
of their assets in favor of the lender. The Company believes it is in compliance with these covenants.</font></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Senior
Unsecured Notes</u></i> &#150; In July 2012, as part of the Company&#146;s acquisition of an additional 33% ownership interest
in New PE Holdco, the Company issued senior unsecured promissory notes (the &#147;Notes&#148;) due April 13, 2013 in the aggregate
principal amount of $10.0 million. Interest on the unpaid principal amount accrued at a rate of 5.00% per annum. As discussed
in Note 11, the Company repaid the Notes in October 2012.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt"><i><u>Plant
Owners&#146; Term Debt and Operating Line of Credit</u></i> &#150; On July 13, 2012, the Plant Owners&#146; amended their existing
credit facilities. Prior to the amendment, the credit facilities consisted of a $35,000,000 revolving credit facility, a $25,000,000
tranche A-1 term loan and a $26,300,000 tranche A-2 term loan. Under the amendment, the Plant Owners&#146; credit facilities
were, among other things, amended to extend the maturity date in respect of $46,800,000 of the combined revolving credit facility
and term loans from June 25, 2013 to June 30, 2016. In addition, the aggregate commitment amount under the revolving credit facility
was increased by $5,000,000. Further, monthly interest payments due to certain lenders may, at the option of the Plant Owners,
be deferred and added to the loans maturing on the extended maturity date of June 30, 2016. As of September 30, 2012, $1,407,000
of accrued interest was deferred and added to the term loan. The amendment also provides the Plant Owners with the ability to
pay down and pay off the non-extending lenders and the outstanding tranche A-2 term loan at, or at any time prior to, the original
maturity date of June 25, 2013 without penalty while keeping the extended loans in place.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">For
the nine months ended September 30, 2012, the Plant Owners increased their borrowings under their operating line of credit by
$16,522,000.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">As of September
30, 2012, the Plant Owners had unused availability under the revolving credit facility of $700,000.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On October
29, 2012, the Plant Owners amended and restated their existing credit facilities and entered into a new revolving credit facility
for an aggregate amount of up to $10,000,000. See Note 11- Subsequent Events.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
has had and continues to have extensive communications with holders of the $39,500,000 in debt due June 25, 2013 to restructure
the existing loans and any additional loans under the new $10,000,000 credit facility. The Company also continues to explore its
capital raising alternatives. The Company believes that it will be able to successfully restructure the loans or raise additional
capital, or both, prior to the June 25, 2013 maturity date. However, the Company cannot provide any assurances that it will be
able to do so, or what the terms of any restructuring or capital raising transaction might be. If the Company is unable to timely
restructure the $39,500,000 in debt (together with any additional debt under the new credit facility) due June 25, 2013 or raise
sufficient capital to repay the debt, the Company will be in default on that debt and in cross-default on the $46,800,000 in debt
extended to June 30, 2016, all of which, totaling $91,300,000 plus any amounts borrowed under the new credit facility,
will be accelerated and immediately due and payable on June 25, 2013. As a result, the Company and its direct and indirect subsidiaries,
including Kinergy and the Plant Owners, will likely experience material adverse effects.</font></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Note
Payable to Related Party</u></i> &#150; On March 31, 2009, the Company&#146;s Chief Executive Officer provided funds in an aggregate
amount of $1,000,000 for general working capital purposes, in exchange for an unsecured promissory note issued by the Company.
Interest on the unpaid principal amount accrues at a rate of 8.00% per annum. The Company recorded interest under this note of
approximately $15,000 and $20,000 for the three months ended September 30, 2012 and 2011, respectively.  As of
December 31, 2011, the remaining amount of $750,000 was due and payable on the extended maturity date of March 31, 2012. On March
7, 2012, the maturity date was further extended to March 31, 2013.</font></p><span></span></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Long-term
debt is summarized in the following table (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December
    31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 72%"><font style="font-size: 8pt">Kinergy operating line of credit</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">20,432</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">13,474</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Notes payable to related parties</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">750</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,250</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">New PE Holdco term debt</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">51,279</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">51,279</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">New PE Holdco operating line of credit</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">21,978</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">18,978</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Convertible notes, at fair value</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">38,108</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">94,439</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">123,089</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Less current portion</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(750</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(38,108</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Long-term debt</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">93,689</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">84,981</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Kinergy
Line of Credit</u></i> &#150; Kinergy has a working capital line of credit in an aggregate amount of up to $30,000,000, with
an optional accordion feature of an additional $5,000,000. The credit facility is based on Kinergy&#146;s eligible accounts receivable
and inventory levels, subject to certain concentration reserves. The credit facility is subject to certain other sublimits, including
as to inventory loan limits. Interest accrues under the line of credit at a rate equal to (i)&#160;the three-month London Interbank
Offered Rate (&#147;LIBOR&#148;), plus (ii) a specified applicable margin ranging between 3.50% and 4.50%. The applicable margin
was 3.50% at December 31, 2011. The credit facility&#146;s monthly unused line fee is 0.50% of the amount by which the maximum
credit under the facility exceeds the average daily principal balance. Kinergy is also required to pay customary fees and expenses
associated with the credit facility and issuances of letters of credit. In addition, Kinergy is responsible for a $3,000 monthly
servicing fee. Payments that may be made by Kinergy to the Company as reimbursement for management and other services provided
by the Company to Kinergy are limited to $800,000 per fiscal quarter in 2012 and $850,000 per fiscal quarter in 2013. Kinergy
is required to meet specified EBITDA and fixed coverage ratio financial covenants under the credit facility, as amended, and is
prohibited from incurring any additional indebtedness (other than specific intercompany indebtedness) or making any capital expenditures
in excess of $100,000 absent the lender&#146;s prior consent. The Company believes it is in compliance with these covenants.
Kinergy&#146;s obligations under the credit facility are secured by a first-priority security interest in all of its assets in
favor of the lender. The line of credit matures on December 31, 2013. The Company has guaranteed all of Kinergy&#146;s obligations
under the line of credit. As of December 31, 2011, Kinergy had an available borrowing base under the credit facility of $26,564,000
and an outstanding balance of $20,432,000.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Notes
Payable to Related Parties</u></i> &#150; On March 31, 2009, the Company&#146;s Chairman of the Board and its Chief Executive
Officer provided funds in an aggregate amount of $2,000,000 for general working capital purposes, in exchange for two unsecured
promissory notes issued by the Company. Interest on the unpaid principal amounts accrues at a rate of 8.00% per annum. All principal
and accrued and unpaid interest on the promissory notes was initially due and payable in March 2010. On October 29, 2010, the
Company paid all accrued interest and $750,000 in principal under these notes. On November 30, 2011, the Company paid $500,000
in principal under these notes. The Company recorded interest under these notes of approximately $97,000 and $149,000 for the
years ended December 31, 2011 and 2010, respectively. As of December 31, 2011, the remaining amount of $750,000 was due and payable
on the extended maturity date of March 31, 2012. On March 7, 2012, the maturity date was further extended to March 31, 2013.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>New
PE Holdco Term Debt and Operating Line of Credit</u></i> &#150; On the Effective Date, approximately<i><u>&#160;</u></i>$294,478,000
in prepetition and post petition secured indebtedness of the Plant Owners was restructured under a Credit Agreement entered into
on June&#160;25, 2010 among the Plant Owners, as borrowers, and various lenders. Under the Plan, the Plant Owners&#146; existing
prepetition and post petition secured indebtedness of approximately $294,478,000 was restructured to consist of approximately
$50,000,000, plus accrued interest of $1,279,000, in three-year term loans and a new three-year revolving credit facility of up
to $35,000,000 to fund working capital requirements of New PE Holdco. The term loan and revolving credit facility require monthly
interest payments at a floating rate equal to the three-month LIBOR or the Prime Rate of interest, as elected by the borrower,
plus 10.0%. At December 31, 2011, the rate was approximately 13.25%. Repayments of principal are based on available free cash
flow of the borrower, until maturity, when all principal amounts are due. The term loan and revolving credit facility represent
permanent financing and are collateralized by a perfected, first-priority security interest in all of the assets, including inventories
and all rights, title and interest in all tangible and intangible assets, of New PE Holdco. The creditors of New PE Holdco do
not have recourse to the Company. As of December 31, 2011, New PE Holdco had an outstanding letter of credit of approximately
$844,000, unused availability under the credit facility of $12,178,000 and an outstanding balance of $21,978,000.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Convertible
Notes</u></i> &#150; On October 6, 2010, the Company raised $35,000,000 through the issuance and sale of $35,000,000 in principal
amount of secured convertible notes (&#147;Initial Notes&#148;) and warrants (&#147;Initial 2010 Warrants&#148;) to purchase
an aggregate of 2,941,178 shares of the Company&#146;s common stock. On January 7, 2011, the Company issued $35,000,000 in principal
amount of secured convertible notes (&#147;January Convertible Notes&#148;) in exchange for the Initial Notes and warrants (&#147;2010
Warrants&#148;) to purchase an aggregate of 2,941,178 shares of the Company&#146;s common stock in exchange for the Initial
2010 Warrants. The transactions contemplated by the exchange agreements were entered into to, among other things, clarify previously
ambiguous language in the Initial Notes and Initial 2010 Warrants, provide the Company with additional time to meet its registration
obligations and to add additional flexibility to the Company&#146;s ability to incur indebtedness subordinated to the January
Convertible Notes. As discussed below, the January Convertible Notes were valued at fair value, and as such, these modifications
were reflected in the fair value adjustments for the period.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On June 30,
2011, the Company issued $23,750,000 in principal amount of secured convertible notes, reflecting the amount then outstanding
under the January Convertible Notes (&#147;June Convertible Notes&#148;) in exchange for the January Convertible Notes. The
transactions contemplated by the exchange agreements were entered into to, among other things, defer an upcoming installment payment,
add one additional month to the maturity date and add a new additional conversion price option as described further below. As
discussed further below, the June Convertible Notes are valued at fair value, and as such, these modifications are reflected in
the fair value adjustments for the year ended December 31, 2011.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On August
3, 2011, under the terms of exchange agreements with the holders of the June Convertible Notes, the Company issued approximately
$17,170,000 in principal amount, reflecting the amount then outstanding under the June Convertible Notes, of secured convertible
notes (&#147;Convertible Notes&#148;) in exchange for the June Convertible Notes. The transactions contemplated by the exchange
agreements were entered into to, among other things, add three additional months to the maturity date, add a new additional conversion
price option as described further below and reduce the price failure threshold from $1.40 to $0.60. As discussed below, the Convertible
Notes are valued at fair value, and as such, these modifications are reflected in the fair value adjustments for the year ended
December 31, 2011.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
was obligated to make amortization payments with respect to the principal amount of each of the convertible notes, beginning on
March 7, 2011 and then on the first trading day of each calendar month thereafter, except for the month of August, through the
extended maturity date of May 2012 (collectively, the &#147;Installment Dates&#148;).</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On each Installment
Date, the Company was to pay an amount of principal, as then determined under the convertible notes and any accrued and unpaid
interest (the &#147;Installment Amount&#148;). The Company could elect to pay the Installment Amount in cash or shares of its
common stock, subject to the satisfaction of certain conditions.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">If the Company
elected to make all or part of an amortization payment in shares of its common stock, it was required to deliver to the holders
of the convertible notes the amount of shares of the Company&#146;s common stock equal to the portion of the amount being paid
in shares of the Company&#146;s common stock divided by the lesser of the then existing conversion price and 85% of the average
of the volume weighted average prices of the 5 lowest trading days during the 20 consecutive trading day period ending on the
trading day immediately prior to the applicable Installment Date.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">All amounts
due under the convertible notes were also convertible at any time, in whole or in part, at the option of the holders into shares
of the Company&#146;s common stock at a specified conversion price.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
elected to account for the convertible notes using the fair value alternative in order to simplify its accounting and reporting
of the convertible notes. Accordingly, the Company adjusted as of each quarter the carrying value of the convertible notes to
their fair value since their initial issuance in October 2010, with such adjustments reflected in fair value adjustments on convertible
debt and warrants in the statements of operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
recorded income of $7,559,000 and expense of $11,736,000 for fair value adjustments for the years ended December 31, 2011 and
2010, respectively, for changes in fair value, which adjustments are attributed to a reduction in the principal balances and fluctuations
in the market value of the Company&#146;s common stock during each quarterly period. There were no changes in fair value of the
convertible notes due to a change in the estimated credit risk of the instruments. See Note 13 for the Company&#146;s fair value
assumptions.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The following
table summarizes the Installment Amounts and additional conversions by the note holders through their retirement on November 14,
2011 (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Principal</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Interest</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Total</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Common
    Shares</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 44%"><font style="font-size: 8pt">Installment Amount &#150; Q1 2011</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">3,500</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">1,263</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">4,763</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">1,148</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Installment Amount &#150; 5/2/2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,500</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">383</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,883</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,396</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Installment Amount &#150; 6/1/2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,350</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">176</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,526</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,563</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Holder Conversions &#150; Q2 2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">900</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">49</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">949</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">428</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Installment Amount &#150; 7/1/2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,450</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">159</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,609</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,313</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Installment Amount &#150; 9/1/2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">283</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">144</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">427</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">*</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Holder Conversions &#150; Q3 2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">10,688</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">649</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">11,337</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">27,144</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Installment Amount &#150; 10/3/2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">929</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">64</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">993</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">*</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Installment Amount &#150; 11/1/2011</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">--</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">5</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">5</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">*</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Holder Conversions &#150; Q4 2011</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">8,400</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">397</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">8,797</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">28,867</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">35,000</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">3,289</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">38,289</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">63,859</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>


<hr size="1" noshade="noshade" align="left" style="width: 10%; color: black" />

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">* Cash payments</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">&#160;&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Registration
Rights Agreement</u>&#160;</i>&#150; In connection with the sale of the Initial Notes (and Convertible Notes) and the Initial
2010 Warrants, the Company entered into a registration rights agreement with all of the investors to file a registration statement
on Form S-1 with the Securities and Exchange Commission. In compliance with the Company's obligations under the registration rights
agreement, as amended by the aforementioned exchange agreements, the Company filed a registration statement on Form S-1 to register
for resale by the investors 3,968,423 shares of common stock underlying the Convertible Notes.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Interest
Expense on Borrowings</u></i> &#150; Interest expense on all borrowings discussed above was $14,813,000 and $6,261,000 for the
years ended December 31, 2011 and 2010, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Long-term
debt due in each of the next two years is as follows (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Years Ended December 31,</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Amount</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 67%; text-align: center"><font style="font-size: 8pt">2012</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 27%; text-align: right"><font style="font-size: 8pt">750</font></td>
    <td nowrap="nowrap" style="width: 2%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">2013</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">93,689</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 3pt; padding-left: 9pt; text-align: center"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">94,439</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_DebtAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_DebtAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20,22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
<FILENAME>R23.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>11. STOCK-BASED COMPENSATION (Dec 2011 only)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">11. STOCK-BASED COMPENSATION (Dec 2011 only)</a></td>
        <td class="text"><p style="margin: 0pt 0"><font style="font-size: 8pt">The Company has two equity incentive compensation plans: a 2004 Stock Option
Plan and a 2006 Stock Incentive Plan.</font></p>

<p style="margin: 0pt 0"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>2004
Stock Option Plan</u></i> &#150; The 2004 Stock Option Plan authorized the issuance of incentive stock options (&#147;ISOs&#148;)
and non-qualified stock options (&#147;NQOs&#148;) to the Company&#146;s officers, directors or key employees or to consultants
that do business with the Company for up to an aggregate of 357,143 shares of common stock. On September 7, 2006, the Company
terminated the 2004 Stock Option Plan, except to the extent of issued and outstanding options then existing under the plan. The
Company had 11,429 stock options outstanding under its 2004 Stock Option Plan at December&#160;31, 2011 and 2010.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>2006
Stock Incentive Plan</u></i> &#150; The 2006 Stock Incentive Plan authorizes the issuance of options, restricted stock, restricted
stock units, stock appreciation rights, direct stock issuances and other stock-based awards to the Company&#146;s officers, directors
or key employees or to consultants that do business with the Company for up to an aggregate of 1,214,285 shares of common stock.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Stock
Options</u></i> &#150; On August 1, 2011 and August 25, 2011, the Company granted options to purchase an aggregate of 193,000
and 16,000 shares of the Company&#146;s common stock at exercise prices of $0.86 and $0.35 per share, which were the respective
closing prices per share of the Company&#146;s common stock on the dates of grant, with estimated fair values of $0.44 and $0.18,
respectively. The options vest as to 33% on April 2, 2012 and 33% on each of April 1, 2013 and April 1, 2014. The options expire
in 10 years from the date of grant. Fair value was determined using the Black Scholes Option Pricing Model. For the August 1,
2011 grants, the inputs to estimating fair value were: exercise price of $0.86; estimated life of 5.0 years; expected volatility
of 56.7%; and risk free interest rate of 2.50%. For the August 25, 2011 grants, the inputs to estimating fair value were: exercise
price of $0.35; estimated life of 5.0 years; expected volatility of 56.7% and risk free interest rate of 2.50%. The Company estimates
expected volatility using peer companies within its industry.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Summaries
of the status of Company&#146;s stock option plans as of December 31, 2011 and 2010 and of changes in options outstanding under
the Company&#146;s plans during those years are as follows (in thousands, except exercise prices):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="14" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Years
    Ended December 31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Number</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>of
        Shares</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Weighted
    Average Exercise Price</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Number</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>of
        Shares</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Weighted
        Average</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Exercise
        Price</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 44%"><font style="font-size: 8pt">Outstanding at beginning of year</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">11</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">57.82</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">11</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">57.82</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt; padding-left: 9pt; text-indent: -9pt"><font style="font-size: 8pt">Issued</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">209</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">0.82</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Outstanding at end of year</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">220</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">3.78</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">11</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">57.82</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Options exercisable at end of year</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">11</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">57.82</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">11</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">57.82</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Stock options
outstanding as of December&#160;31, 2011, were as follows (number of shares in thousands):&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td colspan="2" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Options
    Outstanding</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Options
    Exercisable</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Range
        of</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Exercise
        Prices</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Number</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Outstanding</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Weighted
        Average </b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Remaining
        </b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Contractual
        Life (yrs)</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Weighted
        Average</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Exercise
        Price</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Number
    Exercisable</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Weighted
        Average</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Exercise
        Price</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">$</font></td>
    <td style="width: 18%; padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">0.35-0.86</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 13%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">209</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 13%; padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">9.59</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">$</font></td>
    <td style="width: 13%; padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">0.82</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 13%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 13%; padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">$</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">57.75-58.10</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">11</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">3.57</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">$</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">57.82</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">11</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">$</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">57.82</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The options
outstanding at December 31, 2011 and 2010 had intrinsic values of $50,000 and $0, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Restricted
Stock</u></i> &#150; The Company grants to certain employees and directors shares of restricted stock under its 2006 Stock Incentive
Plan pursuant to restricted stock agreements. A summary of unvested restricted stock activity is as follows (shares in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Number
        of</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Shares</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Weighted
        Average</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Grant
        Date</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Fair
        Value</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 72%"><font style="font-size: 8pt">Unvested at December 31, 2009</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">40</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">56.63</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Issued</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">585</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">8.40</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Vested</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(145</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">14.91</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Canceled</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(11</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">45.64</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Unvested at December 31, 2010</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">469</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">9.66</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Issued</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">264</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.86</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Vested</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(251</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">10.56</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Canceled</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(9</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">9.70</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Unvested at December&#160;31, 2011</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">473</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">4.27</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Stock-based
compensation expense related to employee and non-employee stock grants and options recognized in income were as follows (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Years Ended December
    31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 72%"><font style="font-size: 8pt">Employees</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">1,522</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">1,895</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Non-employees</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">756</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">576</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Total stock-based compensation expense</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,278</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,471</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">At December
31, 2011, the total compensation cost related to unvested awards which had not been recognized was $2,111,000 and the associated
weighted-average period over which the compensation cost attributable to those unvested awards would be recognized was 3.54 years.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 50<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6406099&amp;loc=d3e25284-112666<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 93-6<br><br> -Paragraph 53<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 40<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 64, 65, A240<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R19.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>4. INTANGIBLE ASSETS (Dec 2011 only)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract', window );"><strong>Goodwill and Intangible Assets Disclosure [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsDisclosureTextBlock', window );">4. INTANGIBLE ASSETS</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Intangible
assets consisted of the following (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">Useful</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December&#160;31,
    2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December&#160;31,
    2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><font style="font-size: 8pt">Life</font></td>
    <td nowrap="nowrap" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><font style="font-size: 8pt">Accumulated</font></td>
    <td nowrap="nowrap" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><font style="font-size: 8pt">Net Book</font></td>
    <td nowrap="nowrap" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><font style="font-size: 8pt">Accumulated</font></td>
    <td nowrap="nowrap" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center"><font style="font-size: 8pt">Net Book</font></td>
    <td nowrap="nowrap" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">(Years)</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Gross</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Amortization</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Value</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Amortization</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Value</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold"><font style="font-size: 8pt">Non-Amortizing:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Kinergy tradename</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">2,678</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">2,678</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">2,678</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">2,678</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="font-weight: bold"><font style="font-size: 8pt">Amortizing:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 18%"><font style="font-size: 8pt">Customer relationships</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 7%; text-align: center"><font style="font-size: 8pt">10</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">4,741</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(3,211</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">)</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,530</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">4,741</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(2,737</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">)</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">2,004</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Pacific Ethanol tradename</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">2</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">800</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(550</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">250</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">800</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(100</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">700</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt; text-indent: -0.25in"><font style="font-size: 8pt">Total intangible assets, net</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">8,219</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(3,761</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">4,458</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">8,219</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(2,837</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">5,382</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Kinergy
Tradename</u></i> &#150; The Company recorded a tradename valued at $2,678,000 in 2006 as part of its acquisition of Kinergy.
The Company determined that the Kinergy tradename has an indefinite life and therefore, rather than being amortized, will be tested
annually for impairment. The Company did not record any impairment on the Kinergy tradename for the years ended December 31, 2011
and 2010.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Customer
Relationships</u> &#150;</i> The Company recorded customer relationships valued at $4,741,000 as part of its acquisition of Kinergy.
The Company has established a useful life of ten years for these customer relationships.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Pacific
Ethanol Tradename</u> &#150;</i> The Company recorded a tradename valued at $800,000 as part of its acquisition of its ownership
interest in New PE Holdco, which relates to its marketing and management agreements with Pacific Ethanol, Inc. The Company has
established a useful life of two years for this intangible asset.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Amortization
expense associated with intangible assets totaled $924,000 and $574,000 for the years ended December&#160;31, 2011 and 2010, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The weighted-average
unamortized life of the intangible assets is 2.9 years.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The expected
amortization expense relating to amortizable intangible assets in each of the remaining four years after December 31, 2011 are
(in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt">Years
        Ended</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt">December
        31,</font></p></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Amount</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 67%; text-align: center"><font style="font-size: 8pt">2012</font></td>
    <td style="width: 2%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 27%; text-align: right"><font style="font-size: 8pt">724</font></td>
    <td nowrap="nowrap" style="width: 2%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">2013</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">474</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">2014</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">474</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">2015</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">108</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 3pt; padding-left: 9pt; text-align: center"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,780</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for all or part of the information related to intangible assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 142<br><br> -Paragraph 44, 45, 46<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7658586&amp;loc=d3e16323-109275<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7658586&amp;loc=d3e16373-109275<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7658586&amp;loc=d3e16265-109275<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IntangibleAssetsDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R15.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>9. EARNINGS PER SHARE<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings Per Share [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareTextBlock', window );">Note 9 .EARNINGS PER SHARE</a></td>
        <td class="text"><p style="margin: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The following
tables compute basic and diluted earnings per share (in thousands, except per share data):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Nine Months Ended
    September 30, 2012</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Loss <br />Numerator</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Denominator</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Per-Share<br /> Amount</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 61%; text-align: justify"><font style="font-size: 8pt">Net loss attributed to Pacific Ethanol</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">(13,553</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">)</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1pt"><font style="font-size: 8pt">Less: Preferred stock dividends</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(949</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="font-weight: bold; text-align: left; text-indent: -8.05pt; padding-left: 8.05pt"><font style="font-size: 8pt">Basic
    and diluted loss per share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt"><font style="font-size: 8pt">Loss
    available to common stockholders</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">(14,502</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">96,203</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">(0.15</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Nine Months Ended
    September 30, 2011</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Income <br /> Numerator</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Shares Denominator</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">Per-Share <br /> Amount</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 61%; text-align: justify"><font style="font-size: 8pt">Net income attributed to Pacific Ethanol</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">5,120</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 9%; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: justify; padding-bottom: 1pt"><font style="font-size: 8pt">Less: Preferred stock dividends</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">(946</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt"><font style="font-size: 8pt">Basic income per share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: justify; padding-bottom: 2.5pt"><font style="font-size: 8pt">Income available to common stockholders</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">4,174</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">21,230</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">0.20</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: justify; padding-bottom: 1pt"><font style="font-size: 8pt">Add: Stock options</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">&#150;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">98</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-indent: -8.05pt; padding-left: 8.05pt"><font style="font-size: 8pt">Diluted income per
    share:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -7.75pt; padding-left: 7.75pt"><font style="font-size: 8pt">Income
    available to common stockholders</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">4,174</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">21,328</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">0.20</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">There were an
aggregate of 3,300,000 potentially dilutive weighted-average shares from convertible securities outstanding for
the nine months ended September 30, 2012. These convertible securities were not considered in calculating
diluted net loss per share for the three and nine months ended September 30, 2012, as their effect would have been anti-dilutive.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt; background-color: white">&#160;</font></p>



<p style="margin: 0pt"><font style="font-size: 8pt">&#160;</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for earnings per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 52<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16381557&amp;loc=d3e4984-109258<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1278-109256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>59
<FILENAME>R13.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>7. COMMITMENTS AND CONTINGENCIES<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_CommitmentsAndContingenciesAbstract', window );"><strong>Commitments And Contingencies</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">7. COMMITMENTS AND CONTINGENCIES</a></td>
        <td class="text"><p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p>

<table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif">
    <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&#160;</p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Purchase Commitments</u></i> &#150;
At September 30, 2012, the Company had fixed-price purchase contracts with its suppliers to purchase $14,153,000 of ethanol and
indexed-price contracts to purchase 112,000 gallons of ethanol. These contracts will be satisfied throughout the remainder of 2012.&#160;</p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="background-color: white">&#160;</font></p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Sales Commitments</u></i> &#150; At
September 30, 2012, the Company had entered into sales contracts with its major customers to sell certain quantities of ethanol
and WDG. The volumes indicated in the indexed-price contracts table will be sold at publicly-indexed sales prices determined by
market prices in effect on their respective transaction dates (in thousands):</p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="background-color: white">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif">
    <td style="text-align: center; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif">Fixed-Price Contracts</td>
    <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 8pt Times New Roman, Times, Serif">
    <td style="width: 80%; font: 8pt Times New Roman, Times, Serif">Ethanol</td>
    <td style="width: 3%; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif">$</td>
    <td style="width: 15%; text-align: right; font: 8pt Times New Roman, Times, Serif">70</td>
    <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif">WDG</td>
    <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right">521</td>
    <td style="padding-bottom: 1pt; text-align: left; font: 8pt Times New Roman, Times, Serif">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 8pt Times New Roman, Times, Serif">
    <td style="padding-bottom: 2.5pt; text-indent: 13.7pt; font: 8pt Times New Roman, Times, Serif">Total</td>
    <td style="padding-bottom: 2.5pt; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; font: 8pt Times New Roman, Times, Serif; text-align: right">591</td>
    <td style="padding-bottom: 2.5pt; text-align: left; font: 8pt Times New Roman, Times, Serif">&#160;</td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>&#160;</i></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif">
    <td style="text-align: center; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif">Indexed-Price Contracts <br />(Volume)</td>
    <td style="padding-bottom: 1pt; font: 8pt Times New Roman, Times, Serif">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 8pt Times New Roman, Times, Serif">
    <td style="width: 80%; text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif">Ethanol (gallons)</td>
    <td style="width: 3%; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td style="width: 15%; text-align: right; font: 8pt Times New Roman, Times, Serif">97,708</td>
    <td style="width: 1%; text-align: left; font: 8pt Times New Roman, Times, Serif">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <td style="text-align: left; padding-left: 4.3pt; font: 8pt Times New Roman, Times, Serif">WDG (tons)</td>
    <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td style="text-align: left; font: 8pt Times New Roman, Times, Serif">&#160;</td>
    <td style="text-align: right; font: 8pt Times New Roman, Times, Serif">55</td>
    <td style="text-align: left; font: 8pt Times New Roman, Times, Serif">&#160;</td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Litigation &#150; General</u> &#150;</i>
The Company is subject to various claims and contingencies in the ordinary course of its business, including those related to litigation,
business transactions, employee-related matters, and others. When the Company is aware of a claim or potential claim, it assesses
the likelihood of any loss or exposure. If it is probable that a loss will result and the amount of the loss can be reasonably
estimated, the Company will record a liability for the loss. If the loss is not probable or the amount of the loss cannot be reasonably
estimated, the Company discloses the claim if the likelihood of a potential loss is reasonably possible and the amount involved
could be material. While there can be no assurances, the Company does not expect that any of its pending legal proceedings will
have a material financial impact on the Company&#146;s operating results.</p>

<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>



<p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif">&#160;</p><span></span></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Commitments
</u></i>&#150; The following is a description of significant commitments at December 31, 2011:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i>Operating
Leases &#150; </i>Future minimum lease payments required by non-cancelable operating leases in effect at December 31, 2011 are
as follows (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt">Years
        Ended</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt">December
        31,</font></p></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Amount</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 67%; text-align: center"><font style="font-size: 8pt">2012</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 27%; text-align: right"><font style="font-size: 8pt">1,474</font></td>
    <td nowrap="nowrap" style="width: 2%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="text-align: center"><font style="font-size: 8pt">2013</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,196</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="text-align: center"><font style="font-size: 8pt">2014</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">735</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="text-align: center"><font style="font-size: 8pt">2015</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">747</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="text-align: center"><font style="font-size: 8pt">2016</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">701</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">Thereafter</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">3,820</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">8,673</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Total rent
expense during the years ended December 31, 2011 and 2010 was $2,300,000 and $1,598,000, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i>Sales
Commitments</i> &#150; At December 31, 2011, the Company had entered into sales contracts with its major customers to sell certain
quantities of ethanol, WDG and syrup. These sales contracts will be completed throughout 2012. The volumes indicated in the indexed
price contracts table will be sold at publicly-indexed sales prices determined by market prices in effect on their respective
transaction dates (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Fixed-Price Contracts</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="width: 67%"><font style="font-size: 8pt">Ethanol</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 27%; text-align: right"><font style="font-size: 8pt">2,609</font></td>
    <td nowrap="nowrap" style="width: 2%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt; text-indent: -1in"><font style="font-size: 8pt">WDG and syrup</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,662</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 3pt; text-indent: 0.25in"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">4,271</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt">Indexed-Price
        Contracts</font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt">(Volume)</font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 67%"><font style="font-size: 8pt">Ethanol (gallons)</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 27%; text-align: right"><font style="font-size: 8pt">113,575</font></td>
    <td nowrap="nowrap" style="width: 2%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">WDG and syrup (tons)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">108</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i>Purchase
Commitments</i> &#150; At December 31, 2011, the Company had fixed-price purchase contracts with its suppliers to purchase $17,329,000
of ethanol and indexed-price purchase contracts with its suppliers to purchase 9,138,000 gallons of ethanol. These purchase commitments
will be satisfied throughout 2012.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Contingencies
</u></i>&#150; The following is a description of significant contingencies at December 31, 2011:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i>Litigation
&#150; General &#150;</i> The Company is subject to various claims and contingencies in the ordinary course of its business,
including those related to litigation, business transactions, employee-related matters, and others. When the Company is aware
of a claim or potential claim, it assesses the likelihood of any loss or exposure. If it is probable that a loss will result and
the amount of the loss can be reasonably estimated, the Company will record a liability for the loss. If the loss is not probable
or the amount of the loss cannot be reasonably estimated, the Company discloses the claim if the likelihood of a potential loss
is reasonably possible and the amount involved could be material. While there can be no assurances, the Company does not expect
that any of its pending legal proceedings will have a material financial impact on the Company&#146;s operating results.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i>Litigation
&#150; Barry Spiegel</i> &#150; In 2005, Barry J. Spiegel, a former shareholder and director of Accessity Corp., filed a complaint
in the Circuit Court of the 17th Judicial District in and for Broward County, Florida (Case No. 05018512, the &#147;State Court
Action&#148;), against Barry Siegel, Philip Kart, Kenneth Friedman and Bruce Udell. Messrs. Udell and Friedman are former directors
of Accessity and Pacific Ethanol. Mr. Kart is a former executive officer of Accessity and Pacific Ethanol. Mr. Siegel is a former
director and former executive officer of Accessity and Pacific Ethanol. Mr. Spiegel voluntarily dismissed his case in 2007 but
later renewed his case in 2009 and added as additional defendants PEI California, Pacific Ethanol, William L. Jones, Neil M. Koehler
and Ryan W. Turner. Messrs. Jones and Turner are directors of Pacific Ethanol. Mr. Turner is a former officer of Pacific Ethanol.
Mr. Koehler is a director and officer of Pacific Ethanol.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In 2006,
Mr. Spiegel filed a complaint in the United States District Court for the Southern District of Florida (Case No. 06-61848, the
&#147;Federal Court Action&#148;), against the foregoing individual defendants and Pacific Ethanol.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The State
and Federal Court Actions alleged numerous claims and related to a share exchange transaction completed in 2005 among Accessity
and the owners of each of Kinergy, ReEnergy, LLC and PEI California. The State Court Action sought approximately $22.0 million
in damages. The Federal Court Action sought approximately $15.0 million in damages.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">After discovery,
various motions and other pre-trial proceedings, on November 9, 2011, the Company and parties to the Spiegel cases entered into
a confidential settlement agreement to settle all matters relating to the State Court Action and the Federal Court Action. The
settlement agreement became effective on November 21, 2011, whereupon the State Court Action and the Federal Court Action were
dismissed with prejudice.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_CommitmentsAndContingenciesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_CommitmentsAndContingenciesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for commitments and contingencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 460<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6398077&amp;loc=d3e12565-110249<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 450<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6952336&amp;loc=d3e14435-108349<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 14<br><br> -Paragraph 3<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 440<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 9, 10, 11, 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommitmentsAndContingenciesDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R14.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>8. FAIR VALUE MEASUREMENTS<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueMeasurementsAbstract', window );"><strong>Fair Value Measurements</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">8. FAIR VALUE MEASUREMENTS.</a></td>
        <td class="text"><p style="margin: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0">The fair value hierarchy
prioritizes the inputs used in valuation techniques into three levels as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0.5in">&#160;</td>
    <td style="width: 0.25in; font-family: Symbol">&#183;</td>
    <td style="text-align: justify">Level 1 &#150; Observable inputs &#150; unadjusted quoted prices in active markets for identical assets and liabilities;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0.5in">&#160;</td>
    <td style="width: 0.25in; font-family: Symbol">&#183;</td>
    <td style="text-align: justify">Level 2 &#150; Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with market data; and</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0.5in">&#160;</td>
    <td style="width: 0.25in; font-family: Symbol">&#183;</td>
    <td style="text-align: justify">Level 3 &#150; Unobservable inputs &#150; includes amounts derived from valuation models where one or more significant inputs are unobservable. For fair value measurements using significant unobservable inputs, a description of the inputs and the information used to develop the inputs is required along with a reconciliation of Level 3 values from the prior reporting period.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company valued its warrants using a Monte
Carlo Binomial Lattice-Based valuation methodology, adjusted for marketability restrictions. Significant assumptions used in the
valuations for the dates noted are as follows (fair value in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>As of September 30, 2012:</u></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>&#160;</i></p>

<p style="color: Red; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Original Issue<br /> Date</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercise Price</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Volatility</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Risk<br /> Free Int<br /> Rate</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Term<br /> (yrs)</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Marketability<br /> Discount</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&#160; Fair Value</td>
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 34%; text-align: right">October 2010</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 7%; text-align: right">0.12</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 7%; text-align: right">75.6%</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 7%; text-align: right">0.62%</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 7%; text-align: right">5.10</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 7%; text-align: right">48.0%</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 7%; text-align: right">43</td>
    <td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: right">December 2011</td>
    <td>&#160;</td>
    <td style="text-align: left">$</td>
    <td style="text-align: right">0.84</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">77.7%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">0.47%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">4.21</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">55.9%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">585</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: right">July 2012</td>
    <td>&#160;</td>
    <td style="text-align: left">$</td>
    <td style="text-align: right">0.50</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">76.8%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">0.62%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">4.76</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">57.5%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">3,351</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: right">July 2012</td>
    <td>&#160;</td>
    <td style="text-align: left">$</td>
    <td style="text-align: right">0.43</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">73.9%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">0.17%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">1.26</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">57.5%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">858</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: right">September 2012</td>
    <td>&#160;</td>
    <td style="text-align: left">$</td>
    <td style="text-align: right">0.59</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">74.1%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">0.31%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">3.00</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">58.5%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left; border-bottom: Black 1pt solid">&#160;</td>
    <td style="text-align: right; border-bottom: Black 1pt solid">1,658</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left; border-bottom: Black 2.5pt double">$</td>
    <td style="text-align: right; border-bottom: Black 2.5pt double">6,495</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
</table>
<p style="color: Red; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>As of December 31, 2011:</u></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>&#160;</i></p>

<p style="color: Red; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Original Issue<br /> Date</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercise Price</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Volatility</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Risk<br /> Free Int<br /> Rate</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Term<br /> (yrs)</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Marketability<br /> Discount</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td style="font-weight: bold; text-align: center; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value</td>
    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 34%; text-align: right">October 2010</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 7%; text-align: right">0.45</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 7%; text-align: right">68.0%</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 7%; text-align: right">1.09%</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 7%; text-align: right">5.90</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 7%; text-align: right">47.4%</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 7%; text-align: right">226</td>
    <td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: right">December 2011</td>
    <td>&#160;</td>
    <td style="text-align: left">$</td>
    <td style="text-align: right">1.50</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">68.0%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">0.83%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">4.96</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">52.0%</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left; border-bottom: Black 1pt solid">&#160;</td>
    <td style="text-align: right; border-bottom: Black 1pt solid">1,695</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left; border-bottom: Black 2.5pt double">$</td>
    <td style="text-align: right; border-bottom: Black 2.5pt double">1,921</td>
    <td style="text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;The changes in the fair value of the
Company&#146;s Level 3 inputs were as follows (in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 85%">Balance, December 31, 2011</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 11%; text-align: right">1,921</td>
    <td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Warrant exercises</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">(112</td>
    <td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt">Adjustments to fair value for the period</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">33</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Balance, March 31, 2012</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">1,842</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt">Adjustments to fair value for the period</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">(1,285</td>
    <td style="padding-bottom: 1pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>Balance, June 30, 2012</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">557</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td>July Offering</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">3,380</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td>September Offering</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">1,658</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt">Adjustments to fair value for the period</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">900</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 2.5pt">Balance, September 30, 2012</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">6,495</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><u>Other Derivative Instruments</u></i>
&#150; The Company&#146;s other derivative instruments consist of commodity positions. The fair value of the commodity positions
are based on quoted prices on the commodity exchanges and are designated as Level 1.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The following table summarizes fair value measurements by level
at September 30, 2012 (in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in">Assets:</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in">Commodity contracts(1)</td>
    <td style="width: 2%; padding-bottom: 1pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right">514</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="width: 2%; padding-bottom: 1pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right">&#150;</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="width: 2%; padding-bottom: 1pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right">&#150;</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="width: 2%; padding-bottom: 1pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right">514</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in">Total Assets</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">514</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">&#150;</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">&#150;</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">514</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">__________</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">(1) Included in other current
assets in the consolidated balance sheets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in">Liabilities:</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 48%; text-align: left">Warrants</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 9%; text-align: right">&#150;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 9%; text-align: right">&#150;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 9%; text-align: right">6,495</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 9%; text-align: right">6,495</td>
    <td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in">Commodity contracts(1)</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">291</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#150;</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#150;</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">291</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in">Total Liabilities</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">291</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">&#150;</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">6,495</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">6,786</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">__________</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">(1) Included in accrued liabilities in the
consolidated balance sheets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The following tables summarize fair value measurements by level
at December 31, 2011 (in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in">Assets:</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 48%; padding-bottom: 1pt; text-indent: -1in; padding-left: 1in">Commodity contracts(1)</td>
    <td style="width: 2%; padding-bottom: 1pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right">244</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="width: 2%; padding-bottom: 1pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right">&#150;</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="width: 2%; padding-bottom: 1pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right">&#150;</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="width: 2%; padding-bottom: 1pt">&#160;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</td>
    <td style="width: 9%; border-bottom: Black 1pt solid; text-align: right">244</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in">Total Assets</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">244</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">&#150;</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">&#150;</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">244</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">__________</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">(1) Included in other current assets in the
consolidated balance sheets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45pt">&#160;&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td>
    <td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td>
    <td style="padding-bottom: 1pt; font-weight: bold">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="font-weight: bold; text-decoration: underline; text-indent: -1in; padding-left: 1in">Liabilities:</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td>
    <td style="text-align: right">&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 48%; text-align: left">Warrants(1)</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 9%; text-align: right">&#150;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 9%; text-align: right">&#150;</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 9%; text-align: right">1,921</td>
    <td style="width: 1%; text-align: left">&#160;</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td>
    <td style="width: 9%; text-align: right">1,921</td>
    <td style="width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="padding-bottom: 1pt; text-indent: -1in; padding-left: 1in">Commodity contracts(2)</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">500</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#150;</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#150;</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">500</td>
    <td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 8.6pt; padding-left: 0.5in">Total Liabilities</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">500</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">&#150;</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">1,921</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td>
    <td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td>
    <td style="border-bottom: Black 2.5pt double; text-align: right">2,421</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">__________</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">(1) Included in other liabilities
in the consolidated balance sheets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0; margin-bottom: 0">(2) Included in accrued
liabilities in the consolidated balance sheets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 9pt">&#160;</p>



<p style="margin: 0pt">&#160;</p><span></span></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The fair
value hierarchy prioritizes the inputs used in valuation techniques into three levels as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 60px; font-size: 10pt; text-align: justify"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 30px; font: 10pt Symbol; text-align: justify"><font style="font-size: 8pt">&#183;</font></td>
    <td style="font-size: 10pt; text-align: justify"><font style="font-size: 8pt">Level 1 &#150; Observable inputs &#150; unadjusted
    quoted prices in active markets for identical assets and liabilities;</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 60px; text-align: justify"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 30px; font-family: Symbol; text-align: justify"><font style="font-size: 8pt">&#183;</font></td>
    <td style="text-align: justify"><font style="font-size: 8pt">Level 2 &#150; Observable inputs other than quoted prices included
    in Level 1 that are observable for the asset or liability through corroboration with market data; and</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 60px; text-align: justify"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 30px; font-family: Symbol; text-align: justify"><font style="font-size: 8pt">&#183;</font></td>
    <td style="text-align: justify"><font style="font-size: 8pt">Level 3 &#150; Unobservable inputs &#150; includes amounts
    derived from valuation models where one or more significant inputs are unobservable. For fair value measurements using significant
    unobservable inputs, a description of the inputs and the information used to develop the inputs is required along with a reconciliation
    of Level 3 values from the prior reporting period.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Convertible
Notes and 2010 Warrants</u></i> &#150; As discussed in Notes 6 and 10, the Company recorded the convertible notes and related
warrants at fair value and designated them as Level 3 on their issuance date.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The convertible
notes were valued using a combination of a Monte Carlo Binomial Lattice-Based valuation methodology for the embedded conversion
feature, adjusted for marketability restrictions, combined with a discounted cash flow model for the payment stream of the debt
instrument. Significant assumptions used in the valuation at both the issuance date and December 31, 2010 are as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 2px solid; text-align: left; font-weight: bold; text-indent: 0pt"><font style="font-size: 8pt">Assumptions</font></td>
    <td style="border-bottom: black 2px solid; text-align: center; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt"><font style="font-size: 8pt">October
    6, 2010</font></td>
    <td style="border-bottom: black 2px solid; text-align: center; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 2px solid; text-align: center; font-weight: bold; text-indent: 0pt"><font style="font-size: 8pt">December
    31, 2010</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 55%; text-align: justify; text-indent: 0pt"><font style="font-size: 8pt">Conversion price</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">$ 5.95</font></td>
    <td nowrap="nowrap" style="width: 9%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">$ 5.95</font></td>
    <td nowrap="nowrap" style="width: 9%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="background-color: #eeeeee; vertical-align: bottom">
    <td style="text-align: justify; text-indent: 0pt"><font style="font-size: 8pt">Volatility</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">73.7</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">68.4</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">%</font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
    <td style="text-align: justify; text-indent: 0pt"><font style="font-size: 8pt">Risk free interest rate</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.24</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.29</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">%</font></td></tr>
<tr style="background-color: #eeeeee; vertical-align: bottom">
    <td style="text-align: justify; text-indent: 0pt"><font style="font-size: 8pt">Term (years)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1.27</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1.03</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="background-color: white; vertical-align: bottom">
    <td style="text-align: justify; text-indent: 0pt"><font style="font-size: 8pt">Marketability discount</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">32.0</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">27.0</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">%</font></td></tr>
<tr style="background-color: #eeeeee; vertical-align: bottom">
    <td style="text-align: justify; text-indent: 0pt"><font style="font-size: 8pt">Discount rate on plain debt</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">30.0</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">30.0</font></td>
    <td nowrap="nowrap" style="text-align: left"><font style="font-size: 8pt">%</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Based on
the above, the Company estimated the fair value of the convertible notes to be $37,474,000 at October 6, 2010 and $38,108,000
at December 31, 2010. The Company continued estimating the fair value of the convertible notes quarterly until their retirement
on November 14, 2011.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The warrants
were valued using a Monte Carlo Binomial Lattice-Based valuation methodology, adjusted for marketability restrictions. Significant
assumptions used in the valuations for the dates noted are as follows:</font>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">Assumptions</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">October
    6, 2010</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December
    31, 2010</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 56%"><font style="font-size: 8pt">Strike price</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">$5.95</font></td>
    <td nowrap="nowrap" style="width: 9%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">$5.95</font></td>
    <td nowrap="nowrap" style="width: 9%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Volatility</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">67.0</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">63.5</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Risk free interest rate</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1.77</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">2.71</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Term (years)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">7.00</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">6.90</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Marketability discount</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">50.4</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">$44.4</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Based on
the above, the Company estimated the fair value of the warrants to be $7,445,000 at October 6, 2010 and $5,718,000 at December
31, 2010.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">As discussed
in Note 10, as a result of the Company&#146;s private placement on December 13, 2011, the strike price of the 2010 Warrants reset.
The Company estimated the fair value of the 2010 Warrants on December 13, 2011 and December 31, 2011 as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">Assumptions</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December
    13, 2011</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December
    31, 2011</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 56%"><font style="font-size: 8pt">Strike price</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">$0.45</font></td>
    <td nowrap="nowrap" style="width: 9%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">$0.45</font></td>
    <td nowrap="nowrap" style="width: 9%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Volatility</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">72.3</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">68.0</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Risk free interest rate</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1.13</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1.09</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Term (years)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">5.90</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">5.90</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Marketability discount</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">50.2</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">47.4</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Based on
the above, the Company estimated the fair value of the 2010 Warrants to be $1,394,000 at December 13, 2011 and $226,000 at December
31, 2011.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The 2011
Warrants were valued using a Monte Carlo Binomial Lattice-Based valuation methodology, adjusted for marketability restrictions.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Significant
assumptions used in the valuations for the dates noted are as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">Assumptions</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December
    13, 2011</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="3" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">December
    31, 2011</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 56%"><font style="font-size: 8pt">Strike price</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">$1.50</font></td>
    <td nowrap="nowrap" style="width: 9%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">$1.50</font></td>
    <td nowrap="nowrap" style="width: 9%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Volatility</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">72.3</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">68.0</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Risk free interest rate</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.85</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">0.83</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Term (years)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">5.00</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4.96</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Marketability discount</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">54.9</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">52.0</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">%</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Based on
the above, the Company estimated the fair value of the 2011 Warrants to be $1,809,000 at December 13, 2011 and $1,695,000 at December
31, 2011.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Interest
Rate Caps and Swaps</u></i> &#150; Prior to the Effective Date, the Company classified the Plant Owners&#146; interest rate
caps and swaps into the following levels depending on the inputs used to determine their fair values. The fair value of the interest
rate caps were designated as Level 2 based on quoted prices on similar assets or liabilities in active markets. The fair values
of the interest rate swaps were designated as Level 3 and were based on a combination of observable inputs and material unobservable
inputs.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Plant
Owners had five pay-fixed-and-receive variable interest rate swaps in liability positions which were extinguished as part of the
emergence from bankruptcy. To reflect the Plant Owners&#146; financial condition and Chapter 11 Filings, a recovery rate of 40%
was applied to that value. Management elected the 40% recovery rate in the absence of any other company-specific information.
As the recovery rate is a material unobservable input, these swaps were considered Level 3. On June 29, 2010, the liability balance
of $1,628,000 was removed from the Company&#146;s consolidated financial statements as discussed in Note 7.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Other
Derivative Instruments</u></i> &#150; The Company&#146;s other derivative instruments consist of commodity positions. The fair
value of the commodity positions are based on quoted prices on the commodity exchanges and are designated as Level 1.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The following
table summarizes fair value measurements by level at December 31, 2011 (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Level
    1</font></td>
    <td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Level
    2</font></td>
    <td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Level
    3</font></td>
    <td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Total</font></td>
    <td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-decoration: underline"><font style="font-size: 8pt">Assets:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 44%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt; text-indent: 9pt"><font style="font-size: 8pt">Total Assets</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="font-weight: bold; text-decoration: underline; text-indent: -1in"><font style="font-size: 8pt">Liabilities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">2011 Warrants(1)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,695</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,695</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">2010 Warrants(1)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">226</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">226</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Commodity contracts(1)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">500</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">500</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt; text-indent: 9pt"><font style="font-size: 8pt">Total Liabilities</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">500</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,921</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">2,421</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>








<hr size="1" noshade="noshade" align="left" style="width: 10%; color: black" />

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">(1)&#160;&#160;&#160;&#160;&#160;&#160;Included
in other liabilities in the consolidated balance sheets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The following
table summarizes fair value measurements by level at December 31, 2010 (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Level
    1</font></td>
    <td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Level
    2</font></td>
    <td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Level
    3</font></td>
    <td nowrap="nowrap" style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Total</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-weight: bold; text-decoration: underline"><font style="font-size: 8pt">Assets:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 44%"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt; text-indent: 9pt"><font style="font-size: 8pt">Total Assets</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="font-weight: bold; text-indent: -1in"><font style="font-size: 8pt">Liabilities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Convertible notes</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">38,108</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">38,108</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">2010 Warrants(1)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">5,718</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">5,718</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Commodity contracts(1)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">15</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">15</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt; text-indent: 9pt"><font style="font-size: 8pt">Total Liabilities</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">15</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">43,826</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">43,841</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>

<hr size="1" noshade="noshade" align="left" style="width: 10%; color: black" />

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">(1)&#160;&#160;&#160;&#160;&#160;&#160;Included
in other liabilities in the consolidated balance sheets.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">For fair
value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop
the inputs is required along with a reconciliation of Level 3 values from the prior reporting period. The changes in the Company&#146;s
fair value of its Level 3 inputs were as follows (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Convertible
    Notes</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2010
    Warrants</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2011
    Warrants</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Interest
    Rate Swaps</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="width: 44%"><font style="font-size: 8pt">Balance, December 31, 2009</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">(2,875</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Issuance of convertible notes and warrants</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">37,474</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">7,445</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Gain recognized in bankruptcy exit</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,628</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Adjustments to fair value for the period</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">634</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,727</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,247</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Balance, December 31, 2010</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">38,108</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">5,718</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#160;&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Issuance of 2011 Warrants</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,809</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Repayments of convertible notes</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(35,000</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Exercises of 2010 Warrants</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(1,155</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Adjustments to fair value for the period</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(3,108</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(4,337</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(114</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Balance, December 31, 2011</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">226</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,695</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Reconciliation
of Impact to Statements of Operations</u></i> &#150; The following reconciliation summarizes the initial amounts recognized for
the issuance of the convertible notes, 2010 Warrants and 2011 Warrants and subsequent amounts that are recorded in the statements
of operations as fair value adjustments (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Balance
    Sheet</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Statements
    of Operations</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Convertible</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Notes</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Warrants</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Fair
        Value</b></font></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 8pt"><b>Gain
        (Loss)</b></font></p></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 58%"><font style="font-size: 8pt">Issuance of $35.0 million on October 6, 2010</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">37,474</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">7,445</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">(9,919</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Write-off of issuance costs</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(2,910</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Adjustments to fair value for the period</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">634</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,727</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,093</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">As of and for year ending December 31, 2010</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">38,108</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">5,718</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(11,736</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Issuance of 2011 Warrants</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,809</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Repayments of convertible notes</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(35,000</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Exercises of 2010 Warrants</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(1,155</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Adjustments to fair value for the period</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(3,108</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(4,451</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(7,559</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">As of and for year ending December 31, 2011</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,921</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(7,559</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td></tr>
</table><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_FairValueMeasurementsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_FairValueMeasurementsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7491637&amp;loc=d3e13504-108611<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15C, 15D<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 44A, 44B<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15A<br><br> -Subparagraph a-d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 3, 10, 14, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7491637&amp;loc=d3e13433-108611<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 159<br><br> -Paragraph 17-22, 27, 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7491637&amp;loc=d3e13537-108611<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15B<br><br> -Subparagraph a, b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 157<br><br> -Paragraph 32, 33, 34<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7578670&amp;loc=d3e19207-110258<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueDisclosuresTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R16.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>10. RELATED PARTY TRANSACTIONS<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">10. RELATED PARTY TRANSACTIONS</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Preferred
Dividends</u></i> &#150; The Company accrued and paid cash dividends in respect of its Series B Preferred Stock of $949,000 for
the nine months ended September 30, 2012, and accrued but did not pay cash dividends of $946,000 for the nine months ended September
30, 2011. On August 21, 2012, the Company entered into an agreement with the Series B Preferred Stock holders under which the
Company issued 2,360,000 shares of its common stock in payment of $732,000 of the total $7,315,000 of accrued and unpaid dividends
in respect of the Series B Preferred Stock. In addition, the holders of the Series B Preferred Stock agreed to forebear from exercising
any rights they may have with respect to the unpaid dividends until January 1, 2014. The Company had accrued and unpaid dividends
in respect of its Series B Preferred Stock of $6,583,000 and $7,315,000 as of September 30, 2012 and December 31, 2011, respectively.</font></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Note
Payable to Related Party</u> &#150; </i>The Company had a note payable to its Chief Executive Officer totaling $750,000 as of
September 30, 2012 and December 31, 2011. This note matures on March 31, 2013.</font></p><span></span></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Preferred
Dividends</u></i> &#150; The Company had accrued and unpaid dividends in respect of its Series B Preferred Stock of $7,315,000
and $6,050,000 as of December 31, 2011 and 2010, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Notes
Payable to Related Parties</u></i> &#150; The Company had notes payable to its Chairman of the Board and its Chief Executive
Officer totaling $750,000 and $1,250,000 as of December 31, 2011 and 2010, respectively. On November 30, 2011, the Company paid
$500,000 in principal under these notes. On October 29, 2010, the Company paid all accrued interest and $750,000 in principal
under these notes. On November 5, 2010, the Company entered into amendments to these notes, extending the maturity date to March
31, 2012. On March 7, 2012, the maturity date was further extended to March 31, 2013.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Notes
Payable to Related Party</u></i> &#150; In November 2008, the Company restructured certain construction related loans of $30,000,000
in the aggregate with Lyles United by paying all accrued and unpaid interest thereon and issuing an amended and restated promissory
note in the principal amount of $30,000,000. The amended and restated promissory note was due March 15, 2009 and accrued interest
at the Prime Rate of interest, plus 3.00%.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In October
2008, upon completion of the Stockton facility, the Company converted final unpaid construction costs to an unsecured note payable.
The note payable was between the Company and Lyles Mechanical Co. in the principal amount of $1,500,000 and was due with accrued
interest on March 31, 2009. Interest accrued at the Prime Rate of interest, plus 2.00%.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In February
2009, the Company notified Lyles United and Lyles Mechanical Co. (collectively, &#147;Lyles&#148;) that it would not be able
to pay off its notes due March 15 and March 31, 2009 and as a result, entered into a forbearance agreement. Under the terms of
the forbearance agreement, Lyles agreed to forbear from exercising rights and remedies against the Company through April 30, 2009.
These forbearances were not extended.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In March
2010, the Company announced agreements designed to satisfy its indebtedness to Lyles. Socius CG II, Ltd. (&#147;Socius&#148;)
entered into purchase agreements with Lyles under which Socius would purchase claims in respect of the Company&#146;s indebtedness
in tranches of up to $5,000,000, which claims Socius would then settle in exchange for shares of the Company&#146;s common stock.
Each tranche was to be settled in exchange for the Company&#146;s common stock valued at a 20% discount to the volume weighted
average price of the Company&#146;s common stock over a predetermined trading period, which ranged from five to 20 trading days,
immediately following the date on which the shares were first issued to Socius.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Under this
arrangement, the Company issued shares to Socius which settled outstanding debt previously owed to Lyles in four successive transactions.
For the year ended December 31, 2010, the Company issued an aggregate of 3,441,000 shares with an aggregate fair value of $21,159,000
in exchange for $19,000,000 in debt extinguishment, resulting in an aggregate loss of $2,159,000. The Company determined fair
value based on the closing price of its shares on the last day of the applicable trading period, which was the date the net shares
to be issued were determinable by the Company.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">On October
6, 2010, the Company paid in full all remaining principal, accrued interest and fees owed to Lyles using the proceeds from the
sale of its interest in Front Range and the issuance and sale of the convertible notes and 2010 Warrants.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Consulting
Agreement &#150; Ryan Turner &#150;</u>&#160;</i>In November 2009, the Company entered into a consulting agreement with Ryan
W. Turner, who is the son-in-law of the Company&#146;s Chairman of the Board, at $20,000 per month for consulting services relating
to the Company&#146;s restructuring efforts. The Company paid Mr. Turner an aggregate of $23,100 for the year ended December
31, 2010. As of December 31, 2010, the Company had no outstanding accounts payable to Mr. Turner. The Company&#146;s consulting
relationship with Mr. Turner was terminated in connection with his appointment to the Company&#146;s Board of Directors in February
2010. Mr. Turner did not seek reelection in 2011 and is no longer a member of the Company&#146;s Board of Directors.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Consulting
Agreement &#150; Michael Kandris &#150;</u>&#160;</i>On December 30, 2011, the Company entered into an Independent Contractor
Services Agreement with Michael Kandris, a member of the Company&#146;s Board of Directors, appointing him as a consultant to
the Company with supervisory responsibility for ethanol plant operations, under the direction of the Company&#146;s Chief Executive
Officer. The agreement became effective as of January 1, 2012.<i>&#160;</i>Mr. Kandris is to receive compensation as set forth
in each statement of work. The current statement of work provides that Mr. Kandris shall receive bi-weekly payments in the amount
of approximately $8,500. The agreement has an initial term of one year, and may be renewed by mutual agreement for successive
one-year terms.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 57<br><br> -Paragraph 1-4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph b<br><br> -Article 3A<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionsDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>62
<FILENAME>R34.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E2EAE">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>2. VARIABLE INTEREST ENTITY (Details) (VIEBalanceSheetMember, USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">VIEBalanceSheetMember</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract', window );"><strong>Values and classification of assets that are collateral for the obligations of New PE Holdco</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_CashAndCashEquivalentsVIE', window );">Cash and cash equivalents</a></td>
        <td class="nump">$ 92<span></span></td>
        <td class="nump">$ 2,070<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_OtherCurrentAssetsVIE', window );">Other current assets</a></td>
        <td class="nump">13,368<span></span></td>
        <td class="nump">14,320<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_PropertyAndEquipmentVIE', window );">Property and equipment</a></td>
        <td class="nump">148,390<span></span></td>
        <td class="nump">155,523<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_OtherAssetsVIE', window );">Other assets</a></td>
        <td class="nump">1,368<span></span></td>
        <td class="nump">1,693<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_TotalAssetsVIE', window );">Total assets</a></td>
        <td class="nump">163,218<span></span></td>
        <td class="nump">173,606<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_CurrentLiabilitiesVIE', window );">Current liabilities</a></td>
        <td class="nump">6,063<span></span></td>
        <td class="nump">3,064<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_LongAndShortTermDebt', window );">Long-term debt, including current portion</a></td>
        <td class="nump">91,186<span></span></td>
        <td class="nump">73,256<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_OtherLiabilitiesVIE', window );">Other liabilities</a></td>
        <td class="nump">195<span></span></td>
        <td class="nump">158<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_TotalLiabilitiesVIE', window );">Total liabilities</a></td>
        <td class="nump">$ 97,444<span></span></td>
        <td class="nump">$ 76,478<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_CashAndCashEquivalentsVIE">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cash and cash equivalents used as collateral for New PE Holdco</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_CashAndCashEquivalentsVIE</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_CurrentLiabilitiesVIE">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Current liabilites used as collateral for New PE Holdco</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_CurrentLiabilitiesVIE</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_LongAndShortTermDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Long-term debt including current portion</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_LongAndShortTermDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_OtherAssetsVIE">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other assets used as collateral for New PE Holdco</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_OtherAssetsVIE</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_OtherCurrentAssetsVIE">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other current assets used as collateral for New PE Holdco</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_OtherCurrentAssetsVIE</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_OtherLiabilitiesVIE">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other liabilites used as collateral for New PE Holdco</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_OtherLiabilitiesVIE</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_PropertyAndEquipmentVIE">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Property and equipment used as collateral for New PE Holdco</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_PropertyAndEquipmentVIE</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_TotalAssetsVIE">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total assets used as collateral for New PE Holdco</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_TotalAssetsVIE</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_TotalLiabilitiesVIE">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total liabilites used as collateral for New PE Holdco</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_TotalLiabilitiesVIE</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_VariableInterestEntityClassificationOfCarryingAmountAssetsAndLiabilitiesNetAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R21.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>8. INCOME TAXES (Dec 2011 only)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">8. INCOME TAXES</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The asset
and liability method is used to account for income taxes. Under this method, deferred tax assets and liabilities are recognized
for tax credits and for the future tax consequences attributable to differences between the financial statement carrying amounts
of existing assets and liabilities and their tax bases. Deferred tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that
those assets will be realized.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
files a consolidated federal income tax return. This return includes all corporate companies 80% or more owned by the Company
as well as the Company&#146;s pro-rata share of taxable income from pass-through entities in which the Company holds an ownership
interest. State tax returns are filed on a consolidated, combined or separate basis depending on the applicable laws relating
to the Company and its subsidiaries.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
recorded no provision for income taxes for the years ended December 31, 2011 and 2010.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">A reconciliation
of the differences between the United States statutory federal income tax rate and the effective tax rate as provided in the consolidated
statements of operations is as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">Years
    Ended December 31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; font-weight: bold"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 72%"><font style="font-size: 8pt">Statutory rate</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">(35.0%</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">)</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">(35.0%</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">State income taxes, net of federal benefit</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(3.9</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(4.9</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Section 382 reduction to NOL carryover</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(3,827.9</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Change in valuation allowance</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,849.0</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">41.5</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Stock compensation</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">16.8</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(1.8</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Other</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1.0</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">0.2</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt; text-indent: 0.25in"><font style="font-size: 8pt">Effective rate</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">0.0%</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">0.0%</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Deferred
income taxes are provided using the asset and liability method to reflect temporary differences between the financial statement
carrying amounts and tax bases of assets and liabilities using presently enacted tax rates and laws. The components of deferred
income taxes included in the consolidated balance sheets were as follows (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">December 31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">Deferred tax assets:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 72%; padding-left: 9pt"><font style="font-size: 8pt">Net operating loss carryforward</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">30,681</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">144,814</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 9pt"><font style="font-size: 8pt">Capital loss carryover</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">8,013</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">7,180</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-left: 9pt"><font style="font-size: 8pt">Stock-based compensation</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">417</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">3,446</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 9pt"><font style="font-size: 8pt">Derivative instruments mark-to-market</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">201</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-left: 9pt"><font style="font-size: 8pt">Convertible notes and warrants</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4,520</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 9pt"><font style="font-size: 8pt">Other accrued liabilities</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">123</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">231</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-left: 9pt"><font style="font-size: 8pt">Fixed assets</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">157</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt; padding-left: 9pt"><font style="font-size: 8pt">Other</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">167</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">279</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Total deferred tax assets</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">39,759</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">160,470</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Deferred tax liabilities:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Investment in New PE Holdco</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(3,792</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(756</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Intangibles</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(1,706</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(1,901</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Fixed assets</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(191</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Total deferred tax liabilities</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(5,498</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">(2,848</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Valuation allowance</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(35,352</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(158,713</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">Net deferred tax liabilities</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(1,091</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(1,091</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">Classified in balance sheet as:</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td><font style="font-size: 8pt">Deferred income tax benefit (current assets)</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Deferred income taxes (long-term liability)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,091</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(1,091</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(1,091</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(1,091</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">A portion
of the Company&#146;s net operating loss carryforwards will be subject to provisions of the tax law that limit the use of losses
incurred by a company prior to the date certain ownership changes occur. In April 2011, the Company experienced a change in ownership
that initiated a new limitation on the Company&#146;s ability to use its net operating losses. The amount of the Company&#146;s
net operating loss carryforwards that would be subject to these limitations was approximately $370,096,000 at December 31, 2011.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">Due to the
new limitation, a significant portion of these net operating loss carryforwards will expire regardless of whether the Company
generates future taxable income. After reducing these net operating loss carryforwards for the amount which will expire, the Company
had federal net operating loss carryforwards of approximately $79,605,000 and $366,948,000, and state net operating loss carryforwards
of approximately $74,977,000 and $369,349,000, at December 31, 2011 and 2010, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">These net
operating loss carryforwards expire at various dates beginning in 2012. The deferred tax asset for the Company&#146;s net operating
loss carryforwards at December&#160;31, 2011 does not include $1,076,000 which relates to the tax benefits associated with warrants
and non-statutory options exercised by employees, members of the board and others under the various incentive plans. These tax
benefits will be recognized in stockholders&#146; equity rather than in the statements of operations but not until the period
in which these amounts decrease taxes payable.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">In assessing
whether the deferred tax assets are realizable, a more likely than not standard is applied. If it is determined that it is more
likely than not that deferred tax assets will not be realized, a valuation allowance must be established against the deferred
tax assets. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the
periods in which the associated temporary differences become deductible. Management considers the scheduled reversal of deferred
tax liabilities, projected future taxable income and tax planning strategies in making this assessment.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">A valuation
allowance has been established in the amount of $35,352,000 and $158,713,000 at December 31, 2011 and 2010, respectively, based
on the Company&#146;s assessment of the future realizability of certain deferred tax assets. For the years ended December 31,
2011 and 2010, the Company recorded a decrease in the valuation allowance of $123,361,000 and $30,669,000, respectively. The valuation
allowance on deferred tax assets is related to future deductible temporary differences and net operating loss carryforwards (exclusive
of net operating losses associated with items recorded directly to equity) for which the Company has concluded it is more likely
than not that these items will not be realized in the ordinary course of operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">At December
31, 2011, the Company had no increase or decrease in unrecognized income tax benefits for the year as a result of uncertain tax
positions taken in a prior or current period. There was no accrued interest or penalties relating to tax uncertainties at December
31, 2011. Unrecognized tax benefits are not expected to increase or decrease within the next twelve months.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The Company
is subject to income tax in the United States federal jurisdiction and various state jurisdictions and has identified its federal
tax return and tax returns in state jurisdictions below as &#147;major&#148; tax filings. These jurisdictions, along with the
years still open to audit under the applicable statutes of limitation, are as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 50%; text-decoration: underline; text-align: center"><font style="font-size: 8pt">Jurisdiction</font></td>
    <td style="width: 50%; text-decoration: underline; text-align: center"><font style="font-size: 8pt">Tax Years</font></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: top; background-color: #EEEEEE">
    <td style="text-align: center"><font style="font-size: 8pt">Federal</font></td>
    <td style="text-align: center"><font style="font-size: 8pt">2008 &#150; 2010</font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-align: center"><font style="font-size: 8pt">California</font></td>
    <td style="text-align: center"><font style="font-size: 8pt">2007 &#150; 2010</font></td></tr>
<tr style="vertical-align: top; background-color: #EEEEEE">
    <td style="text-align: center"><font style="font-size: 8pt">Colorado</font></td>
    <td style="text-align: center"><font style="font-size: 8pt">2007 &#150; 2010</font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-align: center"><font style="font-size: 8pt">Idaho</font></td>
    <td style="text-align: center"><font style="font-size: 8pt">2008 &#150; 2010</font></td></tr>
<tr style="vertical-align: top; background-color: #EEEEEE">
    <td style="text-align: center"><font style="font-size: 8pt">Nebraska</font></td>
    <td style="text-align: center"><font style="font-size: 8pt">2008</font></td></tr>
<tr style="vertical-align: top; background-color: white">
    <td style="text-align: center"><font style="font-size: 8pt">Oregon</font></td>
    <td style="text-align: center"><font style="font-size: 8pt">2008 &#150; 2010</font></td></tr>
<tr style="vertical-align: top; background-color: #EEEEEE">
    <td style="text-align: center"><font style="font-size: 8pt">Wisconsin</font></td>
    <td style="text-align: center"><font style="font-size: 8pt">2007 &#150; 2008</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">However,
because the Company had net operating losses and credits carried forward in several of the jurisdictions, including the United
States federal and California jurisdictions, certain items attributable to closed tax years are still subject to adjustment by
applicable taxing authorities through an adjustment to tax attributes carried forward to open years.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 136, 172<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 43, 44, 45, 46, 47, 48, 49<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>2. VARIABLE INTEREST ENTITY (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_VariableInterestEntityTablesAbstract', window );"><strong>Variable Interest Entity Tables</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock', window );">Value and classification of assets that are collateral for obligations of New PE Holdco</a></td>
        <td class="text"><p style="margin: 0pt"><font style="font-size: 8pt">&#160;&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The carrying
values and classification of assets that are collateral for the obligations of New PE Holdco consisted of the following (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">September 30, 2012</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">December 31, 2011</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 60%; text-align: left"><font style="font-size: 8pt">Cash and cash equivalents</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right"><font style="font-size: 8pt">92</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right"><font style="font-size: 8pt">2,070</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Other current assets</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">13,368</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">14,320</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left"><font style="font-size: 8pt">Property and equipment</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">148,390</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">155,523</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Other assets</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">1,368</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">1,693</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt"><font style="font-size: 8pt">Total assets</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">163,218</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">173,606</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt"></font>&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 60%; text-align: left"><font style="font-size: 8pt">Current liabilities</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right"><font style="font-size: 8pt">6,063</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right"><font style="font-size: 8pt">3,064</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Long-term debt, including current portion</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">91,186</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">73,256</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left; padding-bottom: 1pt"><font style="font-size: 8pt">Other liabilities</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">195</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">158</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 11pt"><font style="font-size: 8pt">Total liabilities</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">97,444</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">76,478</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>



<p style="margin: 0pt"></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_VariableInterestEntityTablesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_VariableInterestEntityTablesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 46R<br><br> -Paragraph 4<br><br> -Subparagraph g<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 140<br><br> -Paragraph 35<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 167<br><br> -Paragraph 22B<br><br> -Appendix D<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7880789&amp;loc=SL6759159-111685<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Staff Position (FSP)<br><br> -Number FAS140-4/FIN46(R)-8<br><br> -Paragraph C4<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 167<br><br> -Paragraph 22E<br><br> -Appendix D<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7880789&amp;loc=d3e5747-111685<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 167<br><br> -Paragraph 24<br><br> -Appendix D<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7880789&amp;loc=d3e5710-111685<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 46R<br><br> -Paragraph 2, 14, 15, 16, 23, 24, 25, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 167<br><br> -Paragraph 23A<br><br> -Appendix D<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7880789&amp;loc=SL6228884-111685<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7880789&amp;loc=d3e5728-111685<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Variable Interest Entity<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528138<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ScheduleOfVariableInterestEntitiesTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>65
<FILENAME>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E5G">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>10. RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_RelatedPartyTransactionsDetailsTextualsAbstract', window );"><strong>Related Party Transactions Details Narrative</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Note payable to its Chief Executive Officer</a></td>
        <td class="nump">$ 750<span></span></td>
        <td class="nump">$ 750<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_RelatedPartyTransactionsDetailsTextualsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_RelatedPartyTransactionsDetailsTextualsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount for notes payable (written promise to pay), due to related parties.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 57<br><br> -Paragraph 2<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.17)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 17<br><br> -Article 7<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph k<br><br> -Subparagraph 1<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>66
<FILENAME>R41.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EKBAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>6. COMMON STOCK AND WARRANTS (Details Narrative) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_NotesToFinancialStatementsAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis', window );">Exercised warrants with respect of common stock on a cashless exercise basis - shares</a></td>
        <td class="nump">252,101<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_NetSharesOfCommonStockIssued', window );">Net shares of common stock issued on a cashless basis - shares</a></td>
        <td class="nump">172,269<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Warrant holders exercised warrants for cash - shares</a></td>
        <td class="nump">50,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Warrant holders exercised warrants for cash - amount</a></td>
        <td class="nump">$ 26,500<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Exercised Warrants With Respect Of Common Stock On Cashless Exercise Basis.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_ExercisedWarrantsWithRespectOfCommonStockOnCashlessExerciseBasis</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_NetSharesOfCommonStockIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net Shares Of Common Stock Issued.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_NetSharesOfCommonStockIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_NotesToFinancialStatementsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_NotesToFinancialStatementsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of share options (or share units) exercised during the current period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock issued as a result of the exercise of stock options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EASBI">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">9 Months Ended</th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Operating Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Consolidated net loss</a></td>
        <td class="num">$ (33,744)<span></span></td>
        <td class="num">$ (4,785)<span></span></td>
        <td class="num">$ (4,023)<span></span></td>
        <td class="nump">$ 69,483<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile consolidated net loss to cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Depreciation and amortization of intangibles</a></td>
        <td class="nump">9,216<span></span></td>
        <td class="nump">9,490<span></span></td>
        <td class="nump">12,648<span></span></td>
        <td class="nump">9,110<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants', window );">Fair value adjustments on convertible debt and warrants</a></td>
        <td class="num">(352)<span></span></td>
        <td class="num">(6,968)<span></span></td>
        <td class="num">(7,559)<span></span></td>
        <td class="nump">11,736<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryWriteDown', window );">Inventory valuation</a></td>
        <td class="nump">275<span></span></td>
        <td class="nump">157<span></span></td>
        <td class="nump">47<span></span></td>
        <td class="num">(490)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivatives', window );">Gain on derivative instruments</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(96)<span></span></td>
        <td class="num">(1,049)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Amortization of deferred financing fees</a></td>
        <td class="nump">455<span></span></td>
        <td class="nump">485<span></span></td>
        <td class="nump">651<span></span></td>
        <td class="nump">1,001<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashExpense', window );">Noncash compensation</a></td>
        <td class="nump">705<span></span></td>
        <td class="nump">1,978<span></span></td>
        <td class="nump">2,278<span></span></td>
        <td class="nump">2,471<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities', window );">Derivative instruments</a></td>
        <td class="num">(202)<span></span></td>
        <td class="num">(334)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts', window );">Bad debt recovery</a></td>
        <td class="num">(15)<span></span></td>
        <td class="num">(185)<span></span></td>
        <td class="num">(218)<span></span></td>
        <td class="num">(184)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_InterestOnConvertibleDebtPaidWithStock', window );">Interest on convertible debt paid with stock</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">3,076<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities', window );">Gain on bankruptcy exit</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(119,408)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInvestments', window );">Loss on investment in Front Range, held for sale</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">12,146<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on extinguishment of debt</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,159<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireInvestments', window );">Bargain purchase of New PE Holdco</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,566)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Equity earnings on Front Range</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">928<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_ChangesInOperatingAssetsAndLiabilitiesAbstract', window );"><strong>Changes in operating assets and liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
        <td class="nump">642<span></span></td>
        <td class="num">(2,204)<span></span></td>
        <td class="num">(2,067)<span></span></td>
        <td class="num">(13,789)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
        <td class="nump">1,482<span></span></td>
        <td class="num">(5,280)<span></span></td>
        <td class="nump">1,128<span></span></td>
        <td class="num">(7,462)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other assets</a></td>
        <td class="nump">1,480<span></span></td>
        <td class="num">(368)<span></span></td>
        <td class="num">(933)<span></span></td>
        <td class="num">(516)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherCurrentAssets', window );">Prepaid inventory</a></td>
        <td class="nump">3,144<span></span></td>
        <td class="num">(3,466)<span></span></td>
        <td class="num">(6,524)<span></span></td>
        <td class="nump">477<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
        <td class="nump">5,492<span></span></td>
        <td class="nump">3,920<span></span></td>
        <td class="num">(2,358)<span></span></td>
        <td class="num">(1,968)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash used in operating activities</a></td>
        <td class="num">(11,422)<span></span></td>
        <td class="num">(7,560)<span></span></td>
        <td class="num">(3,950)<span></span></td>
        <td class="num">(36,921)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Investing Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates', window );">Purchase of ownership interest in New PEHC</a></td>
        <td class="num">(10,000)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Additions to property and equipment</a></td>
        <td class="num">(2,115)<span></span></td>
        <td class="num">(1,459)<span></span></td>
        <td class="num">(2,365)<span></span></td>
        <td class="num">(643)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired', window );">Investments in New PE Holdco, net of cash acquired</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(9,117)<span></span></td>
        <td class="num">(19,494)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments', window );">Proceeds from sale of investment in Front Range</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">18,500<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashDivestedFromDeconsolidation', window );">Net cash impact of deconsolidation of Front Range</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(10,486)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_NetCashImpactOfBankruptcyExit', window );">Net cash impact of bankruptcy exit</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,301)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
        <td class="num">(12,115)<span></span></td>
        <td class="num">(1,459)<span></span></td>
        <td class="num">(11,482)<span></span></td>
        <td class="num">(13,424)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Financing Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOrSaleOfEquity', window );">Net proceeds from sales of common stock and warrants</a></td>
        <td class="nump">20,994<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">7,364<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromOtherDebt', window );">Net proceeds from borrowings</a></td>
        <td class="nump">13,249<span></span></td>
        <td class="nump">17,091<span></span></td>
        <td class="nump">9,958<span></span></td>
        <td class="nump">17,522<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock', window );">Preferred stock dividends paid</a></td>
        <td class="num">(949)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromConvertibleDebt', window );">Proceeds from convertible notes and warrants</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">35,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfNotesPayable', window );">Principal payments on convertible notes</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,212)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDebtIssuanceCosts', window );">Payments for debt issuance costs</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(2,909)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfOtherDebt', window );">Proceeds from borrowings under DIP Financing</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,173<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfRelatedPartyDebt', window );">Principal payments paid on related party borrowings</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(500)<span></span></td>
        <td class="num">(13,250)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash (used in) provided by financing activities</a></td>
        <td class="nump">33,294<span></span></td>
        <td class="nump">17,091<span></span></td>
        <td class="nump">15,610<span></span></td>
        <td class="nump">41,536<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase in cash and cash equivalents</a></td>
        <td class="nump">9,757<span></span></td>
        <td class="nump">8,072<span></span></td>
        <td class="nump">178<span></span></td>
        <td class="num">(8,809)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of period</a></td>
        <td class="nump">8,914<span></span></td>
        <td class="nump">8,736<span></span></td>
        <td class="nump">8,736<span></span></td>
        <td class="nump">17,545<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of period</a></td>
        <td class="nump">18,671<span></span></td>
        <td class="nump">16,808<span></span></td>
        <td class="nump">8,914<span></span></td>
        <td class="nump">8,736<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental Information:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Interest paid</a></td>
        <td class="nump">7,504<span></span></td>
        <td class="nump">8,047<span></span></td>
        <td class="nump">11,669<span></span></td>
        <td class="nump">9,771<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>Noncash financing and investing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueOther', window );">Preferred stock dividends paid in common stock</a></td>
        <td class="nump">732<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity', window );">Notes issued for purchase of ownership interest in New PEHC</a></td>
        <td class="nump">10,000<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestCostsCapitalized', window );">Accrued interest added to term loan</a></td>
        <td class="nump">1,407<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_PreferredStockDividendsAccrued', window );">Preferred stock dividends accrued</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">946<span></span></td>
        <td class="nump">1,265<span></span></td>
        <td class="nump">2,847<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations', window );">Debt extinguished with issuance of common stock</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">25,388<span></span></td>
        <td class="nump">33,788<span></span></td>
        <td class="nump">19,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants', window );">Reclass of warrant liabilitiy to equity upon cashless net exercise of warrants</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 1,157<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_AdjustmentsToReconcileConsolidatedNetLossToCashUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_ChangesInOperatingAssetsAndLiabilitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_ChangesInOperatingAssetsAndLiabilitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair Value Adjustments On Convertible Debt And Warrants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_FairValueAdjustmentsOnConvertibleDebtAndWarrants</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_InterestOnConvertibleDebtPaidWithStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Interest on Convertible debt paid with stock</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_InterestOnConvertibleDebtPaidWithStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_NetCashImpactOfBankruptcyExit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net cash impact of bankruptcy exit</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_NetCashImpactOfBankruptcyExit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Notes issued for purchase of ownership interests</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_NotesIssuedForPurchaseOf33OwnershipInterestsInVariableInterestEntity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_PreferredStockDividendsAccrued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Preferred Stock Dividends Accrued.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_PreferredStockDividendsAccrued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reclass of warrant liability to equity upon cashless net exercise of warrants</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_ReclassOfWarrantLiabilitiyToEquityUponCashlessNetExerciseOfWarrants</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reflects a reduction in bad debt expense attributable to collections of loans and lease receivables which had previously been fully or partially charged off as bad debts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 114<br><br> -Paragraph 20<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.7(d))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7512638&amp;loc=d3e5212-111524<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Subparagraph d<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AmortizationOfFinancingCostsAndDiscounts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 142<br><br> -Paragraph 45<br><br> -Subparagraph a(2)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7658586&amp;loc=d3e16323-109275<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AmortizationOfIntangibleAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 8, 9<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7<br><br> -Footnote 1<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashDivestedFromDeconsolidation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reduction in cash due to no longer including the former subsidiary's cash in the consolidated entity's cash.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 15, 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 39<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashDivestedFromDeconsolidation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of reorganization items related to discharge of claims and liabilities upon emergence from bankruptcy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6585303&amp;loc=d3e56145-112766<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6916575&amp;loc=d3e55730-112764<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 90-7<br><br> -Paragraph 27<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtorReorganizationItemsDischargeOfClaimsAndLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7(c),9(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (c)-(e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6872113&amp;loc=d3e27357-111563<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6872113&amp;loc=d3e27405-111563<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 5<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 115<br><br> -Paragraph 13, 22<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainLossOnInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 26<br><br> -Paragraph 20, 21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 50<br><br> -Section 40<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12317-112629<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 50<br><br> -Section 40<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12355-112629<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainsLossesOnExtinguishmentOfDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.12)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 9<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 11<br><br> -Article 7<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 323<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16385135&amp;loc=d3e33749-111570<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 18<br><br> -Paragraph 6<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 18<br><br> -Paragraph 19<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromEquityMethodInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the period in the net carrying value of derivative instruments reported as assets and liabilities that are due to be disposed of within one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInInventories</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherCurrentAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other current operating assets not separately disclosed in the statement of cash flows.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherCurrentAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestCostsCapitalized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of interest capitalized during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Allowance for Funds Used during Construction<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6504829<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 34<br><br> -Paragraph 21<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestCostsCapitalized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid for interest during the period net of cash paid for interest that is capitalized.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 27<br><br> -Subparagraph e<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestPaidNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryWriteDown">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Charge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Concepts (CON)<br><br> -Number 6<br><br> -Paragraph 86<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Section 7<br><br> -Paragraph 14<br><br> -Chapter 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386783&amp;loc=d3e4542-108314<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryWriteDown</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from financing activity for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from investing activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNoncashExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other expenses or losses included in net income that result in no cash outflows or inflows in the period and are not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherNoncashExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDebtIssuanceCosts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 95-13<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsOfDebtIssuanceCosts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cash outflow in the form of ordinary dividends to preferred shareholders, generally out of earnings.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of a controlling interest in another entity or an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the purchase of all investments (debt, security, other) during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 17<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromConvertibleDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromConvertibleDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOrSaleOfEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOrSaleOfEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromOtherDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from other borrowing not otherwise defined in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromOtherDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRepaymentsOfOtherDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow in other borrowings not otherwise defined in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromRepaymentsOfOtherDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the sale, maturity and collection of all investments such as debt, security and so forth during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 115<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 31<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A1, A4, A5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 5<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591552-111686<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733213&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProfitLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfNotesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for a borrowing supported by a written promise to pay an obligation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfNotesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfRelatedPartyDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfRelatedPartyDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock issued for noncash consideration.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 915<br><br> -SubTopic 215<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6472370&amp;loc=d3e38297-110927<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueIssuedForNoncashConsiderations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueOther">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueOther</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SupplementalCashFlowInformationAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnDerivatives">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_UnrealizedGainLossOnDerivatives</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>68
<FILENAME>R10.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ERG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>4. DERIVATIVES<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_DerivativesAbstract', window );"><strong>Derivatives</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock', window );">4. DERIVATIVES</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The business
and activities of the Company expose it to a variety of market risks, including risks related to changes in commodity prices and
interest rates. The Company monitors and manages these financial exposures as an integral part of its risk management program.
This program recognizes the unpredictability of financial markets and seeks to reduce the potentially adverse effects that market
volatility could have on operating results.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Commodity
Risk</u></i><u> &#150; <i>Cash Flow Hedges</i></u> &#150; The Company uses derivative instruments to protect cash flows from
fluctuations caused by volatility in commodity prices for periods of up to twelve months in order to protect gross profit margins
from potentially adverse effects of market and price volatility on ethanol sale and purchase commitments where the prices are
set at a future date and/or if the contracts specify a floating or index-based price for ethanol. In addition, the Company hedges
anticipated sales of ethanol to minimize its exposure to the potentially adverse effects of price volatility. These derivatives
may be designated and documented as cash flow hedges and effectiveness is evaluated by assessing the probability of the anticipated
transactions and regressing commodity futures prices against the Company&#146;s purchase and sales prices. Ineffectiveness, which
is defined as the degree to which the derivative does not offset the underlying exposure, is recognized immediately in cost of
goods sold. For the nine months ended September 30, 2012 and 2011, the Company did not designate any of its derivatives as cash
flow hedges.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Commodity
Risk &#150; Non-Designated Hedges</u></i> &#150; The Company uses derivative instruments to lock in prices for certain amounts
of corn and ethanol by entering into forward contracts for those commodities. These derivatives are not designated for special
hedge accounting treatment. The changes in fair value of these contracts are recorded on the balance sheet and recognized immediately
in cost of goods sold. The Company recognized gains of $202,000 and $334,000 as the change in the fair value of these contracts
for the nine months ended September 30, 2012 and 2011, respectively. The notional balances remaining on these contracts were $24,102,000
and $9,186,000 as of September 30, 2012 and December 31, 2011, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Non-Designated
Derivative Instruments </u></i>&#150; The Company classified its derivative instruments not designated as hedging instruments
of $514,000 and $291,000 in other assets and accrued liabilities as of September 30, 2012, respectively, and $244,000 and $500,000
in other assets and accrued liabilities as of December 31, 2011, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The classification
and amounts of the Company&#146;s recognized gains (losses) for its derivatives not designated as hedging instruments are as
follow (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Realized Gains</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Nine Months Ended
    September 30,</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 8pt">Type of Instrument</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1pt solid"><font style="font-size: 8pt">Statements of Operations Location</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2012</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="background-color: rgb(238,238,238); vertical-align: bottom">
    <td style="padding-bottom: 2.5pt; width: 30%"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="padding-bottom: 2.5pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt; width: 35%"><font style="font-size: 8pt">Cost of goods sold</font></td>
    <td style="padding-bottom: 2.5pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right; width: 11%"><font style="font-size: 8pt">277</font></td>
    <td style="text-align: left; padding-bottom: 2.5pt; width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left; width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right; width: 11%"><font style="font-size: 8pt">460</font></td>
    <td style="text-align: left; padding-bottom: 2.5pt; width: 1%"></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Unrealized Losses</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center; padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Nine Months Ended
    September 30,</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 8pt">Type of Instrument</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1pt solid"><font style="font-size: 8pt">Statements of Operations Location</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2012</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="background-color: rgb(238,238,238); vertical-align: bottom">
    <td style="padding-bottom: 1pt; width: 30%"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="padding-bottom: 1pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt; width: 35%"><font style="font-size: 8pt">Cost of goods sold</font></td>
    <td style="padding-bottom: 1pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1pt solid; text-align: left; width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1pt solid; text-align: right; width: 11%"><font style="font-size: 8pt">(479</font></td>
    <td style="text-align: left; padding-bottom: 1pt; width: 1%"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 1pt; width: 3%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1pt solid; text-align: left; width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 1pt solid; text-align: right; width: 11%"><font style="font-size: 8pt">(126</font></td>
    <td style="text-align: left; padding-bottom: 1pt; width: 1%"><font style="font-size: 8pt">)</font></td></tr>

</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt; background-color: white">&#160;</font></p><span></span></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The business
and activities of the Company expose it to a variety of market risks, including risks related to changes in commodity prices and
interest rates. The Company monitors and manages these financial exposures as an integral part of its risk management program.
This program recognizes the unpredictability of financial markets and seeks to reduce the potentially adverse effects that market
volatility could have on operating results.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Commodity
Risk</u></i><u> &#150; <i>Cash Flow Hedges</i></u> &#150; The Company uses derivative instruments to protect cash flows from
fluctuations caused by volatility in commodity prices for periods of up to twelve months in order to protect gross profit margins
from potentially adverse effects of market and price volatility on ethanol sale and purchase commitments where the prices are
set at a future date and/or if the contracts specify a floating or index-based price for ethanol. In addition, the Company hedges
anticipated sales of ethanol to minimize its exposure to the potentially adverse effects of price volatility. These derivatives
may be designated and documented as cash flow hedges and effectiveness is evaluated by assessing the probability of the anticipated
transactions and regressing commodity futures prices against the Company&#146;s purchase and sales prices. Ineffectiveness, which
is defined as the degree to which the derivative does not offset the underlying exposure, is recognized immediately in cost of
goods sold. For the years ended December 31, 2011 and 2010, the Company did not designate any of its derivatives as cash flow
hedges.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Commodity
Risk &#150; Non-Designated Hedges</u></i> &#150; The Company uses derivative instruments to lock in prices for certain amounts
of corn and ethanol by entering into forward contracts for those commodities. These derivatives are not designated for special
hedge accounting treatment. The changes in fair value of these contracts are recorded on the balance sheet and recognized immediately
in cost of goods sold. The Company recognized a gain of $96,000 and a loss of $178,000 as the change in the fair value of these
contracts for the years ended December 31, 2011 and 2010, respectively. The notional balances remaining on these contracts as
of December 31, 2011 and 2010 were $9,186,000 and $237,000, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Interest
Rate Risk</u></i> &#150; The Company has historically used derivative instruments to minimize significant unanticipated income
fluctuations that may arise from rising variable interest rate costs associated with existing and anticipated borrowings. The
Company purchased interest rate caps and swaps to meet these objectives. During the year ended December 31, 2010, through both
divesture of its investment and resulting deconsolidation of Front Range, and the emergence of the Plant Owners from bankruptcy,
all interest rate caps and swaps were removed from the Company&#146;s consolidated statement of position as of December 31, 2010.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">These derivatives
were, at times, designated and documented as cash flow hedges, with effectiveness evaluated by assessing the probability of anticipated
interest expense and regressing the historical value of the rates against the historical value in the existing and anticipated
debt. The Company recognized gains from undesignated hedges of $0 and $1,227,000 in interest expense, net, for the years ended
December 31, 2011 and 2010, respectively. These gains resulted primarily from the Company&#146;s efforts to restructure its indebtedness
prior to the Plant Owners&#146; Chapter 11 Filings, therefore making it not probable that the related borrowings would be paid
as designated. As such, the Company de-designated certain of its interest rate caps and swaps.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Non
Designated Derivative Instruments</u></i> &#150; The classification and amounts of the Company&#146;s derivatives not designated
as hedging instruments are as follows (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">As of December
    31, 2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="4" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Assets</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="4" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Liabilities</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">Type of Instrument</font></p></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">Balance Sheet Location</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Fair Value</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">Balance Sheet Location</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Fair Value</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 24%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 23%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Other current assets</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 23%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Accrued liabilities</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">500</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">244</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">500</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="10" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">As of December
    31, 2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="4" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Assets</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="4" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Liabilities</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-size: 8pt">Type of Instrument</font></p></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">Balance Sheet Location</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Fair Value</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">Balance Sheet Location</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Fair&#160;Value</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 24%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 23%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Other current assets</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 23%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Accrued liabilities</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">15</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td style="padding-bottom: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">15</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">The classification
and amounts of the Company&#146;s recognized gains (losses) for its derivatives not designated as hedging instruments are as
follow (in thousands):</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Realized Gain (Loss)</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">For the Years Ended
    December 31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">Type of Instrument</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">Statements of Operations Location</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 37%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 34%; padding-bottom: 1.5pt"><font style="font-size: 8pt">Cost of goods sold</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">338</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; border-bottom: black 1.5pt solid"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">(163</font></td>
    <td nowrap="nowrap" style="width: 1%; padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">338</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(163</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">Unrealized Gain
    (Loss)</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">For the Years Ended
    December 31,</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">Type of Instrument</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">Statements of Operations Location</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">2011</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">2010</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2"><font style="font-size: 8pt">&#160;</font></td>
    <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="width: 37%"><font style="font-size: 8pt">Commodity contracts</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 34%"><font style="font-size: 8pt">Cost of goods sold</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">(242</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">)</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%"><font style="font-size: 8pt">$</font></td>
    <td style="width: 11%; text-align: right"><font style="font-size: 8pt">(15</font></td>
    <td nowrap="nowrap" style="width: 1%"><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Interest rate contracts</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Interest expense, net</font></td>
    <td style="padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">&#151;</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,227</font></td>
    <td nowrap="nowrap" style="padding-bottom: 1.5pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: #EEEEEE">
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">(242</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">)</font></td>
    <td style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">1,212</font></td>
    <td nowrap="nowrap" style="padding-bottom: 3pt"><font style="font-size: 8pt">&#160;</font></td></tr>
</table><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_DerivativesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_DerivativesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the entity's entire derivative instruments and hedging activities.  Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7668309&amp;loc=d3e80784-113994<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4C<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5624171-113959<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4E<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5624181-113959<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5708775-113959<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5579245-113959<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(n))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=d3e41641-113959<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5579240-113959<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6441202&amp;loc=d3e80720-113993<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=d3e41638-113959<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=d3e41635-113959<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 44<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=d3e41620-113959<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4D<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5624177-113959<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 25<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6886632&amp;loc=d3e76258-113986<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4H<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5624258-113959<br><br><br><br>Reference 17: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5708773-113959<br><br><br><br>Reference 18: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1B<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5580258-113959<br><br><br><br>Reference 19: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4B<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5624163-113959<br><br><br><br>Reference 20: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 45<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 21: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5618551-113959<br><br><br><br>Reference 22: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7668309&amp;loc=d3e80748-113994<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>69
<FILENAME>R27.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>3. INVENTORIES (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">9 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_InventoriesTablesAbstract', window );"><strong>Inventories Tables</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfInventoryCurrentTableTextBlock', window );">Inventories</a></td>
        <td class="text"><p style="margin: 0pt"><font style="font-size: 8pt">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">September 30, 2012</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 8pt">December 31, 2011</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="width: 60%; text-align: left"><font style="font-size: 8pt">Finished goods</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right"><font style="font-size: 8pt">8,089</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 2%"><font style="font-size: 8pt">&#160;</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="width: 16%; text-align: right"><font style="font-size: 8pt">9,429</font></td>
    <td style="width: 1%; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left"><font style="font-size: 8pt">Work in progress</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4,164</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">4,284</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="text-align: left"><font style="font-size: 8pt">Raw materials</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,273</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="text-align: right"><font style="font-size: 8pt">1,334</font></td>
    <td style="text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">Other</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">848</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 1pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 1pt solid; text-align: right"><font style="font-size: 8pt">1,084</font></td>
    <td style="padding-bottom: 1pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(238,238,238)">
    <td style="padding-bottom: 2.5pt; padding-left: 22pt"><font style="font-size: 8pt">Total</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">14,374</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td>
    <td style="padding-bottom: 2.5pt"><font style="font-size: 8pt">&#160;</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font-size: 8pt">$</font></td>
    <td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font-size: 8pt">16,131</font></td>
    <td style="padding-bottom: 2.5pt; text-align: left"><font style="font-size: 8pt">&#160;</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt; background-color: white">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt; background-color: white">&#160;</font></p>



<p style="margin: 0pt"></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_InventoriesTablesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_InventoriesTablesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfInventoryCurrentTableTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 2<br><br> -Paragraph 6<br><br> -Subparagraph a,b,c<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ScheduleOfInventoryCurrentTableTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>70
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<FilingSummary xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema">
  <Version>2.4.0.6</Version>
  <ProcessingTime />
  <ReportFormat>Html</ReportFormat>
  <ContextCount>94</ContextCount>
  <ElementCount>218</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>25</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>6</UnitCount>
  <MyReports>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>0001 - Document - Document and Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/DocumentAndEntityInformation</Role>
      <ShortName>Document and Entity Information</ShortName>
    </Report>
    <Report>
      <IsDefault>true</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>0002 - Statement - CONSOLIDATED BALANCE SHEETS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/ConsolidatedBalanceSheets</Role>
      <ShortName>CONSOLIDATED BALANCE SHEETS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>0003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/ConsolidatedBalanceSheetsParenthetical</Role>
      <ShortName>CONSOLIDATED BALANCE SHEETS (Parenthetical)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R4.htm</HtmlFileName>
      <LongName>0004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/ConsolidatedStatementsOfOperations</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF OPERATIONS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R5.htm</HtmlFileName>
      <LongName>0005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/ConsolidatedStatementsOfCashFlows</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF CASH FLOWS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R6.htm</HtmlFileName>
      <LongName>0006 - Statement - CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/ConsolidatedStatementsOfStockholdersEquity</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R7.htm</HtmlFileName>
      <LongName>0007 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/OrganizationAndBasisOfPresentation</Role>
      <ShortName>1. ORGANIZATION AND BASIS OF PRESENTATION</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R8.htm</HtmlFileName>
      <LongName>0008 - Disclosure - 2. VARIABLE INTEREST ENTITY</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/VariableInterestEntity</Role>
      <ShortName>2. VARIABLE INTEREST ENTITY</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R9.htm</HtmlFileName>
      <LongName>0009 - Disclosure - 3. INVENTORIES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/Inventories</Role>
      <ShortName>3. INVENTORIES</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R10.htm</HtmlFileName>
      <LongName>0010 - Disclosure - 4. DERIVATIVES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/Derivatives</Role>
      <ShortName>4. DERIVATIVES</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R11.htm</HtmlFileName>
      <LongName>0011 - Disclosure - 5. DEBT</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/Debt</Role>
      <ShortName>5. DEBT</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R12.htm</HtmlFileName>
      <LongName>0012 - Disclosure - 6. COMMON STOCK AND WARRANTS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/Warrants</Role>
      <ShortName>6. COMMON STOCK AND WARRANTS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R13.htm</HtmlFileName>
      <LongName>0013 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/CommitmentsAndContingencies</Role>
      <ShortName>7. COMMITMENTS AND CONTINGENCIES</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R14.htm</HtmlFileName>
      <LongName>0014 - Disclosure - 8. FAIR VALUE MEASUREMENTS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/FairValueMeasurements</Role>
      <ShortName>8. FAIR VALUE MEASUREMENTS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R15.htm</HtmlFileName>
      <LongName>0015 - Disclosure - 9. EARNINGS PER SHARE</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/EarningsPerShare</Role>
      <ShortName>9. EARNINGS PER SHARE</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R16.htm</HtmlFileName>
      <LongName>0016 - Disclosure - 10. RELATED PARTY TRANSACTIONS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/RelatedPartyTransactions</Role>
      <ShortName>10. RELATED PARTY TRANSACTIONS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R17.htm</HtmlFileName>
      <LongName>0017 - Disclosure - 11. SUBSEQUENT EVENT</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/SubsequentEvent</Role>
      <ShortName>11. SUBSEQUENT EVENT</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R18.htm</HtmlFileName>
      <LongName>0018 - Disclosure - 3. PROPERTY AND EQUIPMENT (Dec 2011 only)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/PropertyAndEquipmentDec2011Only</Role>
      <ShortName>3. PROPERTY AND EQUIPMENT (Dec 2011 only)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R19.htm</HtmlFileName>
      <LongName>0019 - Disclosure - 4. INTANGIBLE ASSETS (Dec 2011 only)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/IntangibleAssetsDec2011Only</Role>
      <ShortName>4. INTANGIBLE ASSETS (Dec 2011 only)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R20.htm</HtmlFileName>
      <LongName>0020 - Disclosure - 7. ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY (Dec 2011 only)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/AccountingForEmergenceFromBankruptcyDec2011Only</Role>
      <ShortName>7. ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY (Dec 2011 only)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R21.htm</HtmlFileName>
      <LongName>0021 - Disclosure - 8. INCOME TAXES (Dec 2011 only)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/IncomeTaxesDec2011Only</Role>
      <ShortName>8. INCOME TAXES (Dec 2011 only)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R22.htm</HtmlFileName>
      <LongName>0022 - Disclosure - 9. PREFERRED STOCK (Dec 2011 only)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/PreferredStockDec2011Only</Role>
      <ShortName>9. PREFERRED STOCK (Dec 2011 only)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R23.htm</HtmlFileName>
      <LongName>0023 - Disclosure - 11. STOCK-BASED COMPENSATION (Dec 2011 only)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/Stock-BasedCompensationDec2011Only</Role>
      <ShortName>11. STOCK-BASED COMPENSATION (Dec 2011 only)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R24.htm</HtmlFileName>
      <LongName>0024 - Disclosure - 15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/PlantOwnersCondensedCombinedFinancialStatementsDec2011Only</Role>
      <ShortName>15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R25.htm</HtmlFileName>
      <LongName>0025 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Policies)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/OrganizationAndBasisOfPresentationPolicies</Role>
      <ShortName>1. ORGANIZATION AND BASIS OF PRESENTATION (Policies)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R26.htm</HtmlFileName>
      <LongName>0026 - Disclosure - 2. VARIABLE INTEREST ENTITY (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/VariableInterestEntityTables</Role>
      <ShortName>2. VARIABLE INTEREST ENTITY (Tables)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R27.htm</HtmlFileName>
      <LongName>0027 - Disclosure - 3. INVENTORIES (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/InventoriesTables</Role>
      <ShortName>3. INVENTORIES (Tables)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R28.htm</HtmlFileName>
      <LongName>0028 - Disclosure - 4. DERIVATIVES (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/DerivativesTables</Role>
      <ShortName>4. DERIVATIVES (Tables)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R29.htm</HtmlFileName>
      <LongName>0029 - Disclosure - 5. DEBT (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/DebtTables</Role>
      <ShortName>5. DEBT (Tables)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R30.htm</HtmlFileName>
      <LongName>0030 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/CommitmentsAndContingenciesTables</Role>
      <ShortName>7. COMMITMENTS AND CONTINGENCIES (Tables)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R31.htm</HtmlFileName>
      <LongName>0031 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/FairValueMeasurementsTables</Role>
      <ShortName>8. FAIR VALUE MEASUREMENTS (Tables)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R32.htm</HtmlFileName>
      <LongName>0032 - Disclosure - 9. EARNINGS PER SHARE (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/EarningsPerShareTables</Role>
      <ShortName>9. EARNINGS PER SHARE (Tables)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R33.htm</HtmlFileName>
      <LongName>0033 - Disclosure - 1. ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/OrganizationAndBasisOfPresentationDetailsNarrative</Role>
      <ShortName>1. ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R34.htm</HtmlFileName>
      <LongName>0034 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/VariableInterestEntityDetails</Role>
      <ShortName>2. VARIABLE INTEREST ENTITY (Details)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R35.htm</HtmlFileName>
      <LongName>0035 - Disclosure - 2. VARIABLE INTEREST ENTITY (Details Narrative)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/VariableInterestEntityDetailsNarrative</Role>
      <ShortName>2. VARIABLE INTEREST ENTITY (Details Narrative)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R36.htm</HtmlFileName>
      <LongName>0036 - Disclosure - 3. INVENTORIES (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/InventoriesDetails</Role>
      <ShortName>3. INVENTORIES (Details)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R37.htm</HtmlFileName>
      <LongName>0037 - Disclosure - 4. DERIVATIVES (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/DerivativesDetails</Role>
      <ShortName>4. DERIVATIVES (Details)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R38.htm</HtmlFileName>
      <LongName>0038 - Disclosure - 4. DERIVATIVES (Details Narrative)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/DerivativesDetailsNarrative</Role>
      <ShortName>4. DERIVATIVES (Details Narrative)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R39.htm</HtmlFileName>
      <LongName>0039 - Disclosure - 5. DEBT (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/DebtDetails</Role>
      <ShortName>5. DEBT (Details)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R40.htm</HtmlFileName>
      <LongName>0040 - Disclosure - 5. DEBT (Details Narrative)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/DebtDetailsNarrative</Role>
      <ShortName>5. DEBT (Details Narrative)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R41.htm</HtmlFileName>
      <LongName>0041 - Disclosure - 6. COMMON STOCK AND WARRANTS (Details Narrative)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/WarrantsDetailsNarrative</Role>
      <ShortName>6. COMMON STOCK AND WARRANTS (Details Narrative)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R42.htm</HtmlFileName>
      <LongName>0042 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/CommitmentsAndContingenciesDetails</Role>
      <ShortName>7. COMMITMENTS AND CONTINGENCIES (Details)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R43.htm</HtmlFileName>
      <LongName>0043 - Disclosure - 7. COMMITMENTS AND CONTINGENCIES (Details Narrative)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/CommitmentsAndContingenciesDetailsNarrative</Role>
      <ShortName>7. COMMITMENTS AND CONTINGENCIES (Details Narrative)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R44.htm</HtmlFileName>
      <LongName>0044 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/FairValueMeasurementsDetails</Role>
      <ShortName>8. FAIR VALUE MEASUREMENTS (Details)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R45.htm</HtmlFileName>
      <LongName>0045 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 1)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/FairValueMeasurementsDetails2</Role>
      <ShortName>8. FAIR VALUE MEASUREMENTS (Details 1)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R46.htm</HtmlFileName>
      <LongName>0046 - Disclosure - 8. FAIR VALUE MEASUREMENTS (Details 2)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/FairValueMeasurementsDetails1</Role>
      <ShortName>8. FAIR VALUE MEASUREMENTS (Details 2)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R47.htm</HtmlFileName>
      <LongName>0047 - Disclosure - 9. EARNINGS PER SHARE (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/EarningsPerShareDetails</Role>
      <ShortName>9. EARNINGS PER SHARE (Details)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R48.htm</HtmlFileName>
      <LongName>0048 - Disclosure - 9. EARNINGS PER SHARE (Details Narrative)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/EarningsPerShareDetailsNarrative</Role>
      <ShortName>9. EARNINGS PER SHARE (Details Narrative)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R49.htm</HtmlFileName>
      <LongName>0049 - Disclosure - 10. RELATED PARTY TRANSACTIONS (Details Narrative)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://compsciresources.com/role/RelatedPartyTransactionsDetailsNarrative</Role>
      <ShortName>10. RELATED PARTY TRANSACTIONS (Details Narrative)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <Logs>
    <Log type="Info">Element us-gaap_AssetsFairValueDisclosure had a mix of decimals attribute values: -3 0.</Log>
    <Log type="Info">Element us-gaap_LiabilitiesFairValueDisclosure had a mix of decimals attribute values: -3 0.</Log>
    <Log type="Info">Process Flow-Through: 0002 - Statement - CONSOLIDATED BALANCE SHEETS</Log>
    <Log type="Info">	Process Flow-Through: Removing column 'Sep. 30, 2011'</Log>
    <Log type="Info">	Process Flow-Through: Removing column 'Dec. 31, 2009'</Log>
    <Log type="Info">Process Flow-Through: 0003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)</Log>
    <Log type="Info">Process Flow-Through: 0004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS</Log>
    <Log type="Info">Process Flow-Through: 0005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</Log>
  </Logs>
  <InputFiles>
    <File>peix-20120930.xml</File>
    <File>peix-20120930.xsd</File>
    <File>peix-20120930_cal.xml</File>
    <File>peix-20120930_def.xml</File>
    <File>peix-20120930_lab.xml</File>
    <File>peix-20120930_pre.xml</File>
  </InputFiles>
  <SupplementalFiles />
  <BaseTaxonomies />
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>true</HasCalculationLinkbase>
</FilingSummary>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>71
<FILENAME>R38.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EDJAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>4. DERIVATIVES (Details Narrative) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">9 Months Ended</th>
        <th class="th" colspan="1"></th>
      </tr>
      <tr>
        <th class="th">
          <div>Sep. 30, 2012</div>
        </th>
        <th class="th">
          <div>Sep. 30, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_AdditionalTextualsAbstract', window );"><strong>Additional details</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainRecognizedInIncome', window );">Recognized gains and losses due to change in fair value</a></td>
        <td class="nump">$ 202,000<span></span></td>
        <td class="nump">$ 334,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional balances</a></td>
        <td class="nump">24,102,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">9,186,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent', window );">Accrued liabilities</a></td>
        <td class="nump">291,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">500,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_peix_NonDesignatedDerivativeOtherAssets', window );">Other Assets</a></td>
        <td class="nump">$ 514,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 244,000<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_DerivativeNotionalAmount">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate notional amount specified by the derivative(s). Expressed as an absolute value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 12<br><br> -Section 13<br><br> -Sentence Column B<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>invest_DerivativeNotionalAmount</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>invest_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_AdditionalTextualsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_AdditionalTextualsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_peix_NonDesignatedDerivativeOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Non Designated Derivative</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>peix_NonDesignatedDerivativeOtherAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>peix_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 15<br><br> -Subparagraph 5<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.15(5))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.15(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 15<br><br> -Subparagraph a<br><br> -Article 7<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccruedLiabilitiesCurrentAndNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsGainRecognizedInIncome">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of gain recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4C<br><br> -Subparagraph (a),(c),(d),(e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5624171-113959<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 205G<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 44C<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4A<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5618551-113959<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DerivativeInstrumentsGainRecognizedInIncome</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>72
<FILENAME>R20.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ELE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>7. ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY (Dec 2011 only)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReorganizationsAbstract', window );"><strong>Reorganizations [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock', window );">7. ACCOUNTING FOR EMERGENCE FROM BANKRUPTCY</a></td>
        <td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Gain
on Bankruptcy Exit</u></i> &#150; On the Effective Date, the Company ceased to own the Plant Owners as they emerged from bankruptcy.
As a result, the Company removed the related assets of $175,070,000 and liabilities of $294,478,000 from its consolidated financial
statements, resulting in a net gain on bankruptcy exit of $119,408,000.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 8pt"><i><u>Reorganization
Costs</u></i> &#150; In accordance with the Financial Accounting Standards Board&#146;s Accounting Standards Codification 852,
<i>Reorganizations</i>, revenues, expenses, realized gains and losses, and provisions for losses that can be directly associated
with the reorganization and restructuring of the business must be reported separately as reorganization items in the statements
of operations. During the year ended December 31, 2010, the Plant Owners recorded professional fees and other organizational costs
directly related to the reorganization of $4,153,000.</font></p><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReorganizationsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ReorganizationsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the description and amounts of reorganization under Chapter 11 of the US Bankruptcy Code.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6916575&amp;loc=d3e55811-112764<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6918054&amp;loc=d3e56071-112765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 90-7<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6918054&amp;loc=d3e56015-112765<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6918054&amp;loc=d3e56068-112765<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 852<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 7<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6918054&amp;loc=SL2890621-112765<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ReorganizationUnderChapter11OfUSBankruptcyCodeDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
